Charity number. 1163401
Company number CE004599
CARPET MUSEUM TRUST
UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2024

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
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CONTENTS
Page
Referen￿ and administrative details of the charity. it5 trustees and advisers
Trustees, report
Independent examlner's ￿port
Statement of financial activities
Balance sheet
Note5 to the hnanaal statements
8-15

CARPET MUSEUM TRUST
TRUSTEE REPORT AND ACCOUNTS 2024
REFERANCE AND ADMINISTRATIVE DETAILS OF THE CHARITY. ITS TRUSTEES AND ADVISERS
Trustees
E A Pu8h-Cook
l R Perrin
D H Freeman
G Cooper
D V Adam (Chairl
D Wheadon
D H Briggs
G Gilbert
J T Hopkins
J Preece- 21st November 2024
Charity RegFStered Number
1163401
Prin¢lpal office
Stour Vale Mill. Green Street. Kidderminster. Woreestershire, DYIO IAZ
Independent Examiners
Ormerod Rutter
Chartered Accountants
The Oaklev
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankèrs
HSBC UK
31 Church Street.
Kiddemiinster
DYIO 2AY
Pagel

CARPET MUSEUM TRUST
TRUSTEE REPORT AND ACCOUNTS 2024
NOTES TO FINANCIAL STATEMENTS
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The Trustee5 present their annual report together with the financial Statements of the charity for the year to 31st
December 2024. The Trustees confirm that the Annual Report and financial statements of the charlty complv
with the current statutory requirements. the requirements of the charity's Bovernin8 docurnent and the provisions
of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in
accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 102lleffective
1st january 20191.
Objects
The objects of the CIO are
To establish and maintain a museum andlor art gallery for the benefit of the public and to
advance education for thè benefit of the public.
Nothing in this constitution shall auihorise an application of the property of the CIO for the
Purposes which are not charitable in accordance with section 7 of the Charities and Trustee
Investment Iscotlandl Act 2005 and Section 2 of the Charitie5 Act INorthern Ireland) 2008.
Powers
The CIO has power to do anythin8 which 15 calculated to further its objects or is conducive or
incidental to doing so. In particular. the CIO has power to..
111 borTOW money and to charge the whole or any part of lis property as security for ihe
repayment of the money borrowed. The CIO must comply 35 3ppropriate vAth sections 124 and
125 of the Charit*s Act 2011. if it Wshes to mortgage land,.
121 buy, take lease or in exchange, hire or otherwise acquire ary property and to maintain and
equip it lor use,.
131 sell, lease or otherwise dispose of all or arry p3rt of the property belonging to the CIO.
In exercisirg this power, the CIO must iomply as appropriate with sections 117 and 119-123 of the Charities
Act 2011 and adherence rnu5t bè given to the Code of Ethics of the Musewn's Association and its Disposal Kit
as issued from time to time.
141 employ and remunerate such staff as are necessary for carrying Qut the work of the ao.
The CIO may employ or rernunerate a charity trustee only 10 the extent that it 15 permitted to do
so by clause 6 (Benefits and payrr*nts to charity trustee5 and connected persons) and provided
it complies with the conditions of that clause;
151 deposit or Invest funds. employ a professlonal fund-mana8er. and arrange for the investments or other property of the
CIO held In the name of a nominee. in the samè manner and subject
to the same conditions as the trustees of a trust are permitted to do by the Trustee Act 20￿.
161 the Museum shall be a public museum for the exhibition of items of local. historic31 and educational interest and in
particular in any way connected to the manufacture of carpet5 ènd simllar textiles.
171 to hold and acquire collections for the long term public benefit.
Objectives and ActSvftles
l. Pollcles and objectlves
The purpose of the charity is to e5tabli5h and maintain a museum and/or art gallery for the benefit of the public
and to advance education for the benefit of the public. The Museum, its Archives and L￿brary were opened to
the public on 19 October 2012.
The MuseLbm explains the history rf carpet weamng in ￿ddermIn5ter wtth working hand and power looms,
demonstrations of spinning yarn and weaving. exhibitions and assisted research facilities in its collection5. It has
a running programme of family, school and adult group visits. Due consideration has been given to the
published guldance on the Publle benefit requirement under the Charities Act 2011.
Page 2

