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2025-03-31-accounts

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CROMWELL MUSEUM TRUST

REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

REGISTERED CHARITY No 1166233

Docusign Envelope ID: 6FC93D43-56E8-4065-B7A4-A28C45D98702

CROMWELL MUSEUM TRUST FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Contents Pages
Trustees' Report 1-9
Independent Examiner's Report 10
Statement of Financial Activity
incorporating the Income and Expenditure Account 11
Balance Sheet 12
Notes to the financial statements 13-16

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Cromwell Museum Trust Annual Report 2024-25

Welcome and Overview

The Trustees present their report with the financial statements of the Charitable Incorporated Organisation for the year ended 31 March 2025. The financial statements have been prepared in accordance with the accounting policies set out in the notes to the financial statements and comply with the charity ’ s trust deed, applicable law and the requirements of the Statement of Recommended Practice, “ Accounting and Reporting by Charities” 2019 and the Companies Act 2006.

Reference and Administrative Details

Cambridgeshire County Council devolved its governance and management responsibilities for the Cromwell Museum to the new Cromwell Museum Trust from 1 April 2016. The Charitable Incorporated Organisation was registered with the Charity Commission for England and Wales on 29 March 2016 with registration number 1166233.

Structure, Governance and Management

The operation of the Charitable Incorporated Organisation is governed by its Foundation Document. As a charity registered with the Charity Commission for England and Wales HM Revenue Customs have recognised the charity for tax purposes. Since the charity only uses its funds for charitable purposes no taxation is then payable on the income or gains. The overall responsibility for the operations of the Charitable Incorporated Organisation and its finances is with the Directors.

During the year our Chair, Camilla Nichol, came to the end of her time as a Trustee and we would like to record our sincere appreciation of her sterling work and guidance during her 9 years with the Trust. We also saw the retirement from the board of another founding Trustee, Jonathan Djanogly, who was the area MP and who gave a lot of time and good advice to the Museum. We thank them both.

Trustees

Hon President: Peter Johnson Chair of Trustees : Camilla Nichol (until January 2025), then Charles Nixon Vice Chair of Trustees : Charles Nixon (until January 2025) then Tim Allsop Trust Treasurer: William McVey

Trustees : Nicola Clarke, Jonathan Djanogly MP (until January 2025), Cllr Sarah Gifford, Paul Lay, Iain Strath, Cllr Karl Webb, Angela White-Horan.

New Trustees added in 2024 : Tim Allsop, Zara Matthews, Rob Smart, Lucy Scott, Gerry Tucker, Ben Obese-Jecty MP (Ex-Officio)

The Trust is privileged to have as its Patron, The Right Honorable Sir John Major, KG, CH.

Staff:

Curator: Stuart Orme Learning and Communities Officer: Kristina Kapitza Visitor Assistant: Helen Brooke

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Charitable objects

The objects of the Charity are to advance the education of the public in the life and legacy of Oliver Cromwell, Lord Protector, by the establishment and maintenance of the Cromwell Museum in such ways as the Trustees think fit and fulfil such other purposes which are exclusively charitable according to the law of England and Wales and relate to the charitable work of the Charity.

Objectives and Activities

The Cromwell Museum has the ambition to be the key resource for the enjoyment and understanding of the life and times of the 17th century soldier and statesman, Oliver Cromwell. We have the finest collection in the world of items relating to this remarkable, yet deeply controversial individual, we will safeguard and expand this collection, ensure that its significance is recognised and use it as the inspiration for an innovative public programme. Working with partners and stakeholders, we will work to make the museum, and Huntingdon, a must-see destination which will attract visitors from around the world to appreciate Cromwell the man, his life and work through imaginative and immersive visitor experiences underpinned by the world class collections and archives. We will make the Museum as sustainable as possible.

In broad terms we aim to create an internationally recognized centre to learn about the life, times, and legacy of Oliver Cromwell, in the heart of Cromwell Country.

This ambition was reaffirmed in November 2021 with a comprehensive review of our objectives, strategic plan, and priorities for the next three years. A further review will take place in February 2026.

