Charity registration n￿nber. 1160419
The Tudor House Museum Trust
Amiual iieport and Financial stateM￿t5
for tbe Year Ended 31 M8rch 2025
D¢vereux & Hunt Ltd
Certified Accountsnt
51 BascpVi￿l B￿]nesY Cen
Oakfield Clo
Tewkesbwy
Glos
GL20 8SD

The Tudor Huuse museu￿ Trusl
Contents
Lieference and Ailministr&tive Detstls
Trustees, Report
2to6
Independent Examinevs Report
Statem¢nt of FinanoiaE Activities
Balallce Sheet
9tolO
Notes lo the Financial Statements
Ilto20

The Tudor House Musellm Trust
Reference and Administrative Details
Ch8irma
Mr M Myn2rd
Trustees .
Mr C L Biggs
Mr R Chambers
Mrs S Mynard
Mrs D Scott
Miss A WiJkyJ8
MT M MyngJd
Mr M Follett (apw)iiited 20 May 2024)
Mrs J"I'aylor (appointcd 20 May 2024)
Cbarity Reglstration Number
1160419
The clwity is incotyorated in Engl&[￿ and Wales.
The Tudor Howe
16 Chvwh Sireet
Upton-upon-severn
Worce.8ter
Principal and regigtered oftfice
WR8 OHT
Independellt Examiner
Devereux & Hunt Ltd
Certitled Accountant
51 B8s¢point Business Centre
Oakfield Close
Tewkesbury
Glos
GL20 SSD
Page I

The Tudor House Museum T￿￿t
Trnstees, Report
The Trustees present their Report and AeLounts for the year ¢ll(kd 31 M8r¢h 2025
Reference and administrative detsils.
The charity
The legal name of the charity is: . The Tudor House Museujn Trll￿ this is also its opcrdtillg llatll&
The chapity's areas ofoperaliott and UKehorRfable regislratio
The charity is registernl in En81gnd & Wales with the Charity Commwion in En818nd & W4les (CCEW) with
charity nurnber 1160419.
Legalstruelure ofihe charity
Th¢ ¢harÉty is constituted as & Charitable Incorporated Organisation (CIO) in England & Wales. The 8overoin8
document of thc is the constitution of the CIO as approved by tbe Chority Conimission in England &
Wales (CCEW).
There are no restrictions in the governing documents i)n the oper&tiotL ofthe Charily or on its inves1￿ellI powers
other than those imposed by Charity Law.
The knistee5 are all individuals.
The priDclpal operatlng addreys, telephone number, emall and web addresses ofthe charity are: .
The Tu(br House
16 Church StreeL Upton upon sev￿
Worcesier, WR8 OHT
Telephone: 01684 437070
E mail.. Tudorhovse.upton@gmatl.com
Website:www.thetudorhousemiiseumupton.org
The Trustees In offlee oll the date the report wa8 approved were: .
MIC L Biggs
Mr R CbAmber5
Mr M Myjard
Mrs S Mynard
Mrs D Scirtt (retired November 2024)
Miss A Wilkins
Mr M Follett
Mrs J Taylor
Page 2

