REGISTERED CHARITY NUMBER: 1156207 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR THE RIFLEMAN'S MUSEUM TRUST
THE RIFLEMAN'S MUSEUM TRUST CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Page Report of the Trustees 1 to 5 Independent Examlner's Report Ststement of Financial Activlties Balance Sheet Notes to the Finan¢lal Ststements 9 to 15
THE RIFLEMAN'S MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the finanaal statements of the charity for the year ended 31 December 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: statement of Recommended practi applicable to charities pparIng their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effecttve 1 January 2019). OBJECTIVES AND ACTIVITIES The legal object has been developed into a Mission Statement as follows: The purpose of The Rifleman's Museum Trust is to collect. document, preserve and provide aCSS to material relating to The Rifles and its antecedent rifle regiments, and to use and interpret this material for the education and benefit of members of the Amed For5 and the public of all ages and backgrounds. The Trustees, vision for the future is that The Rifleman's Museum should be widely recognised as a dynamic and progressive constituent of Winchesterfs Military Museums and RIFLES heritage that capitalises on the excellence of its collection and modem technology to reach out and provide infomiation and an experiences for visitors that excrtes, inspires, and educates, and that prompts them to return generating sufficient income for the Museum to develop and flourish. The Museum's principal objectives during 2024 remained: M01 To attract addib'onal visrtors and users of all ages and backgrounds, and to be more accessible to all. including electronically. in particular through use of social media. M02 To optimise the use of sourceS and maximise venue generab'on in order to increase the options available and achieve greater levels of self-sufficiency M03 To manage, conseNe and improve use of the Museum Collection efficiently and effectively M04 To sustain the current programme of continuous improvement of the Museum and its displays To exercise good governan and administer the Museum in accordance with best practi, providing opportunity for the staff to acquire the neSSary skills to develop and realise their full potential M05 M06 To develop existing partnership arrangements to mutual advantage and seek others. In particular to secure a long term lease on the building with the MOD. Publlc benefft In the Trustees, view, the Mission Statement is compliant with the Charilies Act 2006 and subsequent Chari Commission guidance, highlights'ng, explicitFy and implicitly. the public benefit arising from the Trust's use of its collection to educate the public at large and the cuent regiment about the character, activities and history of The Rifles and the British Army in general. In particular, the Trust's educational activities emphasise the importance of the interaction beeen the civil and military in developing a full understanding of the role, significance and advancement in the modem Yr1d of cits'zenship, human rights and conflict resolution. Page 1
THE RIFLEMAN'S MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 ACHIEVEMENT AND PERFORMANCE In January 2024 the Museum took over the Rifles Museum Trust collecb'on and agreed to become The Rifles, long-term MOD supported museum. This brought additional MOD funding for staff and the museum hired a Cofflmunications and Matketing Manager and an additional Museum Assistant. These posts have enabled the museum to change ts name (with effect 31 January 2025) , build a new website. devise a plan to improve the presentats.on of the current Rifle Regiment (The Rifles) and act as their 'hub' museum (there are 10 other museums that display RIFLES forming and antecedent regiment artefacts), and also to instruct designers to look at how the museum can improve its displays to reflect its new role and make its reference library more accessible. The five Key Performance Indicators {KPls) (targets) used by Trustees to measure the Museum's achievements during 2024 remain unchanged. Achievement is measured against 2023.. KPI 1 - Achieve 13,500 recorded visits to the Museum in year. Total admissions were 9338 compared to 11,425 in 2023 and 10,303 in 2022. Of these 4,9576 were free entrants (6,724 in 2023) which included 1,255 serving soldiers and potential officers11,485 in 2022). These numbers were disappointing although visitor income vtss up to £21,234 (compared to £21,957 in 2023) probably attributsble to an increase in gift aid. reduced joint tickets (no gift aid) and a ts'cket pri increase in line with olher museums on site. KPI 2 - Maintain an in-year Gift Aid admissron rate of at least 55% of paid tkets. 