CARPET MUSEUM TRUST
TRUSTEE REPORT AND ACCOUNTS 2024
NOTES TO FINANCIAL STATEMENTS
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2. Achlevemonts and performancè
a. Key financial perlormance Indkators
The charity had income of £90,897 during the year, of which £32,376 was for restricted purposes.
b. Activities
Apart from admissions, which remain static, we have continued to place the ernphasi5 on fvndrai5ing athvities with walks
and talks. school visit5 and iunninÈ courses on various craft activities in particular for children. Room hire continue5 to be
one of our main means of producing a regular income and demand remains strong. We held a Summer exhibitton, funded
from our grant from the Arts Council. We continued to promote the contact with our Corporate Partners. Our Retail sale5 01
both items made by volunteers and those brought in improved and exceeded the budget by40% with partiCLAar empha%s on
items for the various special events, Easter, etc.
We continued to work with consultants. funded by West Midland5 Museum Development, to look at ways of increasing ways
that will lead to a more resilient future, which led to a review of our staffing and appointing a Museum Development
Manager who started in January 2025. Our Archive is an important part of our activities and we contlnued to recelve
donatlons. Ways that we can monetarise how Archlve are stlll belng explored.
c. Nnanclal Revlew.
We had budgeted for a deficit of £21,OIKJ and the outcome was £16.000 before depreciation. Two member5 of staff left in
October and they were not replaced but this saving was offset by one of our tenants not Tenewing their lease after I" April
and a new tenant has not yet been found, there wa5 a loss of income of £9,000 as result of this. Fundraising through the use
of our facilities was disappointi￿ with a budget of £40.000 but we only received £27,000, on the plu5 side. fundraisin8
though donations and grants was more promisin8 Wlth a budgeted amount of £5.500 and we received £15,800 with one of
our volunteer fundraisers raising £6,400 during the year. Our staff rnembers, funded by the Arts Council until May 2025. have
made a number of applications for larger grants. of which one for £20,(X)O has been recetved in 2025 and there are a number
of othèrs awaitin8 a decision.
d. Golng Concem.
We conslder that with addition81 funding in 2025, and the use of some reserves, we will still be able to operate as a goin8
concern but by the end of 2025 will have used all our reserves and 50 It Is impeiative we secure a stable and lasting additional
Income source. An operatlon manager was appointed, using an existing member of staff with additional hours. Trustees took
on a more active role. In De￿mber 2024 a Museum Development Manager was appointed. An interim budget for 2025 has
been agreed, to be under constant rewew, and if additional funding 15 not found them a further review of staffing and other
costs will take place.
e. Reservès polity.
The Trustees have established the Charity's Reserves Polity with reference to the Charity Commission guidance ICC 191 and
accounting standards IFRS 1021. The intention 15 to have 3 month5 Unrestiicted Reserves which would be £20,￿)0 and cash
flow is monitored carefLtlly on a continuing basis to meet this objective but it was not Possible to do this in the year. At the
end of 2024 there were free reserve5 of £10,059 and Designated Fun(ts of £18,750 of which £17,500 is a Safety Net prowsion.
Structure. 8oveman¢e and management
a. Constitution.
The nature of the governing document is a Charitèble Incorporated Organisation entered on 3 September 2015.
The Deed re8ulate5 the election and appointment of the first and subsequent trustees.
In 2018 Charily Commission had recommènded a new governance code for ￿aller charities. The trustee5
embrace the aspirations of that code and have implementing its principles and practices.
In 2019 the Constitution was amended to include additional powers to be able to a¢hleve accredltatlon durlng 2020.
Page 3

