2025-03-31-accounts

Company ￿giStratIon number.. 08313398 Charity registration number: 1153345 THE BUCKINGHAMSHIRE COUNTY MUSEUM TRUST TRUSTEES. REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

The Buckinghamshire County Museum Trust Contents Page Trustees, Report Independent Examiner's Report Statement of Financial Activities (including Income and Expenditure Account) Comparative Statement of Financial Activities (including Income and Expenditure Account) io Balance Sheet li Statement of Cash Flows 12 Notes to the Statement of Cash Flows 13 Notes to the Financial Statements 14-21 The following pages do not form part of the statutory accounts= Detailed Staternent of Financial Activities (including Income and Expenditure Account) 22-23

The Buckinghamshire County Museum Trust Company No. 08313398 Trustees. Report For The Year Ended 31 March 2025 The trustees present their report and the financial statements for the year ended 31 March 2025. Objectives and Activities Aims and Objectives Our Aims The Trust operates under a charitable company Memorandum and Articles incorporated on 29th November 2012 amended by special resolution on l August 2013 which included the regulations for appointment of trustees. Since 10 June 2021 the Trust has traded as Discover Bucks Museum. The objects of the Charity are to maintain a museum andlor art galleryi the advancement of education and training and other purposes which are at the discretion of the Trustees are consistent with these. We aim, through our activities to inspire and educate residents and visitors to the county by curating and telling its unique story; to acquire, preserve, display. interpret and Sha￿ the natural and cultural heritage of the County documenting the way we live now and in the past. Forward thinking is at the heart of the Trustees. Vision for the future - working through partnerships and seeking the support and engagement of rnuseum visitors in whatever we do. Public Benefit In setting objectives and planning activities the Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing education. The trustees confirm that they have complied with the requirements of Section 17 of the Charities Act 2011 to have due regard to the Charity Commission's guidance on public benefit. Achievements and Performance Main Achievements OBJECTIVES AND ACTIVITIES The Trust has managed the County Museum since 1st August 2014 and receives an annual management fee to look after the collections and operate the Museum. It has signed key agreements including a Service Level Agreement, Funding Agreement and licenses to occupy as the basis for viable operation. Visitors 2024-2025 has seen a dip in visitor figures to an annual total of 28,289- a reduction of around 9 % on the previous financial year {31,11 l). There has been a similar trend seen in museum visltor numbers across the sertor and- although public visitor figures are lower to the museum galleries specifically- the number of school visitors have increased by around 40Wo and visitor numbers to the Roald Dahl Children's Gallery have remained stable. This leads us to believe that the Discover Bucks Galleries have now been seen by many local residents and a change in displays is required. Furthermore, visitor numbers to the exhibitions have decreased, which may be due to our selection of exhibition topics. The museum recognises the need to continue to review the exhibition selection. to ensure that the schedule marries up with visitor expectations, particularly with regards to our family audiences. Visitor figures aside, our feedback remains excellent- there is a high level of satisfaction from those that do visit whether that be for exhibitions, events or school progrdmmes. Room hires continue to increase, largely due to the popularity of the site as a 'paranormal investigation, location and our activities and events are slowly increasing in popularity and revenue. The museum's community work continues to grow as we engage with more of our local community groups. Greater focus will be given to forging new relationships in Buckinghamshire and we will look to work with underrepresented and underserved communities wherever possible. We hope to further strengthen our community programmes in the coming years with a dedicated post to assist this work. Major Exhibitions This Fractured Land; Mar '24 Jul .24 May the Toys Be With You; July .24 Nov'24 Off the Wall Art Exhibition- Nov '24 - Dec'24 Bucks Photography Open. Jan .25 - May'25 Light Fantastic,. Feb .25 Apr '25 .CONTINUED Page I

