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← Migration Museum Project

2025-03-31-accounts

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

TRUSTEES’ REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

Registered Company No: 08544993 Registered Charity No: 1153774

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

YEAR ENDED 31 MARCH 2025

CONTENTS Page
Reference and administrative information 1
Chair’s foreword 2
Trustees’ report 4
Independent auditor’s report 16
Statement of fnancial activities 20
Balance sheet 21
Statement of cash fows 22
Notes to the fnancial statements 23

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

REFERENCE AND ADMINISTRATIVE INFORMATION

FOR THE YEAR ENDED 31 MARCH 2025

Trustees Charles Gurassa (Chair)
Mohan Mansigani OBE OStJ (Treasurer)
Sarah Caplin
Professor Margot Finn
Nilufar Fowler
Eric Langham
Professor David Olusoga OBE
Robert Winder
Robert Pierre
Angela Cluf (Appointed 27 March 2025)
Kuljit Jackson (Resigned 7 September 2024)
Ayesha Hameed (Resigned 7 September 2024
Company Secretary and CEO Sophie Henderson
Charity Registration Number 1153774
Company Registration Number 08544993
Principal Address and Registered Ofce
 107-111 Fleet St
London
EC4A 2AB
Independent Auditor Safery LLP
71, Queen Victoria St
London
EC4V 4BE
Bankers The Co-operative Bank
P O Box 250
Skelmersdale
WN8 6WT

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MIGRATION MUSEUM PROJECT (A company limited by guarantee)

CHAIR’S FOREWORD

FOR THE YEAR ENDED 31 MARCH 2025

This has been a year of significant progress for the Migration Museum. We reflected on the end of five wonderful years in Lewisham at our Closing Celebration; a joyful opportunity to thank all of the visitors, contributors, and funders who have so generously supported us during this time.

Our Front of House team won the Best Visitor Welcome award at the 2025 Museums and Heritage Awards, a fitting recognition of the warmth and experience of our team in making visitors from all backgrounds feel comfortable and enriched by their visits throughout our time in Lewisham.

Our final exhibition in Lewisham, All Our Stories: Migration and the Making of Britain, brought together highlights from the Migration Museum's work over the past decade alongside new stories and artwork that highlighted just how central migration is to our lives. We also delivered our first community-curated exhibition Inside/Outside And All In Between, enabling us to develop new practices of co-creation and to forge even stronger links with the communities who have so generously welcomed and supported us over the last five years.

Our fundraising drive to deliver our permanent home in the City of London has continued in earnest. We were delighted to confirm the Portal Trust as our inaugural donor, with a significant gift of £0.5 million towards our award-winning learning programme and the creation of a dedicated learning suite. We received a significant new grant from the City Bridge Foundation for community engagement work, were supported by the Eastern Cluster Business Improvement District to deliver our Annual Lecture at the historic Merchant Taylors Hall, and were warmly hosted for a fundraising dinner at the Old Bailey by the Sheriff of London. We look forward to working with all our friends and supporters over the year ahead in raising the funds necessary to enable the Migration Museum to open in its new permanent home in early 2028, It's a significant challenge but, with the energy and enthusiasm that has characterised the project since its inception, one that is eminently achievable. A special thank you goes to Sukhpal Ahluwalia and family for their support in helping us create a landmark national Migration Museum with a permanent home in the heart of the City of London.

Ahead of our move to the City of London, we have continued to cultivate relationships with the City of London Corporation and representatives from across the political spectrum. We were invited by the members of the City of London Corporation to participate in their Culture and Education Strategy Committees, and Baroness Janet Whitaker hosted a Parliamentary reception in the House of Lords for our benefit, with a view to strengthening support from parliamentarians from both Houses, the Corporation of London and the Greater London Authority.

We celebrated further fundraising success in the form of a funding award from The National Lottery Heritage Fund to support the development of our collections, curatorial and interpretation strategy in advance of our move to our permanent home, working alongside national partners with collections of historic and contemporary significance to uncover migration-related heritage. And we received three-year support from the John Ellerman Foundation for our knowledge-sharing, sector-supporting Migration Network.

As we look ahead in an environment in which yet again migration issues are dominating political and public discourse, we are all the more emboldened as to the importance of delivering a permanent Migration Museum for Britain. A place where this rich, important and very human story can be explored and better understood, an inspiring, permanent cultural institution that puts Britain's migration story at centre stage - where it belongs.

Sadly Sophie Henderson, one of the founders of the Migration Museum and its Chief Executive since inception had to stand down in June 2025 for health reasons after 10 years in the role. We will be forever grateful for her inspirational leadership which has steered the project from an initial idea to the thriving cultural institution it is today.

A huge thank you is owed to all who have supported us on our journey so far, and to the brilliant team at the Museum. The successes of the last year are down to their extraordinary dedication, creativity and resilience.

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MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

CHAIR’S FOREWORD

FOR THE YEAR ENDED 31 MARCH 2025

Finally, I would like to thank my fellow trustees for their contributions and look forward together to delivering a permanent home for Britain's missing museum.

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Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A Company Limited by Guarantee)

TRUSTEES’ REPORT

FOR THE YEAR ENDED 31 MARCH 2025

Introduction

The Trustees, who are also Directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the Charity for the year ended 31 March 2025. The Trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (second edition effective 1 January 2019).

The Migration Museum Project is a private charitable company limited by guarantee. The Directors of the charitable company are its Trustees for the purpose of charity law. None of the Trustees has any beneficial interest in the company.

Objectives and Activities

Our purpose

Our mission is to deliver Britain's missing museum: a moving and inspiring cultural institution to put Britain's migration story - of the movement of people both to and from the country across the centuries - at centre stage, where it belongs. By creating a welcoming, creative environment in which to explore how migration has shaped who we are - as individuals, communities and nations; by showing how this story is relevant to each of us personally; and by building knowledge and skills to equip us to talk and live well together on the topic of migration, we can build knowledge and appreciation of our shared migration history, contribute to a better public conversation about migration, and encourage a greater sense of representation and belonging. Our vision is of a society in which each of us feels personally connected to, and owns, our migration story as an essential part of British history. Our values inform our approach to be human, innovative, conversational, open-minded and inclusive.

Work continued apace this year to prepare for and develop our permanent home. Planning was secured in 2023 for the cultural offer within a new development, being built by Dominus Real Estate in the heart of the City of London, due for completion in 2028. Since 2017, and in anticipation of opening this space, we have engaged audiences and learners and experimented in a series of temporary homes. From February 2020 to March 2025, the Museum was based at a temporary venue within a busy London shopping centre in Lewisham, welcoming more than 60,000 visitors per year, and delivering an award-winning, criticallyacclaimed cultural programme of exhibitions and events, and a learning programme reaching 7,000 young people each year. Drawing on our experience of operating a museum in a non-traditional location (a shopping centre) and engaging audiences who are much more ethnically and socio-economically diverse than the average for London museums, our long-term plan is to create pop-ups in shopping centres and retail environments across the UK, so as to achieve national reach and bring our museum to where people already are.