CARPET MUSEUM TRUST
TRUSTEE REPORT AND ACCOUNTS 2024
NOTES TO FINANCIAL STATEMENTS
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b. Method of appolntment or electlon ofTrustees
The management of the charity ￿ the ￿spOnsIbl11ty d the Trustees tho are elected and co-opied undei the terms of
the charital￿e Incorporated Or8anisation.
c. Pollcies adopt•d for the indurtion and training of Trnstees
All the Trustee5 Use the Charity Commission 8uidelines for trustees a5 a reference.
d. Rlsk management
The Trustees have assessed the major risks to which the charity is exposed, in particular those related to the
operations and frnances of the charity. and are sat15fied that systems and procedures are in pla￿ to mitÉgate our exposure
to the major risks.
5. Future developrnents.
To continue to expand our range of artivities. with particular emphasis on the educations aspects with more school Msits.
Fundraising will be important and with the appointment of a Museum Development Mana8er we will be looking for means
of ensuring a more stable future with the expansion of involvement in creating partnerships. We will be looking at ways we
can involve ourselves in projects, but the emphasis will be on fundraising to meet potential deficit
This report was approved by the Trustees at its meeting on 19th February 2025 and signed on their behalf by..
Trustee
Page 4

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2023
INDEPENDE￿ EXAMINERS REPORT
ST
FOR THE YEAR ENDED 31 DECEMBER 2024
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I report to the charity Trustees on my examination of linancial statements of Carpet Museum Trust for the year ended
31st December 2024.
Responslbilitles and Basis of Report
As the Trustee5 d the charity are responsible for the preparation of the aecounts n accordance with the
requirements of the Ch3rities Act 20111'the 2011 Act'l.
I report in respect tsf my examination of the charity's accounts carrled out under section 145 of the 2011 Act and
in carrying out my examination I have followed all the ¥plicable Directions given by the Charity Commission
undersection 14515llbl of the 2011 Act.
Independent Examiner's Statement
I have completed my examination. I confirm that no matters have come to my attention in ccmnection with the
examination giving me cause to believe that in any material respect..
Your attention 15 drawn to the fact that the charity has prepared the accounts in accordance with Accounting and
Reporting by Charltles.. Statement of Recommended Practice applicable to charities preparing their accounts
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 In
preference to the Accounting and Reporting by Charities.. 5tstement of Recommended Practice issued on l April
2005 which is referred to in the extant regulations but ha5 been withdrawn.
l understand thatthi5 has been done in ordeT for the accounts to provide a true and fair view in accordance with
the Generally Accepted Accounting Practice effective for reporting periods beginnirE on or after l January 2015.
aetounting records were not kept in respert of the charity as requlred by sectlon 130 of the 2011 Act,. or
the accounts do not accgrd with those records,. or
the accounts do not comply wlth the applicable requirements cO￿erning the forni and content of
accounts set out in the Charities (Accounts and Reports) Regulatlons 2008 other han any requirement th3t the
accounts give a'true and fair. view which is not a matter considered as part of an Independent examinaJon.
I have no concerns and have come across no other matters in connection with the examination to whlch
attention should be drawn in this feport in order to enable a proper Understandi￿ of the accounts to be reached.
Si8ned
Is jos/2025
Colm McGrory FCA
Ormerod Rutter ￿mIted, Chartered Accountants
The Oaklev.
Kidderrninster Road
Droitwith.
Worcestershire
WR9 9AY
Page 5

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
STATEMENT OF FINANCIAL ACTIVITIES
SY
FOR THE YEAR ENDED 31 DECEMBER 2024
***¢*￿***￿**￿￿***￿**￿**￿**#•**￿*￿****•*￿**￿**￿**********V￿•W*****￿k**￿A*￿**+
Unrestrtcted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Totul
Funds
2023
Notes
Income from:
Donations and Legacies
Activitie5 for Generatin8 fund5
9.920
299
10,219
31.772
9,790
31,772
43.146
Income Sources from Ch3ritable Activities
16,829
32,077
48,906
32.423
Total Incomè
58.521
32.376
90,897
85,359
Expenditure on:
Fundraisin8
617
10,167
10,167
6.949
Charitsble Activitie5
Museum
617
617
6n
617
38,333
38.333
51,035
Community
13,659
13.659
5.498
Collection
6,015
375
6.390
5.102
Building Conservation
Building a Resilient Future
Retail Shop
3.269
3,269
1.200
29,295
29,295
16,657
6n
617
5,820
5,820
2.262
Total outgolng resources
73.994
32,939
106,933
88,703
Net movement in funds befo
jLtstments
115,4731
15631
116,0361
13,344)
Depreclatlon Charge
IncomellExpendlturel for the year
Redurtlon In Credltors
131.1251
131.1251
131,125)
115,4731
131,6881
147.1611
(34.469)
10.799
Totsl funds brra￿h1 forward
44,282
1,191.922
1.236.204
1.259.874
Totsl fvnd5 carried forward
28.809
1.160,234
1,189,043
1,236,204
Page 6