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Main Achievements - continued The year featured a number of temporary exhibitions, alongside display installations, totalling 14 throughout the year. The year began with This Fractured Land, an array of artworks in different mediums, developed by a cohort of 5 local female artists and interpreting the changing landscapes of Buckinghamshire. A beautifully presented and varied exhibition, it was well-received by visitors and also won the 'Best Exhibition, award at the first Bucks Spark Awards. It didn't, however, attract the footfall we had hoped for but associated events. walks and activities proved also to be popular. The exhibition that followed was our planned 'blockbuster' exhibition, designed span across the school summer holidays to capture and encourage as much footfall as possible. May the Toys Be With You featured a plethora of Star Wars toys, curated by independent collector, Matt Fox {who's exhibitions have performed well for the museum in the past). Again, a beautifully presented exhibition that drew in new audiences interested in Star Wars memorabilia, it was somewhat lacking in interactive opportunities and this- alongside a general decrease across the sector- was one factor in achieving lower than expected foottall. November 2024 saw the opening of the Off the Wall Art Exhibition. an exhibition arranged by and in support of our associated Friends and Patrons charity (charity no. 1059377) and hadn't featured in the exhibition calendar since 2021. A new Friends volunteer arranged the exhibiting artists for this short-run exhibition and although it raised some money for the charity, it did not generate as much income as It has done in previous years. Future iterations of this exhibition are likely to be scaled-down in size as the effort involved in mounting them is considerable, in relation to the length of run and income raised. The year's main exhibition schedule finished on a more positive note with the installation of the Bucks Photography Open in January 2025 and which was added to with a hands-on children's science exhibition Light Fantastic in Februaryi to coincide with the school half-term. The open photography competition had 80 photographers enter and a further 50 under 18's enter their own version of the photography competition. which was displayed alongside the adults, photos. The Light Fantastic exhibition was added into the centre of the photograph exhibition space and focused on the science of optics, so remained in-keeping with the photography exhibition. This ran through the February half-term and Easter school holidays and was a huge hit with visiting families. There were also two smaller exhibitions featured in the 'Georgian Room. area of the museum during the year. The Muir Trust funded an artist in residence, Cara Gordon. frorn May '24 to July '24. Cara's work focused on portraiture and was both produced and exhibited in the room. This was followed by a collections-based exhibition, WEIRD, displaying unusual and unlikely objects from the collections which was very popular with the public and is planned to be a smaller changing display in another area of the museum going forward. The Ernbroiderers, Guild exhibition for the 2024 period was Blooming Threads. displaying textile pieces depicting flowers and was changed over in January 2025 to On a Gland Scale, displaying some of the larger pieces in the EG collection, including a felt depiction of the 'Birth of Venus.. Community displays for the period included- a display about the Mayor at the time, Steve Lambert, featuring the Mayoral robes; an artwork display for Holi Festival; Refugee 'Food Stories., following themes of how food brings communities together- a local Ukrainian artist, Alexandra Dikaia- and a celebration of Aylesbury Pride event, held in August 2024. other displays were installed around the museurn, including.. Marvin the Paranoid Android, in the costume case of the Discover Bucks Galleries- a maquette of the geologist, Mary Anning, that toured the UK- and a selection of local pottery found in a former hospital, in the Early Access archaeology case. Events Informal activity days during school holidays started have gone from strength-to-strength this year. Demand for these has increased and so capacity andlor frequency has too. Other notable events are the Paranormal Investigations that take place,. although not run by us, we are becoming increasingly popular for ghost hunts and these events are producing a very good Income stream whilst raising our profile to new audiences. Some of our notable events through the year included: st George's Day- Delivered in collaboration with the Aylesbury Town Council. this annual event normally sees visitor numbers in excess of 1,000 over the day and features theatrical performances, crafts and even St. George on horseback. Holi Festival of Colour with the Aylesbury Hindu Temple Trust: attrdrted around 800 people to enjoy celebrations surrounding thi5 fun, paint-throwing holy festival. Festival of Archaeology- As a National scheme, this is a regular feature in the museum's calendar. This year featured presences from the Portable Antiquity Scheme and Bucks Archaeological Society. There was also a Roman pottery identification workshop, craft activities and sandpit excavations to keep families entertained. Heritage Open Day- This National scheme is one which we participate in annually. This year included stall holders from various heritage organisations, local photograph collections and a performance from the RAF pipe band. Festival of Light- We again hosted the event in collabordtion with Holy Cow Community Events. The day featured community acts on a stage in the museum's garden and ended with a lantern parade late afternoon. This is an incredibly important community event for the museum and plans to continue year-on-year. Dino Day.. Megalosaurus 200- This day focused on rocks and fossils and what they can tell us. We were joined by palaeontology groups from Isle of Wight and was incredibly popular with families. .CONTINUED Page 2