Our ambitious vision is that our permanent London site will form part of a vibrant ecosystem consisting of national pop-up hubs, a dispersed Migration Collection of objects, artworks and stories held by us and by museums and heritage organisations across the UK, a sector-supporting knowledge and skills-sharing Migration Network, a nationally significant learning programme and a wide-reaching digital presence. All our activities are divided into workstreams designed to deliver the following organisational objectives:

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MIGRATION MUSEUM PROJECT (A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Achievements and Performance

1 Introduction

This has been a year of significant movement and change for the Migration Museum: celebrating all that we have learned and achieved to date, experiencing the sadness of leaving our Lewisham home, while setting our sights firmly on our arrival in the City of London and scaling up our activities to ensure a truly national presence and impact. We have been delighted to have been so warmly welcomed by so many City of London institutions and future neighbours. We were thrilled to confirm an inaugural donation to our permanent home from the Portal Trust, who are generously funding a classroom and our education programme. We received a significant new grant from the City Bridge Foundation for community engagement work, were supported by the Eastern Cluster Business Improvement District to deliver our Annual Lecture at the historic Merchant Taylors Hall, were warmly hosted for a fundraising dinner at the Old Bailey by the Sheriff of London, and invited by the members of the City of London Corporation to participate in their Culture and Education Strategy Committees. Working closely with cultural consultants Barker Langham, we further refined our interpretation planning, design work and business modelling for our permanent home.

We embarked on a new project, supported by the National Lottery Heritage Fund, to research and build a national Migration Collection for the UK with partners from across the country, delivered several hugely popular Migration Network events, shared our insights and ideas at national museums sector, education and history conferences, and made significant progress in developing a new brand and website which will dramatically increase our visibility and set us up for success as an innovative, participatory, and nationally and internationally recognised institution.

Our All Our Stories exhibition in Lewisham welcomed 33,000 visitors and showcased our 'greatest hits'; the exhibits and installations that have been most successful in their ability to inspire and delight audiences over the last ten years, alongside new commissions which reflected the full range of what a Migration Museum can do and our commitment to constantly incorporate new perspectives, artists and artforms into our work.

Our innovative Community Curators programme, leading to our Inside/Outside and All In Between exhibition, enabled us to develop new practices of co-creation and to forge even stronger links with- and celebrate the stories and talents of- the local Lewisham communities who have so generously welcomed and supported us over the last five years. We were awarded the Best Visitor Welcome award at the 2025 Museums and Heritage Awards, in recognition of the warmth and expertise of our team during the previous year - and the duration of our time in Lewisham - in making visitors from all backgrounds, feel comfortable and enriched by their visits.

We are hugely grateful to our strategic partners, without whom we could not deliver a permanent Museum in the heart of the City of London. Notably, Dominus Real Estate who has afforded the Museum a generous opportunity for a permanent home as well as providing philanthropic support. Landsec continued to provide our temporary home in Lewisham Shopping Centre free of charge. Barker Langham has provided extensive support with cultural, business and operational planning for our permanent home. Hogan Lovells LLP has been a long-standing supporter of the Migration Museum and provides pro bono legal advice in a range of areas, as well as meeting room space. And we were delighted to be offered a pro bono branding refresh by global brand agency, Landor, which, at year's end, was ongoing.

2 Permanent home

In February 2023, the Corporation of London's Planning and Transportation Committee approved planning consent for a new block of student accommodation to be built at 65 Crutched Friars in the City of London's Aldgate ward, just south of Fenchurch Street, with the Migration Museum as the proposed cultural operator .The scheme subsequently won the award for Planning Permission of the Year at the Planning Awards 2024. We are immensely thankful to Dominus for their generous support package, consisting of delivery of a brandnew building, built to the Museum's specifications so as to be fit for purpose across a range of functions, a rent and service charge free term of 60 years, underwriting of the Museum's operating costs so as to guarantee free admission for the first five years of operation, and a donation of £500,000 to kick start the

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MIGRATION MUSEUM PROJECT (A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

capital campaign. An attractive feature of the Museum will be a curated exterior courtyard, creating a porous entrance where visitors can linger, with seating, planting, commissions and events. At year's end, construction on the site was well underway, with the team able to take a hard hat tour to see the progress.

The permanent museum's operational and business plan includes a 'pay what you can' model for admissions to guarantee free access, reflecting our commitment to breaking down barriers and being a welcoming place for everybody, including those who are not habitual museum-goers. We recognise that we will have to work hard to attract these audiences to our new home in the City of London, which has a very different demographic and economic profile to our previous home borough of Lewisham, and will employ the wealth of experience we have built up engaging 'non-traditional' museum visitors at our temporary home in Lewisham from 2020. We have also built a proven track record of reaching 'high arts engaged' audience groups (according to Audience Agency segmentation) during our five years in Lewisham - visitors from the Audience Agency's 'high engagement' segments accounted for more than half of our evaluated visitors in Lewisham. The central London location of our permanent museum, with excellent transport links, will make our museum more accessible to larger numbers of visitors from across London and beyond (see Audience Development and Community Engagement section for more details).

Our cultural programme will incorporate an immersive core exhibition that explores the long history of migration to and from Britain; a series of changing and topical temporary exhibitions and events including performances, films, talks, day festivals, creative workshops and demonstrations; curated exhibition tours; and guided local walks exploring the rich migration history of the City and East End. We aim to attract well over 100 thousand visitors annually including 24,000 learning visitors, delivering school, college and university workshops from our state-of-the-art flexible learning suite.

Our successful funding application to the National Lottery Heritage Fund enabled us to progress our plans to better understand existing migration collections, build heritage partnerships nationally, pilot a digital model for a 'dispersed' migration collection, develop our own collections policy, and build our organisational expertise and resilience. We brought in a Collections Researcher to lead this work, and a new Digital Product Manager. We were able to benefit from the huge enthusiasm and expertise of researchers on placement, working with the White Rose Doctoral Training Partnership.

We have established a content advisory panel to support the curation of the permanent home. Members include Becky Taylor (UEA), Brian Donovan (Findmypast and EPIC The Wish Emigration Museum), Cangbai Wang (University of Westminster), Claire Alexander (University of Manchester), Martin Spafford (GCSE History teacher), Michaela Benson (University of Lancaster), Nadia Valman (QMUL), Panikos Panayi (De Montfort University) and our Trustees Robert Winder (author) and Margot Finn (UCL). David Olusoga (trustee, University of Manchester), Turi King (University of Bath) and Patrick Vernon (social commentator, campaigner and cultural historian) will also support. The group will meet three times a year. Our People Panel, which we will recruit for next year, will also serve as an advisory group.

3 Cultural Programme

Exhibitions

All Our Stories: Migration and the Making of Britain

Opening in September 2024, this exhibition set out to show visitors the breadth of what a Migration Museum can do and the many stories, questions and challenges that we can creatively illuminate and generate conversations around.

We commissioned BAFTA-nominated director and artist Osbert Parker to produce Tapestry of Time , a new mixed-media animated timeline, charting the long history of migration to Britain and demonstrating the cyclical nature of Britain's migration story. This was in response to considerable visitor feedback, particularly from learning groups, that they would like to see a fuller picture of migration over a long time period. It captured the many people, communities and important events that have shaped Britain from the Ice Age to the present day, and our front-of-house team reported that it significantly increased dwell time in the Museum.

Interactive Content Designer Raül Leiva was commissioned to develop an interactive kiosk for visitors to

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(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

engage digitally with our collection of 7,000+ migration story discs for the first time. Visitors were encouraged to search and explore the collection, as well as voting for their favourites and even contributing their own. Using Al, integrated machine learning and key words, the interactive allowed visitors to create meaningful and intuitive connections between migration stories based on their own areas of interest and emotional resonance, enhancing the wider storytelling experience of the exhibition by encouraging consideration of the many and varied reasons behind why people migrate, different experiences of arriving and settling, and the complexities of identity and belonging. This digital kiosk was displayed alongside an evolving physical display of story discs contributed by visitors to the exhibition, all of which have become part of our growing collection.

