Company registration number. 09808860 Charity registratn number.. 1165520 The Burton at Bideford (A company h"mrted by guarantee) Annual Report and Financial Ststemenls for the Year Ended 31 March 2025 WESTCOTTS A BUSI¥ESS ADVISER5 Ullllllllllll AEESYwfiM 2W1012025 COMPANIES HOUSE
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The Burton at Bideford Contents Reference and Adminislrative Details Trustees. Report 2107 Independent Examinerfs ReF<>rt Statément of Finanaal Activittes Balance Sheel 101011 Notes lo the Financial Statements 12to26
The Burton at Bideford Reference and Administrative Detsils Chairman Robert Mdlward Truslees Samuel Astill NholaS Beer lan Huggelt Sarnh Lawrence Benjamin Liddell Kati Russell Jeremy Sha8 IresMJned 5 June 2025) Robert Woolley Secretsry Joanna Jones Charity Reglstratlon Number 1165520 Company Reglstration Number 09808860 Registered Office Burtw Art Gallery And Museum lQngsky Road Bideford Devon EX39 2QQ Independent Examlner Weslcotts ISW) LLP Timber South Street Axminsler Devon EX13 SAD Pa9e 1
The Burton at Bideford Trustees, Report The trustees. who are d1CtOrS for the purposes of company law. present the annual report together with the finaneial statements of the charrtable company for the year ended 31 March 2025. Objectives and activities The objectNes of the eharty are to advanee education and the arts. in partieular by the estsblishment of a museum and art gallery which profnote5 public knowledge. enjoyment and appreciation of the ans, local herrta9e and leaming. This report u)vers the perK)d from 1st April 2024 to 31st March 2025, the ninth year of operation. During the penod there were nine Trustees. Regional and natsonal advertising and a fully inclusive process resutted In the recruitment of a new, pem)anent, Director, Harriet Cooper. who took over management of the charrty from inlerirn co-Directots. Harriet who has excellent seclof skills and experience including developmental work ryth e8rly-career artisls and strategic leadership of natKJnal partnership proiects, has settled into her role very well. The Board has continued to maintain, conserve and display the art and hentage assets of Torridge Dislrit Council ITDCI while building on its own mrySest collectft. Page 2
The Burton at Bideford Trustees, Report Objecrfves. strategies and acfivities This was the seventh year of The Burton's Tecognition as an Arts Council England National Portfolio Organisation {ACEINPOI with funding in place at £85.140 per annum until 2026 TDC was Ihe other main source of funds with the recept of £140.000. Capital fvnding of £120,000 from ACE for the installation of 501ar panel$ and unisex toikls has enabled us to make snifICant steps towards our vin aims of net zero and greater aecess and indusion. The SenKJi Management Team ISMTI secured funding from trusts and foundations including wakej Trust and The Gibbons Tnjst. as well as grants from Bideford RegeneratDn Board and the Rural England Prosperity Fund despite the stiff competition for acssIng such funds. An innowative campaun in support of our work with children. schools and families in North Devon was 'Burton Fu¢ures' whi¢h raised a lotsl of £11,169 including matched funding via The Big Give Arts for Impacts programme. The Burton deliVed a full and varied programme of temwrary exhibitions featuring k)cal. natnal and internats.onal artists. showing vA)rk of both a tradrtM)nal and contemporary nature. In May we launched our first BKleford Pholomonth. a celebration of photography and rural lrfe tsking place across the lowrkof Bhleford whh saw over 13.000 visitors. This rich progr8mme included work by inlernationalty renowned photographer Martin Parr. a solo show by Devon-based photographer Robert Darch and a new display of prints by James RaMlw)us from The Burton's own collection. Wort( by 8rilish photographer Anita cO1n was exhibited in shop wndows leading visitors lo an exhibition by South African artist Gideon Mendel in BidefcKd'$ historic Pannier Market. The Westward Hol and Bideford Art Soaety (WHOBIO} and the Annual Schools Exhibitions once again showcased the wort of kjcal artists and talented 5-18 year old students. The RJ Lloyd Memorial Exhibition was visited by over 21,000 people and Celebrated the work of this Bideford-based artist, containing many iiems from our permanent ts)Ilecik)n arKI severnl illustrations from his eollaboralion wrth the poet Ted Hughes. Throughout Ihe year we cekbrated the power of printmaking. induding an exhibrtion of new work by