Charity number.. 1163401
Company number CE004599
CARPET MUSEUM TRUST
UNAUDITED TRUSTEES. REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31st DECEMBER 2025

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
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CONTENTS
Page
Reference and admlnlstratlve details of the charlty. its tnjstees and advisers
Trustees, report
Independent examinels report
Statement of financial activities
Balance sheet
Notes to the financial statements
8-15

CARPET MUSEUM TRUST
TRUSTEE REPORT AND ACCOUNTS 2025
REFERENCE AND ADMINISTR4TIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS
￿*￿*￿*￿￿+￿*￿•****l***•*1**tt*******$******lX￿*1￿I********A**I￿*￿•*******P*•**t**￿+
Trustèe5
G Gilbert Ichairl
E A Pugh-cook
J R Perrin
G Cooper
DVAdam
J Talbot
D Wheadon
S L V Hollands-appointed 21"January 2026
S Shaw- appointed 24" February 2026
M Lotus-appointed I" May 2026
D Laverty-appointed I" May 2026
J Preece- ￿Signed 20, August 2025
H Freeman- resigned 21, August 2025
D H Brlggs- resigned 24, February 2026
l T Hopkins- deceased I" February 2026
Charity Registered Number
1163401
Princip31 office
Stour Vale Mill, Green street. Kidderrnin5ter. Worcestershtre. OYIO IAZ
Independent Examlners
Ormerod Rutter
Chartered Accountants
The Oaklev
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
HSBC UK
31 Church Street.
Kidderminster
DYIO 2AY
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
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The Trustees present their annual report together with the financial statements of the charity for the year to 31st
December 2025. The Trustees confirm that the Annual Report and financial ttatements of the charlty comply
with the current statutory requirement5, the requirement5 of the charity's 8overnin8 document and the provisions
of the Statement of Recommended Practice ISORPI. applicable to charities preparing thelr accounts in
accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102lleffecttve
1st January 20191.
Objects
The objects of the CJO are
To establish and rnaintain a museum andlor art gallery for the berefit of the P￿blIC and to
advance education for the benefit of the public.
Nothin8 in this constitution shall authorise an application of the property of the CIO for the
Purposes which are not charitable in accordance with section 7 of the Charitie5 and Trustee
Investment (Scotlandl Act 2(M)5 and Section 2 of the Charities Act (Northern Ireland) 2008.
Powers
The CIO ha5 power to do anythlng whlch Is calculated to further Its objects or Is conducive Of
incidental to doing 50. In particular, the CIO has power to..
111 borrow money and to charge the whole or any part of its property as securityf()r the
repayrnent of the money borrowed. The CIO must comply as appropriate with sections 124 and
125 of the Charitles Act 2011. If it wishes to mortgage land..
121 buy, take on lease or in exchange, hire or otherwise acquire any property and to maintain and
equip it for use,.
131 sell, lease or otherwise disp05e gf all or any part of the property belonging to the CIO.
In exercising thi5 power. the CIO must comply as appropriate with sections 117 and 119-123 of the Charities
Act 2011 and adherence must be given to the Code of Ethics of the Museum's Association and its Dispos31 Kit
35 Issued from time to time.
141 employ and remunerate such Staff as are nece55ary for Carrying out the work of the CIO.
The CIO may employ or remunerate a charity trustee only to the extent that it is permitted to do
so by clause 6 IBenefits and payments to charity trustees and connected persons) and provided
it complies with the condition5 of that c13use.'
151 deposit or invest funds, employ a professional fund-mana8er, and arran8e for the inve5trnents or other woperty of the
CIO held in the name of a nominee, In the same manner and subject
to the Same conditions as the trustees of a trust are permitted to do by the Trustee Act 2000.
161 the Museum Shall be a public museum for the exhibition of items of local. historical and educational interest and in
particulai in any way connected to rhe manufacture of carpets and similar textiles.