The exhibition also featured a large fantastical depiction of an airport departures lounge by renowned artist Jiro Osuga, creative explorations of the many different types of journeys that people take to migrate, stirring personal storytelling around what people bring with them and leave behind, the experiences and media portrayal of arrivals and what it means to be settled, or unsettled, and the profound questions facing British identity today. We also showcased our own journey from our first exhibition, 100 Images of Migration , crowdsourced and launched in partnership with the Guardian in 2013, to visualisations of our future permanent home, reminding visitors of how the concept of a Migration Museum has gained traction over the last decade and inviting people to share their ideas and join us on our next step.

We welcomed 33,000 visitors to All Our Stories , including 3,340 students through our learning programme. All Our Stories received extensive, positive media coverage, including a five-star review in Londonist and features by the news agency AFP (picked up by news organisations and publications globally), Artnet, the Big Issue , Eastern Eye, BBC Radio London, the South London Press , Vogue Italia and more. The exhibition also featured in, and served as a highly relevant contextual setting for, an Archive on 4 documentary on BBC Radio 4 exploring how the sea has shaped the British Isles, and a BBC London news feature on the changing face of London and its long history of immigration, which aired on BBC One.

Inside/Outside and All in Between

Alongside the public opening of All Our Stories, we launched the first exhibition in our new Community Space, and the first curated by our Community Curators. Inside/Outside and All In Between featured work by artists with lived experience of migration and a personal connection to Lewisham.

In February 2024, we engaged five Community Curators, selected from an open call with 81 applicants, to build their own skills and curate a designated space in the Museum. Each Community Curator had personal experience as a first- or second-generation migrant or refugee (from Kosovo, Bangladesh, Chile, Hong Kong, Ivory Coast and The Bahamas), a strong connection to Lewisham, no previous formal curatorial experience, and a passion to serve the local community. The group were supported to develop a concept together, and with a skills-building programme delivered in partnership with established curators, including from the Tate and National Portrait Gallery. The Community Curators launched an open call for artists with a connection to Lewisham to showcase their work responding to the exhibition's title of Inside/Outside and All In Between and received 137 applications, from individual artists as well as local organisations including The Albany and a group of ESOL (English for Speakers of Other Languages) students from Lewisham College.

The exhibition generated a huge buzz on its opening night and received extremely positive responses from visitors, artists and contributors. Community Curator interviews after the programme showed the positive impact of their involvement, with one commenting that it was "life-changing". Other responses to the exhibition included:

'It was a privilege to be part of something so collaboratively shaped'

'This exhibition will bring humility to how you see your own community; to how you engage and interact. But it'll also fill you with hope and a sense of possibility."

'The most authentically community based exhibit I have ever seen. It made me cry, research, think, and enthuse - all on the same visit.'

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TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Heart of the Nation: Migration and the Making of the NHS

Our first touring exhibition completed its final leg in Lewisham in July 2024. Heart of the Nation: Migration and the Making of the NHS, launched in the 75th anniversary year of the NHS, explored the stories and experiences of the migrant healthcare workers who have built and have sustained our health service, at all levels, since its inception in 1948. This exhibition, which won the prestigious Museums and Heritage Awards Temporary or Touring exhibition of the Year award for 2024, was also designed to be a pilot for our long-term ambition to achieve national reach and relevance through city-centre hubs across the UK. The exhibition was on show for three months each at Leicester Museum & Art Gallery and at a Migration Museum pop-up in Trinity Leeds Shopping Centre, drawing a total of 40,000 visitors, before finishing its run in Lewisham for 5 months, where we added a children's play area and a number of local stories and welcomed 16,000 visitors.

Heart of the Nation built on a digital exhibition created by the Migration Museum during the 2020 Covid-19 pandemic, and was updated and transformed into a physical exhibition with dozens of personal stories contributed by people who have come from all over the world to work at all levels of the NHS, from the 1940s to the present day, together with photography, film, newly commissioned artwork, unique artefacts and historical ephemera. The centrepiece was a newly commissioned interactive music and video installation, SPEAK, co-created and performed by seven NHS workers, exploring themes of care through singing and storytelling, in collaboration with singer-songwriter Kaia Laurielle and filmmaker Emmanuel Sugo. Visitors finished the exhibition by contributing their stories, experiences of care and messages for NHS workers who have cared for them to an evolving participatory installation. An emotional closing event featured a performance from the SPEAK choir and speeches from storytellers who featured in the exhibition.

Evaluators finalised a detailed report which has given significant insight into the ways that this type of touring project can have the most impact, and the ways that we might want to embark upon our UK-wide 'hubs' model in the future.

Events

Our exhibitions provided the backdrop for a wide variety of engaging events. All Our Stories was opened in London by BBC News presenter and author Reeta Chakrabarti, and artist EVEWRIGHT, and we celebrated its closing and the end of our time in Lewisham with an evening celebration for contributors and friends of the Museum who had contributed to so many of the works and projects which featured in the exhibition. We also staged a 'Thank You, Lewisham' day-long family event on Saturday 29 March 2025, attended by 804 visitors over the course of the day and with multiple workshops, talks and activities.

In November 2024, we delivered 'Roots and Routes', a free, all-day event exploring family histories and migration in partnership with The National Archives, and involving local and national organisations. It provided visitors with opportunities to build general knowledge about how to start researching family histories alongside more in-depth, specialist advice via bookable workshops, creative activities, and a talk by genealogy expert Paul Crooks. The event enabled us to deepen our relationship with The National Archives, building on a successful drop-in event we co-hosted last year, build relationships with local and national archives and genealogy specialists, and gather feedback on what our future family history offer should be. The event attracted a strong turnout, with 574 visitors - 86% of whom had visited us that day specifically to attend the event. Feedback was very positive, with the vast majority reporting feeling more knowledgeable, more confident and more enthusiastic about exploring their family history, and 80% keen to be able to access family history records and advice in our permanent home.

Sunder Katwala, director of the think tank British Future, delivered our Annual Lecture in November 2024 entitled 'Does the history of migration shape its future?' chaired by author and journalist Rafael Behr. We hosted the lecture in the Merchant Taylors' Hall in the City of London, and it was well-received, with plenty of questions and a networking drinks reception afterwards. We were extremely grateful to the Eastern City Business Improvement District for sponsoring the event.

In January, we co-hosted a day-long event with the Paul Hamlyn Foundation, attended by 85 participants. Beyond Borders : creative visions for equitable futures featured panel discussions and interactive workshops led by artists, activists, and organisers from the migrant justice movement, as well as tours of our exhibitions.

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MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

4 Audience Development and Community Engagement

Museum visitors

In Lewisham, we continued to engage general audiences who differ markedly from those of other museums and heritage sites, and who are significantly underrepresented within the sector. Visitor evaluation in consultation with The Audience Agency showed that our audiences are younger (47% aged 16-34, VS. 23% average for London museums), much more ethnically diverse (41% non-white, compared with 19% average for London museums) and much more representative of the actual population profile of both Lewisham and London.

Whilst our offer attracts a much higher proportion of 'low engagement' audiences according to the Audience Agency's Audience Spectrum segmentation compared with other London museums (41% vs 14%), we also have strong appeal (53%) to 'high engagement' segments, in line with the London population but lower than the average for London museums (65%). Most of our general audiences in Lewisham are local, with 91% coming from London and 48% from Lewisham, with 53% 'destination' visitors, vs. 47% who are passersby. Our events programme attracts a far higher proportion of 'destination' visitors: 77% of evaluated event visitors visited us specifically to attend the event.