2024/25 Highlights: Facts and Figures:

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Activity in 2024/25 against our Objectives:

Our strategic priorities are set out in our Strategy. These were created by Trustees and Staff in consultation with volunteers and other stakeholders, and are:

An Unrivalled Cromwell Collection and Archive

To ensure this outstanding collection of art, artefacts, and archival materials relating to Cromwell and his times, has a secure future with the Trust, is accessible to all, is recognised for its pre-eminence and is ever growing, through acquisitions and loans.

The Museum continues to maintain high standards of collections management to look after its internationally significant collections, maintaining our Museum Accreditation with Arts Council England. We were also able to take in 29 items into the collection; we are very grateful to those who continue to donate or loan items to support our collections and make them available for future generations to enjoy. These items vary from original artefacts and documents to more recent representations of Cromwell in popular culture. Some items fall within the priorities within our collecting policy, such as items relating to the Cromwellian conquest of Ireland or the readmission of the Jewish community to England.

We had the opportunity to also fundraise to purchase Oliver Cromwell’s watch, offered for sale by private treaty, one of only two that can be provenanced to have belonged to him in existence. We raised through public donations £10,500 towards this in a matter of weeks and further

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grants were awaited by the end of that financial year.

We continue to deal with an increasing number of enquiries and are exploring ways in which we can progress the digitization of the collection, provide greater access and to help manage the number of enquiries. This continues to demonstrate the international significance of our collection, with our collections being referenced increasingly in publications.

Engaging People with Cromwell’s Story

To bring to life and engage people with the remarkable and controversial story of the life and times of one of the seminal figures of British history, the soldier and statesman Oliver Cromwell. To do this in an engaging and informative way, reaching as wide an audience as possible, encouraging people as a result to explore the wider region.

This year we staged two major in-house exhibits, looking at aspects of the mid-17[th] century. The first was ‘Cromwell’s Huntingdon’, commemorating the 425[th] anniversary of his birth in the town and what the area was like at that time. This was particularly popular with local visitors keen to find out more about their local history, and featured items kindly loaned by Huntingdonshire Archives. The second was ‘Cromwell’s Head: The Death and Afterlife of Oliver Cromwell’, looking at the strange story of what happened to the Lord Protector after his death, with the misadventures of his severed head! This exhibit was assisted greatly by the Master, Fellows and Archivist of Sidney Sussex College at the University of Cambridge, who loaned us items relating to the head and its story, as it had its final resting place there in 1960.

We staged 41 events over the 2024 -5 financial year including family friendly craft activities during school holidays: weekend living history displays and our popular online lecture series. This continues to attract high profile speakers from the academic community and attendees from around the world by the convenience of Zoom.

We also attended 5 community fairs, festivals or events throughout June and July 2025, engaging over 300 people with the Museum, using our new branded gazebo. Over the last year our Curator and volunteers have visited a wide range of community learning groups to share topics of interest relating to Cromwell, the 1600s and aspects of local history. These visits in 2024/5 engaged with over 2300 people across 38 adult learning groups including U3A, Local History Societies and WIs, again, breaking the previous year’s record.

The Museum continues to grow its presence on social media, expanding onto new platforms on Bluesky and TikTok. The latter has helped develop new, younger audiences with some posts reaching an audience of 250,000. In the spring of 2025, we took on a part-time member of staff, Hollie Atkins, to help develop video content for this, YouTube and other platforms.

We would like to express our thanks to our amazing team of volunteers for their hard work throughout the year in engaging with the public and bringing the story of Cromwell to life for our visitors.

Supporting Learning for All

To create an environment, both physical and virtual, that can be used for learning for all ages, purposes, and abilities, and for a variety of subjects - be it for academic

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study or for enjoyment.

Over the last year, we continued to deliver the Museum’s education programme, reaching out to new schools while continuing to engage those that have visited us in the past. During 2024 – 2025, 542 students engaged with the Cromwell Museum in person, virtually, and in their own classrooms. Of these, 7 were primary schools, 7 were secondary schools, 1 was a home education group. 8 schools engaged with us for the first time while the rest were returning.