members of the Royal Society of Painter-Printrnakers and a sok) presentation of works by Yinka Shonibare CBE. one of the mosl esleen*d international artists working loday. Linked to these were talks, workshops and demonslralions bringing together the best of prinlmaking in the South Wesl. Strategic woth with in CeMi¢S began with a stunnrngty original exhibilion in the main gallery spa¢e called 'Pop Art and Potterf, cwuraled wilh Nick Duxbury and presenting a kaleidoscope ol cerami¢s from around the world. The next show was drawn from our pemanent collection, featuring five key makers from the Christine Halstead bequest. Ceramic Artist in Residence. Florence eT. created work in response lo our RJ Lloyd" colltIOn of North Devon slipware. exploring ideas surrounding commemoration. Finalty. at auction and with 5UPPOrt from The Friend5 of The Burton. we acquired 6 key pieces from The Fishley Co118Ction whbch deepen our holdings of North Devon Slipware and Yelland sludtoware. Through our outreach progrnmme The 8urton continued to work 7Mth both Brave Spaces (Led by Encompass and North Dev Again51 Dornest Abuse) and Devon Recovery Learning Centre to provide a monthly Art Club and mental heatth drop-ins respectively. Our in-house programmes The Gieal Burton Sewing Bee and Printworks delivered 108 sessions wilh over 750 participations. The Burton Youth Colieclive 1$ now a core activty bringing the voices of up to 12 young people into the heart of the organisalion, and support from The Gibbons Trust facililaled a visrt to the studio of artist Emma Stibbon RA at Spike Island in Bristol_ 36 creatrve workshops for adulis throughout the year helped Part1pants lo leam new art skims. Page 3
The Burton at Bideford Trustees. Report The Burton Teacher Netsvork continues lo hold meetings every temi to support nerkIng for teachers in I¢xo1 schools. Event acti15 include meeting local arti%ls lo encourage teachers to employ artists direcily, as well as peer leaming and CPD. Crafty Kids provides art fun for pre-school chiklren during temi lime and for all chIldn up to age 11 during the holida, nn¢ctIng with over 1,700 people thi5 year. Our Art for Home Ed programme has been very popular th many of the 8-16 years old chIldn working towards Iheir Arts Awards. The Burton converted The Burton Art Box into a camera obseura, bringing a magul experEnce combining art and science to over 1,300 participants in rural comrnunities across Northern Devon. A collaboration befvleen The Burton and The Ackland and Edvrards Trust has facilitated public access lo the archive of these prolific artists. wels, authors and tter vrrilers. We continue lo host a PhD student based al the Univetsrty of the West of England lo study the poety and painting of Mary Slella-Edwards and they work weekty wrth our 9ioup of arthNe volunteers to dlgiiise letters and documents. InCaS1ng put1¢ access to this collection. The Craft Gallery features the very best of local and national Contemporary craft, from ceramies and prints to jewellery, lexliles and woodenWa. 0¢siOnal "Meet the Makerf sessions have been vèry well received ènd help us connect MO strongly %wth makers in the South Wesl. Our shop is bursting with exclusive items you won't find on the high street including bwks, ort supplies, stationery. children's loys, homewares and greetings card5. often rIe¢lIng our changing programme of exhibitions. Friendly and hvJhly skJ"Iled staff have ensured that Irdding income remains strong. Occasional surveys of our 163,000+ w$rtors during the year have confirffe¢J the continuing wpuL4rily of our museum and gallery with both the local communty and visitors from far and wde. This year 54% of our wsitors were b¢al lo the surrounding 10 miles and travelled over 100 miles to visit The Burton. The Board remains grateful to our principal funder. Torridge District Counul and we are mindful of our obligations to it. The Trustees have ensured that the requirements as set out in the five year 'SeNice & Funding Agreemeftl, with TDC have been fvlty meL The Iwo organisation5 continue lo meet regularly on a formal and infomlal basis. Publi¢ benefit The Iruslees confirm that they have complied with the requirements of seCtn 4 and section 17 of the Chari(ie5 Ael 2011 to have due regard to the public benefrt guKJance published by the Charity Commission for Engknd and Wales. The Gallery and Museum have a free enty poly. From January 2025 The Burton has b8on cbsed on Mondays but wrth an extra hour ¢)pen from Tuesday to Saturday. Page 4.