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Main Achievements - continued Discover Bucks Collections Stores The collection stores in Halton village are a foreseeable issue as they are becoming full, dilapidating to a point where they are not fit-for-purpose, and the Council (who own the building) are looking to put it to another use. To this effect, work has been done to quantify the collertions and the storage requirements to best suit their needs moving forwards. Other aspects are also being considered in developing the collectlOnS Store, most likely in another location. this includes using green energy schemes to reduce utilities, additional space for collections development and future influx of HS2 materials, and public access. Work was done to assess suitability of a site in High Wycombe. but this was proven to not be suitable for our collections, due to the building condition, location and limitations on load-bearing on upper floors. We continue to work with Buckinghamshire Council to find an appropriate alternative site, and we are also looking at other options for a store move in the future. Strategic Plan A new 10-year Strategic Plan has been issued, to cover the period 2025 - 2035. Strategic Priorities have been identified as the following: l. Audiences 2. Collections 3. Resources 4. Financial Sustainability The priorities focus on: improving footfall and visitor offerings. working more closely with our communities, developing our collections and improving collections care, rdising the profile of our studio ceramics collection, improving our staff and volunteer resources and training, and increasing our self-generated revenue. Work continues on the delivery plan to sit alongside this and ensure we achieve our strdtegic airn5. Collections Acquisitions during the year: 'Ann'_ Pastel portrait by Muir Trust artist-in-residence Ann by Cara Gordon, artist, made during Muir Trust artist residency 2024: using violet pastel and collage; height 51cm., This item was added to the collertion following the residency. HS2 route painting 3 wooden panels of maps of the proposed Hs2 route. Created by Julia Drummond, who was a local ceramic artist and was passionate campaigner against HS2. She also has studio pottery in the museum's collection Barclay Family Dress Dress dated approx. 1880-1900. 1 of 2 which were donated. made for 7-8 year old, green silk with a mix of pink and red embroidered flowers all over the front and back of the dress. full length sleeves and high necked, ruffled collar. Donated by the Barclay family. The donor, Joanna Barclay was the Deputy Lieutenant for Buckinghamshire. Both dresses are part of the Barclay family, however it is unknown who they would have been maile for. Military medals, Quainton Framed set of 6 medals. Top three are from WWI awarded to donor's uncle John Brion from Quainton. killed in April 1918. The three medals in the lower tier were awarded to donorfs father. also from Quainton. during WW2. Banknote, Aylesbury Vale Bank Promissory note issued by the Vale of Aylesbury Bank. Reads "Promise to pay the Bearer on Demand the sum of ONE POUND, here or at Messrs Masterman Peters, Masterman & Co Bankers London Value received Aylesbury 26 day of Novr 1810 No 43333 Mr Thornas Grace & John Saunders Woodcock One tK)und (11853)" and signed L S Woodcock Bronze Age Bracelet, Edgcott Gold ribbon bracelet, 4.23g, Bronze Age {probably mid to late). found by metal detectorist in parish of Edgcott and declared Treasure Coin Hoard, Marlow Hoard of two Merovingian gold coins, dated c.580-670: found by metal detectorist near parish of Madow, near Marlow warlord burial and declared Treasure. one is from Le Vimeu mint, the other possibly an imitation of the Auvergne mint Archaeological Archive-'Marlow Warlord archaeological archive from excavation of the Marlow Warlord: early medieval warrior burial; findspot to remain confidential at request of landowner. original grave goods found by metal detertorist, but grdve later excavated by Reading University team,. finds include human remains, well preserved sword with fittings, iron knife, iron shears. buckle, strike a light, fragments of glass cone beaker,. previous partial excavation of the grave recovered 2 copper alloy bowls and 2 spearhead .CONTINUED Page 3

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Main Achievements - continued Portable Antiquities Scheme Work continued on recording treasure finds and liaising with finders and we still employ a Finds Liaison OfFicer. We use every opportunity to promote the PAS scheme, largely through the Officer's presence at our related events, both on-site nd externally. National Portfolio Oryanisation We continue to report as required to the Arts Council to retain our NPO status. This includes updating our activity plan progress, achievements against the investment principles and our financial standing. The programme has been extended to 2026127, and is intended to be extended for a further year to cover the 2027/28 period, which we will apply to. The museum recognises and thanks the Arts Council England for their significant and continued support over the years. Service Level Agreements The museum cares for and manages collections from the National Paralympic Heritage Trust, Embroiderer's Guild and Tring Museum. The SLA with Buckinghamshire Council continues, whereby the Council pays the museum to care for their collections- this amount has been reducing by around £IOk per year over the last three years. and will continue to do so over the next two years, until the SLA is revisited and a new agreement signed. Volunteers Volunteers continue to work at both the museum and collections store sites, and account for around 4,000 hours every year. Intentions are to increase our volunteer numbers- as per the new Strategic Plan- by offering more attractive volunteering opportunities across the museum sites. Friends and Patrons The Museum receives regular support from its Friends and Patrons- the two groups are a single charity and managed by a joint committee but retain different priorities for grant allocation. The Patrons owe their origins to fundraising efforts to build the new art exhibitions gallery in the 1990s and focus their grant giving on art acquisitions and some strategic grants for example for selected special exhibitions. The Museum is incredibly grateful to the Patrr)ns and Friends for their continued and invaluable support for the exhibitions programmes and other activities which are such a success Wlth our local community. The £23,034 received last year from the Friends & Patrons supported a number of projects, including.. the purchase of essential facility equipment. SEND focused play-equipment and a substantial: amount for an essential IT infrastrurture upgrade. The Friends also kindly supported the purchase of 2 Bucks treasure items for the collections during the year totalling £800. a memento mori ring and Medieval silver pyramid. STRATEGIC REPORT Future plans The new mission and values developed during the rebranding exercise in 2021122 remain the same.. Our Mission We collect and share objects and stories reflerting the people, culture and landscapes in Buckinghamshire. We encourage visitors to join us on journeys of discovery. We inspire our community, creating conversations and connettions to the place where we live. Our Values: People We are open and inclusive. We ensure that the objects. exhibitions and events we share are representative of our community so that everyone can see themselves reflected. Exploring We inspire deep emotions and moments of magic. We help people to explore and find things that are meaningful to their lives and help them discover the heritage of Buckinghamshire. Curiosity We are curious and inquisitive about our collections and the world around us. We uncover the wonderful stories linked with our collections to stimulate ideas, knowledge, understanding and conversations. Financial Review Page 4