171 to hold and acquire collections for the long term public benefit.
Objectlves and Activrties
l. Policies and objertlves
The purpose of the charity is to establish and maintain a museum and/or art galleryfor the benefit of the puljic
and to advance education for the benefit of the public. The Museum, its Archives and Library were opened to
the public on 19 October 2012.
The Museum explains the history d carpet weawng in Kidderminster with working hand and power loorns.
deMonst￿tIOnS of spinning yarn and weaving, exhibitions and assisted research facilities in its collections. It ha5
a running programme of family. school and adult group visits. Due consideration has been given to the
published 8LO1dan￿ on the Public berlefit reqltirement under the Charltles Aet 2011.
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND Accou￿rS 202S
2. Achlevements and performance
a. Key financial performance indicators
The charity had income of £97.528 during the year. tsf which £10,605 wa5 for restricted purposes.
b. Activitres
Apart from admission5. which Temain static. we have continued to place the emphasi5 on lundraising 3ctivities with walks
and talks, school visits and running courses on various craft activities in particular for children. Room hire continued to be
one of our main means of producing a regular income and dem3nd remains strong. Our Retail sales of both item5 made bv
volunteers and those brought in irnproved and exceeded the budget by 300% with particular emphasis on items for the
various special events, Easter, etc. The decision to close in December resulted in a very large number of visitors and so
income from admissions and shop sales exceeded the bud8et by £7.000.
Our Archive is an irnportant part of our activities and we continued to receive donations. Ways that we can monetarise the
archive arè still being explored.
We continued to work with consultants, funded by Museum Development Midlands, to look at ways of increasing revenue
that will lead to a more resilient future. This led to a review of our staffing and the appointment of a Museum Oevelopment
Manager who started in January 2025 and left at the end of July 2025 having completed his task of making recommendations
on a viable buslness model for the Trust.
c. Financial Revièw.
We had budgeted for a deficit of £21,(X)O and the outcome was a surplus of £8,826 befoTe depreciation. We had three grants
tot311in8 £37.000 which were for one year only. The donations of £10,838, included £5.IQK) from the Friend5 of Museum.
The unexpected surplus w35 due the reaction to our closing which also resulted in exceptional visitor numbers in December.
The office suite that we let, which produced £12,000 a year became vacant at the end of March and by the end of Decerrber
we had not found a new tenant and with the current availability of a surplus of office space in Kidderminster we were
advised that we were unlikely to dts so.
The 2 mernbers of staff that we funded untll May from the Arts Council did not have thelr contracts renewed. The member
of staff responslble for sehool visits and other customer facing events left and wa5 not replaced. Our long term future relie5
on regular funding through our activities ar)d thi5 was not realistic. A Consultantlmanager was appointed to produce a
report on our long term viability. Consequently, the decision was made to reduce staff costs to one member of staff plus
cleaner and to close the Museum to the publlc from the end of December 2025. not to renew the Contract for the Manager
or Cleaner and to run it. in the short term, with just trustees and volunteer5 whilst we discussed our future with the District,
Town and County Councils. The decision was made to relaunch the Museum with a wider remit as a Town Museum talks
are ongoing to achieve this.
d. Going Concern.
We consider that at present with our estimated income and expenditure in 2026 that we could not continue and the steps
outlined in the financial review are being taken to remedy this. The trustees have 3sses5ed the charity'5 ability to continue as
going concern and consider it appropriate to prepare the financial statements on this basis. However, rhere remains a
materi31 uncertainty in relation to the Success of the proposed relaunch and the charity's ability to generate Sufficient income
and public support in the future.
e. Resejves policy.
The Trustees have estsblished the Charity's Reserves Pollcy with reference to the Charity Commission guidance ICC 191 and
accounting standards IFRS 1021. The intentior is to have 3 rnonths Unrestricted Reserves and at 31, December we had Set
aside £17.500 out of the Unrestricted fund balance of £37.000.