640 of paid admissions attracted gift aid in 2024 compared to 63Yo in 2023. KPI 3 - Achieve an average of 2,500 monthly visitors to the Museum website. Average monthly website visits were 2,054 compared to 2,255 in 2023 although this was not a priority for the latter part of 2024 as effort was focussed on creating and launching the new websrte. KPI 4 - Maintain 90% of visitors surveyed rating the Museum Very Good, or better. 980/0 of visitors reported very good or better. KPI 5 - Operale within the budgetary limits set for 2024. Administrative costs were £107,656 compared to £67,592 in 2023. This reflects a significant increase in salary costs following the hiring of hvo new members of staff although these costs are covered by an increase in MOD Grant in A'd. The Museum's programme of tslks raised £2,492 in 2024 (£1,885 in 2023). During 2024 the Museum stsff responded to 15 chargeable research inquiries relating to the museum collection raising £375 compared to 32 raising £791 in 2023. Sadly a key volunteer passed away in 2024. Trustees are intent on creating an improved reference and research library which improves staff and public access to the museum's records and referen. Shop sales totalled £34,730 in 2024 up from £30.241 in 2023. Whilst there VRS no progress in negotiations with the MOD for a lease for not Sess than 30 years on the Museum building the new arrangements viith The Rifies means that we can expect this to move fonmard soon. Page 2
THE RIFLEMAN'S MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 FINANCIAL REVIEW The Trust Fund finished 2024 with current assets of £505,232 {£432.585 in 2023). As at 31 December 2024 the balan standing to the credit of each fund was: General (Unrestricted) Fund £390,959 Development Fund £56,452 (£324.465 in 2023) Endowment Fund £43.001 (£51,705 in 2023) Oxf & Bucks Ll Fund £14,820 (£41,956 in 2023) (£14,459 in 2023) Reserves It is Trustees, policy to maintain the 'free reserves. of the Charity that in those unrestricted funds not committed or invested in tangible fixed assets at a level to provide suffi'cient funds to cover the management, administration and support costs of the Charity for a period of 6 months without income from admission or trading. In fulfilment of this policy. the Trustees aim in 2024 to retain free reserves of not less than £80,000, a sum which is presendy covered by the credit balan held in the General (UnStCted) Fund. FUTURE PLANS In the next few years The Rifleman's Museum intends to: Increase the artefacts and stories held on the website so more of the collecb.on is available remotely to riflemen and the general public_ Subject to funding, design and build a new entrance, shop and RIFLES section of the museum which shows how rFfie regiment history is alive in the regiment today and how The Rifles contribute to the United Kingdoms defence and securty. Make other improvements to displays to improve the Royal Green Jacket section and complete the transfcrmation to the Rifleman's Museum Subject to funding. create a new reference and research library to enable easier acws for staff and the general public. Design mini exhibitions of rifle regiment history for installation in other museums in The Rifles network when funds become available. These developments require some minor charoes to the museums's objectives and KPIS from 2025 summarised below. Revised Museum Objecb'ves for 2025: M01. To attract additional visitors and users of all ages and backgrounds. and to be more accessible to all. including electronically M02. To optimise the use of resources and maximi* revenue generation M03. To manage, conserve and improve the Museum Collection efficiently and effectively M04. To develop as the 'hub' museum supporting The Rifies. M05. To exercise good governance and operate the Museum in accordance with best practice, managing staff effectively and providing development opportunities and improved working conditions. Revised Performan Indicators for 2025: KPI 1 Admission. Achieve113,500] or more recorded vists to the Museum maintain an in-year minimum Gift Aid admission rate of at least 600 KPI 2 Trading Increase shop sales and income from other trading (targets to follow) KPI 3 Communications. Achieve an average of [to follow] monthty visitors to the Museum website and continue to increase following on social media (targets to follow) KPI 4 Website Development. Increase number of 'on4ine' displays, stories and exhibib'ons (targets to follow) KPI 5 Rifiemen. Increase visits, website and social media following by serving Riflemen. KPI 6 Feedback. Maintain 90 /0 of visitors surveyed rating the Museum Very G¢X)d' or better Page 3