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Financial Position The key features of the financial performance for the year ended 31st March 2025. extracted from the detailed financial statements on pages 5 to 18. The principal income during the year was from the Buckinghamshire Council Service level agreement for the management of the museum and collertion £387.174, a National Portfolio Organisation grant from the Arts Council £101,840 and other service level agreements totalling £20,083. Admission fees (introduced in April 2022) totalled £25,500 for the new museum galleries and £48,600 for the Roald Dahl Children's Gallery. Introducing the admission charge has increased self-generated income significantly admission charges will be further evaluated to discern whether the prices are a barrier to some or considered too low compared to 'value for rnoney,. Self-generated incorne accounted for 41Q/o of total income. The main items of expenditure were salaries and pension contributions £634,850 (an increase of 5010 compared with 2023124), utilities £97,000 (an increase of 13% on 2023124}. Other significant costs include.. cost of sales £12,800,. professional & accountancy fees £1.600; insurdnce £13.400: IT & telephony £18.900: and advertising costs £13,200. Reserves In line with their duties under Company and Charity law. and in accordance with the guidance issued by the Charity Commission, the Trustees have taken a risk identification approach towards calculating the minimum level of reserves the Museum aims to hold and have adopted the following policy on reserves. The Museum holds reserves.. To fund working capital To fund future commitments To fund shortfalls in income or unexpected expenditure Having considered the relative reliability of the Museum's major income streams and the level of commitment to expenditure, Trustees have concluded that the majority of the Museum's main sources of income - a management fee from Bucks County Council, NPO funding from the Arts Council is predictable in the short term and receivable In advance, but heavily reliant on two funders. Most of the Museum's costs are staffing and building related and are fixed in the short term. Therefore, the Trustees have determined that the minimum level of free reserves should be £300,000 covering 6 months of fixed costs in the event of a significant loss of income. The Museum received a £ 110,000 grant from Arts Council England in 2025 towards reinflating its reserves and will aim to generdte surpluses of £30.000 per year for the next 3 years to increase reach £300,000. The Museum may also raise funds towards future commitments or planned projects and would designate the associated proportion of reserves towards these specific purposes. If the Museum takes on a fixed term repairing lease, reserves would be accumulated to cover end of lease obligations. This policy and the level of reserves currently held will be reviewed annually. Structure, Governance and Management Governing Document Trustees holding office in 2024125 were selected following public advertisement and interview. All Trustees are selected based on the range of skills and characteristlcs needed to oversee and develop the museum and to integrate its work with the wider cornmunity. Trustees have experience and qualifications in finance, business development and management, healthcare, governance and strategyi school's management, education, development of young people, projert management, community engagement and digital. Trustees are aware of the need to diversify and have diversified gender and different cultural backgrounds within current trustees and are committed to continuing to diversify the governance of the museum and include different voices in decision making in the future. Every new trustee receives an induction pack and a formal induction day with the Museum Director and staff and attend at least one Away Day annually with staff to help plan for the future. Trustees meet formally 5-6 times per year. The HR and Finance Committees (set up in 2020121) continued to meet throughout the year, on 3 occasions each. All trustees give of their time freely and no remuneration or expenses were paid in the year. No Trustee or person connected with a trustee received any benefit from their association. The majority of Trustees were also Directors of the Buckinghamshire County Museum Enterprises. a company limited by guarantee, which had been dormant and was wound up in the year. .CONTINUED Page 5

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Governing Document - continued Organisational Management The Trustees determine the general poliry of the Trust attended by the Chief Executive and specialist staff as required. The day to day running of the Museum and all staff appointments are delegated to the Chief Executive, supported by senior staff. Chief Executive undertakes the key leadership role overseeing curatorial. public and community relations and administrative functions in consultation with the senior staff. The day-to-day administration of the Museum and its associated Resource Centre is undertaken within the policies and procedures approved by the Trustees. Only significant expenditure decisions and major capital projects are referred to the Trustees for prior approval. Other Relationships The trustees maintain a close relationship with Bucks County Council, now Buckinghamshire Council from l April 2020 and the Arts Council and other museums and heritage organisations in Buckinghamshire and neighbouring localities. The Chief Executive is a Trustee of the Buckinghamshire Culture organisation and a member of the Association of Independent Museums and the Museums Association. Other members of staff are members of specialist groupings for Education, Archaeology and Natural Sciences integrating them into national networks across the UK. Risk Management The Trustees are responsible for the overseeing of the risks faced by the museum. Detailed considerations of risk are delegated to the Senior Management and are identified. assessed and controls established throughout the year. Through the established risk management processes for the Museum. the Trustees are satlsfied that the major risks identified have been adequately mitigated where necessary. It is recognised that systems can only provide reasonable but not absolute assurance that major risks have been adequately managed. The Trust continues to insure the buildings, contents and activities of the museum and resource centre, and also has specialist insurance cover on the collections. Further insurdnce is in place for: Trustees Indemnity, Personal Accident, Employer's Liability and Public Liability (for no less than £IOm). Reference and Administrative Details Trustees Mr Mark Hall Mrs Susan Imbriano Ms Natasha Ostaszewska-Thiebaut (resigned 0810712024) Mr Robert Sutcliffe Mr William Chapple Mrs Kate Schwarz Mr Jamie Douglas Mr Simon Kearey Professor Daniel Pett Company Secretary Dux (Company Secretary} Limited Charity Number 1153345 Company Number 08313398 Independent Examiner Caroline Clarke ACA Clarke + Wells Ground Floor 66 High Street Lewes East Sussex BN7 IXG Page 6