The Burton at Bldeford Trustees. Report Flnanclal revlew 2025 represents the ninth fvll ar of operntion for The Burton at Bideford as an independent charity. The Boaid continues to appreciate the geneffjus support of The Friend5 of The Burton and the Chairs of eo¢h chanty continue to meet both infom)ally and in committee to discuss the sustainability ol funding, potential sponsorship. fund raising actiwties and legacies. This has been a difful1 year financk41ty hth rL¥ing costs and additional outside funding lor projects and core aetivslies prowng lo be elusive This has resumed in us incurring a deficit on our spendable unrestricted funds of £18,292. the first lime we have been in such a positson for a number ol years. Fortunately we We able lo fund this frorn reser¥e5 buitt up in the earlier yeats. This deficit 1$ masked in our overall figures by $trIcted grant income whth includes £115.893 of capital grants SpecifillY provlded lo enable us lo enhance our customer toilet facilit*s to make them more accessible and make the buikling more envir0nrnentsl sustsinable by the installation of PV solar panels and the irnprovement ol many of the older drafty windows in our building. Charity accounting rules mean Ihal we need lo show these grants wrthin our income even though they We obtsined for an only be expen¢Jed on capital projeds forwhich they were provKled. We have continued to maintain a firm control of our cost base and increases in expendf(ure. other than for energy, have been in line wrth budgets. Conlffjl of costs is 8 key lo us building our unrestricted funds reserve lo a level whth wdl pro ongoing stsbilrty. Policy ¢)n reseThes The Trustee's ReseNes Polw is lo accrue reseryes of al least six months expenditure to help us meet contingencies and devek>p addrtional services to the commun5ty. Our unreStrted fund balance, after albwing for our heritsge assets. currentty stands at £218.277. This is close to our six month of expenditure target. The reserves will also be used to repkce assets as they become wom out or become obsolete as technology changes. The Charit5 activi(ies expose it to 8 number of finoncbal risks induding credrt risk and cash fl¢)w risk. The principal financial assets a bank balances and cash. trade and other re1vableS. Credrt iisk is primarily attributable lo its trade receivables. There is no signitunl concentration of credit risk. wrth exposure spread over a number of counterparttes and customers. The risks affecting Ihe charity are kept under constant review by the Trustees and we have fomiulaled a revi matrix to assist with evaluation and miligation of risk. Page 5
The Burton at Bideford Trustees. Report Structurep governance and management The Burton at Bideford is a Company limited by guarantee and vrds incorwraled on 4th October 2015. 11 look over responsibility for running the Burton Art GaIry and Museum from, and under an agreement with, TDC on 1 April 2016. The charity is govemed by a Board of Trustees {the Board) of not Sess than four indrvhyuals who give their lime volunlarify and receNe no muneratIon. The Trustees have a broad and balanced skill Sel and all of them have individual responsibilities. mostly undertaken through SucomMitteeS (Eduealion Learning and Pèrbcipalion. Finance. Audit and Compliance and Buildings and Environment) alongside overall governance of the charty in order to achieve its obj'ectives. The Board held bi-monthly full Board meetings during the period 1 April 2024 to 31 March 2025 supplemented by regular sub-commiifee and Burton Enterprises (our trading ami) meetings. The Charity hekl an Annual General Meeting mid period which included invitations for other parties lo attend. Recruitment and appointment of trustees Trustees are recruited on an open athrt basis. gmng anyone Ihe opwrtunity to apply lo beeome a Trustee and recewe a Trustee recruilmenl pack of inf0Mtion. Job profiles have been developed for Tiuslee, Chair, Vice Chair and Treasurer. The Board has a skills malrix which it reviews every other year. This i¢Jenlifies the mix of skills, governance experience and attribute5 that it aims lo hamess from amongst it5 existing Trustees and n$KlerS any areas that are lacking when seeking new Tfuslees. Induction and training ol trustees The charity has developed a fonnal inductkjn prograrnme for nthv Twslees to give them a 9rounding on core governance matters such as seNKe and funding agreenIs. terns of lease. and current strategy. Thi5 IS Supported by meetings wth an estsblished Trustee. Company Secretary. the Chair and Ihe Director. Those new lo Trusteeship a offered exiernal training and development including in safeguarding (via NSPCCI and in courses offered by Nalional Council for Voluntary Organisations INCVOI. The Board has a number of sub-committees whKh report lo the Board on matters covered by their Temis ol Reference. Statement of trustees. responsibilitiès The Iru5tees {who are also the (l1clOr$ of The Burton at 8hdeford for the purposes of company lawl are responsible for preparing the Irustee$' report and the financial statements in accordance wlh applicable law and United Kingdom Accountsng Standards (Unrted Kingdom Generalty Accepted AoUntIng Practice}. induding FRS 102 Yhe Financial Reporting Standard applicable in the UK and Republ of Ireland". The report and accounts have been prepared in accordance with the pwsion5 in the Companies Act 2006 relatin9 to small companies. Company law requi$ the trustees to prepare financial statements for each financial year. Under company law the lrnslees must not appro¥e the financial ststements unless they are satisfied thal they give a true and fair of the slate of affairs of the charitabk company and of the incomin9 resources and applutn of resOUe$. including ils Inco and expenditure. of thè charitable company for that period. In preparing these financol statenwnts. the trustees are required lo.. Page 8