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
BALANCE SHE
5T
FOR THE YEAR ENDED 31 DECEMBER 2024
Notes
2024
2024
2.023
Fixed Assets
Tangible Fixed Asseis
I.1￿.798
L191,923
Currènt Asset5
Stock5
Sundry Debtors
Cash at Bank and In Hand
li
12
3,881
9.950
3.139
9,934
49,290
65,399
Creditor5
Amounts falling due within one year
13
Nèt Current Assets
Net Assets
1189 043
1236 204
Funds
Unrestrlcted Funds
Free Re5eTves
Designated- Loom Prolect
Designated- Safety Net
io
10.059
1.250
25,532
1.250
44.282
Restrteted Funds
Capital
Revenue
Total Funds
1,160.798
565
1,191,923
1160 234
1189 043
The Flnancial Statements were approved by the Trustees and signed on their behalf.
The notes on pages 8 to 15 form part of these Financial Statements
yz
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTESTO THE FINANCIAL STATEMENTS
**￿￿**￿*********￿th*A*￿***A￿******￿￿***********￿****￿￿***fr#**•*￿**￿￿**￿**•
l. Accounting Policies
Legal stztus
The Carpet Museum Trust Is a Charltable Incorporated Organisation ICIOI. whose registered office
is Stourvale Mill, Green Street Kidderminster. Woreestershire, DYIO IAZ.
al Accounts Conventlon.
The accounts have been prepared in accordanee with the Chariws Constitution, and "Accountin8 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 IFRS1021- leffective I" january 20191. The charity
is a Public Benefit Entity as delined by F￿102.
The accounts are prepared in Sterllng, which Is the functlonal currency of the Charity. Monetary amounts in these financial
statements are rounded to the nearest £.
The accounts have been prepared under the historital cost convention.
Capital grants are recognised 35 designèted incorne when receivable and this departure from financial reporting standards IS
necessary in order to show a true and fèir view, in accordante with SORP IFRS 1021
Three types of fund are held, restricted. general or designated Safety net funds cannot be used without the approval of the
Directors/Trustees.
When posslble. expenditure is char8ed to the charitsble artivity to which it relates. Costs that cannot be dealt with in thls
way are apportioned as a percentage overhead. Apportioned costs are premises and office costs.
Going Con￿rn
At the time of preparin8 the accounts, the trustees had a reasonable expectstion that charity has adequate resource5 to
continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of
accounting in prepaiing the accounts.
Governance Co#$
Any costs that can be identified aTe Charged direct. Staff time is allocated according to the percentage spent directly on
governance. together with a proportion of premises and office costs. In accordance wth SORP IFR5 1021 governance costs
are now treated as overheads and allocated over the other services.
bl Incomlng resources
Grants receivable
Grants made to finance the activities of the Museum are credited to the incorne and expenditure aetount in
the period to which they relate.
Other income
Sales of servlces are Included In the Income and expendlture account in the period to which they relate. Other
income. including donats'ons, gifts and covenants are included as they were recelved.
Deferred income
Grants received in advance of the period in which the funder requires the expenditure to be applied will
reflected sn deferred income within the balance sheet.
Page 8