We continued to welcome local groups, including Lewisham Education Arts Network (LEAN), Lewisham Refugee and Migrant Network, and Lewisham College ESOL and SEND (Special Educational Needs and Disabilities) groups, and hosted the Lewisham Cultural Partnership Summit, stewarded by Lewisham Council and The Albany. The Museum also played host to a number of groups from the Home Office, including welcoming Seema Malhotra, then Parliamentary Under-Secretary of State for Migration and Citizenship, and members of their Migration and Citizenship team and Windrush Unit. Tours of our exhibition and workshop sessions provided a relevant backdrop for their discussions. Other groups welcomed included LGSMigrants, Disrupt Space, OMNES Education, UCLH Arts, and London Air Ambulance.

Euro 2024 Football Campaign

Our England without immigration social media and out-of-home advertising campaign highlighting how migration has shaped the England men's football team, created with Wonderhood Studios to accompany the 2024 Euros, went viral, reaching more than 14m people organically on social media and significantly increasing our following on Instagram. For the quarter finals and finals, pre-, during- and post-game assets were shown on 650 screens in more than 250 pubs and venues across the country.

The campaign was long-listed in the Digital Marketing category for the Art Council England's Digital Culture Awards. It also attracted significant media coverage, including on the Today Programme on BBC Radio 4, Sky News, Euronews and The Media Leader, and was selected as Campaign and The Drum's Ad of the Day, and as one of the five best July campaigns by PR Week.

PR Moment said:

From previous Stunt Watches, I have an obvious barometer of success... whether it was being shared in Whatsapp groups and socials outside of our PR bubble, and I saw it everywhere. It triggered discussion and highlighted an important truth that rejects some of the vitriol we've consistently been told in the press and on socials.

Digital Footprint Development

Boosted by a Capital Infrastructure Grant from Arts Council England, over the next three years we aim to create a cutting-edge digital footprint for the Migration Museum reaching an online audience of at least 5 million by 2027/28. It will include a fully accessible user interface, with the ability to host interactive creative content, including our digital 'collection', reach across multiple geographic locations and drive dynamic datadriven audience engagement, including integrated ticketing, CRM, retail and donations. We aim to launch a new-look website in 2026 and to begin a movement-building project to raise engagement and awareness of the permanent home shortly after.

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MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Our learning resource bank was viewed 2,500 times, and resources created by our own learning team downloaded via Teachit. Our six-part Departures podcast series, that accompanied our 2020-1 exhibition of the same name about the long history of British emigration, was downloaded more than 3,000 times during the year. Our online Heart of the Nation exhibition also continued to be popular, engaging over 8,000 users, with its accompanying Spotify playlist growing steadily to more than 10,000 followers. On social media, our followers on Instagram grew 18% during the course of the year to 27,200, boosted by our England without immigration campaign during Euro 2024; we doubled our follower count on LinkedIn to over 5,000 users; and our newly launched Bluesky account gained 5,000 followers. Our Tik Tok content reached 38,000 people.

Integrating Instagram's collaboration feature into our social media strategy enabled us to translate our partnerships with artists (including The Singh Twins, KV Duong and Ella Krispel), Community Curators, Migrant Makers (MorleysorLess, WildChai) and other museums and heritage organisations (British Museum) seamlessly to our digital channels. This approach has allowed us to reach new audiences, with our collaborative post with the British Museum reaching 90,000 accounts, over 90% of which were non-followers. We also won the Digital Culture Network Award for driving impressive revenue growth in our online shop using social media advertising campaigns.

5 Learning

Charity Award for Education and Training

Our Learning Team received national recognition this year, winning the Education and Training category at the prestigious Charity Awards. The judges praised the programme for its innovation, its sustainability in terms of providing teacher training on a highly relevant yet potentially contentious subject, and its focus on storytelling that centres lived experience.

Karin Woodley, chief executive of Cambridge House and one of the judges, commended the programme for approaching migration through the lens of the UK's development rather than individual populations, noting its "excellent knowledge-sharing and outcomes" in a "difficult and potentially contentious area of work". She also highlighted the rare achievement of a cross-curricular approach, training teachers to see migration as relevant across the curriculum. Charity Awards judge André Clarke, director of charity development at Lloyds Bank Foundation, described the use of storytelling as "simple and powerful," particularly in light of highly polarised and often toxic debates on migration.

Student Learning

To coincide with the launch of All Our Stories , we created a new interactive learning space in Lewisham, with a timeline and world map, from which we drew insights to inform design of the learning suite in our permanent home.

Over the year, the team welcomed 4,204 education visitors to Lewisham. Analysis by The Audience Agency showed:

New evaluation methods, including pre- and post-visit forms, showed that students leave with more positive attitudes towards migrants, greater knowledge of migration, and more nuanced language to discuss it.

We successfully trialled new GCSE workshops with 300 pupils, designed to build historical skills such as comparing issues over time, and expanded outreach GCSE sessions. Evaluation of GCSE sessions showed:

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MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Training and Professional Skills Development

We delivered teacher training with excellent feedback in Cornwall (with Princes Training Institute) and the North West (with Historic England Heritage Schools). Evaluation of the programme demonstrates the impact of our training, with 98% of teacher participants indicating that they would recommend our learning programme to others, 96% expressing that they felt supported in teaching migration-related topics, and 71% reporting an increase in their confidence in teaching the subject. One teacher reflected:

‘In all of my 20 years teaching experience, I have never left so inspired and motivated to be a force for change.. the training taught me so much in how to harness and tap into personal experiences in order to engender understanding and empathy. I sincerely hope that I can replicate and inspire this through my teaching.’

The team spoke at the Geographical Association Conference and the Schools History Project conference, and partnered with the Group for Education in Museums (GEM) to host a Migration Network webinar for museum learning practitioners. Meanwhile, Oxford University Press featured our Head of Learning as an expert in its KS3 Migration Nation textbook digital resources, reaching teachers nationwide.

The programme was observed as a case study in a collaborative research project led by the University of Oxford's Department of Education, University College London (UCL) and the Institute of Education, examining how schools teach empire, migration and belonging. Findings will be published in 2026. The team have also been working in partnership with the British Library (BL) to create a teacher toolkit to accompany the BL's bank of migration-related resources, including historic and contemporary records from their collection. The toolkit will explore themes such as facilitating difficult conversations, dealing with racist language and imagery in source material, and challenging myths, narratives and stereotypes. The toolkit will be published in 2026.

6 Fundraising, Development and Partnerships

Baroness Janet Whitaker hosted a Parliamentary reception in the House of Lords for our benefit, with a view to building support from parliamentarians from both Houses, the Corporation of London and the Greater London Authority. Baroness Whittaker and the Lord Speaker, Lord McFal, spoke at the reception, as did Dr Debbie Weekes-Bernard, Deputy London Mayor for Communities and Social Justice, our Trustee Professor David Olusoga OBE, and our CEO Sophie Henderson. We were able to deepen relationships with many supportive peers and MPs and to make new introductions, including Seema Malhotra, then Home Office Minister for Migration and Citizenship.

Sheriff and Alderman of the City of London Bronek Masojada and artist Jane Masojada generously hosted a fundraising and networking dinner for us at the Old Bailey. The Sheriff gave a fascinating behind-the-scenes tour and Trustee Professor David Olusoga OBE gave a rousing speech about the potential of a Migration Museum. The evening was finished with a performance of SPEAK, a new composition co-created with NHS workers from our Heart of the Nation exhibition by musician and songwriter Kaia Laurielle.

We developed a number of assets to share to build awareness of and excitement for the arrival of the Migration Museum at events in the City, including a promotional film to be shown at events and shared with potential backers, and sponsorship brochures and materials to launch our Founders' Circle next year. Our income was £ 1.4 million this year, reflecting a sustained increase in fundraising since our permanent home was announced.