The Buckinghamshire County Museum Trust Trustees. Report (continued) For The Year Ended 31 March 2025 Small Company Rules This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Art 2006. The trustees, report was approved by the board of trustees and signed on its behalf by: Mr Robert Sutcliffe Trustee 19th December 2025 Page 7

The Buckinghamshire County Museum Trust Independent Examiner's Report to the Trustees of The Buckinghamshire County Museum Trust For The Year Ended 31 March 2025 report to the charity trustees on my examination of the accounts of the Company for the year ended 31 March 2025. Responsibilities and Basis of Report As the charity trustees of the Company {and also its dirertors for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 1"the 2006 Act"). Having satisfied myself that the accounts of the Cornpany are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Art'l. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5) (bl of the 2011 Act. Independent Examiner's Statement Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of The Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: l. accounting records were not kept in respert of the Company as required by section 386 of the 2006 Act. or 2. the accounts do not accord with those records. or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair view. which is not a matter considered as part of an independent examination,. or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102). I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Caroline Clarke ACA 19th December 2025 Clarke + Wells Ground Floor 66 High Street Lewes East Sussex BN7 IXG Page 8

The Buckinghamshire County Museum Trust Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies other trading activities Investments other 116,348 612.737 3,588 95,989 106,078 222,426 612,737 3,588 95,989 299.715 642,703 2.434 17,924 828,662 106,078 934,740 962,776 EXPENDThURE ON: Raising funds Charitable activities- (12.817) 112.817) 116.495) Reflecting the people, culture and landscape5 in Buckinghamshire {855,071} (69,088) (924,159) { 1,02 1,357) {867,888) (69,088) (936,976) { 1,037,852) NET EXPENDITURE (39,226} 36,990 {2,236) (75,076) NET MOVEMENT IN FUNDS (39,226} 36,990 {2,236) (75.076) RECONCILIATION OF FUNDS: Total funds brought forward 199,562 1,352,451 1,552,013 1,627.089 TOTAL FUNDS CARRIED FORWARD 19 160,336 1,389,441 1,549,777 1,552.013 The notes on pages 13 to 21 form part of these financial statements. Page 9

The Buckinghamshire County Museum Trust Comparative Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2024 Unrestricted Restricted funds funds Total funds Notes INCOME AND ENDOWMENTS FROM: Donations and legacies Other trading activities Investments 109,153 642,703 2,434 17,924 190,562 299,715 642,703 2,434 17,924 Other 772,214 190,562 962,776 EXPENDITURE ON: Raising funds Charitable activities: Reflecting the people, culture and landscapes in Buckinghamshire (16,495) (16,495) {750,488} (270,869) { 1,02 1,357) {766,983} (270,869) { 1,037.852) NET EXPENDITURE 5,231 (80,307) (75,076) NET MOVEMENT IN FUNDS RECONCILIATION OF FUNDS: 5,231 180,3071 175.076) Total funds brought forward 194,331 1,432,758 1,627,089 TOTAL FUNDS CARRIED FORWARD 19 199,562 1,352,451 1,552,013 The notes on pages 13 to 21 form part of these financial statements. Page 10

The Buckinghamshire County Museum Trust Balance Sheet As At 31 March 2025 2025 2024 Unrestricted Restricted funds funds Total funds Total funds Notes FIXED ASSETS Tangible Assets Heritage Assets 13 1,617 1.617 5.157 1,350,380 1.350,380 1,350,380 14 1.617 1,350,380 1.351,997 1,355,537 CURRENT ASSETS stocks 15 1.565 147,177 69,820 1,565 147.177 108,881 2,222 67,227 218,362 Debtors Cash at bank and in hand 16 39,061 218,562 39,061 257,623 287,811 Creditors: Amounts Falling Due Within One Year 17 (59,843) (59,843) (91,335) NET CURRENT ASSETS (LIABILITIES) 158.719 39,061 197,780 196,476 TOTAL ASSETS LESS CURRENT LIABILITIES 160.336 1.389,441 1.549,777 1,552,013 NET ASSETS 160,336 1,389,441 1,549.777 1,552.013 FUNDS OF THE CHARITY Restricted Funds 1.389,441 1,352,451 160.336 199,562 Unrestricted Funds TOTAL FUNDS 19 1,549,777 1,552,013 For the year ending 31 March 2025 the charitable company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the charitable company to obtain an audit in accordance with section 476 of the Companies Act 2006. The trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime. On behalf of the board Eobgrt E SMtLII Mr Robert Sutcliffe Trustee 19th December 2025 The notes on pages 13 to 21 form part of these financial statements. Page 11