The Burton at Bideford Trustees. Report select suttable accounting poli and appty them consislentjy. observe the methods and principles in the charit SORP.. make judgements and estimates that are reasonable and prtt". slate whether applicabk accounting standards, comprising FRS 102 have been followed. subject lo any material departures disclosed and explained in the financial slalements.. and prepare the financial statements on the going concem basis unbess it 15 inappropriate lo presume that the charitable company wll continue in business. The trustees are responwble for keeping proper accounting records that can disclose with reasonable accuracy al any lime the financaal posttion of the charilable company and enab them to ensure Ihat the financial stslements comply wtth the Companies Acl 2006. They are also responsible for safeguarding the assets of the charitable company and heno for taking reasonab steps for the pVentiOn and detection of fraud and othef irregularities. The Injstees are responsible for the maintenance and integrity of the corporate and financial information Included on the charttable companls web5rte. Legislation goveming the preparatn and disseminab.on of financial statements may differ from legislathjn in other juri5diclions. Small companies provlslon statement This report has been prepared in accordance wth the small companies regime under the Companbes Act 21)06. The annual report wa$ approved by the trustees of the charty on .... .... behaff by.. and signed on ils ugge rus Robert Millward Ch8iman Page 7
The Burton at Bideford Independent ExamineVs Report to the trustees of The Burton at Bideford ('the Company.) I report lo the charity tru$lee$ on my examination of the accounts of the CoTryany for the year ended 31 March 2025 Responsibilities and basls of report As the charty's trustees of the Company land also its directors for the pUoSeS of company law) you are responsible for the preparation of the accounts ui accordance with the requirements of the Companps Ad 20061.lhe 2006 Act,). Having satisfied myself that the accounts of the Company are not wuired lo be audited under Part 16 of the 2006 Act and are eligible for independent examination. I report in respect of my examination of your charty's accounts as carried out under settn 145 of the Charities Act 2011 I'the 2011 Acl'l. In carrying out my examination I have folkMd the DirectKJns gr4en by the Charity Corrwnission under section 14515llbl of the 2011 Act. Independent examlnerfs statement Since the Compangs gross income exeeeded £250.000 examiner musl be a member of a boty listed in secl#)n 145 of the 2011 Act. I confirm that l am qualified to undertake the examinalK)n because l am a member of The Instittrte of Chartered Accountants in Engknd and Wales IICAEWI. whieh is one ol the listed bods. I have completed my examinatv)n. I confimi that no malters ha¥e come lo my attent in connection with the examination giving Me cause to belie¥e- 1. accounting records were not kept in le$et of The Burton al BKleford as required by seciion 386 ol the 2006 Act: or 2. the 8ccounts do not a¢¢ord with those records.. or. 3. the accounts do not compty with the accounting requirements of seCtn 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair wev/ which is not a matter considered as part of an independent examinion- or 4. the accounts have not been prepared in accordan th the methods and pftnciples of the Slalemenl of Recomrnended Practice for accounting and reporting by charities lapplicable to charities prepanng their accounts in aceordance with the Financial Rep)rting Standard appIable in the UK and Republ of Ireland IFRS 102)]. I have no concerns and have rne across no other matters in conThedn with the examination to whKh attention should be drawn in this report in order to enable a proper understanding of the aeeounts to be reached. arrington IFCAI or and on behalf of Westcotts (SW) LLP Timberly South Street Axminsler Devon EX13 SAD Oale.. Page 8
The Burton at Bideford ststement of Financial Activities for the Year Ended 31 March 2025 (Including Income and Expenditure Account and Statement of Total Recognised Gains and Losses) Unrestricted funds Restricted funds Total 2025 Total 2024 Note Income and Endowments from: Donatsons and legacies Charitsble actNities Other trading aclivibes Investment income Oiher income 1.302 170.430 74,446 3,580 85,636 138.391 244,693 170,430 74.446 3.580 85.636 121,044 163.084 77.243 3,271 70,857 Total income 440.394 138.391 578,785 435,499 Expenditurg on: Charitable aclivrties 461,240 5.818 467,058 419.140 Total expenditure Nel lexpenditureifineome Transfers betren funds 461.240 5.818) 467.0581 1419,140 {20.846) 132.573 2.554 111,727 16,359 Nel movement in funds {18.292) 130.019 111.727 16,359 Reconclllation of funds Total funds brought forward 283,135 5.000 288.135 271,776 Total funds carried forward 20 264.843 135.019 399,862 288,135 All of the charity's actIvrt derive fmm continuing operats.ons during the above periods. The funds breakdown for 2024 is shry*n in note 20. The notes on pages 12 to 26 form an integral part of these ffinancial statements. Page 9