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
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3. Structurei governance and management
. Q>nstitution.
The nature of the 8overning document is a Charitable Incorporated Organisation entered on 3 SeptembeT 2015.
The Deed regulates the election and appointment of the first and subsequent trustees.
In 2018 the Charity Comrni55ion had recommended 3 new governance code for 5rnaller charities. The trustees
embrace the aspirations of that code and have implementing its principle5 and praetices.
In 2019 the Constitution was amended to include additional powers to be able to achieve accreditation during 2020.
b. Method of appointmentor electlon ofTrustees
The management of the charity ￿ the responsibility Lf the Trustees are elected and co-opted under the terms of
the Charitable Incorporated Organlsadon.
C. Policies adopted for the induction and trainlngof Trustees
All the Trustee5 use the Charlty Commlssion guldellnes for trustees as a reference.
d. Risk management
The Trustees have assessed the major risks to which the charity is exposed. in particular those related to the
operation5 and finances of the charity, and are satisfied that systems and procedures are in plate to mitigate our exposure
to the rnajor risks.
4. Futurè dèvÈlopments.
To open again for two days a week using only tTUStees and volunteers and continue talks with partners, including
Worcestershire County Council, Wyre Forest District Council (who have agreed to provide some short term funding) and
Kidderrnin5ter Town Council to move towards a different operating model to become a Kid(krminster Museum, with
emph35is on all aspects of the towns history.
Expand our range of activities, with particular emphasis on the educations aspects with more school visit5.
Fundraising will be irnportant and with the appointment of a Museum Developrnent Mana8er we will be lookingfor means
of ensurbn8 a more stable future with the expansion of involvement in creating partnerships. We will be lookin8 at ways we
can involve ourselve5 in project5. but the emphasis will be on fundraising to meet potential deficiL
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
5. Statement of Trustees. ResFY)nsibilities.
The Trustees are responsible foT preparing theTrustees' Report and Financial statemenls in accordance with applicable law
and United Kingdom Accoullting Standard5 Iunited Kingdom Generally Accepted Accounting Practice).
The law in 3pplicable to Charities in England and Wales requires the Trustees to prepare lin3ncial Statements lor each
rinancial year which give a true and fair view of the State o13ffairs of the Charity and the incoming resource5 and application
of resources ol the Charity for that year.
In preparing these financial 5tatementS, the Trustees are required tts..
select suitable accounting policie5 and then apply them consistently
observe the methods and principles in the Charities SORP.
make jud8ments and estimates that are rÈ3s0nable and prudent
state whether applicable accounting Standards hève been followed, subject to any material departure5 di5c105ed 3nd
explained in the fin3ncial statements.. and
prepare the financial statements on the ongoing concern basi5 It is unle55 5t is in3ppropriate to presume that the
charity will continue in operation.
The Charity Trustees must comply with the requirement5 of the Charities Aci 2011 with regards to the keeping 01
accounting records, to the preparation and scrutiny ol ststements ol account. and to the preparation ol annual reports and
returns. The statements ol accounts and returns must be sent to the Charity Commission. regardless ol the income of the
CIO within 10 month5 of the financial year end. The tharity trustees must comply with their obligation to inform the
commission within 28 days of any particular5 of the CIO entered on thè Central ReBiStei of Charities.
The Trustees at their meeting on I" May 2026 approved these accounts
Signed
G Gllbert Ichairl
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
INDEPENDENT EXMINERS REPORT
I report to the charityTrustees on my examination of finanaal statements of Carpet Museum Trust for the year ended
31st December 2025.
Responslbllitles and Basis of Report
A5 the Trustees ct the charity are responsible for the preparation of the accounts li accordance with the
requlrements of the Charities Act 20111.the 2011 Act'l.
I report in respect of my examination of the charity's attounts c3rrSed out under sectlon 145 of the 2011 Act and
in carryine out my examination I have followed all the 4)pli(able Dirertions given by the th8rity Commisslon
under section 14515llbl of the 2011 Act.