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTESTO THE FINANCIAL STATEMENTS
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Re50urce5 eKpended
All expenditure is accounted for on an accruals basis. All expenditure dIreC￿V related to the provision of advice
services is included within charltable expenditure. Other c05ts incurred have been allocated between fundraisin8 and
publicity and management and administration as appropriate. Where such costs relate to rnore than one functional
cost category they have been split on an estimate of time or floor space basis. as appropriate.
dl Basic financial assets
Basic financial assets, which incI￿￿e debtors and bank balwces. are initially measured at transaction pri￿ includin8
costs and are subsequently carried at amort15ed cost using the effective interest method unless the arranÈemernt
onstitutes a financing transaction. where the transaction is measured at the present value of the future receipts
discounted at a market rate of interest. Financial assets cla&sified as receivable within one year are not amortised.
el Impairment of financial assets
Financial assets. other than those held at fair value through income and expenditure, are assessed for indic3tors of
impairment at each reporting date. Financial assets are impaired where there 15 objective eVIde￿e that, as a result of
one or more events that occurred after the initial reeognit6on of the financial asset, the estimated future cash flows
have been affected.
If an asset is impaired, the impairment105S IS the difference between the carrying amount and the present V8lue of
the estimated cash flow discounted at the asset's original effectwe interest rate. The impairment loss is recognised in
net incornel lexpenditurel for the year.
If there is a decrease in the impairment10s5 arising from an event occurring after the impairment was recognised. the
Impairment Is reversed. The reversal is such thal the current carrying arnount does not exceed what the carryin8
amount would have been. had the impairment not previously been recogni5ed.
The impairment reversal is recogrnsed in net income lexpenditurel for the year.
Dere¢o8nltlon of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expires or are
settled, or when the charity transfers the finanaal asset and 5ub5tantially all the risks and reward of ownership to
another entity, or if some significant risk and rewards of ownership are retained but control of the asset has
transferred to anotheT party that is able to sell the asset in its entirety to an unrelated thlrd party.
gl Baslc flnan¢lal IlablE1t￿S
Basic flnancial liabill￿es. Includlng credit￿5 and bank loans are Initlally recognlsed at transaction price unles5 the
arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the
future payment5 di￿o￿nted at a market rate of Interest. Financial liabilities classified as payable withln one year are
not amortised.
Debt Instruments are subsequently carrted at amortised c05L u5in8 the effective rate method.
h) DereCOgn￿1O￿ of financlal Ilabllltles
Financial liabilities are derecognised when the charitls contractual obligations expire or are discharged.
Flxed assets and depretlatlon
Fixed assets are incl¢Jded at cost less depreciation. Depreciation is ¢h3rged on a stralght Ilne basis
on the costs of the assets over their estimated useful lives as follows:
Long-temi leasehold property
over the life of the lease
FixtUTes and fittinÈs
IO% straight line
Office Equipmet)t
33% Straight Line
Page 9

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTES TO THE FINANCIAL sTATEME￿rs
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The depreciation policy has been reviewed in accordance with FRS 102 and no change has been made
from the previous year.
The provision for depreciation of fixed 35sets is shown as part of notes to the Statement of Financial Acti¥Mties.
Fixed assets are either financed from grants or by uslr*g Reserves. When Reserves are used the cost is written a5
charge to Revenue, but when financed from a grant then the income resource is shown in the Staternent of Financial
Activities and credited to a Designated Capital Reserve.
Restrirted funds
Income received for the restr7Cted purposes is included in a separate restricted fund a8ain5t which appropriate
expenditure is allocated. Restricted funds can only be used for particular restricted purposes within the objects of the
charity. Restriction5 arise when specified by the donor that any unused funds may have to be refunded, if the objective
of the funding is met and there is no obligation to refund any surplu5 then those fund5 are tre3ted a5 unrestricted.
kl
Designated funds
Designated funds are allocated out of unrestricted fund5 by the trustee5 for specific purp95es. The use of such funds
is at the trustees, discretion.
Unrestricted funds
Unrestricted funds can be used in accordance with the charitable objectives at the dlscretion of thè trustee5.
Cash Flow
The ¢harity has taken advantage of the provisions in the SORP for charitie5 applwn8 FRS102 Update Bulletin I not to
prepare a Statement of Cash Flow.
Further explanation of the nature and purpose of Èach fund is included in the note5 to the financial statements.
Taxation
The Carpet Museum Trust is re8lStered with the Charity Commission and under the provision5 of the Income and
Corporation Taxes Act 1988 and exempt from liability to taxation.
Capltal Grants
Capital grants are ￿t0@nized as intorne in the designated fund when receivable and a departure from
Financlal Reporting Standards is necessary in order to show a true and fair view in accordance with the Statement of
Recommended Practice 50RP IFR51021.
pl
Penslons
All employee5 who qualify for a workplace penslon have been enrolled in the Nationèl Employers
Savings Trust INESTI pension 5theme and the statutory deductions are made or other such
arrangernent as agreed with employees.
ql
Stocks
Stocksa re valued at the lower of cost and net realisable value after maklng due allowance for
ob501ete and slow-moving stocks. Cost includes all dirett costs and an appropriate proportion of fixed and
variable overheads.
Role of Volunteers
The charity his in the region of 40 volunteer5. The value of these is not incorporated within
these accounts.
Pagelo