The Burton at Bideford (Registration number: 09808860 Balance Sheet as at 31 March 2025 2025 2024 Fixed assets Tangible assets Heritage assets Investrnenls 14 15 16 141,807 46,566 1,225 15.24S 43.562 1.22S 60,032 189.598 Current a$sets Debtors Cash al bank and in hand 17 89,018 195,638 284.656 64.468 221,161 285.629 Creditors: Amounts falling due Tmlthin one year Net current assets 18 (74.392 57,526 210,264 228,103 Net assets 399.862 288,135 Funds of the charlty". Restricted income funds Restricted lund5 135,019 5.000 Unrestricted income fvnds Unreslficted ftjnds 264.843 283.135 Total funds 20 399.862 288.135 For the financial year ending 31 March 2025 the charity vras entitied to exempts'on from audit under section 477 of the Companies Act 20C6 rekiting lo small companies. Direetots. responsibTlities'. The Members have not wuired the charity lo obtain an aud.rt of its accounts for the year in question in accordance wlh seclM)n 476: and The diredors acknowledge their ponsIbIliti.e$ for CoMp.ng with the requirements of the Act wlh resped to accounting records and the preparation of accounts. These financial slalemenls have been prepared in accordance with the special provisions relating to mpanie5 subjecl to the small companie5 regime within Part 15 of the Companies Act 2006. The notes on pages 12 to 26 fom an integral part of these finanal stalemenls. Page 10
The Burton at Bideford (Registration number: 09808860) Balance Sheet as at 31 March 2025 ci I statements on pages 9 to 26 were approved by the tmstees, and authorised for issue on and sned on their behalf by_ Huggett lee Tr Robert Milhyard ChaiMn The IleS on pages 12 to 26 forn an integral part of these financial statements. Page 1.1
The Burton at Bideford Notes to the Flnanclal Statements for the Year Ended 31 March 2025 1 Charity ststus The charity is limited by guarantee, incorKx)raled in England and Waks, and consequentty does not have share capital. Each of the Irustees is lble to conlribute an amount not eKeeding £10 towards the assets of the charty in the event of liquidation. The address of ils registered office is.. Burton Art GalleryAnd Museum Kingsley Road BKleford Devorn EX39 2QQ 2 Accounting policies Summary of significant accountlng policles and key accounting estimales The principal accounting policies aPpld in the preparation of these financial slalements are set out below. These polieS have been consistently applied to all the Yea presented, unless otherwise slated. Statement of compliance The financial stalements have been prepared in accordance with Accounting and Reporting by Charf(ie$'. Statement of Recommended PrdCtKe (applble lo charities pparing their accounts in accoidance with the Financial Reporting Standard applic8ble in the UK and Republic of Ireland IFRS 1021) (issued in October 20191- (Charities SORP {FRS 10211. the Financial Reporting Standard applTCAble in the UK and Republic of Ireland {FRS 102) and the Companies Act 2006. Basis of preparation The Burton at BKleford meets the definition of a public benefit entty under FRS 102. Assets and liabilities a initKally OgnIsed at historical c05t or transaction value unless otherwise slated in the relevanl accounting wlicy notes. Going concem The trustees consKler that the are no material uncertaint5 about the ¢hariWs abilrty to continue as a going concern nor any signfficant areas ol uncertainty Ihal affect the carrying value of assels held by Ihe charty. Exemption from preparing a cash flow statement The charity opted lo eady adopt Bulletin 1 published on 2 Febtuary 2016 and have therefore not included a cash fhjw slalemenl in these ffinanual slalements. Income and gndowments All income is recognised once the chanty has entitlement lo the income. rt is probab that the income will be received and the amount of the income receNable can be measured Telk?bPy. Page 12
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 Donatlons and legacies Oonalions are recognised t•then the charity has been notified in wnting of both the amunl and settlement dale. In the event that a dOnatn is subject to condrth)ns that require a level of performance by the charity before the chanty 15 entitled to the funds. the income is deferred and not cognised until either those conditions are lulty mel. or the fuifilment of those conditions is wholly wi(hin the control of ihe charity and it is probable that these conditions will be fulfilled in the reporting period. Grants rtteivable Grants are recognised when the thanty has an entrtlement lo the funds and any conditions linked to the grants have been mel. whe Performan condrtions are attached to the grant and are yel lo be mel, the income is recogntsed as a Irabilty and induded on the balance sheet as deferred income to be released. Expwnditure Ail expendilure rs recognised once there is a kgal or constructNe obligalion to that expenditure, rt is probable seitlemenl is required and the amount can be measured relobly. All costs are allocated lo the applieable expenditure heading that a99ate simiL4r costs to that category_ Where costs cannot be directly allributet1 to partVIar headings they have been all¢xaled on a basis consistent with the Use of resources, with central staff costs