Indep￿dent Examinerfs Statement-matterofconcem identified
Your attention is drawn to the fact that the charity has prepared the financial statements in accordanee with the
relevant ver￿On of the Statement of Recornmended Practice applicable to charities preparing their fin3ncial
statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021
in preference to the Reportin8 and Accountin8 by Charities Statement of Recommended Practice issued on I, April
2005 which 15 referred to in the extant ￿gUlationS but have now been withdrawn. l understand that this ha5 been
done in order for the financial statements to promde a true and fair vtew in accordance with UK Generally Accepted
Accounting Practice.
I have completed my examination. I have identified a matter of concern being that we draw attention to the trustees,
report which explains that the Charity has concerns over long term viability. A decision was maje not to renew
contracts of employment for the two members of staff, and the Charity is currently operating on a reduced using
trustees and volunteers. Additionally, discussions tontinue with the local council, and I￿an5 are developing to
relaunch the Museum wtrh a wider remit. These events Indlcate the existence of a material uncertainty which rnay
cast significant doubt on the charity's ability to continue as a going concern. Our report Is not modified in respect of
this mattèr.
I confirm that apart from the matter of concern set out above. no matters have come to my attention In connection
with the examination gimng me cause to believe that is in any material respect..
Accounting records were not kept in respect of the trust as required by section 130 of the Charities Act 2011
2 The financial Statements do not 3ccord with those recoTds, or
The financial statements do not compqy with the applicable requirements concerning the form and content of
rinancial statements set out in the Charity IAccounts and Reports) Regulations 2008 other than any requirernents
that the finanual statements give a true aThJ fair view, which is not a matter considered as part of the
independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention
Should be drawn in this report in order to enable a proper understandin8 of the financial 5tatement5 to be reached.
Colm McGrory FCA
Ormerod Rutter Limited, Chartered Accountants
The Oakley,
Kidderminster Road
Droitwich,
Worcestershire
WR9 9AY
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
STATEMENT OF FINANCIAL AFFAIRS
*￿*￿*￿￿********￿th********￿*￿**￿*****￿I*￿I***￿*￿*￿****￿****￿***￿**￿**********￿*￿**￿
Unrestricted
Funds
2025
Restrlcted
Funds
2025
Total
Funds
2025
Total
Funds
2024
Note5
Income from..
Donatlons and Legacies
Actimties for Generatin8 funds
10,838
10,838
10.219
28,104
28.104
31772
Income Sources from Charitable Activities
47,981
10,605
58.586
48,906
Total income
86.923
10.605
97,528
90,897
Expendlture on..
Fundralsln8
617
11,789
15681
11,221
10,167
Charitsble Artivltles
Museum
617
617
617
40.497
40,497
38,333
Communlty
Collectlon
13.044
65
13,109
13.659
8,,228
8,228
6.390
Building Conservation
Building a Resilient Future
Retail Shop
617
3,269
10,540
10,540
29,295
617
5,107
5,107
5,820
Total oirtgolng resource5
617
78,665
10,037
88,702
106.933
Net movement In fvnds bèforè
Adjustmènts
8,258
8,826
(16,036)
Depreciation Char8e
131,1251
131,1251
131,125J
IncornellExpÈnditurel for theyear
8.258
130.5571
122,2991
147,161)
Total funds brought forward
28,809
1,160,234
1,189,043
1,236,2L
Total funds carried forward
37.067
1.129.677
1.166.744
1.189.043
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
BALANCE SHEET AS AT 31ST DECECEMBER 2025
Notes
2025
2025
2.024
Flxed Assets
Tangible Fixed Asset5
1.129.677
1,160,798
Currènt Assets
Stocks
Sundry Debtor5
Debtors Prepaid
Cash at Bank and In Hand
li
12
3.112
8,480
13,5261
3.881
9,950
47.116
49,290
Creditors
Amounts klling due within one year
Net Current Assets
28.245
Net Assets
1166 744
1189 043
Funds
Unrestrlcted Funds
F￿e Reserves
Desi8nated- Loom Project
Designated- Safety Net
io
19,567
10,059
1,250
28.809
Restrlcted Funds
Capital
Revenue
Total Funds
1.129,677
1.160.798
15641
1 189 043
1129 677
1166 744
The Financial Statement5 were approved by the Trustees and signed on thsr behalf at the meeting held on I" May 2026.