THE RIFLEMAN'S MUSEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER2024 STRUCTURE, GOVERNANCE AND MANAGEMENT The charity is Controlled by its governing document. a deed of trust and constitutes an unincorporated charity. The Rifleman's Museum is a MOD-sponsored and part-funded museum, accredited by the Arts Council (Registration No: 959). The Riflernan's Museum Trust is a Charitable Incorporated Organisation {No'. 1156207) approved by the Charity Commission wtth effect from 1 January 2015. The Museum has an operating company (2193863). which generates income by trading through the Museum shop and which manages the charitable operation of the Museum on the Trusts behalf. The Trust provides grant-in-aid from its own income, including donations from its restricted funds, to assist the Trading Company in funding the Museum's Charitab operations. The Board of Trustees has 10 elected and bNo ex-officio Trustees. Elected trustees are appointed for an initial period of five years. renewable up to a maximum of ten years. with provision to exceed ten years where circumstances require,. the Board meets fomially three times a year and is served when required by a Development Group to oversee continuous improvement of the Museum and its displays. An audit of Trustees, competencies is periodically carried out by the Board to ensure that its members collectively have the skills required for the Board to do its job properly as required by Charty Law. When gaps are identrfied, new Trustees are sought within the total number allowed. The names of potential candidates are then considered at a Trustees, meeting. with no fonnal approach made to potential candidates without the full agr*ment of the Board. If. after being approached, potential candidates indicate a readiness to seNe on the Board, a meeting with the Chairman is arranged at the Museum and, Inter alia, the responsibilities of Trustees explained and the candidate's attention drawn to the latest edib.on of Charity Commission publications CC31CC3a. The potential candidate also receives an induction pack including a copy of the Trust Deed, the latest annual accounts and the minutes of recent meetings. If the candidate remains ready to be nominated as a Trustee, his or her name goes forward to the Board for elects'on, or otherwise, al the next Board m&b'ng. Any further induction required. including training. takes place thereafter. The Board meets formally three times a year to review the operation of the Museum, including its financial position,. to make decisions regarding the future of the Museum. to approve the Forward Plan for the next two years, including the establishment of Key Performance Indicators and the budget for the year ahead. Day-to-day management of the Museum rests with the Museum Curator and her staff, who administer the Museum as directed by Trustees and the MOD. Statement of Rlsk The Trustees have considered the major risks to which the Charity could be exposed and have reviewed the systems and arrangements in place to mitigate such risks" a risk register and on90ing system of review are in place. They are unaware of any irregularities, including fraud, involving the management or employees of the Charity, or of any instances of actual or possible non-compliance with laws, regulations or agreements, that might result in the Charty suffering significant penalties or other loss. REFERENCE AND ADMINISTRATIVE OETAILS Registered Charity number 1156207 Principal address Peninsula Barracks Romsey Road Winchester Hampshire Page 4