Notable funding successes during the year were from Portal Trust coming on board as an inaugural donor to support our learning programme in the permanent home; National Lottery Heritage Fund to support our collections research and development; Arts Council England to support our All Our Stories exhibition; City Bridge Foundation to support community engagement in the City and neighbouring boroughs, including Inside/Outside and All in Between; Kusuma Trust for All Our Stories; John Ellerman Foundation for threeyear support for our Migration Network; and Stelios Philanthropic Foundation for our permanent home.

Our Migrant Makers' Market concept shop, which sells products by migrant artists and makers and migrant led-brands, with migration stories attached, drove most of our earned income, which increased 29% overall

Page | 11

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

compared with last year, and also included modest income from education sales, venue hire and events. Last year, our shop won the award for Best Shop at the Cultural Enterprises Awards, with our Retail Manager, Katy Clinch also winning the Rising Star award. This year, she was invited back as a judge for the competition. Our shop performance improved over the year, despite the Museum being open fewer days, with sales increasing by 25% to £130,000.

7 Trustees, Staff and Volunteers

We were pleased to welcome Angela Cluff, a fundraising consultant specialising in Major Donors formerly with senior roles at NSPCC, where she played a leading role in creating and implementing the groundbreaking FULL STOP campaign. She is former Director of The Management Centre, Deputy Chair of Oxfam GB and a regular speaker at national and international fundraising conferences.

During the year, we recruited a new Collections Researcher and Digital Product Manager to build collections expertise and steward initiatives to increase our digital and national impact. We welcomed a Migration Network Coordinator to cover the planning and delivery of Migration Network events during the maternity leave of our Director of Partnerships.

We contracted Third House, specialists in coaching and leadership development for high-growth organisations, to work with senior leaders to build skills and confidence as we step up a gear to deliver our permanent home.

We applied for and were selected to be part of the initial cohort for the Museums Association's pilot AntiRacist Museums Programme. Following the completion of the programme, the senior leaders who participated brought the team together for a day-long session exploring practical and emotional aspects of embedding anti-racism within our work.

We were hugely assisted by more than 50 volunteers, including students from SOAS, Goldsmiths, King's College London, UCL, Queen Mary University of London, and the Universities of Oxford, York, Westminster, Middlesex, Essex and Greenwich. Undergraduate, postgraduate and PhD placement students supplemented their studies in a range of disciplines including Museum Studies, Arts Administration and Cultural Policy, History, Geography, Mathematics, Arts Education, Art and Design, Anthropology, Sociology, Information. Studies, and Digital Humanities. Our volunteers provided invaluable support, including with exhibition research and installation, digitising and archiving.

8 Financial Review

Income was consistent with the previous year, while expenditure grew slightly to reflect the increased number of staff. Funds held at year's end amounted to £ 818k (2024: £ 579k), of which £ 398k (2024: £312k) was restricted.

The Trustees have considered the charity's ability to continue as a going concern and have concluded that there are sufficient resources to meet its financial obligations for the foreseeable future.

Investment powers and policy

The Trustees have the power to make investments on behalf of the charity as they deem fit. The Charity's current profile indicates that investments should be held in low-risk assets. Consequently , all investments are currently held in bank account balances.

Reserves policy

The charity's income to date has largely consisted of restricted, project-based funding but as we pursue a £10m capital campaign, we require free reserves (unrestricted funds that are not designated or tied into fixed assets) to meet our fundraising costs over three years, estimated to be £ 2m, in addition to the capital sum required to deliver the permanent museum.

Free reserves at the end of the year were £ 383k (2024: £223k), in line with our target of holding free reserves equivalent to at least 3 months of expenditure (£293k). The charity intends to continue generating funds to meet its objective of increasing public awareness of the significance of Britain's migration story.

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Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Fundraising

The Trustees take their obligations under the Charities (Protection and Social Investment) Act 2016 seriously. Fundraising is led by the Development Director and supported by two part-time Development Managers and a full-time Development Support Manager, who are employed by the Migration Museum. The fundraising team is from time to time supported by specialist freelance fundraisers with relevant experience, for example of submitting applications to the National Lottery Heritage Fund. During the year, 74% of the Museum's income came from trusts and foundations, Arts Council England and National Heritage Lottery Fund; 14% was from major donors; 11% from sales and other income; and 1% from academic funding. Fundraising mainly consists of submitting written applications for funding to grant-giving trusts and organisations and submitting bespoke proposals to major donors.

The Migration Museum did not pay the voluntary levy to register with the Fundraising Regulator and is not bound to any other voluntary registration schemes for fundraising. However the Museum complies with the Fundraising Regulator's Code of Fundraising Practice, as set out in the Museum's Ethical Fundraising Policy. This policy, last approved by the Board of Trustees in March 2024, establishes the Museum's criteria for accepting funds or support, including protection of vulnerable people, its approach to appropriate due diligence, and to consideration of naming rights in recognition of particular charitable support, and sets out all procedures to be followed where issues arise under the policy.

No complaints were received about the Museum's fundraising activities.

9 Structure, Governance and Management

Governing Document

The charitable company is governed by its Memorandum and Articles of Association, dated 24 May 2013.

Recruitment and appointment of Board of Directors

Angela Cluff was invited to join the Board of Directors. A Nominations Committee leads on further Board development according to Terms of Reference enabling it to make recommendations for recruitment to the Board, in accordance with agreed guidelines aimed at ensuring an appropriate mix of skills, experience, background and diversity relevant to the scope of all the Migration Museum's activities.

During this year Kuljit Jackson and Ayesha Hameed resigned as trustees. We thank them very much for their contributions.

Sadly our co-founder and long time inspirational Chief Executive Sophie Henderson had to stand down for health reasons this year. We will be forever grateful for her leadership, passion and professionalism which has enabled the project to evolve from an idea to the vibrant cultural institution it is today.

Trustee induction and training

The Chair of Trustees carried out individual appraisals of all Board Members.

Organisational structure

The Board of Trustees oversees the running of the charity and meets at least four times a year, with one away day. The day-to-day running of the charity is carried out by the CEO who has delegated authority for operational matters, assisted by the staff team, freelancers and volunteers. Financial matters are delegated to the CEO and staff according to the museum's Financial Policy and Procedures. The work of the charity is guided by a Risk Register and Policies (Safeguarding, Diversity and Equal Opportunities, Volunteer, Whistleblowing, Conflict of Interest, Donations and Due Diligence, and Health and Safety) that are periodically reviewed and approved by the Board of Trustees. The museum benefits from specialist Audit and Risk, Education, and Development committees, chaired by Trustees, and from further specialist committees that guide the work of the Migration Network and exhibition development. The CEO is managed by the Chair of Trustees and in turn manages the Senior Leadership Team, who supervise the staff team. All staff have fortnightly check-ins and are appraised annually by their line manager.

Page | 13

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

Related Parties

The Trustees and staff constitute the main related parties. The Trustees are not aware of the existence of any other related parties.

10 Plans for Future Periods

Over the next three years we plan to:

The Trustees (who are also directors of the Migration Museum Project for the purposes of company law) are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law

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Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

TRUSTEES’ REPORT (continued)

FOR THE YEAR ENDED 31 MARCH 2025

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 charitable company 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 are sufficient to show and explain the charitable company's transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

In so far as the Trustees are aware:

The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the charitable company's website. Legislation in the United Kingdom governing the reparation and dissemination of financial statements may differ from legislation in other jurisdictions.