The Tudor Hou¥e Museum Trust
Trusteesl Report
The followlng persolls Served as Tru8tses during the year ended 31 Maych 2025 :.
The trustees who each served &8 a tNstee iu th¢ reportiog puiod &s Sl￿wn above.
AU the tr￿teeS 8Te also ￿e￿berS of tbe ¢harity.
Objects and actlvities of the charity
Thepurposes ofthe eharity as set oul in its governing docupnenL
To provide for tbe adV￿ceMent of public educalion by glthering a collection of items and artefacts (whethcr by
gi(L loan OT purchase) retiecting the history principally 0£ Upton-upon-severn and the River Severn for display
in 8 musewll for the interest and education of local people, their cbildren 8nd visilors to the town of
Upton-upon-severn.
The main aetivities undertaken IR rgltthon io lhosepurp0,f￿ during Iheyear.
The Trust continued to augnent the m￿SeuM,S collection duriDg the year. through the generosity of the public.
The willdow displays continued to interest and cdu¢ate residents and visitors. We Te¢eived organised visits by
suhvu15'. llicluding thG rcccption class fr(yu Hanley Sw￿￿ Prim8ry scbooL U3A. UCC and coach tours.
The muin ad1viti￿ underlakex during th¢year lofurther the charity'spuryosefor thépublic benefiL
The TNst opened the M￿scUM initially on Friday pm.. Saturdays (all day), Sundays (pm) 8JJd Bank Holiday5
togethcr witb soLDe Thursday openins.
Sume "good n¢ws"
The opelling of the Museum on Good Friday 2024, was attendcd by more th8n 250 people during the Easter
weekend. This was an enoTmous 9uc¢ess, helped by repair and refirbishment works ulldert&kell during Glosure
over the winter. including leaking glass roof on th¢ first floor, new garden bellch timber and a new garden
roarquee.
The Museum now 8n 0￿101￿1 "Gift Aid" pr¢sence with IIMRC, followitig the introductioa of the
"Tap & Go" mad]iue paid for by ourreiir5llg Tn2Stc¢- Henry Stevely-HiIl
Significant support to tbe Fo]K Jazz and Blucs Trestivals ill tenns of eveni$ in the M
Fiim crew froEll DragonFly Productions produring gn artiLle oll tbe "Green 5ton&' and Dirk"
A successfid fi]ndraising quiz night at the Railway at Ripple
A ot £1 000 from the Blues FestivyL organisers
tntroduction of new guided ti)wll wa]ks, sponsored by MEIDC
WCC fi￿dea Accessibility grai)t tor replacement accessibility ranLPS both inside and outside
Sp)nsored wreath frorn the museu￿ at the Memorial Day seTViCC
Introduction of thejned reminiscence events
Wonderful CbTiStnw event on tbe 8th Decembcr wher¢ more tlvall 220 8ue5ts met Fatbcr Chrisimas,
Iverc enteitain¢d by a matvellous magi¢l8DIju8gl￿. face paintin& hair braiding and a fabulous Town
CrieT- fi￿ded by MFLDC
Complcte returbislllnent of the whole rcLrptioii area, ixcludiy)g new ligbtin& stripped floDrin&
paiDting, new radiators to rq)lace the 1¢8king old ones, reccption desk, piGturcs, alld sales area. The
amount of tr￿￿ee alld volunteer time con)mitted to tbis project is tnassivcly sigtLificant, 8lld would not
have been Completed in time for rc-opelliD8 Wit}￿1}t the dedicatioll of a small Dumber of vol￿teerS.
Both rental properties are fully occupied witb tbe tcnallts now paying an apwopri<ite market rate
Pa8e 3

The Tudor Itouse Museum Trnst
Trustees, Report
The Museum is now working Closely witb Malvcrn Hills District Council on a numbeT ofprojects, with
the Museum now the venue for the Towns TourAsm alld Trade meeting.
The new Museutrl website is cumtly being completed with impleKnelltstion scheduled for
imm¢diateEy after the 2025 AQWM in May.
Son* gtsodnews"
A replacement boiler was required for No 14 Chiuch Strcct, due to its age, and in January 2025, furtljer
remedial work was required to f]x a leak in the fftst floor batbroom plaIm￿g.
New kitcllen worktops were installed at No 18 Church Street, together with a garden fen¢e to help with
privacy for the tenant
The glass roof on thee first floor of the m￿Se￿ll1 required extensive repairs to fioally seal it8 l¢aking
structure
Plans for the external pailliing of th¢ musemn Are in place which will tak¢ place in MalJllne 2025, supp¢med by
a Town Centre grallt application fllnded by MHDC
Aclion Plan Obieetives- Year 2
As p8rt of the fornially agreed and adopted Strategic plan, I would advise tb&t all the stated objectives for Year 2
have heen completed (see P15 of the Strategic Plan), apart from ttLe installation of an appropriale cctv system.
Thts IS SOtrLething that tbe Tn￿tee5 working on af present, due to excessive project costs.
The contribution of volunteers during theyear.
The Truslccs have received absolllte SUPPOTI from the volunteers wbo ¢ontinucd to b¢ willin8 to work widi us un
many tasks. cspeci&lly in tenns of ntsking the Museum operatioD&l ts all of the refurbishment work. The
TTUStees would like to thaDk ail the voluntccts for their contribution and helpy which is reflected in the
¢0]nn￿nts received from visitors. The Tn]stees iDtend to hold 8 volunteer recruitment drive in thc carly summer
in preparation for the remaining part of the year,
Th¢ main achievements ¢7ndperformtTnce ofthe charity durlng the.year.
Markmynard w&$ elected of Chair of Trustees at the AGM in MAY 2024
'lTrte Tn￿teeS have maintained the higb standards of presentation of exlLibits in a historic building. They and
volunteers have contributed historical articles about Uptoll 8nd about the Museum's collection to local and
national publications. 'Ihe Musewn continues to be a tuember of the Association of tndependent Museums and
is seekin8 fonnal accreditation as gll Independent Museum ill order to bid fnr heritage alld lottery fiJTrding. The
buildt￿8 tnuseum itself is well muintained: repairs to the n)of. to brickwork rylaccment of a glass structure
have been completed and the reception ligbtin8 h2$ been updatcd.
Signifi¢ont contribution to positivr visitor exp￿Ience with xncttased engagement between the Mus¢um and
Ma]vem IIills Distiict Councils tourism teazu. This collaboration is working extremely well and will be built
upou ovej. the comyng years, especiauy itt tern￿ of tourism 8nd visitor footfall.
Page 4