allocated on the basis of time spent. and depreciation harges allocated on the port of the asset's use. Other support costs ale alkKaled based on the spread of staff cost5. Charitable activities Charitable expenditure ¢omprises those costs incurred by the charty in the delivery of ils activitie5 and services for ils benefiryaries. It includes both costs that can be allc¢aled directly to such activities and those costs of an indirect nalure necessary to support them. Support costs Support costs include ntral funth.ons and have treen alk)caled lo actsvity cost categories on a basis consistent with the use of resources. for exampb. althaling property costs by floor aieas, or per capita. staff costs by the tsme spent and other costs ty their usage. Taxation The charity is considered lo pass the tests sel out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore il rneels the definttion of a charitable company for UK corporation tax purposes. Accordingly, the charity is polentk3lly exempl from taxatn in respect of Income or capital gains received within categorvè5 eovered by Chapter 3 Part 11 of the Corporation Tax Aci 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992. to the extent that such income or gains are applied exclusNely to charrtable purposes. Tanglble fixed assets IrKlividual red as5els Costing £0.00 or more are initi'alky recorded at cost. less any subsequenl accumulated depreciatn and subsequent accumulated impairment losses. Page 13
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 Heritage assets Heritage assets me8sured under the cost m(MJel are recognised Initial recorded al acquisitton cost and subsequently staled at eost less any aC£uffl8ted depreciation and ImpalmnI losses. Heritage assets measured under the revaluion m¢)Jel are recorded at fair vae less any accumulated Impaimenl losses. Where information on the eosl or value of an asset is not awailable and cannot be obtained at a cost which is commensurate th the beneffts lo usets of the financial stalemenls. the asset shall not be recognised in the slalement of finanual p05rtton. Depreciation and amortlsatlon Depreciation is provided on tangible fixed assets so as to write off the co$1 or valuation. le any eslimaled residual value. over their expeded useful economic life as folkn. Assèt class Land and buildings Fixiures and ffftings Depreciation method and rate 5% to 100% 51raighl line 33% straight line Flxed asset investments Fixed asset investments, other than programme rekqled investments. a inded al market value al the balance sheet dale_ Realised gains and losses on investrnen15 are calcuted as the difference befv4een sales proceeds and their market valLte al the start of the year, or theiT subsequent cost, and are charged or credited lo the Slalemenl of Financial Activitses in the pericvJ of disposal. Unrealised gains and losses represent the movement in market Wdlues during the year and are credited or charged lo the Slatnent of Finanoal AclivI based on the market Yalue al the ar end. Cash and cash equivalents Cash and cash equivalents comprise cash on hand and deposris. and other short-lerm highly liquid Investments that are readity convertible to a known amount ol cash and are subject to an insignifieanl risk of change in walue. Fund structure Unrestricted income funds are general funds that are available for use at the trustees d¢screlion in furtherance of the objectNes of the charity. Designaled fvnds a unrestricted funds set aside for specific purr*)ses at the discretion of the Iruslees. Restricted income funds are those donated for use in a particular aa or for specifK purposes. the "use of which is reslrKted lo that area or purpose. Page 14
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 P•nsions and other post rntirement obllgatsons The charity operates a defined contribution penSn scheme which is a pension plan under which fixed contributKJns are paid into a pension fund and the chanty has no legal or constructive obligation to pay further eontn'bulions even rf the fund does not hokd sufficient assets lo pay all employees tlfe benefits relating lo empbyee ser¥ice in the Tren1 and pwr periods. Contributions lo defined contribution plans are recognised in the Stalemenl of Financial Activilies when they are due. If contribution payments exceed the contribulK)n due for seL¢e. the excess is recognised as a prepayment Financlal in$trurnents Classification Financial assets and financial h'ablities a fecognised when Ihe chanty becomes a party lo the contractual provisions of the inslrumenl. Financial IBbilrties and equity instruments are tlassffEd aecording to the substsnce of the contractual arrangements entered into. An equty instrument is any n1rdCt that emdences a residual Interest in the assels of the chanty after deducting all of rts lthilities. ROgnItion and measurement All finaneial assets and Ik4bilities are initialw measured at transaction price (including transaction costs), except for those financial asset$ classified as at fair value through profrt or loss. which are inrtially measured at fair value (which is normally the IransactK•n price excluding transaction cost unkss the arrangement conslf(utes a financing transaction. If an arrnngemenl conslilvles a financing transaction, the financial asset or financial liabilty Is measured at the present value of the future paymenls dsscounted at a market rale of interest lor a swnilar debt