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUMTS 2024
NOTES TO THE FINANCIAL STATEMEMrs
3. Income donations
Unrestricted
Restricted
Total
Total
Funds
Funds
Funds
Funds
2024
2024
2024
2,023
Donations
Totsl
9.920
9,920
299
299
10.219
10.219
9.790
9.790
4. Attivities for
Generating fvnds
Unrestricted
Funds
2024
Restricted
Funds
2024
Total
Funds
2024
Total
Funds
2.033
Room Hire
Rental Income
Shop Sales
Mr5 A Pugh Cook
Commission
10.856
11,916
3.523
10.856
11.916
3.523
10.792
20,792
2.438
141
147
4.283
500
547
147
138
Corporate Sponsorship
Fund Rai51ng
Other Income
Total
4.283
500
547
1.845
43.145
31.772
31,772
5. Charitable Income
Unrestricted
Fund5
Restricted
Funds
Total
Funds
Total
FunGIs
20Z4
2024
2024
2023
Admissions
Community Actlvlties
Arts Council Grant
Roger & Douglas Tumer
Charitable Trust
AIA Grant
Vosey Society
The Grimmit Trust
LCJohnson
The Quayle Trust
moges Trust
Blakemore Foundatton
Other Income
7,794
2,474
7,794
2,474
29,295
10,370
2,196
16.657
29.295
3,000
3,000
2.407
375
2.407
375
1,200
500
600
1,000
loo
161
1.200
1.2IKI
500
600
1,000
100
161
16,829
58.521
32,077
32,376
48,906
90,897
32.423
8S.359
Total
Page 11

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTES TO THE FINANCIAL STATEMENTS
Direct Costs
Item
K4useum
Commurity
Cdlectlon
Fundraising
Arts
Fwd
Total
2023
Staff - Pay. Nl and
Perbsions
Admission ch￿e&
Ethibilion & Event Costs
10.578
8.608
3,511
970
26.654
50.321
46.049
143
1,423
1.666
Building Conservalion
Card Reader Charles
Con5ultsnts FEe5
3.269
3.269
204
1,2(M)
177
204
375
375
Subsc¢iptlons
Consumablès
71
71
25
Marketing
Advertising, LèaflÉts
Travel Costs
116
116
151
3%
396
218
41
Craft Materla
83
193
Fees
Refreshments
337
110
452
375
Volunteer5 Expen5e5
Conseivation
76
76
Statlonary. Equlpment
ttin85
Axlal Software
41
59
1,454
1.725
1.725
1.758
1.453
Profe551Qt*lServ1¢e$
650
1.108
241
Tutor5 Fees
181
Overheads
26.024
6.941
3.143
3.411
6,800
46.319
36.866
Total
37.394
16.120
5.324
6,9
8,$48
3,269
29.295
1(￿.938
8B.703
Page 12