THE RIFLEMAN'S MLISEUM TRUST REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Brigadier J I S Plastow CBE - Chalr Mr N J B Atkinson Mf C C Cohen Mr P Corbin Mr D Erskine-Hlll Mr G C C Feihetstonhaugh KC Mrs 8 Heath-calthvell Colon81 N Ilic MBE QGM Mr S J Lrttle Dr R E Tayb)r MrSCWood (appointed 25 October 2024) (resigned 14 June 2024) (appolnled 25 October 2024) S8crefary Chrisne Pullen Indelldent Examlner P UndeThYood, FCCA Morris Crt)Cker Chartered Accountants Stalion House North Street Havant Hampshire P09 1QU 8011cltors BDB Pitmans LLP GFDsvenor USe Grosvenor Square S<wthampton 8015 28E Bankers Lloyds TS8 Bank P 49 Hlgh Street Winchester Hampshire S023 98U The Royal Bank of Scolland 67-68 Higb Streel IAllnchester Hampshire S023 9DA Approved by Dtderof the ljoarrl of Iiijstees on .. ..... ..... ......... . and sbjned on rts behalf ty. Bngadier J I S Plasfow CBE - Trustee Page 5
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF THE RIFLEMAN'S MUSEUM TRUST Ind8pendent examiner's report to the trustees of The Rifleman's Museum Trust I report to the charity trustees on my examination of the accounts of The Rrfleman's Museum Trust (the Trust) for the year ended 31 December 2024. Responsibilitles and basis of report As the charity trustees of the Trust you a responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,). I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out my examination I have followed all applicable Directions given by the Charity Commission under Section 145{5)(b} of the Act. Independent examlneVs Statement I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respecL' accounb'ng COrdS were not kept in respect of the Trust as required by Section 130 of the Art or the accounts do not accord wrth those records. or the accounts do not compty with the applicable requirements conceming the fonm and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter consKlered as part of an independent examination. I have no COnmS and have come across no other matters in connection with the examination to which attention should be dravm in this report in order to enable a proper understanding of the accounts to be reached. P Undenbvood, FCCA Morris Crocker Chartered Accountants Station House North Street Havant Hampshire P09 1QU Page 6
THE RIFLEMAN'S MUSEUM TRUST STATEMENT OF FINANCIAL ACTMTIES FOR THE YEAR ENDED 31 DECEMBER 2024 2024 Total funds 2023 Total funds Unrestricted funds Restricted fund Endowment fund Notes INCOME AND ENDOWMENTS FROM Donations and legacies 143.132 4,415 147,547 115,567 Investment income Other income 9,302 9,302 6,135 165 Total 152,434 4,415 156,849 121.867 EXPENDITURE ON Charitable activities Museum Rifleman's Museum 35 31,282 88,952 88,952 Total 88,952 88.952 31,317 Net gains on investments 3,373 332 1,045 4.750 8,471 NET INCOME 66.855 4,747 1,045 72.647 99,021 RECONCILIATION OF FUNDS Total funds brought forward 338,924 51.705 41,956 432,585 333,564 TOTAL FUNDS CARRIED FORWARD 405.779 56.452 43.001 505,232 432,585 The notes form part of these financial statements Paae 7
THE RIFLEMAN'S MUSEUM TRUST BALANCE SHEET 31 DECEMBER 2024 2024 2023 Notes FIXED ASSETS Investments 10 224,250 212,210 CURRENT ASSETS Debtors Cash at bank 11 9,041 272,629 96,195 148,852 281.670 243,047 CREDITQR8 Amounts falltro due withln one year 12 (688) (22,872) NETCURRENT ASSETS 280.982 220.375 TOTAL ASSETS LESS CURRENT UABIUTIES 505.232 432,585 NET A8SET8 S05,232 432,585 FUNI Unrestricted fur R8strlcted funos Endowment funds 14 405,779 58,452 43.001 338,924 51.705 41,956 TOTAL FUNDS 505,232 432,585 The financial statements were apFKod by the Board of Trn5tees and authotsed for ssue on ¢1 ""fcbffj.&ZS. and were wned on ts behalf ty. The noles form part of these financial ateM8rrtS Page 8
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES Basis of preparing the financial ststernents The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland {FRS 102) (effecttve 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Irdand, and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exptIOn of investments which are included at market value, as rrthified by the revaluation of rtain assets. Income All income is reccgnised in the Ststement of Financial Activities On the charty has entitlement to the funds, it is probable that the income will be reiVed and the amount can be measured reliably. Expenditure Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the chartty 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 reSoUs. Investments Stocks and shares quoted on the London Stock Exchange are included in the balance sheet at their market value at the year end. The differences bebween