The Buckinghamshire County Museum Trust Statement of Cash Flows For The Year Ended 31 March 2025 2025 2024 Notes Cash flows from operating activities Net cash used in operations (113,069) 144,387) Net cash used in operating activities (113,069) 144,387) Cash flows from investing activities Purchase of tangible assets Interest received (855) 2,434 3,588 Net cash generated from investing activities 3,588 1,579 Decrease in cash and cash equivalents Cash and cash equivalents at beginning of year (109,481) 218,362 142,808) 261,173 Cash and cash equivalents at end of year 108,881 218,365 Page 12

The Buckinghamshire County Museum Trust Notes to the Statement of Cash Flows For The Year Ended 31 March 2025 Reconciliation of expenditure to cash used in operations 2025 2024 Net expenditure Adjustments for." Interest income (2,236) (75,076) (3,588) 3,540 (2.434) 3,620 Depreciation of tangible assets Movements in working capital.. Decrease in stocks 657 2,571 10,160 16,772 (Increase)/decrease in trade and other debtors (Decrease)/increase in trade and other creditors (79,950) {31.492) Net cash used in operations 1113,069) 144,387) 2. Cash and cash equivalents Cash and cash equivalents, as stated in the Statement of Cash Flows. relates to the following items in the Balance Sheet.. 2025 2024 Cash at bank and in hand 108,881 218.362 3. Analysis of changes in net funds As at l April Cash flows 2024 Asat31 March 2025 Cash at bank and in hand 218,362 { 109,481) 108,881 Page 13

The Buckinghamshire County Museum Trust Notes to the Financial Statements For The Year Ended 31 March 2025 l. General Information The Buckinghamshire County Museum Trust is a company limited by guarantee. incorporated in England & Wales, registered number 08313398 and registered charity number 1153345. The registered office is 2. Accounting Policies 2.1. Basis of Preparation of Financial Statements The financial statements have been prepared in accordance with the Charities SORP (FRS 102) "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102} (effective I January 2019)" Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The charitable company is a Public Benefit Entity as defined by FRS 102. 2.2. Fund Accounting The charity maintains a general unrestricted fund which represents funds which are expendable at the discretion of the trustees in furtherance of the objects of the charity. Such funds may be held in order to finance both working capital and capital investment. Designated funds comprise of unrestricted funds that have been set aside by the Trustees for particular purposes. Restricted funds have been provided to the charity for particular purposes, and it is the policy of the board of trustees to carefully monitor the application of those funds in accordance with the restrictions placed upon them. There is no formal policy of transfer between funds or on the allocation of funds to designated funds, other than that described above 2.3. Incoming Resources Income is recognised when the Charity has entitlement to the funds, any performance indicators attached to the item{s) of income have been met, it is probable that the income will be received, and the amount can be measured reliably. Donations are recognised in full in the Statement of Financial Activities when entitled, receipt is probable and when the amount can be quantified with reasonable accuracy. Gift aid receivable is included when claimable. Grant income is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless the grant relates to a future year. in which case it is deferred. Income from charitable activities is credited to the Statement of Financial Activities when received or receivable whichever is earlier, unless it relates to a specific future year or event, in which case it is deferred. 2.4. Resources Expended Liabilities are recognised as expenditure as soon as there 15 a legal or constructive obligation cotnmitting the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources. 2.5. Tangible Fixed Assets and Depreciation Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated irnpairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases: Fixtures & Fittings Computer Equipment 25% Straight line 20% Straight line 2.6. Heritage Assets Heritage assets are included at cost. In the year ended 31 March 2017 the museum was successful in acquiring the Lenborough Hoard at a cost of £1,350,000. The Trustees do not consider depreciating this asset is appropriate as the residual value is deemed to equal the cost paid and there is no indication the value will have fallen. Page 14

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2.7. Stocks and Work in Progress stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out method. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work in progress is reflected in the accounts on a contratt by contrdrt basis by recording turnover and related costs as contract activity progresses. At the end of each reporting period stocks are assessed for impairment. If an item of stock is impaired, the identified stock is reduced to its selling price less costs to complete and sell and an impairment charge is recognised in the statement of financial activities. Where a reversal of the impairment is required the impairment charge is reversed, up to the original impairment Ioss, and is recognised as a credit in the statement of financial artivities. 2.8. Cash and Cash Equivalents Cash and cash equivalents are basic financial assets and include cash in hand and deposits held at call with banks, other short-term highly liquid investments that mature in no more than three months from the date of acqui51tion and are readily convertible to a known amount of cash with insignificant risk of change in value, and bank overdrafts. 2.9. Pensions The charitable company operates a defined pension contribution scheme. Contributions are charged to the Statement of Financial Activities as they become payable in accordance with the rules of the scheme. 3. Income from Donations and Legacies 2025 Unrestricted Restricted Total funds funds funds Donations and gifts Legacies Grants 10.424 4,084 101.840 10.424 4,084 207.918 106,078 116,348 106,078 222,426 2024 Unrestricted Restricted Totsl funds funds funds Donations and gifts Legacies Grants 7,313 7.313 101,840 190,562 292,402 109,153 190,562 299,715 The following grants are included within the total income from donations and legacies above= 2025 Unrestricted funds Restricted funds Total funds Arts Council - NPO British Museum acquisition grant Britlsh Museum PAS grant Buckinghams County Council Contribution to MEND application DCMS Mend Fund Friends & Patrons of the Museum Headley Trust aCqUlSltion grant National Heritage Lottery Fund - Bucks Heroes Project 101.840 101.840 22,549 7.919 22,549 7,919 23,034 23,034 17,705 17,705 .CONTINUED Page 15