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTES TO THE FINANCIAL sTATEmE￿rs
*rt***A****•*yA*￿*•***•*****•***+*******￿***￿*￿•*****#**ts*****+***ts*****+th￿*￿tr
7. Support Costs
Ite
Museum
Communily
Cc41ection
Retal
FurKlrai6ing
Total
2023
Stsff - Pay, Nl and Pen5K)n5
Bank Charges
Bulding M8inlenance
Conlracis
8ullding Repai
Examiners Fee
S.548
36
4,515
1.841
509
12.413
102
4.851
96
1.784
263
107
526
2,680
3,338
1.976
400
291
80
120
582
2.969
1.120
1.805
400
80
160
FLYnllure & Equpment
Gas
7,988
4,472
232
1,177
659
481
2,354
1,318
12.000
6.718
10.713
5.(KlO
507
Insurance
269
IT str¥￿e$, elc.
K￿dermIn$1er BID
232
46
46
372
371
74
74
149
1.040
Leiiing Agenis Expenses
Rales
245
245
49
50
149
Payroll Processlng
Professits)al SeMce8
295
295
59
58
118
825
835
3.186
510
Swttary & Cleanirg
Securrty Key Holding & Call
490
72
30
144
736
469
28
138
704
678
SI•K)nary & PtK%iagé$
Subscription5
Sundrie$
87
67
87
67
17
35
243
156
13
27
187
120
44
44
18
123
Tdecoms
649
649
130
128
1.616
1.143
360
Traininy
Travel & Expertses
Wasle Disp0$81
Wat
248
15
73
372
350
622
92
38
183
935
To
26.024
fj,941
3,143
3.411
6.800
46.319
3e,866
Tangible Fixed Assets
Lon8Term
Leasehold
Property
Fixtures&
Off￿8
Equipment
Fittlnss
Total
1st January 2024
1.556.155
346,SX)4
36,742
1,939,901
31, Oerember2024
1.556.255
346.9)4
36,742
1,939,9DI
DÉpr•clatkin
1° January 2014
Ch?rEedyear
ai. December 2024
364,332
31.125
395,457
34S,9D4
36,742
747.978
31,125
779,103
346.SY)4
36.742
Bookvalue
Istlanuary 2024
L19l.923
1.191.9Z3
31st DÈcember2024
1,160,798
1.160.798
Page 13

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTESTO THE FINANCIAL STATEMENTS
*￿*****￿vA****￿***￿***￿*￿th*￿*￿***￿****￿**************￿************￿********￿***
9. Net Income lexpenditurel
This is stated after charging
2024
2023
Depreciation of tangible fixed assets
-owned by charity
31.125
31.125
The Independent Examiner's fee is £1,12012023 - £9601.
10. Net Movement of Funds
Net Movement
in Funds
Transfers
Between Funds
At 1.1.2024
At 31.12.2024
nrestricted Funds
eneral Funds
otal
44.282
44,282
115,4731
115,4731
28,809
28,809
estricted Funds
General Funds
Capital Funds
Total
15631
15631
1,160.797
1.160.234
1,189.043
1,191,922
1,191,922
1,236,204
131.1251
131,1251
146,5981
15631
15631
Total Both
The Capital Fund Is amount spent on rènovation and fitting out of the building and is written down each year.
11. Stock
2024
2023
Merthandi5e
Ll 3139
12. Debtor5
2024
2023
Trade Debtors
Other Debtors
Prepayments and Accrued Income
Total
3,196
1,200
26
950 9 934
13. Creditors
2024 2023
Trade Creditors
Other Creditors
Aecruals and Deferred Income
Total
8,199 4,172
233
233
12 613 16 713
21045 21118
Page 14

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2024
NOTES TO THE FINANCIAL STATEMETrirs
14. Deferred I￿Ome
2024
2023
I" January 2024
Resources Deferred during year
Amounts Released from previous year
Deferred Income 31" December 2024
15.634
12.613
115 634
182
15,634
182
15.
Flnanclal Instwmènts
2024
2023
Financial assets measured at amortised cost
Financial liabilities measU￿d at amortised cost
Financial assets measured at amortised cost comprising cash at bank and in hand, and trade debtor.
rrnancial liabllities me3sured at amorty5ed cost comprising trade creditois. VAT. PAYE and othw creditor5 and accruals.
16. 5tsff Costs
Staff cost5 were as follows
2024
2023
Wages and salaries and pension contributions.
No employee received remuneration amounting to more than £60,0(M) in eIt￿r year. The key management personnel of the
charity consist of the Trustees and the Museum Mènager. The total remuneration paid to the key management personnel
during the year was £21.79312023- £10,035). Average staff during the yearwas 4. No Trustees received any remuneration
12023 £NILI. Duriryg the year, no trustees received any benefits in kind12023- £NILI. During the year. no trustees received
any reimbursement of expenses 12023- £NILI.
17. Operatlng lease commltrnents
At 31 December 2024 the total of the Charily's future minimum lease payments under non-cancellable
Operatin8 leases was..
2024
2023
Amount payable
After more than 5 years
18. Related party trzFtsactions
There were no related partytransactions during the year.
Page 15