instrument. Financial assets and liabilits.es are only offset in the slalement of financial position when, and only when there exists a kgalty enforceable right lo set off the Cognised amounts and the charity intends either lo settle on a nel basis. or lo realise the asset and settle the lsabilty simuttaneously. Financial assets are defeeogni5ed when and onty when a) the contractual rights lo the cash flows from the financial asset expire or a settled, bl the tharty transfers lo another party substantially all of the risks and rewards of ownership of the finanryal asset. or c) the charity. desprte having retained some, but not all, significant risks and rwards of ownership. has transferred control ol the asset lo another party. Financi81 IHbililies are derecg)gnised onty vthen the obltqation specified in the contracl is discharged. cancelled or expires. Pe 15
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 Investments Investments in non-convertible preference shares and non-puttable ordinary or prefence share5 (where shares are publlY Iradet1 or their fair value is reliably measurable) are measured at fair value through profit or loss. whe tsir value cannot be measured reliabty. investments are rneasud at cost less impaiment. Investments in subsidiaries and associales are measured at cost less impaimenl. For investments in subsidiaries acquire(J for conSideratn induding the issue of share5 qualifying for merger relief. cost is measured by reference lo the nominal Value of the shares rssued plus fair value of other considerats"on. Any premium i% nOred. 3 Income from donations and legacles Unrestricted funds General Restricted funds Total 2025 Total 2024 Donations and legacies.. Donations from companies. trusts and milar proceeds OonalK)ns from indiwduals Grants. including capital grants.. Gran15 from other charities Regular giving and capital ¢Jonation$ 15,000 7.423 17.668 38,825 56.493 86.634 99.566 186,200 96.288 2.000 2,000 244,693 2.333 106,302 138,391 121,044 4 Income from charitable activlties Unrnstricted funds General Totsl 2025 Total 2024 Running of the gallery and museum Tax relief 143.926 26.504 143.926 26,504 140,430 22,654 170.430 170.430 163,084 Page 16
The Burton at Bidoford Notes to the Financial Statements for the Year Ended 31 March 2025 . 5 Income from other trading actlvltles Unrestricted funds General Total 2025 Totsl 2024 Trading income.. Workshops and room hwe Events income". Fundraising Cafe rental and serv$ 42.308 42.308 31,275 4.345 27.793 4.345 27,793 74,446 20.000 25,968 77.243 74.446 6 Investmont income Unrestricted fund5 Ggneral Total 2025 Total 2024 Other investrnenl income 3.580 3.580 3,271 7 Othei income Unrestricted funds General Total 2Q25 Total 2024 Income from trading subsidiary Profil donated to parent tharty by Gift AKI 37.224 48,412 85,636 37.224 48.412 85.636 32,847 38.010 70,857 8 Expendilure on charitable activities Unrestricted fund$ General Restricted funds Total 2025 Total 2024 Note Running of the gallery and museum Staff costs Allocated support costs 107.989 271,824 2.981 110.970 271,824 127,029 225,224 81.427 2,837 84,264 66,887 461,240 5.818 467,058 419.140 Page 17
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 9 Analysis of support costs Support costs allocated to charltable activ6tles Other support Total 2025 Total 2024 Slaff costs Premises Premises Communications and IT General office Govemances costs 3.897 2.837 25.512 8.807 34,903 8,308 84.264 3.897 2,837 25.512 8.807 34.903 8.308 84.264 2,6 19,991 7,153 32,395 4,742 66,887 10 Net incomlngloutgoing resources Net incoming resources for the yEar include". 2025 2024 Depreciation of fvAed assets 11,459 7.720 11 Trustees remuneration and expenses No Iruslees. nor any persons connected with them, have received any reMuneratn from the charty during the year. Travel expenses lolalling £012024 - £0) were reimbursed to Iruslees during the year. No twslees have received any other beneffts from the thanty during the ar. Page 18
The Burton at Bideford Notes to the Financial Ststements for the Year Ended 31 March 2025 12 Staff costs The aggregate payroll eost5 were as follows.. 2025 2024 Stoff Costs during the year wern: Wages and salaries Sooal security costs Pension costs Other staff costs 235.609 12.808 20.202 3,205 195.878 7,362 18,435 3.549 271,824 225,224 The monlhty average number of person5 (including senior management I leadership teaml employed by the chanty durin9 the year vras as folkThv5". 2025 No 12 2024 No Number of staff The average number of full-time equivalent empbyees during the year was 8 (2024 - 71. No employee recebved emoluments of more than £60.000 during the year. Page19
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 13 Taxation The charity is a registered ¢hanty and 1$ therefore exempt fmm taxation. 14 Tangible fixed assets Furnire and equipment Land and buildings Total Cost At 1 April 2024 Addl1)nS 6,685 126,916 73.377 11.105 8O,C62 138,021 Al 31 Mareh 2025 133.601 84.482 218.083 Depreciation Al 1 April 2024 Charge for the year At 31 Marth 2025 2.682 3,424 62.135 8.035 64,817 11.459 6,106 70.170 76.276 Net book value At 31 March 2025 127,495 14,312 141,807 At 31 March 2024 4.Tr)3 11,242 15.245 Page 20