G Gilbert
Chalr
The notes on pa@es 8 to 16 form part of these Financial Statements
Page 7

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
l. Accountin8 Policres
Legal status
The Carpet Museum Trust is a Charitable Inc¢xporated Organisation ICIOI, whose registered office
Is Stour V81e Mill, Green Street, Kidderminster, Worcestershire, DYIO IAZ.
al Accounts Convention.
The accounts have been prepared in accordance with the Charity's Constitution. and "Accounting and Reporting by
Charities." Statement of Recommended Practice applica￿e to charitie5 preparing their accounts in accordance with the
Financial Reporting Standard appliCa￿e in the UK and Republic of Ireland IFRS1021" (effective I" January 20191. The charity
15 a Public Benefit Entity as defined by FRSIO2.
The accounts are prepared in Sterling, which 15 the fijnctional currency of the Chèrity. Monetary amounts in these financial
staternents are rounded to the nearest £.
The accounts have ￿￿en prepared under the historical c95t convention.
C8Pltal grants are recognised as designated income when receivable and this departure from finandal reportlng standards Is
necessary In order to show a true and fair wew, in accordance 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
Directorsnru5tees.
When possible, expenditure is charged to the charitable actsvity to which it relate5. Costs that cannot be dealt with in this
way are apportioned as a pertentsge overhead. Apportloned costs are premlses and office costs.
Going Concem
At the time of preparing the accounts. the trknstees had a reasonable expectation that the charity has 3dequ3te resources to
contlnue in operational existence for the foreseeable futvre. Thus the trustees contlnue to adopt the going concern basis of
accounting in preparing the accounts.
Governance Cost5
Any costs that can be identified are charged direct. Staff time is allocated ateording to the percentage spent directly on
governance. together with a proportion of premises and office costs. In accordance with SORP IFRS 10218overnance costs
are now treated as overhead5 and allocated over the other services.
bl Incomlng resourtÈs
Grants receivable
Grants made to finance the activities ol the Museum are credited to the income and expenditure accwnt in
the period to whith they relate.
Other income
Sales of services are included in the incc¥ne and expenditure account in the period to which they relate. Other
incorne, including donations, gifts and covenants are included as they were ￿ceIved.
Deferred income
Grants received in advance of the period in which the funder requires the expenditure to be applled will be
reflected in deferred income within the balance sheet
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
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Resourcè5 expended
l expenditure is accounted for on an accruals basis. All expenditure directly related to the provtsion of advice
services is included within charitable expenditure. Other costs incurred have been allocated between fundraislng and
publicity and management and administration as appropriate. Where such costs relate to more than one functioral
cost category they have been split on an estimate of time or floor space basis, as appropriate.
dl Basic financial assets
Basic financial assets. whlch Include debtors and bank balances. are Initially measured at transaction pr)￿ includlng
cost5 and are subsequently carried at amortlsed cost uslng the effective interest merhod unless the arrangement
constituies a financing tran53Ction. where the transaction is measured at the present value of the future receipts
discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
el Impairrnent ot financial assets
Flnaneial assets, other than those held at fair ￿[￿e throu8h income and expenditure, are assessed for indicators of
impairment at each reporting date. Financial 355et5 are impaired where there is objective evidence that, as a result of
one or more events that occurred after the initial recognition of the fin3nual a55et. the estlrn8ted future cash flows
have been affected.