The Tudor House Museum Trust
Truste¢s' Report
The differen¢e the charity'& performancé during thé year h4U made lo the benefiei•yrles bf thg charity ond
wider so¢idy.
The Tn]st is working to incrcasc its contribution in it5 aim of educating both lo￿1 residents and visitors alike to
the riverside lown about the history of Uplon-upon-sevcm alld its Tcgioll as well as dtsplayitig exhibits.
especklllly pottery alld the lace collectiofy which is attraotiJJg expert &ttentioo of wider national significance.
The positive comments of vi5ltor5 in the Vi51tors Book, on the intern¢t and on so¢ial m¢dia havc Gontiuued to
¢ncournge the Trnstees itL their Work. All of this whilst m8illtaining the charitable objective5 of th¢ charity
established by the Mus¢um's founder Lavender Beard in 1993, guidillg Trustees to be lo the original
objectives.
Stru¢tUTeTr goverllanee #nd mauagement of the eharity
The mgthods rgeruil and appoinl new charfty truslees.
New ttust¢es are chosen by the existing trustees who wislL to eDsuTe thai the skills anivor expcTien¢e which a
potential trustee offers will benefit the trllst especially in the areas of ljistory, accountancy, investment. propEty
nd education. The Trustees also regard it as i￿portAnt that some of the tr￿St¢eS havc finn roots in thc local
con)munity. The museum's volunteers and those who have their expert interest in the mus¢utll aTC sources
of potential tswstces.
Bankers: Lloyds Bamk plc, Malvern
Soliritors". Stsr Le8al (incorporntillg Moore Brown & Dixon ILP), Tewkesbury
Illveslment advisors.. CILarles Stanley & Co. Limite¢ London
A¢countaacy: D¢vereux and Hunt, Tewkesbury
Thc Trllstees eontlllU¢ to operatc in accordance with the Founding principles aligned to tbe Constitution
of Charitable incorporated organlsotfions adopted in V¢bruary 2015
Finaneial review
Th£ charity'&finaneiatposilion at the 8nd of¢hey44r ended 31 March 2025
Ibe fjnatlcial position of the c]wity on 31 March 2025 alld comparative5 for the Prior perio￿ a5 JlloTe fully
detailed in the accounts. can be summarised as follows: .
Financial review ofthe position at the peporting date, 31 MarGh 2025.
The tNstee5 consider the fmancial perfomw￿c by the Charity duTiDg the year to have been satisfactory,
Specific changes in fjxed assers ore d¢Tailed in tbe notes to the accoullis.
Thc charity's list¢d investments are managed by Charles Stanley & Co. Lt4 membeTh of the London Stock
Ex¢ballge, on behalf of the trustees.
The trnste&8 do not foresee an in)mediate need to call for fimds trom the capital in its investment portfolio
althougb they rLmain aware of the risks inherent AU caring for very old builditigs. The Trn%tee8 therefore ttgard
these investments as an asset whirh tb¢y will wish to See grow with a view to expenditure on the development
ot'the museutll itt the ￿ture, taking into account th¢ wishes of ils founders, and as a cushioD ag&iDSt any
Unf￿'e5een events. They rely on the income from thi.s portfolio and their investment properties to allow the
mus¢urrk to opell to the public free by resolution of the 2020 A.GM.
P8ge 5