This year, we began to redevelop the Museum’s work experience programme in partnership with the two local secondary schools: Hinchingbrooke and St. Peters. While these schools have not engaged in a traditional museum visit to the Museum in the past 4 years, the Museum has hosted work experience students from both schools. To build on this relationship and provide a better work experience programme for both the Museum and the students, a new programme will be launched in the autumn of 2025. Depending on the success of the programme, it may be expanded to other schools that regularly have work experience students at the Museum in future years. The relationships with these teachers have allowed us to be able to finally establish a learning consultation panel, which we hope will continue to refine and develop our programme over future years.

Some feedback from teachers and students:

We continued to engage with community groups over the last year with re-enactors and our handling collection, including scouting groups and care home residents. Our care home engagement grew this year, with 8 visits to 5 different care homes taking place since July 2024.

Supporting our local economy

To make the Museum, its collections, and stories as visible as possible. We want to bring as many visitors as possible to Huntingdon to see us - not just to spread our message and increase our sustainability, but to benefit the town & surrounding area too. This will help cement the idea of this being 'Cromwell Country'.

The overall number of in-person visitors for 2024-25 was 15,314 , the busiest year that the Museum has had since 1992 and the second highest number of visitors since it was first opened in 1962. Of these 57% of visitors coming from within Cambridgeshire, many of whom are repeat visitors who visit us 2-3 times per year, 32% from elsewhere in the UK and 11% international visitors. Using the AIM Toolkit for economic value it is estimated that the Museum was worth £489,000 to the local economy in 2024-5.

We continue to support the wider development of Tourism to Huntingdon, working with both Huntingdon Town Council and Huntingdon Business Improvement District (BID

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Huntingdon), as well as taking a key part in the town’s annual history festival in July.

Between December 2024 and March 2025, we engaged an external consultant, Lode Heritage, to work with us to do a major Audience Development report. This included surveying existing visitors, and non-visitors by surveying in Huntingdon, online, via targeted groups and at key local events. This showed us how the museum is valued by the local community – even those who do not currently visit usually referred to it as ‘our museum’, gave us ideas for expansion and future programming as well as key target audiences.

The economic significance of the Museum to Huntingdon will be enhanced by our plans for expansion, with the securing of a building six times the size of our current space. This was achieved with support from Huntingdon Town Council and Huntingdonshire District Council, made possible with a grant from the Combined Authority for Cambridgeshire and Peterborough. The lease will be signed in 2026 and a peppercorn rent will be charged.

Sustainability

For the museum to benefit from strong and diverse income streams through philanthropy, commercial activity, and collaboration with funding bodies. The Museum is supported through a network of key stakeholders and partners, locally, regionally, and nationally. We also wish to ensure that our environmental footprint is as low as possible and that we are contributing in the battle against climate change.

We are hugely grateful to those who have funded us over the last year, including a third year of a three year grant of £20,000 from the Garfield Weston Foundation towards our educational work; grants of £9,500 from the Huntingdon Freemen’s Trust to support public programmes; £9,000 from the Foyle Foundation to support learning activity; £600 from Cambridgeshire County Council’s Museums Fund for replica items for learning; £15,000 from the Swire Family Trust to support moving collections online and several private donations. This increased fundraising activity has been enabled thanks to working with an external company, Albright, who have been invaluable in this regard in providing us with extra capacity and expertise.

We continue to work to reduce our environmental footprint and are looking at ways in which we can try to reduce our energy usage; as part of our proposed expansion, we are exploring ways in which we can use energy efficient techniques to lower our carbon footprint, including use of air sourced heat pumps and solar panels where possible.

The Board of Trustees went through various changes in early 2025, with the expiration of the final term of both Camilla Nichol and Jonathan Djanogly, to whom we are hugely grateful. To allow a handover period for these and other trustees whose term limits come up in the summer, five new Trustees were recruited in the autumn of 2024. This was made possible by an external consultancy, Minerva, and a grant from SHARE Museums in East Anglia. This brings in new expertise and ideas to our Board, helping us be fit for the future.