If an asset is imp3ired, the impairment1055 IS the difference between the carrying amount and the present value of
the estimated cash flow discounted at the asset's original effective interest rate. The impairment loss is reco8nised in
net income/ lexpenditurel for the year.
If there is a decrease in the irnpairment loss arising from an event occuthng after the impalrment was recognlsed. the
impairment Is reversed. The reversal is such that the current carryin8 amount does not exceed what the carrying
amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in net income lexpenditurel for the year.
Dorecognition of financial assets
Financial assets are derecognised only when the contractual right5 to the ¢ash flows from the asset expires or are
settled, or when the charity transfers the financial asset and substantially all the risks and reward of ownership to
another entity, or if some 518nificant risk and rewards of ownership are retained but control of the asset has
transferred to another party that is able to sell the asset in its entirety to an unrelated third party.
81 Basic flnanual liabilities
Basic finanaal liabilities, includin8 creditors and bank loans are inttially recognised at transaction price unles5 the
arrangement constitutes a financing transaction, where the debt instrumert is measured at the present value of the
future payments discounted at a market rate of interest. Financlal liabilities classified as payable within one year are
not amortised. Debt instrument5 are subsequently carried at amortised cost. using the effeetive ￿te method.
hl Dèreco8nition of financial liabilities
Financial Ilabillties are dere¢ognised when the charity's ¢ontra¢tual obligations expire or are discharged.
FIMed assets and depreciatlon
Fixed assets are included at cost less depreciation. Depreciation 15 charged on a straeht line basis
on the cost5 of the 3s5ets over their estimated useful lives as follows..
Lon@-tem leasehold property
over the life of the lease
Fixtures and fittir
IO% straight line
Office Equipment
33% Straight Line
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
********A*****•*******************************************************************
The depreciation policy has been reviewed in accordan￿ with FRS 102 atTrd no change has been Made
from the previous year.
The provlsion for deprectation of fimed assets is shown as part of notes to the Statement of Financial Activities.
Fixed assets are either financed from gr3llts or by using Reserves. When Reserves are used the cost is written as
charge to Revenue, but when financed from a grant then the income resource 15 shown in the Ststement of Financial
Activities and credited to a Designated Capital Reserve.
Restrided funds
Ineorne received for the restricted purposes is included in a separate restricted fund 3gain5t which appropriate
expenditure is allocated. Restrlcted 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 objeclive
of the fundlng is met and there is no obligation to refund any surplu5 then those fund5 are treated as unrestricted.
kl
Deslenated funds
Designated funds are allocated out of unrestricted funds by the trustees for specilic purposes. The use of such fund5
is at the tru51ees' discretion.
UnrestrKte(I funds
Unrestricted funds can be used In accordarnce with the charltable oblectsves at the dlscretion of the trustees.
Cash Flow
The charity has taken advantage of the provisions in the SORP for charities applying FRS102 Update aulletin I not to
prepare a Statement of Cash Flow.
Further explanation of the nature and purpose of each fund is included in the note5 to the finantial statements.
Taxatlon
The Carpet Museum Trust is registered with the Charity Commission and under the provisions of the Income and
Corporation Taxes Act 1988 and exempt from liability to taxation.
Czpital Grants
Capital grants are recognized as income in the designated fund when receivable and a departure from
Financial Reporting Standards 15 necessary in order to show a true and fail view in accordance with the Statement of
Recommended Pr3Ctice SORP IFR51021.
Pensions
All employees who qualify for a Workpla￿ Fension have been enrolled in the Nationèl Employers
Savrngs Trust INESTI pension scheme and the statlrtory deductions are made or other such
arrangement 35 agreed with employees.
ql
Stocks
Stock5 ￿ valued at ihe lower of cost and net realSsable value after making due allowance for
obsolete and slow-moving stock5. Cost includes all direct Costs and an appropriate proportion of fixed and
variable overhead5.