The Tudur House Museum Trust
Trustees, Report
Srfttsement of TrMstee&'Responslbllltl
The charity's th￿tee8 are responsible for the preparation of the accounts iti Accordance with the ternis of the
Chariti¢8 Act 2011 artd the ch￿ltiES (Accounts and Reports) Rcgu]ations 2008. Notwithstanding the explicit
requirement in the extant statutory regulations. the Charities (Accounts alld Repoits) Regulations 2008, to
prep8re the fmanctai state2nents in ac¢ordance with the SORP 2005, in view of the fact tbat the SORP 2005
been withdrawn, the Trustees determined to intcrpTet this responsibility as requiring th¢m to follow curmit be.81
practice and prepare the a¢coutLts according to th¢ FRS 102 SORP (Siatetuellt of Reiotllmended Practice for
Accounting and Reporting by Ch￿ItIeS} 2015, {as otnended by the Bulletin issued in Februgry 20I6), (The
SORP),
lu particular, charity law requires the TTh￿tees, rfthey Prepa￿ accounts on an accruals basis, to prepare fu￿nCIal
siaiements for each fmancial ye8r which give & true and fair view of thc statc ot affair8 Ot. the charity as at the
cnd of the f￿￿claI year and of the .Sllrplus or defi¢Ét of the charity. In preparing those r]llAllLiyI state￿et￿ts the
Trustce5 are required tsi :.
- to prepare the accounts in accordauce with United Ktngdom Generally A¢¢¢pted Accounting Practice (UJ)it¢d
KingdollL Accounting Standar&8 and applicable law).
- select suitsblc accounting policies and lpply them consistently.
- make judgements ￿la estim&tes tbat are reasoEEable alld pwdent.
- prepare the fm2ncial statements on the going concern basis unle88 It is inappropri8te to presume that the
charity will continue in business.
- stste wbetha. applicable accounting standards and statunetLts of recommendcd practice have been followed,
subject to any material dyartures discloscd atLd explained ia the fmancial statements,.
The law Tequires that the tr￿Stee8 musl nol approve the accounts unless they are satisfied that they give a ttve
and fair view of the state of affairs of the ¢knrity and of the sllrplus or defioit of the charity for the year.
The Trt￿le¢S are also respoDsible for ￿alItta1nill8 adequate accouttting re¢ords wbich disclose with I'easonablc
accuracy at any t￿me the fmanciAI position of the charity and whiLh ure suificielll to show and explain the
charity's transa¢tion8 and enable tbem to ensure that the fjnancial statements ¢on]ply with regulations made
Lmder the Charities Act 2011. They are also responsible for safeguarding the assets of the ch8rity and hence for
taking reasonable steps for the prevention and deteotion of fraud and otber irregularities.
The Trustees are also responsible for the Lontents of the Trustees, report, and the Sta￿tOry regponsibility of the
Indepelldent Examiner in relation to the Trllstees. report is limited to examining the report and ensuring that, on
the fa¢¢ of the r¢port, thC￿ no matcrial inconsistcncics with the figures disclosed ill the fjnancial statemejits.
The allnual re
Is
s approved by the tnistees of the charity on .....
. alld signed on its behalf by..
Mr M Myllurd
Chainnan and trustee
Page 6

The Tudor House Museum Trust
Independent Examiner's Report to the trustees of Th¢ Tudor House Museum Trust
('the Company,)
I report to the charlty trustees on my examination of the accounts of the Company for the year ended 31 March
2025.
Responslblllties and basis of report
As th¢ ¢haTity's tr￿tee5 of The Tudor House Museum Trust you are respollsible for the PTep&ratiOn of the
accounts in accordance witb the requii'ements of the ch￿ltieS Act 2011 ('tho Act,).
I Teport in respcct of cxamination of The Tudor Hous¢ Museum Trust's a¢¢ountS &5 CWTied out under section
145 of the Charities Act 2011. In canying out my examiDa130n I have followed all the appli¢abl¢ Di￿tiOnS
given by the Ckwity Commission under section 145(5)0)) ofthe 2011 Act.
Independent eXa0￿ller s statement
I have cnmpleted my examination. I confirm that no Matt￿3 have comc to my attention in connection with the
examination giving me cause Éo believe:
acci)unting Tecords were not kept in respect of The Tudor House Museum Trust as required by section 130
of the ACL. or
2. the accounts do not accord wkth those records. or
3. the accounts do oot con]ply wtth the accounting requirements concerning the forni or ¢¢)ntcnt of accounts
set out iti the CharitLes (Accounts and Reports) Regulations 2008 other than any requirement that the
accounts give a 'lnLe aud fair view which is not a matter ¢onsider¢d as part of an independent
4. the accounts have not been prepared in accoTdallcc with the rneth0(￿ alld winciplc5 of the Statcment of
Rccollun¢nded Tractice for accountin8 and reportiug by charities [applicablc to charities prtparing their
8¢¢0unts in accordance with the Finattcial Reporting Stand&rd applicable in the UK and Republic or
Ircland (FRS 102)].
I have no concerns and have COllLe acTOSS no other matters in c(Yllllection with the eX￿nInatiOn ￿ which atteDtion
should be draiwn in this Teport in order lo ellable a proper undeTStandill8 of tkne 2CCOimts to be tEached.
Devereux
Certified Accountsnt
51 Basepoint B￿l￿eSS Centre
Oakfield Close
Tewkesbun,
Glos
GL20 8SD
Date..
i J/gzs
Page 7

The Thdor House Mu5euLU Trust
Statement of Financial Aetivities for the Year Ended 31 March 2025
(Including Illcome and Expenditure Account and Statement of Total Recognised Gains
and Losses)
Total
2025
Total
2024
Unrestrlcted
Note
Income and Endowments from:
Donations and legacies
Other trading activitie
Investment income
Other illcome
10,440
10,271
18,632
10,440
10,271
18,632
3,707
4,230
19,682
12,006
Total income
39.343
39,343
39,625
xpendlture on:
Raising fullds
Charitsble activities
(7,690)
(52,108)
(7,690)
(52,108)
(5,732}
{53,558)
Total expenditllre
Net expenditure
other reeogni5ed gydins and loss&s
Other 88insnosses
59290
{20,455)
(20,455)
(19,665)
2,173
(2,173)
62.432
Net moveu]ent in fiuk(L8
122,628)
(22,628)
42,767
ReeoneiliatioD of fullds
Total funds brought forward
978,081
978,081
935.314
Total filnds carried fonvard
17
955,453
955.453
978,081
All of the charitv's activiti&s derive from continiiing operations during the above two periods.
The fiu)ds breakdowrL for 2024 is shown in note 17.
The note5 on pages I I to 20 follu an integral part of these fmancial slatutLents.
Page 8