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 V&A acquisition grant Muir Trust 2,980 4,890 27,000 2.980 4,890 27,000 Art Fund 101,840 106,077 207,917 2024 Unrestricted funds Restricted funds Totsl funds Arts Council - NPO 101,840 101,840 15.000 7,333 20,000 60,000 27,899 6,400 42.180 11,750 British Museum acquisition grant British Museum PAS grant Buckinghams County Council Contribution to MEND application DCMS Mend Fund 15,000 7,333 20,000 60,000 27,899 6,400 42,180 11,750 Friends & Patrons of the Museum Headley Trust acquisition grant National Heritage Lottery Fund - Bucks Heroes Project V&A acquisition grant Muir Trust Art Fund 101,840 190,562 292,402 4. Income from Other Trading Activities 2025 2024 Unrestricted Unrestricted funds funds Shop income Catering Room Lettings Art sale proceeds Family activities and misc income Schools Income Admissions income 7,775 20,250 14,537 3,931 14,260 42,780 74,770 411,226 3,083 20,125 10,425 17,818 7,130 9,875 14,778 38,252 84,339 437,052 4,085 18,949 Payments from government or public authorities other income Income from SL4s 612,737 642,703 5. Investment Income 2025 2024 Unrestricted Unrestricted funds funds Bank interest receivable 3,588 2,434 Page 16

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 6. Other Income 2025 2024 Unrestricted Unrestricted funds funds Museum and gallery tax relief 95,989 17,924 7. Net Income/(Expenditure) The net expenditure is stated after charging/(crediting): 2025 2024 Depreciation of tangible fixed assets - owned 3,540 3,620 8. Analysis of Expenditure 2025 Activities undertaken directly Support costs {see note 9) Total Raising funds Reflecting the people. culture and landscapes in Buckinghamshire 12,817 910.221 12,817 924.159 13,938 923.038 13,938 936.976 2024 Artivities undertaken directly Support costs {see note 9) Total Raising funds Reflecting the people, culture and landscapes in Buckinghamshire 16,495 994,068 16,495 1,021,357 27,289 1,010,563 27,289 1,037,852 9. Support Costs 2025 Reflecting the people, culture and landscapes in Buckinghamshire General administration 9,245 4.693 Governance costs 13,938 Page 17

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 2024 Reflecting the people, culture nd landscapes in Buckinghamshire General administrdtion 8,531 18,758 Governance costs 27,289 10. Independent Examiner's Remuneration 2025 2024 Independent examination of the financial statements 1,600 1,600 I l. Staff Costs Staff costs were as follows.. 2025 2024 Wages and salaries Social security costs Other pension costs 564.995 42.246 48,709 498.600 32,230 50,956 655,950 581,786 The number of employees whose employee benefits (excluding employer pension costs) for the reporting period exceeded £60,000 was.. 2025 2024 £60,000 to £69,999 12. Average Number of Employees Average number of employees during the year was- 32 (2024- 31) 13. Tangible Assets Fixtures & Fittings Cost As at l April 2024 67,294 As at 31 March 2025 67,294 Depreciation As at l April 2024 Provided during the period 62,137 3.540 As at 31 March 2025 65,677 Net Book Value As at 31 March 2025 1,617 As at l April 2024 5,157 Page 18

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 14. Heritage Assets Artefacts Cost As at l April 2024 1,350,380 As at 31 March 2025 1,350,380 Net Book Value As at 31 March 2025 1,350,380 As at l April 2024 1,350,380 Heritage assets are included at cost. In the year ended 31 March 2017 the museum was successful in acquiring the Lenborough Hoard at a cost of £1,350,000. The Trustees do not consider depreciating this asset is appropriate as the residual value is deemed to equal the cost paid and there is no indication the value will have fallen. 15. Stocks 2025 2024 stock 1,565 2,222 16. Debtors 2025 2024 Due within one year Trade debtors 41,871 105,306 15,155 52,072 other debtors 147,177 67,227 17. Creditors: Amounts Falling Due Within One Year 2025 2024 Trade creditors 26,215 12,708 20,920 55.472 12,429 23.434 Other creditors Accruals and deferred income 59.843 91,335 18. Pension Commitments The charitable company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charitable company in an independently administered fund. During the year the charge to the statement of financial activities in respect of defined contribution schemes was £48,709 {2024- £50,956). At the balance sheet date contributions of £2,133 (2024- £1,922) were due to the fund and are included in creditors. Page 19