the market value and the original cost of the investment are included in the Statement of Financial Activities. No unquoted investments are held. Profrts and losses arising on the disposal of investments are included in the Statement of Financial Acb'vities. Grants offed subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditu. Tanglble fixed assets Depreciab'on is provided at the following annual rates in order to write off each asset over its estimated useful life. Computsr equipment 33% on cost Individual fixed assets costs'ng £500 or more are capitalised at ¢osL Taxation The charity is exempt from tax on its charitable activities. Fund accountlng Unrestricted funds can be used in accordance with the charitable obj'ectives at the discretion of the trustees. Restricted funds can only be used for particular tricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes. The Endowment Fund is a restricted fund intended for the Ca and preservation of the museum collection and for the purchase of museum artefacts. The capital balan is held in a mix of M&G Charibond and Charifund Units and cash accounts with Royal Bank of Scotland and Lloyds Bank, Page 9 continued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - contlnued FOR THE YEAR ENDED 31 DECEMBER 2024 ACCOUNTING POLICIES - continued Fund accounting Development {Friends of the Museum) Fund, created in 2003 is a restricted fund whose income is dertved from donations, gift aid. and income from its capital. The capital balance is held in a mix of M&G Charibond and Charifund Units and cash accounts with Royal Bank of Scotland and Lloyds Bank. The Development Fund may be used for anything contn"buting to the overall development of the museum in its widest sense and is restricted only in that expenditure from the fund is recorded and briefed back to the Friends of the Museum annually. The Oxfordshire & Buckinghamshire Light Infantry Fund {OBLI nd} is a designated fijnd created from money reiVed on the closure of the OBLI fund in 2008 and earmarked for the tirne being by the RGJ Museum Trustees principally but not exclusively to finance the conts'nuing care, access to, and display of the former OBLI collection at Winchester and in Oxfordshire. The capital balance is held in a mix of M&G Charibond and Charifund Units and cash accounts with Royal Bank of Scotland and Lloyds Bank. Hèritage assets It is the policy of the Trust not to capitalise heritage assets belonging to the Museum. These are in effect inalienable and are mostly irreplaceable. Any financial based valuation would be misleading to the value and Slgnrfican of the material culture involved. The Trust has a clear duty of care for these assets and to make them available for the enjoyment and education of the public as far as is possible, commensurate with their long term care and preseNation. The highest possible standards of collection management are applied. Flnancial Instruments The charity only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable and investments in stocks and shares. The measurement basis used for these instruments is detailed below. Debtors and cash at bank Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. Cash at bank and in hand included cash held on deposit or in a current account. Credltors 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 Of estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. DONATIONS AND LEGACIES 2024 2023 Donations Grants 18,094 129,453 109,098 6,469 147,547 115,567 Page 10 continued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 DONATIONS AND LEGACIES - continued Grants reived, included in the above, are as follows: 2024 2023 Regimental and AMOT grants other grants 129,453 4,114 2,355 129,453 6,489 INVESTMENT INCOME 2024 2023 Deposit account interest Interest invested in M&G investments 2,011 7,291 6,135 9,302 6,135 All investment income is derived from assets held in the United Kj'ngdom. CHARITABLE ACTIVITIES COSTS Grant funding of activities (see note Support costs (see note 6) Direct Costs 5) Totals Rifleman's Museum 208 88,072 672 88,952 GRANTS PAYABLE 2024 2023 Rilleman's Museum 88,072 30,346 The total grants paid to institutions during the year was as follows". 