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Looking Ahead

With the acquisition of a new building, we have exciting opportunities for the year ahead:

Financial Statement

Financial Review

Donations and legacies income for the year of £137,213 were higher than in the previous year (2024: £71,120 included £15,000 restricted). Events income was also substantially higher at £29,308 (2024: £15,533). Shop sales increased to £16,381 (2024: £14,140) and with a reduction in the cost of goods, an increased surplus of £9,152 (2024: £6,673) was generated. These increases in income were the consequence of greater activity in fundraising and educational events. In turn this resulted in a higher cost of fundraising, but this continues to provide a basis for future increases of income from these sources.

Generous financial support was again received, and much appreciated, from a range of sources: Speaker’s Art Fund, Garfield Weston Foundation, Cromwell Association, Sealed Knot, Huntingdonshire District Council, Cambridgeshire County Council Museums Fund, Foyle Foundation, Freemen’s Trust, Swire Trust, Aldama Trust and the Goodliff Awards.

The Trustees continue to seek funds to support the recurrent costs of running the Museum. In addition, work has started towards developing additional resources sufficient to enable a significant expansion of both the property and activities of the Museum. Since the year end approximately £370,000 in funding has been secured, with significant sums being secured in relation to the new building and the purchase of Cromwell’s watch.

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Reserves

Total reserves at the year-end were £672,785, of which £67,052 were restricted funds (2024: £650,400 and £16,910). Free reserves at 31 March 2025 were £8,299 (2024: £15,817).

Risk Management

The Trustees have examined the major strategic, business and operational risks which the Museum faces and confirm that systems have been established to identify the appropriate action to be taken to manage those risks.

Public Benefits

The Cromwell Museum Trust was established in 2015 to take over the management and development of the Cromwell Museum in Huntingdon – then under threat of closure. The Trust’s formal objective as a registered charity is “ to advance the education of the public in the life and legacy of Oliver Cromwell, Lord Protector, by the establishment and maintenance of the Museum in such ways as the Trustees see fit”.

In accordance with the Charity Commission for England and Wales, the Trust operates as a charity and independent Museum to provide several Public Benefits:

Registered Office

Huntingdon Library. Princes Street. Huntingdon. Cambridgeshire. PE29 3PA

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Bankers

Lloyds Bank plc. Huntingdon. Cambridgeshire

Statement of Trustees’ responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Charity law requires the Trustees to prepare financial statements for each financial period, which give a true and fair view of the state of the affairs of the charitable company and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for the period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records which disclose with reasonable accuracy, at any time, the financial position of the Charitable Incorporated Organisation and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charitable Incorporated Organisation and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Approved by the Trustees and signed on their behalf by:

15 December 2025

………………………………. …………………………

W M McVey Date

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CROMWELL MUSEUM TRUST INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES

I report on the financial statements of the charity for the year ended 31 March 2025 which are set out on pages 11 to 16.

Responsibilities and basis of report

As the charity’s trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).

I report in respect of my examination of the charity’s accounts carried out under section 145 of the Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.

Independent examiner's statement

I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

  1. accounting records were not kept in respect of the charity as required by section 130 of the Act; or

  2. the accounts do not accord with those records; or

  3. the accounts do not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an 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 understanding of the accounts to be reached.

Chater Allan LLP 7 Quy Court Colliers Lane Stow-cum-Quy Cambridge CB25 9AU

Independent Examiner: Stuart Graham Berriman BFP, FCA, FCCA Date: 15 December 2025

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CROMWELL MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
Unrestricted Restricted Total Total
Funds Funds Funds Funds
General Fund 2025 2024
Note £ £ £ £
Income from:
Donations and legacies 72,071 65,142 137,213 71,120
Other trading activities
Shop sales 16,381 - 16,381 14,140
Events 29,308 - 29,308 15,533
Reproduction fees 104 - 104 130
Total Income 117,863 65,142 183,005 100,923
Expenditure on:
Raising funds
Fundraising costs 16,913 15,000 31,913 8,486
Charitable activity
Advancement of Education 2 121,479 - 121,479 107,980
Other trading activities
Shop purchases 7,229 - 7,229 7,467
Total Expenditure 145,620 15,000 160,620 123,933
Transfer between funds - - - -
Net (Expenditure)/income and net movement in (27,757) 50,142 22,385 (23,010)
funds for the year
Total funds brought forward 633,490 16,910 650,400 673,410
Total funds carried forward 605,733 67,052 672,785 650,400
----- End of picture text -----

All income and expenditure derive from continuing activities.