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CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
Role of Volunteers
The charity Fos in the region of 40 volunteers. The value of these is not incorporated within
these accounts.
Unrestricted
Restricted
Total
rotol
3. lrtcomè donations
Funds
2025
Funds
Fund5
2025
Funds
2025
2.024
Donatlons
Total
10,838
10.838
10,838
10,838
10219
9,790
4. Artlvltles for
Generatin8 funds
Unrestricted
Funds
2025
Restricted
Funds
2025
Total
Funds
2025
Totul
Funds
2,024
Room Hire
Rental Income
Shop Sales
Commission
Corporate Sponsotshlp
Fund RaisSng
Other Income
Total
14.717
6.745
5,838
106
14.717
6.745
5,838
106
10,856
11,916
3.523
147
4,283
500
547
119
579
119
579
28.104
28,104
31,772
5. Charltable Income
Unrestritted
Funds
2025
Restricted
Funds
Total
Fund5
Totol
Funds
2025
2025
2024
Admission5
Cornmunity Activltles
Arts Council Grant
Roger & Douglas Turner
Charitable Trust
AIA Grant
V05ey Society
The Grimmit Trust
LC Johnson
The Quayle Trust
Limoges Trust
Blakemore Foundation
William Cadbury Trust
Edgar L3wley Foundatio
Garfield Weston
other Income
8,005
2,976
8,005
2,976
10,540
7,894
2,474
29,295
10,540
2,407
375
1.2
500
65
65
20.000
2,000
15,0(X)
20,(KIO
2,000
15.CNJO
161
47.981
86.923
10.605
10.605
58,866
97,528
48,006
90.897
Total
Page 11

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
*********A*A***********a**********************************************************
6. Direct Costs
Item
Museum
Community
Collection
Collection
Retail
Fundraising
iiiiii
Arts
Fund
Total
2.024
UR Funds
UR Funds
UR Funds
R Funds
UR
Funds
UR Funds
R Fund5
Staff - Pay, Nl and
Pensions
Activitie5
Advertisin& Leaflets
Axial Software
Building
Conservation
Card Reader Charges
Consumables
Con5ultant5 Fees
Conservation
Craft Materials
Exhibition Costs
Marketing
Professional Semces
Refre5hrnents
Station3ry.Equip &
10.487
4.206
1.655
2,00)
1.481
10,540
30.369
50,321
125
125
396
1,725
1.716
1,716
3,269
254
254
204
25
375
76
193
1,566
116
1,758
452
49
65
114
245
69
176
318
322
19
19
59
5ubscripUons
Travel Costs
Tutors Fees
Volunteers Expenses
Overhead5
120
120
71
295
295
25,190
35.931
14,615
19,628
4,344
7,764
4,508
6.703
6,466
8,071
55,123
88,702
46,319
106,933
Total
65
10,540
Page 12

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
7. Support C08ts
Item
Museum
Community
Collectio
Retail
Fundraising
Total
2024
Staff - Pay, Nl and
Pensions
Bank Charges/Card
Charges
Building Mainlenance
Contracts
Building Repairs
Examiners Fee
Furniture & Equipment
Gas
Insurance
IT servi￿5, etc
Kidderminster BID
Payroll Processing
Professional Services
Sanitary & Cleaning
Security Key Holding &
Call Outs
Statiorsary & Postages
Subscriptions
Sundrie5
Telecorns
Redundanty Pay
Waste Dlsposal
Water
12,107
4,854
1,910
2.309
1,710
22,890
12,413
54
22
io
102
102
599
240
95
114
85
1,133
2.680
2.930
411
424
432
82
85
176
82
85
609
428
864
164
170
1,219
857
ioi
89
126
4,402
1,150
1.188
8,532
5,999
705
625
884
2.969
1120
411
424
3.047
2.143
252
223
316
3.048
2,143
252
223
609
428
12.000
6,718
649
1040
825
687
736
45
45
316
233
233
47
47
93
653
296
296
59
59
118
828
704
45
25
66
754
720
179
365
45
25
66
754
720
179
365
18
126
70
184
2,112
2,016
502
1,022
55,123
243
187
123
1,816
io
26
302
288