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 19. Movement in Funds As at l April 2024 Asat31 Expenditure March 2025 Income Unrestricted funds General.. General unrestricted fund Restricted funds 199.562 828.662 {867,8881 160,336 Bucks Heroes Discover Bucks Galleries (14.172) 19,150 2.255 1,348,250 (261) {2,771) 17.705 13,5331 (15,605) (12,6331 3,545 12,656 1,348,250 Friends Projects Lenborough Hoard Muir Trust Portable Antiquities Acquisitions Art Fund 23.034 4.891 30,468 2.980 27,000 14,6301 (27,697) 14,9901 (2.010) 27,000 Total restrirted funds 1,352,451 106,078 (69,088) 1,389,441 Total funds 1,552,013 934,740 1936,976) 1,549,777 As at l April 2023 Asat31 Expenditure March 2024 Income Unrestricted funds General.. General unrestricted fund Restricted funds 194.331 772.214 {766,9831 199,562 Bucks Heroes 37.776 (51,9481 (63,608) 18,1691 (27,375) {2611 (29,508) (30,0001 (60,000) 114.172) 19,150 2,255 1,348,250 (261) (2,771) Discover Bucks Galleries 82,758 Friends Projects Lenborough Hoard Muir Trust Portable Antiquities MEND Fund Halton Storage 10.424 25,625 1,350,000 26,737 30.000 60,000 Total restricted funds 1,432,758 190,562 1270,869) 1,352.451 Total funds 1,627,089 962,776 (1,037,852) 1,552,013 20. Transactions with Trustees None of the trustees received any remuneration or any other benefits from an employment with the charity or a related entity during the current or previous year. No trustee expenses have been incurred. Page 20

The Buckinghamshire County Museum Trust Notes to the Financial Statements (continued) For The Year Ended 31 March 2025 21. Related Party Disclosures Key management personnel (including directors) received compensation of £74.350 (2024: £72,702) 22. Company limited by guarantee The company is limited by guarantee and has no share capital. Every member of the company undertakes to contribute to the assets of the company. in the event of a winding up, such an amount as may be required not exceeding £1. Page 21

The Buckinghamshire County Museum Trust Detailed Statement of Financial Activities (including Income and Expenditure Account) For The Year Ended 31 March 2025 2025 2024 Total funds Total funds INCOME AND ENDOWMENTS FROM: Donations and legacies Donations from individuals 10,424 4,084 207,918 7,313 Legacies Grants 292,402 222,426 299,715 Other trading activities Shop income Catering Room Lettings Art sale proceeds Family attivities and misc income Schools Income Admissions income Payments from government or public authorities Other income 7,775 20,250 14,537 3,931 14,260 42,780 74,770 411,226 3,083 20,125 10,425 17.818 7,130 9,875 14,778 38,252 84,339 437.052 4,085 18.949 Income from SLAS 612,737 642,703 Investments Bank interest receivable 3,588 2,434 3,588 2,434 Other Museum and gallery tax relief 95,989 17,924 95,989 17.924 934,740 962,776 EXPENDITURE ON: Raising funds Cost of direct charitable activity (12,817) (16,495) (12,817) (16,495) Charitable Activities: Reflecting the people. culture and landscapes in Buckinghamshire Cost of dirert charitable activity Wage5 and salaries Employers Nl Employers pensions - defined contribution schemes Depreciation {250,7311 {564,9951 (42,246) (48,7091 (3,540) (408,662) (498,600) (32,230) 150,956) (3,620) .CONTINUED Page 22

The Buckinghamshire County Museum Trust Detailed Statement of Financial Activities (including Income and Expenditure Account) (continued) For The Year Ended 31 March 2025 Independent examiner's fees Finance Governance costs (1,600) 17,6451 (4,693) (1,600) (6.931) (18,758) 1924, 159) { 1,02 1,357) 1936,9761 { 1,037.852) NET EXPENDThURE (2,236) (75,0761 Page 23

-pdf_preview_8 Final Audit Report 2025-12-22 Created.. 2025-12-Z2 By.. Car(Aine Clathe IcArolinec@andrewwells.u).ukl Status.. Signed Transaction ID.. CBJcHBCAABMb011FHxBWRnvlw1-zr8PqSB4￿cEVX2G -pdf_preview_8" History Documenl created by Caroline Clarke ([e-mail]) 2025-12-22- 12'.55=20 PM GMT- IP addre5s= 5.159.200.147 Document emailed to Robert Sutcliffe {[e-mail]) for signature 202>12-22- 12.'55=23 PM GMT Email viewed by Robert Sutcliffe ([e-mail]) 202>12-22- 1'.17'.04 PM GMT- IP address: 172.224.227.30 Signer Robert Sutcliffe {[e-mail]) entered name at signing as Robert K Sutcliffe 202&12-22- 1'.52'.57 PM GMT- IP address: 86.142.59.198 èo Document e-signed by Robert K Sutdiffe ([e-mail]) Signature Dale: 202&12-22- 1..52:59 PM GMT- Time Swr(t.' server- IP a(1d￿$S.. 86.142.59.198 Agreement completed. 202&12-22- 1..52..59 Phl GMT