The Tudor House Museum Trust
'Charity registration number: 1160419
Balance sheet as at 31 March 2025
2023
2024
Note
Flxed assets
Tangible &8Sets
Heritage assets
Itkvestments
12
13
14
376,005
3,631
556,344
383,401
3,963
566.634
935.980
953,998
Current assets
Debtors
Cash at bank and in hond
15
2.017
18,682
1,888
23.421
20,699
25.309
Creditors; Amounts falling due withill one year
16
(1.226
(I,226)
Net eurrent assets
19,473
24,083
Net assets
955,453
978,081
Funds of the charlty:
Unrestricted illcome
Un￿s￿Icted
955,453
978,081
Tot81 funds
17
955,453
978,081
The TnLStee.< ¢f)ngider tbHt t.he Aiidit reqiiiJTment of Stetion 144(1) of tbe c.bRrlti￿ Act 2011 does not apply? and
tbat there Is no requiretnent in the Goverlling Document for the conductm8 of an audit. As a COllsequ¢n¢e, the
Trustees ILave elected that the fjnauciai statemejjts be subject to an independent ex8mination.
The Tnistees acknowledge tILetr responsibilities for compl)ryn8 with the requirements of charity legislation wth
respect 10 accoiinting records and tbe preparation of accounts.
The Trustees sre satisfied that. &lthuuth Ihe Lhurily is uul Te8islered under Ihe CoTrpdnies Act4 if it were so
registerel it would be e]igible to prepose accounts in aceord8n¢e witb the provisiolls of Part 15 of the
Cornpanies Act 2006. app]icable to companies subject to the small ¢ompanI￿ ￿gime.
The notes on pages I I to 20 form an integral pRrt of these f￿￿k¢Ial st&tetnents.
Page 9

The Tudor House Museum Trust
Cbarity registration number: 1160419
Balance sheet as at 31 March 2025
I'be fjnancial statements on pagc5 8 to 20 wcrc approved by the tru5te¢s. ￿]￿ authoriscd for issue on
. a]]d signed on theii bet￿lf by:
MT R Chambet8
Trustee
Mr8 S Myn8rd
Trnstee
The notes on pages I I to 20 f(￿ an integral part of these fiuancial statemcEkts.
Page 10

The Tudor House Musellm Trust
Notes to the Flnancial Statements for the Year Ended 31 March 2025
l Aceounting polleieg
Summary of 8ignific8llt a¢¢ounting policies and key ac¢ounting estimate8
The principal accDullting policies applied the prepar81ion of these f￿￿]ciaL statements are set out below.
These poli¢ies have been consistently appliedto all the years presente(L unless oth¢rwi5e s18ted.
Statement of eompli8nee
The fmancial statements have been prepared on the accTh2als b￿15 in accoTdaTLce with Accounting and Rer)ortin8
by Charities.. St21ement of Recomroend¢d Practice applicable to charities preparing their accoiults in accordance
wittL the Finanoial Reporting Stand8rd app]ic8ble in the UK 2nd Republic of IrelAnd (FRS 102) (effective I
s￿llary 2019) - {Chariti&% SORP (r,R8 lQ2)), the Financi81 Reporting Standard applicable in the UK and
Republic of Ireland (FRS 102).
Ba$ls of preparation
The TudoT House Museutn Trust meets the definition of a public benefit entity under FRS 102. Assets and
liabilities ?￿ initially recognised at historical cost or transaction value unless othcrwisc 5tatcd in the Telev&]t
accoulltill8 policy notss. The Trnstees consider that that are no ￿￿terIal risks and future assumptions to be
disclosed.
Exemption from preparlng a eash flow stalemellt
ID¢ome #bd endowments
All income is re¢ogllised once the charity has entitlement to the income, it is probable th8t the incotne will be
received and the amount of thc imcomc Teccivablc can 7)¢ measured reliably.
Donalionj and legaci
Doll*tlOllS Are reco8uised wben the charity has been llotified in writiwd of botb tbe amoullt 2nd settlement dAte.
In the eveni that a donatii)n is subject to ¢oaditions tl]at require a level of perforn]ance by the charAty before the
charity is entitled to the tunds. the in¢i)tnc is dcterred and not recognised until cither thosc Conditions are ti]Ily
ei or the fulfthnent of those conditions is wholly witbin the cojttrol of the charity and Èt is probable that these
conditions will b¢ fuifffled in the reporting period.
Grants receivable
Grallts are recogDi8ed when tbe c]￿lty has an entiueffj￿t to the fjjnds and any Conditions linked to tbe grants
have been rnct. Wbert perforniance Conditions are attached to tbc gr￿t and are yet to be met, the income is
recognised as a liability 2nd included on the balance sheet as def￿Ted iELconLe to be released.
Expenditure
All expenditure alld IiEtbilities are recognised onoe there is a legttl or ¢onstn]ctive obligation to that expendittre
or li&biity and it is probable settlellLent is required and the amount can bc measured reliably.
Littbilities arising from firtUTe fundiog COD)milments and constructive obligations, including perfornLatLce related
grants, where the timing or thc amovnt of the Iliture expenditure rcquired to settle the obligation are uncertai
sive rise to a provision in ihe a¢¢ounls. whiLh is reviewed &t the arcountia8 year end. The provision is increased
tQ Teflect any increases in liabilities, and is decreased by the utilisation of any provision within the period, atld
reversed if any provision is no longer require& These movcmcnts are chllrged or credited to thc respective funds
alld &ctivities to which the provision relates.
Page 11