2024 2023 RGJ {Rifles) Museum Trading Company Ltd 88,072 30,346 Page11 continued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 SUPPORT COSTS Govemance costs Rifleman's Museum 672 Support costs, included in the above, are as follows". Governance Costs 2024 Rifleman's Museum 2023 Total activities Independent examiners fees 672 792 TRUSTEES. REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits for the year ended 31 Dmber 2024 nor for the year ended 31 December 2023. Trustees. expenses During the year there were no trustees expenses (2023: none). COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - 2020 Unrestricted Restricted Endowment funds fund fund Total funds INCOME AND ENDOWMENTS FROM Donations and legaaes 110,935 4,632 115,567 Investment income Other income 6.135 165 6.135 165 Total 117,235 4,632 121,867 EXPENDITURE ON Charitable activities Museum RFfieman's Museum 35 31.282 35 31,282 Totsl 31,317 31,317 Net gains on investments 6,014 593 1,864 8,471 NET INCOME 91,932 5,225 1,864 99,021 RECONCILIATION OF FUNDS Total funds brought forward 246,992 46,480 40.092 333,564 TOTAL FUNDS CARRIED FORWARD 338,924 51,705 41.956 432,585 Page 12 conts'nued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 TANGIBLE FIXED ASSETS Computer equipment COST At 1 January 2024 and 31 Dernber 2024 3,511 DEPRECIATION At 1 January 2024 and 31 December 2024 3,511 NET BOOK VALUE At 31 Decernber 2024 At 31 December 2023 10. FIXED ASSET INVESTMENTS The quoted investments hekl at 31 December 2024 comprised: 2024 2023 UK fixed interest UK equity 224,249 212,208 224,249 212,208 There are three material holdings within the value of the quoted investments" 289 M&G Charity Funds Accumulation Units (UK equity) with a value of £94,653 (2023.. £86,830). 1,251 M&G Charity Bond Accumulats'on Units with a value of £52.144 (2023: £51,675) and 297 COIF Accumulation Units with a value of £77,452 {2023: £73.703). 11. DEBTORS: AMOUNTS FALLING DUE MTHIN ONE YEAR 2024 2023 Other debtors Prepayments and accrued income 9.041 5,177 91.018 9,041 96,195 Page 13 continued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - continu8d FOR THE YEAR ENDED 31 DECEMBER 2024 12. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Other creditors 688 22,672 13. ANALYSIS OF NET ASSETS BETWEEN FUNDS 2024 Totsl funds 2023 Total funds Unrestricted funds Restricted fund Endowment fund Investments Current assets Current liabilits-es 161,332 245.135 (688) 15.187 41,265 47,731 (4.730) 224,250 281,670 {688) 212,210 243,047 (22,672) 405.779 56,452 43,001 505,232 432,585 14. MOVEMENT IN FUNDS Net movement in funds At 31.12.24 At 1.1.24 Unrestricted funds General fund The Oxf & Bucks Ll Fund 324,465 14,459 66.494 361 390,959 14,820 338,924 66.855 Restricted funds Friends development fund 405,779 51,705 4,747 56,452 Endowment funds Endowment fund 41,956 1,045 43,001 TOTAL FUNDS 432,585 72,647 505,232 Net movement in funds. included in the above are as follows: Incoming resources Resources expended Gains and losses Movement in funds Unrestrictod funds General fund The Oxf & Bucks Ll Fund 152,215 219 (88,952) 3,231 142 66,494 361 152,434 (88,952) 3,373 Restricted funds Friends development fund 66,855 4,415 332 4,747 Endowment funds Endowment fund 1.045 1.045 TOTAL FUNDS 156,849 (88,952) 4,750 72,647 Page 14 continued...
THE RIFLEMAN'S MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 DECEMBER 2024 14. MOVEMENT IN FUNDS - continued Comparatives for movement in funds Net movement in funds At 31.12.23 At 1_1.23 Unrestricted funits General fund The Oxf & Bucks Ll Fund 232,971 14,021 91,494 438 324,465 14,459 Restricted funds Friends development fund 246,992 91,932 338,924 46,480 5,225 51,705 Endowment funds Endowment fund 40,092 1,864 41,956 TOTAL FUNDS 333,564 99,021 432,585 Comparative net movement in funds, included in the atK)ve are as follows.. InTrIng resources Resources expended Gains and Movement losses in funds Unrestricted funds General fund The Oxf & Bucks Ll Fund 117.051 (31,317) 5,760 254 91,494 438 117,235 Restricted funds Friends development fund {31.317) 6,014 91,932 4.632 593 5,225 Endowment fund8 Endowment fund 1,864 1,864 TOTAL FUNDS 121,867 (31,317) 8,471 99,021 15. RELATED PARTY DISCLOSURES The Rifteman's Museum Trust reiVed grants of £52.000 (2023.. £26,000) from the Royal Green Jacket Association. The Rifleman's Museum Trust made a grant of £88,072 (2023: £30,346) to The Rifleman's Museum Trading Company Limtted. Brigadier James lan Stuart Plastow, who is a Trustee of The Rifleman's Museum Trust, is also a Director of The Rifleman's Museum Trading Company Limited. Page 15