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 15 Heritage assets Total Cost At l April 2024 Additions 43.$62 3,004 43,562 At 31 March 2025 46.566 46,566 Depreciation At 31 March 2025 Not book value At 31 March 2025 46.566 46,566 In compliance with the Charity SORP {FRS102), newly purchased or restored heritage assets are in11al Capitaled and induded at cost induding any incidenlal expenses of acquisrtion and are svbsequenlty reviewed annualty for impairment. Sumrnary of transactions 2025 2024 2023 2022 Purchases and additions RavilDus Photo Collection Paul Lewin Artwo Connor Coulston Ceramics Michelle ShElds Cerami William Fishley Hollantj & Micheal Leach Ceramics Jason Wason lidded jar 39.100 1.200 702 510 2.554 450 Total additions 3,004 1.212 1.200 39.100 16 Fixed asset inveslments 2025 2024 Shares in group undertaking¥ and participating nterests Other investments 100 1,125 1,225 100 1.125 1,225 Page 21
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 Shares In group undertakings and p•rticipating Interests Subsidiary undertakings Totsl Cost At 1 April 2024 100 100 At 31 March 2025 100 100 Net book valu• At 31 March 2025 100 100 At 31 March 2024 100 100 Other investments Unlisted investments Total C05t or Valuation At 1 April 2024 1.125 1.125 At 31 March 2025 1.125 1,125 Net l>ook valu• At 31 March 2025 1.125 1.125 At 31 March 2024 1.125 1.125 Detail$ of undertakings Delails of the investments in which the chanty holds 20% or more of the nominal value of any class of share caprtal are as follows.. Country of incorporation Proportion of voting rights and shares held 2025 2024 Princlpal activity Undertaking Holding Retail sales in cc¥nmercial art galleries The Burton Enterprises Limited England and Wales Ordinary shares 101YIo Page 22
The Burton at Bideford Notes to the Financlal Statements for the Year Ended 31 March 2025 17 Debtofs 2025 2024 Trade debtors Due from group undertakings Prepayments Other debtors 5,420 29,431 5,478 48,689 7.620 26,80S 5,807 24,236 89,018 64,468 18 Creditorts- amounts falllng due within one year 2025 2024 Trade CTedrtors Olher taxation and soual secunty Other cdItOrS Accruals 54,124 17,852 4,591 28.812 6,271 8.341 11,927 74,392 57.526 19 Pension and other schemes Defined ¢ontrlbution pension scheme The charity operates a defined contribUn pension scheme. The PenSn e41St charge for the year represents contributions payable by the charity lo the scheme and amounted lo £20.202 (2024 £18.43SI. Page 23
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 20 Funds Balance at 1 April 2024 Balance at 31 March 2025 Incomlng Resources ources •xp•nded Transfe Unrestricted funds General General Funds 239.573 440.394 (461,240) (4501 218.277 D8signated Designated Funds Toial unrestricted funds 43.562 3,004 46.566 283,135 461.240 2.554 264,843 Restricted funds Bridge Trust ACE Capital Grant Big Give TDC Vacant Unil Project Friend ol The Burton 5.000 (2,9811 12.837} 2.019 113,056 11,169 3.673 5.102 115.893 11.169 3.673 7.656 ,554 5.000 5.818 2.554 135.019 Totsl funds 288.135 578.785 467.058 399.862 Balance at 31 March 2024 Balance at 1 Aprll 2023 Incoming resources Resources expended Unrestricted funds General General Funds 223.214 435.499 {419.1401 239,573 Designated Designated Funds 43.562 43,562 Total unreslrlcted funds 266.776 435.499 {419.140> 283.135 Restrfcted funds Brklge Trust 5,000 5.000 Total funds 271,776 435.499 419.140 288,135 Page 24
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 The speufic purposes for whith the funds are lo be applEd are as follows.. Ace Capital Grant funding of £120.0(Y) being seCUd in Ihe year, with Ihe addition of £20.000 from Torridge District Council and £9.000 of reserves will enable us lo spend a tol81 of £149,000. This funding is lo be used for the inslalktion of solar panels. refurbishment and installation of unisex loilels and wndow replacements along %wth other natural and social environmental improvernent5 will enable us to make a significant step tovrards our aims of Nel Zero and greater access and inclusion. 'g Give £11,169 - an innovative campaign wrth the BMJ Give raised £11,169 (induding 500A match funded and Gift Aid) lo support our Burton Futu$ campaign to enable free access lo art for all children in North Den. TDC Vacant Unit Project £3.673 - A prnject wih TOre Dislrict Council to install image wraps on vacant units in Bideford hwh street. Friends of The Burton £7.656 - £2.$54 to fund the purchase of 6 key pieces from The Fishley Collection and £S.000 to fund an upgrnd6 to the Burton Websjte. Page 25
The Burton at Bideford Notes to the Financial Statements for the Year Ended 31 March 2025 21 Analysis of net assets between funds Unrestricted funds General Totsl funds at 31 March 2025 Restricted funds Tangible fixed a35els Heritage assets Fixed asset investment$ Current assets Currenl liobililies 28.751 113.056 141,807 46.566 1,225 284,656 174,392 399,862 1.225 262,693 (74.392) 264,843 21,963 Total nel assets 135,019 Unrestricted funds General Total funds •t31 March 2024 Restricted fund5 Tangib fixed assets Heritage assets Fixed asset investments Current assets Current IHbilities 15.245 43.562 1.225 280,629 57.526 15.245 43.%2 1.225 285,629 57.526 5.(K)O Total nel assets 283.135 5,0¢)0 288,135 22 Related party transactlons During the year the charity made the fdlo*ing related party transactions: The Burton Enterprises Ltd During the year, costs of £37.224 (2024 - £32.847) Te recharged to the charity$ sub$Kliary, The Burton Enlerpfises Limited. Al the balance sheet dale the amount due fffjm The Burton Enterprises Lld was £29,431 12024 - £26,805) Page 26