Received and approved by the Board and signed as authorised on their behalf by:

Signed by: ………………………………………. [ChaeB37AA7AC668D436Curassa

Charles Gurassa Chair of Trustees

Page | 15

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT (A Company Limited by Guarantee) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS

Opinion

We have audited the financial statements of Migration Museum Project for the year ended 31 March 2025 which comprise the Statement of Financial Activities, the Balance Sheet, statement of cash flows and notes to the financial statements, including 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 charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical 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.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sections of this report.

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. 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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Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT (A Company Limited by Guarantee) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS (continued)

Opinions on other matters prescribed by the Companies Act 2006

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

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the Trustees’ Annual Report.

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

Responsibilities of trustees

As explained more fully in the Trustees’ Responsibilities Statement set out on page 15, the trustees (who are also directors of the charitable company for the purposes 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 responsible for assessing the charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and 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 to do so.

Auditor’s responsibilities for the audit of the financial statements

We have been appointed as auditors under the Companies Act 2006 and report in accordance with regulations made under that Act.

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 specific procedures for this engagement and the extent to which these are capable of detecting irregularities, including fraud are detailed below.

Page | 17

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT (A Company Limited by Guarantee) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS (continued)

Identifying and assessing risks related to irregularities:

We assessed the susceptibility of the charitable company’s financial statements to material misstatement and how fraud might occur, including through discussions with the trustees, discussions within our audit team planning meeting, updating our record of internal controls and ensuring these controls operated as intended. We evaluated possible incentives and opportunities for fraudulent manipulation of the financial statements. We identified laws and regulations that are of significance in the context of the charitable company by discussions with trustees and updating our understanding of the sector in which the charitable company operates.

Laws and regulations of direct significance in the context of the charitable company include The Companies Act 2006, and guidance issued by the Charity Commission for England and Wales.

Audit response to risks identified:

We considered the extent of compliance with these laws and regulations as part of our audit procedures on the related financial statement items including a review of financial statement disclosures. We reviewed the charitable company’s records of breaches of laws and regulations, minutes of meetings and correspondence with relevant authorities to identify potential material misstatements arising. We discussed the charitable company’s policies and procedures for compliance with laws and regulations with members of management responsible for compliance.

During the planning meeting with the audit team, the engagement partner drew attention to the key areas which might involve non-compliance with laws and regulations or fraud. We enquired of management whether they were aware of any instances of non-compliance with laws and regulations or knowledge of any actual, suspected or alleged fraud. We addressed the risk of fraud through management override of controls by testing the appropriateness of journal entries and identifying any significant transactions that were unusual or outside the normal course of business. We assessed whether judgements made in making accounting estimates gave rise to a possible indication of management bias. At the completion stage of the audit, the engagement partner’s review included ensuring that the team had approached their work with appropriate professional scepticism and thus the capacity to identify non-compliance with laws and regulations and fraud.

There are inherent limitations in the audit procedures described above and the further removed noncompliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. Also, the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.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 auditor’s 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.

Page | 18

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT (A Company Limited by Guarantee) INDEPENDENT AUDITORS’ REPORT TO THE MEMBERS (continued)

DocuSignedby: pant ~~GaalBROSGROSASAMEG~~

Cara Turtington (Senior Statutory Auditor) for and on behalf of Saffery LLP

Statutory Auditors 71 Queen Victoria Street London

EC4V 4BE

Date: 05 December 2025

Saffery LLP is eligible to act as an auditor in terms of section 1212 of the Companies Act 2006

Page | 19

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

STATEMENT OF FINANCIAL ACTIVITIES

FOR THE YEAR ENDED 31 MARCH 2025

Notes
Income and endowments
from:
Donations and legacies
2
Charitable activities
3
Other trading activities
Investments
4
Total Income
Expenditure on:
Raising funds
5
Charitable activities
5
Total Expenditure
5
Net ((expenditure)/income
before transfers
Gross transfers between funds
15
Net movement in funds
Total funds brought forward
Total funds carried forward
14		 Unrestricted
Restricted
Total
Total
funds
funds
2025
2024
£
£
£
£
687,936
715,588
1,403,524
1,340,254
288,609
-
288,609
-
146,735
20
-
-
146,735
20
141,176
-
1,123,300
715,588
1,838,888
1,481,430
(220,466)
-
(220,466)
(142,893)
(754,607)
(624,645)
(1,379,252)
(966,963)
(975,073)
(624,645)
(1,599,718)
(1,109,856)
148,227
90,943
239,170
371,574
4,594
(4,594)
-
-
152,821
86,343
239,170
371,574
267,346
311,644
578,990
207,416
420,167
397,993
818,160
578,990

The comparative Statement of Financial Activities for the year ended 31 March 2024 is included in Note 18.

All recognised gains and losses are included in the Statement of Financial Activities.

All the charity’s activities are classified as continuing.

The accompanying notes form an integral part of these financial statements.

Page | 20

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

Company number: 08544993

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

BALANCE SHEET

AS AT 31 MARCH 2025

2025 2025 2024 2024
Fixed Assets £ £ £ £
Intangible fixed assets 8 48,028 -
Current Assets
Stock 9 37,165 44,172
Debtors 10 259,198 100,762
Cash at bank and in hand 550,483 516,966
846,846 661,900
Creditors:amounts falling due
within one year 11 (69,433) (67,982)
Net Current Assets 777,413 593,918
Total assets less current liabilities 825,440 593,918
Creditors:amounts falling due
after more than one year 12 (7,281) (14,928)
Total Net Assets 818,160 578,990
Funds:
Restricted funds
15		 15 397,993 311,644
Unrestricted funds 420,167 267,346
TOTAL FUNDS 818,160 578,990

The financial statements were approved by the board and authorised for issue on and signed on its 05 December 2025 behalf by:

Signed by: [Chae ………………………………. B37AA7AC668D436Curassa Charles Gurassa Director/Trustee

The accompanying notes form an integral part of these financial statements.

Page | 21

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

Company number: 08544993

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

STATEMENT OF CASH FLOWS

FOR THE YEAR ENDED 31 MARCH 2025

Cash provided by operating activities
A
Cash fows from investing activities
Purchase of assets
Cash fows from fnancing activities
Repayment of loan
Increase in cash and cash equivalents in the year
Cash and cash equivalents at the beginning of the year
Total cash and cash equivalents at year end		 31 March
2025
31 March
2024
£
£
90,051
231,457
(48,028)
-
(8,506)
(8,164)
33,517
223,293
516,966
293,673
<br>
550,483
516,966

A Reconciliation of net movement in funds to net cash inflow from Operating Activities

Net movement in funds
(Increase)/ decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
B Analysis of changes in net debt
At start of year
Cash
fows
Other
£
£
Cash
516,966
33,517
Loans: amounts falling due within one year
(9,980)
8,506
Loans: amounts falling due after one year
(14,928)
-
492,058
42,023		 Net movement in funds
(Increase)/ decrease in stock
(Increase)/decrease in debtors
Increase/(decrease) in creditors
Net cash provided by/(used in) operating activities
B Analysis of changes in net debt
At start of year
Cash
fows
Other
£
£
Cash
516,966
33,517
Loans: amounts falling due within one year
(9,980)
8,506
Loans: amounts falling due after one year
(14,928)
-
492,058
42,023		 2025
2024
£
£
239,170
371,574
7,007
(44,172)
(158,436)
(100,762)
2,310
4,817
90,049
231,457
non-cash
changes
At end of
year
£
£
-
550,483

(9,980)
8,506
(14,928)
-		 (7,647)
(9,121)
7,647
(7,281)
492,058
42,023		 -
534,081

Page | 22

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

1.1. Basis of accounting

The financial statements have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts. The financial statements have been prepared in accordance with the Statement of Recommended Practice: Accounting and Reporting by Charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.