The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
Raifingfunds
These are costs incurred in artracring volunthry income, the managemeni of iuveslmenis and those incurred in
trading activities that raise fvnds.
Chanluble octiviftes
Charitable expendi￿re ¢omprises those costs itiCUTred by the ¢hority io the delivery of its a¢tivilies and services
for its beneficiaries. It iu¢li)des both cosls that ¢8ll be ailwated dircctly to such activities and thosc costs of 8n
indirect nature necess8ry to support them.
Government grants
Goverrnient grants are r¢cognised based thc accrual modcl and are mcasui'ed at the fair value ot. the as.set
received or receivable. Grantg are classified as relating either 10 Teventte or to assets. GTants relating to revenue
are recogwsed in illcome over tb¢ period in which the related costs ar¢ recognised. Gmts relating to assets Are
recoguised over the expected uscful life of the asset. Where part of & grdllt relatll￿ to 8n asset is deferrel it is
Teeogllised as deferred 2Dcome.
Volunteers
Jn accordance with the SORP. and in recoguition of the difficulties in placing a monetary value on the
oontribution from volunteer& the contribution of volunteers is not included within the income of the Gharity.
H¢)wever. the i￿ste¢S value the sigtiificant eontribution made to the activities of the charity by unpaid
volunteers and thi5 is described more fully in Note 7.
Taxation
The ohartty is cotLsidered to pass the tests set out ill Paragraph I Schedule 6 of the Finance Act 2010 for UK
orporatiou tBx purposes. AccoTdinglyJ the ckLarity is potetktially exernpt from t8XatioD in respect of income or
apital gaiDs rcceived within c&tcgorics covered by Chapter 3 Part i l of the Corporation Tax Act 2010 or
Section 256 of tbe Taxation of Chargeable Gains Act 1992. to the exlent that such income or gaills are applied
exclusively to ¢haLitoble purposes. Value Added Tax is not recoi'¢rnble by the oharity ond is therefore ittcluded
in the relevant costs in the Statemenl of Financial ArfivÉti¢s.
Winding up or disolutfion of the ¢barity
If upon willdiag up or dissolution of the charity there remaiEL anv assets, after tbe satisfaction of all debts and
liabilities. the assets represented by the accumulated ftmd sha]1 be tr8nsferr¢d to some other ch2ritable body or
bodic5 having similar objects to the cbarity.
Tangible fixed asscts
Tallgible fLxed assets are initially recorded at cosL less any subsequent accumulated d¢preciation and subsequent
accumulated impaimi¢nt losses.
Page 12