72
146
13
151
144
36
73
151
144
36
73
372
935
Total
25,190
14,615
4,344
4,508
6.466
46.319
Tanglble Flxed A%5etS
Leasehold
Property
Fixtures &
Fittings
Offiee
Equipment
Total
1st January 2025
Disp05als
31" December 202S
1,556,255
346.904
36,742
1.939.901
1.556,255
346.904
36,742
1,939,901
Depreciation
I" january 2025
Charged year
31" December 2025
395,453
31,125
426,578
346,904
36,742
779.099
31,125
810,224
346.904
36,742
Book Value
1st January 2025
1.160.798
1.160,798
31st December 2025
1,129,677
1,129,677
Page 13

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND Accou￿rS 2025
NOTES TO THE FINANCIAL STATEMENTS
*********A***A**A************A******A*********************a***********************
9. Net Income (gxpenditurel
Thls is stated after charging
2025
2024
Depreaation of tangible fixed assets
-owned by charitv
31,125
31.125
The Independent Examlnels fee is £1.15012024-£1,1201.
10. Net Movement of Funds
Net Movement
in Funds
Transfers
Between Funds
At 1.1.2025
At 31.12.2025
nreslri¢ted Funds
enerèl Fund5
28,809
28,808
8,258
8,258
37,067
37,066
otal
estrkted Funds
General Funds
Capitsl Funds
Total
15641
1,160,798
1,160,234
1,189,043
564
131.1251
130.5621
122.3041
1.129,677
1,129.677
1.166.743
Totsl Both
The Capital Fund is the amount spent on renovation and fitting out of the building and is written down each year.
11. Stock
2025
2024
Merchandise
12. Debtc
2025
2024
Trade Debtors
Other Debttsrs
Prepayment5 and Accrued Income
Total
934
3,196
7346 6754
8480 9950
13. Credito
2025 2024
Trade Credltors
Other Creditors
Accruals and Deferred Income
Total
3,401 8.199
3,122
233
3 524 12 613
10 047 21
Page 14

CARPET MUSEUM TRUST
TRUSTEES ANNUAL REPORT AND ACCOUNTS 2025
NOTES TO THE FINANCIAL STATEMENTS
****Aa*th*******￿*￿***￿**￿￿***￿***￿a￿*￿****￿***￿￿a￿*****￿￿****￿**********￿**I*￿
14. Deferred Income
2025
2024
I'january 2025
Resources Deferred during year
Amounts Released from prewous year
Deferred Income 31" December 2025
12,613
2,000
15.634
12,613
15.
Financizl Instrum•nts
2025
2024
Financial assets measured at amortised cost
Financial liabilities measured at amortised c05t
Financial assets measured at amortised cost comprising cash at bank and in hand, and trade debtor.
Flnancial liabillties measured at amortised cost comprising trade creditors. VAT, PAYE and other creditors and accruals.
16. Staff Costs
Staff costs were as follows
2025
2024
Wages and salaries and pension contributions.
No employee reoived remuneration amounting to more than £60,000 in either year. The key management personnel of the
harity consist of the Trustees and the Museum Manager. The total remuneration paid to the key management personnel
during the year was £26,32012024- £21,793). Avefage staff durine the year was 2. No Trustees received any remuneratlon
12024 £NILI. During the year. no Iru5tees received any benefits in kind12024- £NILI. During the yeaf, no trustees received
any reimbursement of expenses 12024- £NILI.
17. Operating lease commitments
At 31 December 2025 the total of the Charl￿$ future minimum lease payment5 under non-cancellable
Operating lèases was..
2025
2024
Amount payable
After more than 5 years
18. Relatèd party transactlons
There were no related party transartions during the year.
Page 15