The charity constitutes a public benefit entity as defined by FRS 102.

The functional currency is sterling. Monetary amounts in these financial statements are rounded to the nearest £.

1.2. Going concern

The Trustees have assessed the Charity’s ability to continue as a going concern and consider that there are no material uncertainties. Whilst most of the Charity’s income is derived from donations, which are inherently uncertain in timing and amount, the Trustees have evaluated their ability to manage and reduce expenditure should donations not be received as anticipated. This assessment has been made for a period of one year from the date of approval of these financial statements. Accordingly, the financial statements have been prepared on a going concern basis.

1.3. Fund accounting

Unrestricted funds are available for use at the discretion of the Trustees in furtherance of the general objectives of the charity. Designated funds are unrestricted funds earmarked by the Trustees for particular purposes.

Restricted funds are subjected to restrictions on their expenditure imposed by the donor. The purposes and uses of the restricted funds are set out in the notes to the accounts.

1.4. Income

All income is included in the Statement of Financial Activities when the charity is legally entitled to the income, there is probability of receipt and the amount can be quantified with reasonable accuracy, except as follows:

Income from investments is included in the Statement of Financial Activities in the year in which it is received.

1.5. Gifts in kind

The charity recognises gifts in kind in the form of donated services where the contribution provides a measurable benefit to the charity. The fair value of the donated services is based on what the charity would have paid in the open market for the same service.

No amounts are included in the financial statements for services donated by volunteers.

Page | 23

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.6. Expenditure

Expenditure is recognised on an accrual basis as a liability is incurred. Expenditure includes any VAT which cannot be fully recovered and is reported as part of the expenditure to which it relates.

Costs of raising funds include costs incurred in attracting donations and grants and costs of trading activities that raise funds.

Charitable expenditure consists of all expenditure relating to the objects of the charity. All costs are directly attributable to the activities under which they have been analysed. Support costs which cannot be directly attributed to particular projects are apportioned in proportion to the direct staff cost allocated to the project. Governance costs, which form part of Support costs include expenditure on the governance of the charity and its assets and are primarily associated with constitutional and statutory requirements.

Rentals payable under operating leases are charged to the Statement of Financial Activities on a straight line basis over the period of the lease.

1.7. Intangible fixed assets

Intangible assets are recognised when they are identifiable, the charity has control over the asset, it is probable that future economic benefits will flow to the charity, and the cost can be measured reliably. Intangible assets are initially measured at cost.

Intangible assets are held as assets under construction and not amortised until they are brought into use, at which point amortisation commence over their estimated useful life.

1.8. Stock

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell, after due regard for obsolete and slow-moving stocks. Cost is determined using the first-in, first-out (FIFO) method.

1.9. Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the charity will not be able to collect all amounts due according to the original terms of the receivables.

1.10. Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

1.11. Pension schemes

The charity operates a Defined Contribution Pension Scheme for its employees. The pension costs charged in the financial statements represent the contribution payable by the charity during the year.

1.12. Creditors and provisions

Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.

Page | 24

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

1.13. Estimates and judgements

In 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.

2. DONATIONS AND LEGACIES

Donations and grants
Gifts in kind
Grants – Arts Council England
Donations and gifts
Grants - Arts Council England		 Unrestricted
Restricted
2025
2024
£
£
£
£
381,887
645,660
1,027,547
1,243,958
306,049
-
306,049
-
-
69,928
69,928
96,296
687,936
715,588
1,403,524
1,340,254
Unrestricted
Restricted
2024
£
£
£
491,247
752,711
1,243,958
-
96,296
96,296
491,247
849,007
1,340,254

Details of the movement in restricted funds are shown in note 15.

Included within donations and gifts for the year is a total of £7,659 (£8,250 – 2024) in government grants which was contributed by Lewisham Business Support and LB Lambeth.

Gifts in kind comprise donations of professional services in relation to the establishment of a new permanent home for the migration museum.

They have been included in expenditure as follows:

Legal fees
Professional fees in respect of developing the
new space		 £
209,049
97,000
306,049

In addition, the charity benefitted from donated premises that housed the museum in Lewisham until February 2025 and for support on branding and advertising. No value has been included within these financial statements as it is not possible to quantify the amounts the charity would have paid without those gifts. We would like to thank our corporate supporters for their continued support

Page | 25

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

3. INCOME FROM CHARITABLE ACTIVITIES

INCOME FROM CHARITABLE ACTIVITIES
Unrestricted Restricted
Funds Funds 2025 2024
£ £ £ £
Museum and Gallery Exhibition Tax Relief 288,609 - 288,609 -

4. OTHER TRADING ACTIVITIES

Venue hire
Shop sales
Fundraising events – Speakers and exhibitions		 2025
2024
£
£
3,759
120,997
6,366
117,452
21,979
17,358
146,735
141,176

In 2024 and 2025, all income from venue hire, shop sales and fundraising events were all unrestricted.

5. EXPENDITURE

Raising funds
Fundraising - general
Fundraising – shop sales
Charitable activities:
Exhibitions and events
Establishment of new
permanent museum
Support costs
Total		 Staf
costs
Direct
costs
Support
costs
Governance
costs
Support
costs
reallocated
2025
£
£
£
£
£
£
12,500
27,899
-
-
45,568
85,967
33,841
85,469
-
-
15,189
134,499
46,341
113,368
-
-
60,757
220,466
307,065
200,205
-
-
106,325
613,595
261,884
367,069
-
-
136,704
765,657
111,522
-
172,848
19,416
(303,786)
-
680,471
567,274
172,848
19,416
(60,757)
1,379,252
726,812
680,642
172,848
19,416
-
1,599,718

Page | 26

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

5. EXPENDITURE (continued)

Raising funds
Fundraising - general
Fundraising – shop sales
Charitable activities:
Exhibitions and events
Support costs
Total		 Staf
Ofce
Other
Governance
2024
costs
costs
costs
£
£
£
£
£
19,662
3,748
76,353
-
99,763
5,174
986
36,970
-
43,130
24,836
4,734
113,323
-
142,893
451,951
86,159
191,838
-
729,948
138,922
26,484
58,968
12,641
237,015
00
590,873
112,643
250,806
12,641
966,963
615,709
117,377
364,129
12,641
1,109,856

Net income/(expenditure) is stated after charging:

Amount payable to the auditor for the audit

Amount payable to the auditor for the audit
6.
STAFF COSTS
Wages and salaries
Social security costs
Pension costs
Other staf costs		 13,950
10,000
2025
2024
£
£
631,002
520,710
63,746
52,648
32,064
26,149
-
16,203
726,812
615,710

No employee received emoluments of more than £60,000 in the year (2024: None)

Key management personnel received total employee benefits of £52,500 in the year (2024: £98,311)

The average monthly employee headcount during the year was as follows:

Administration
Project management		 2025
2024
Number
Number
2
2
17
15
19
17

7. TRUSTEES

None of the Trustees (or any persons connected with them) received any reimbursement of expenses, remuneration or benefits from the charity during the year (2024: nil).

The total of all donations received from the Trustees and their companies during the year was £111,860 (2024: £304,665).

Page | 27

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

8. INTANGIBLE FIXED ASSETS

Assets under construction
£
At 1 April 2024 -
Additions 48,028
At 31 March 2025 48,028
Amortisation
At 1 April 2024 -
Charge for the year -
At 31 March 2025 -
At 31 March 2025 48,028
At 31 March 2024 -

The charity is currently developing a digital infrastructure platform to support its strategic expansion and audience engagement objectives. The expected completion date of the project is March 2026.