The Tudor House Museum Trust
Notes to the Fillancial Statements for the Year Ended 31 March 2025
Heritsge assets
The trustees consider that the vsst majority of items in tbe musewll collection would be difficult, if not
impossi17le, to value. Even if Val￿tiOnS could be obtained, the ￿sts would be onerous compared with the
benefit derived by the nluseum al￿ users of the fllwicial statements. As a rcsult, no valu¢ is reported for these
assets in the museum's balance sheeL
The cxccptions are for ILeritage assets capitalised by the prdecessor trust 8nd included in the transfer of
undertaking and for heritage assets purchased by this charity, which gr¢ capitalised if the cost j5 greater than
£1,000.
IteEnS ill the collection thot are capitalised are depreciat￿ at 5¥0 slraigbt linL.
DepreciHtiun and amortisation
Ikmrciation is provided on tangible fr<cd assets so as to write off the cost or valuation, Icss any estimated
residual Yalue, over dietr expected us¢￿1 economic Eife 8s follows..
knet class
rreehold builditigs
Fixtures and fittings
DepreclatloD method and rate
2Q/o straight lille
Iolyo straight line
Investment properti¢s
Investmeni property is carried ai fair vaIue, derived from th¢ current market prices for comp2r&bl¢ real estste
detenllined allnually by external valuers. The valuers use obscrvable market prices. adjusted if nec&8sary for any
difference io the nattwe. location or conditioll of the specific asset. Changes in fair value are xeeoguiscd in profit
or loss.
Fixed asset Investments
Fixed asset investmcllts arc includ¢d at market value at the balaace sheet date. Rea]iscd gains and losses 011
investments art ¢alculat¢d as thc diffeLEnce between sales proceeds and their llvdrkei value at the Start of the
year, or their subsequent cosl, and are chorged OT credited to the Statement of Financial Activities iu the period
of disposal.
Uurealised gains and losses represent the movement in market values during the year and are credited or
charged to t]]¢ Statemenl of Financia] Activities based on the niw'ket value at the year eniL
Cash and cush equivalents
C&slt and cash equivalellts coJnpTis¥ oll dwsi15. attd otFker short-ienn bigbly liquid
2nvestment5 that are readily convertible to a known amount of cash and are subject to an insi￿]￿￿( risk of
change in value.
Fund strueture
Unrestricted incoine funds arc general fun(Ls that av8il&ble £oT use at the t￿￿'tees, discretion in furtberan¢e of
Lhe objeciives of the chariry.
Page 13

The Tudor House Museum Trust
Notes to the Flnancial Statements for the Year Ended 31 March 2025
2 Income from donation$ and legaelex
Total
2025
Total
2024
Donaiions and le8acies-
Donations from individuals
Gratjts, iucludiug capital grdnis.
Gov¢nmient grants
5,440
3,707
5,000
10,440
3,707
3 Incotlle frorn other trading actlyities
Total
2025
Total
2024
Museum income;
Museum cvcllts
Jncome from rents (No 14 Church St)
1,060
9,211
205
4,025
10,271
4,230
4 Investment Income
Total
2025
Total
2024
tncome from invesiments portfolio
Income from rents (No 18 Church St)
9,382
9,250
9,741
9,941
18,632
19.682
Page 14

The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
5 Other income
Totsl
2025
Total
2024
]nsETrauc¢ proceeds
12,006
12,006
6 Expenditure on raising funds
Total
2025
Total
2024
Costs of refwbishmetEt of No 18 ChuT¢h St
Lnvesljnent managenlellt fees
Rental n￿llagenIent f
291
5,737
1,602
3.886
1,846
7.690
5,732
Page 15

The Tudor House Museum Trust
Notes to the Fillancial Statements for the Year Ended 31 iTrIarch 2025
7 Expejjdlture on charltable aetlvltle8
Total
2025
Total
2024
Rates alld water
Ligh¢ heat And power
Cleaning and waste mEwement
Premises rep8ir4 renewals and maintenance
Propety insurance
Telephone atLd internet
Postsge, statlQDery alld printing
Software licences alld expenses
Sundry exp¢nses
Depreciatii)n
C05t of clwit&ble lettillg on non invcstmcnt property
Independent examination
Bank charges
1,181
3.515
2,136
20,922
5,921
210
1,053
760
4,785
7,728
2,001
2,787
1,949
29,073
5,271
610
593
476
1,789
j i
7,728
553
728
2,424
1,104
369
52,108
53,558
8 Net In¢orniDg/outgoillg Mour¢es
Net ouigoiug resources for the ye8T include:
2025
2024
Depreciation of fixed assets
7,728
7,728
9 Other galnsl(losseg)
2025
2024
Realised gainsllosses on investment &85ets
Unre&lised gains11(￿se$ on investttLent assets
39.008
(41,181
6.243
56,189
(2,173
62,432
10 Trustees remunerotlon and expenses
No lrnslets, nor ally persons LoDnected with them, have received any remuneralion from the charity during the
Il The coutributlon ofvolunteer8
]]Je ch￿lty relies on voluoteers to tbc mu$eum on a day to day basis during opening hours by lookillg after
the reception of visit053. tn addition ttley help with the Cleaning ofexhibits, the amgetuent of new displ&ys. the
enhancejnent of the experience of visitors, espe¢ially chtldren. alld in Djaintaining and impmvin8 tbc garden.
Page 16

The Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
12 Tallglble fixed a8sets
Land and
buildings
Furniture and
equipment
Totsl
Cost
At l April 2024
438.050
3,947
441.997
At 31 March 2025
438,050
3,947
441,997
Depreciation
At I April 2024
Charge for the ycar
56,591
7.001
2.005
395
58,596
7.396
At 3 l March 2025
63,592
2.400
65.992
Net book value
At 31 March 2025
374,458
1.547
376,005
At 31 March 2024
381,459
1.942
383.401
13 Herltsge assets
Exhibits
Total
Cost
At l April 2024
At 31 Ma￿￿ 2025
6,647
6,647
6,647
6,647
D¢pre¢Ratlon
At l Ap1￿1 2024
Charge for the year
At 31 Ma￿h 2025
2,684
332
2.684
332
3.016
3.016
Net book value
At 31 March 2025
3.63 I
3,631
Pllge 17

The Tudor House Museum Trnst
Notes to the FinallCiAI Statements for tbe Year Ended 31 March 2025
14 Fixed #sset knvestm¢nts
2025
2024
InvGStmthit properties
Other invcsttnent5
127,000
429.344
127,000
439,634
556,344
566.634
Investment propertRes
No 18 Chureh
St
Cost or Valuatlon
At l April 2Q24
Vrovislo
127,000
At 31 M2rch 2025
Net book value
At 31 mY￿b 2025
127,000
Ar 3 1 March 2024
127,000
The freehold investmcllt property, 18 CburLh Streei, Upton-upon-severn, has been valued by thc Tn￿ee5. They
belieyc the cuirent value of the propety is a fair value.
Page 18

The Tudor House Museum Trust
Notes to the Finallcial Statements for the Year Ended 31 March 2025
12 Tanglble flx¢d a$$¢ts
Land and
buildings
Furni¢vre and
equipment
Total
Cost
At l Apiil 2024
438.050
3,947
441.997
Ai 31 March 2025
438,050
3,947
441,997
Depreciatlon
At l April 2024
Charge for the year
56,591
7,001
2,005
395
58,596
7,396
At 31 March 2025
63,592
2,400
65,992
Net book value
At 31 March 2025
374.458
1,547
376,005
At 31 Marnh 2024
381.459
1,942
383,401
13 Heritage assets
Exhibits
Total
Cost
At l Aprit 2024
6,647
At 31 March 2025
6,fv17
6,647
Depreeiation
At l April 2024
Charge fnT the year
At 31 Ma￿h 2025
2,684
332
2,684
332
3.016
3,016
Net book value
At 31 March 2025
3.631
3,631
Page 17

The Tudor House museu￿ Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
14 Fixed asset illvestm¢nts
2025
2024
IEkve$tm¢nt piY)perties
Other investments
127,000
429,344
127,000
439,634
556,344
566 634
Illve5tment propertie8
No 18 Church
St
Cost or Valuatlon
Ai i April 2024
Provtslon
127,000
At 31 March 2025
Net book value
At 3 l March 2025
127,000
At 31 March 2024
127.000
The freehold investjnent property, 18 Cburch Street, Upton-upon-severn, Jw beell valued by tbe Trustees. They
believe the currellt value of the propety is a fair value.
Page 18

The Tudor House Museum Trust
Notes to the Financial Statements for tbe Year Ended 31 March 2025
Other Investments
Listed
investments
Total
C￿t orvaluatlon
At l Api'il 2024
Revaliiatioa
AdditLOJIS
Dispo.8&ls
439,634
439.634
(41,231)
(41,231)
164.043
164,043
(133,102) (133,102)
At 31 March 2025
429.344
429,344
et book valuo
At 31 March 2025
429,344
429,344
At 3 1 M￿￿ 2024
439.634
439,634
Thc listed inveslments have been valued by Ch8rles Stanley & Co Limtfe& members of the London Stock
Exchange.
IS Debtors
2025
2024
Prepaymellts
2,017
1.888
16 Creditsbrs: amouDts falllllg due within one year
2025
2024
ACGn￿lS
1.226
1,226
Page 19

Tbe Tudor House Museum Trust
Notes to the Financial Statements for the Year Ended 31 March 2025
17 Fund8
Other
recogni$ed
gains1(losses)
Balance at
31 March
2025
Bglanctt at I
April 2024
IncomlDg
resources
Re8ollrces
expended
Unrestrleted funds
General
UEurstricted revenue fund
978,081
59,798}
(2.173
955,453
Other
recognl$ed
gainslOos5es)
Balance at
31 Mxrch
2024
Balance at I
April 2023
IncomSng
resourees
Resour¢es
espended
Unrestrleted funds
General
UDfcslricled revenue fi￿d
935.314
39,625
(59,290
62,432
978,081
Unrestiicted fimds represents the fl￿￿$ arising from PBSI operating results. These are available to be used for
uy purpose so Iollg as it ULeets the airlls and objectives of the charity as outlined in the governiug doCu￿ent.
18 iQtlmale controlllng party
The charity is under the Colltrol of its legal members which the tn￿tecs.
Page 20