9.
STOCK
Stock of fnished goods for resale
10.
DEBTORS
Trade debtors
Prepayments and accrued income
Other debtors
11.
CREDITORS: amounts falling due
within one year
Taxes and social security costs
Other creditors and accruals
Loan (see note below)
12.
CREDITORS: amounts falling due
After more than one year
Loan (see note below)		 2025
2024
£
£
37,166
44,172
2025
2024
£
£
9,967
31,680
249,222
69,082
9
-
259,198
100,762
2025
2024
£
£
2,496
596
57,816
57,406
9,121
9,980
69,433
67,982
2025
2024
£
£
7,281
14,928
=======
=======

An unsecured loan of £42,000 was received from Nesta Cultural Impact Development Fund and commenced in January 2022. It is a cultural development loan which is unsecured and is repayable over five years and bears interest at 7.5%. The balance on the loan at 31 March 2025 was £16,402 (2024: £24,908).

Page | 28

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

13. PENSIONS AND OTHER POST-RETIREMENT BENEFIT COMMITMENTS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension costs charge represents contributions payable by the charity to the fund and amounted to £32,064 (2024: £26,149). Contributions payable at the year end was £558 (2024: £3,456).

1 4. ANALYSIS OF NET ASSETS BETWEEN FUNDS

ANALYSIS OF NET ASSETS BETWEEN FUNDS
Fund balances at 31 March 2025 as represented by:
Fixed assets
Current assets
Current liabilities
Long term liabilities
Fund balances at 31 March 2024 as represented by:
Current assets
Current liabilities
Long term liabilities		 2025
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
48,028
48,028
448,853
397,993
846,846
(69,433)
-
(69,433)
(7,281)
-
(7,281)
420,167
397,993
818,160
2024
Unrestricted
Restricted
Total
funds
funds
funds
£
£
£
350,256
311,644
661,900
(67,982)
-
(67,982)
(14,928)
-
(14,928)
267,346
311,644
578,990

Page | 29

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15.
RESTRICTED FUNDS
Foyle Foundation
Lewisham Homes
Nesta Cultural Impact Development
Fund Grant
Paul Hamlyn Foundation
Rumi Foundation
Arts Council England
Arts Council England TCOB
Arts Council England HOTN
Arts Council England AOS
Arts Council England Digital
Creative Happenings
National Lottery Heritage Fund
– Connecting Lewisham to its
migration heritage
Lewisham Business Support
LB Lambeth – Mayor’s Fund
Capital campaign
The Portal Trust
Kusuma Trust
Pacey and Brynberg
The Golden Bottle Trust
Linbury Trust
Dr Martens Foundation
City Bridge Foundation
John Elerman
George’s Fund		 At 1 April
Transfers
At 31 March
2024
Income
Expenditure
and gains
2025
£
£
£
£
£
19
-
(19)
-
-
282
-
(282)
-
-
419
-
(419)
-
-
4,812
46,740
(45,056)
41,928
48,424
65
-
(65)
-
-
4
-
-
(4)
-
-
-
(650)
650
-
(6,398)
-
(3,720)
-
(10,118)
-
35,217
(39,543)
-
(4,326)
-
34,711
(3,648)
(48,028)
(16,965)
(29,085)
168,290
(57,140)
-
82,065
5,687
7,660
(1,585)
-
11,762
9,178
-
(9,178)
-
-
276,479
236,110
(249,186)
2
263,405
-
22,319
(21,882)
-
437
318
25,435
(43,561)
-
(17,808)
8,684
-
(8,699)
15
-
5,000
-
(5,000)
-
-
19,910
30,000
(41,880)
-
8,030
16,270
-
(17,113)
843
-
-
60,000
(48,004)
-
11,996
-
28,606
(28,015)
-
591
-
20,500
-
-
20,500
311,644
715,588
(624,645)
(4,594)
397,993

Page | 30

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15. RESTRICTED FUNDS (CONTINUED)

Transfers are made into restricted funds to cover any overspend on specific projects. Transfers out of restricted funds either represent the fulfilment of a condition of purchasing fixed assets or have the express permission of the donors.

Restricted funds received/used during the year were for the following purposes:

Funds that are overdrawn at the year end are in receipt of pledges for specific future funding.

Page | 31

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

15. RESTRICTED FUNDS (CONTINUED)

Comparative Information for the preceding period - Year Ended 31 March period - Year Ended 31 March 2024
At 1 April Transfers At 31 March
2023 Income Expenditure and gains 2024
£ £ £ £ £
Churchill Fellowship 1,861 14,825 (16,729) 43 -
Foyle Foundation 1,377 - (1,358) - 19
Lewisham Homes 282 - - - 282
Nesta Cultural Impact Development
Fund Grant		 419 - - - 419
Paul Hamlyn Foundation 35,530 112,740 (143,458) - 4,812
Rumi Foundation 2,109 (2,044) - 65
Arts Council England 1,526 - (1,522) - 4
Arts Council England TCOB 12,193 8,996 (26,343) 5,154 -
Arts Council England HOTN - 87,300 (93,698) (6,398)
Creative Happenings 6,900 - (6,927) 27 -
National Lottery Heritage Fund
– Connecting Lewisham to its migration (30,480) 128,956 (127,561) - (29,085)
heritage
Lewisham Business Support 18,593 7,250 (20,156) - 5,687
LB Lambeth – Mayor’s Fund 8,178 1,000 - - 9,178
Capital campaign - 333,332 (56,853) - 276,479
The Portal Trust - 20,921 (21,152) 231 -
Kusuma Trust 38,451 (38,133) - 318
Pacey and Brynberg - 24,000 (15,316) - 8,684
The Golden Bottle Trust - 5,000 - - 5,000
Linbury Trust - 30,000 (10,090) - 19,910
Post code places - 16,236 (16,313) 77 -
Dr Martens Foundation - 20,000 (3,730) - 16,270
58,488 849,007 (601,383) 5,532 311,644

16. SHARE CAPITAL AND CONTROL

The charity is a company limited by guarantee. In the event of the charity being wound up, the liability in respect of each member is limited to £10. The charity is controlled by the board of Trustees.

17. RELATED PARTY TRANSACTIONS

Details of transactions with trustees can be found in note 7.

There were no further related party transactions to be disclosed.

Page | 32

Docusign Envelope ID: BC8316F5-C226-497C-B2CC-C62E5FE38A38

MIGRATION MUSEUM PROJECT

(A company limited by guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

18. COMPARATIVE STATEMENT OF FINANCIAL ACTIVITIES (2024)

INCOME AND EXPENDITURE
Notes
Income and endowments from:
Donations and legacies
2
Charitable activities
3
Other trading activities
4
Total Income
Expenditure on:
5
Raising funds
Charitable activities
Total Expenditure
Net income before transfers
Gross transfers between funds
12
Net movement in funds
Total funds brought forward
Total funds carried forward		 Unrestricted
Restricted
Total
funds
funds
2024
£
£
£
491,247
849,007
1,340,254
117,452
-
117,452
23,724
-
23,724
632,423
849,007
1,481,430
(142,893)
-
(142,893)
(365,580)
(601,383)
(966,963)
(508,473)
(601,383)
(1,109,856)
123,950
247,624
371,574
(5,532)
5,532
-
118,418
253,156
371,574
148,928
58,488
207,416
267,346
311,644
578,990

Page | 33