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CROMWELL MUSEUM TRUST BALANCE SHEET AS AT 31 MARCH 2025

----- Start of picture text -----
2025 2024
Note £ £ £ £
FIXED ASSETS
Tangible fixed assets 4 597,434 617,673
CURRENT ASSETS
Stocks 5,221 5,752
Debtors 5 59,634 1,237
Cash at bank and in hand 31,044 49,485
95,899 56,474
CREDITORS
Creditors due within one year 6 20,548 23,747
NET CURRENT ASSETS 75,351 32,727
TOTAL ASSETS LESS CURRENT LIABILITIES 672,785 650,400
NET ASSETS 672,785 650,400
FUNDS OF THE CHARITY:
Unrestricted funds 8 605,733 633,490
Restricted funds 8 67,052 16,910
TOTAL FUNDS 672,785 650,400
----- End of picture text -----

Approved by the Board of Trustees and signed on their behalf by:

……………………………………..

W M McVey Date 15 December 2025

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CROMWELL MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES

1.1 Basis of preparation

The financial statements have been prepared under the historical cost convention. The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006, and UK Generally Accepted Accounting Practice.

Description of Fund Types

Unrestricted Funds may be used for any purpose permitted by the Charitable Deed.

Restricted Funds are funds under the control of the Trustees, the assets and net income of which may be used only for certain purposes.

1.2 Going concern basis

The Trustees consider that the going concern basis is appropriate as they consider the reserves levels and expected investment income to be at sufficient levels to ensure that the Trustees can meet their financial obligations for the next 12 to 18 months and on that basis the Charity is a going concern.

1.3 Financial Reporting Standard 102 - Reduced Disclosure Exemptions

The Trustees have taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102:

1.4 Income

Income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Donations and grants are treated as income when any conditions imposed by the donor concerning the transfer of funds have been met.

Income from activities to generate funds is treated as income in the period the event took place.

Gift Aid is recognised when the company is entitled to it.

1.5 Expenditure

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably.

Grants payable are treated as resources expended when there is an obligation to transfer funds.

Costs in relation to the administration of the charity are allocated to governance costs.

1.6 Tangible fixed assets

Heritage assets represent the collection held by the Trust for their contribution to knowledge and culture. The assets were valued by an independent expert in 2016 based on insurance value. No depreciation is charged on the heritage assets as their economic life and high residual value mean that any depreciation would not be material. Heritage assets are reviewed at the year end for evidence of impairment and adjusted accordingly within the Statement of Financial Activities.

The Museum redevelopment costs will be depreciated over 10 years and the redevelopment was completed on 1 March 2020.

1.7 Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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CROMWELL MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1 ACCOUNTING POLICIES (continued)

1.8 Taxation

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

2 EXPENDITURE ON CHARITABLE ACTIVITY Advancement of Education

Direct costs
Light and heat
Property costs
Salaries (note 3)
Staff and volunteers
Office costs
Collection care and management
Education costs
Professional fees
Bookkeeping fees
Subscriptions
Depreciation
Support costs
Governance
Independent examination
Total
STAFF COSTS
Wages and salaries
Employers National Insurance
Pensions
The average number of staff during the year was:		 Unrestricted
Funds
General Fund
£
14,886
3,787
59,864
2,310
1,497
11,077
1,310
1,015
2,598
1,637
20,239
1,260
121,479		 Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-		 Total
2025
£
14,886
3,787
59,864
2,310
1,497
11,077
1,310
1,015
2,598
1,637
20,239
1,260
121,479
2025
£
46,127
3,841
9,896
59,864
2025
2		 Total
2024
£
7,312
4,274
52,074
1,323
3,545
9,727
2,874
1,680
2,668
944
20,239
1,320
107,980
2024
£
40,034
3,433
8,607
52,074
2024
2

The members of staff are employed by Huntingdon Town Council. The Cromwell Museum Trust paid 100% of the Learning Officer's salary costs and paid 100% of the Visitor Assistants salary costs.

The trustees received no remuneration or expenses during the year.

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CROMWELL MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

4 FIXED ASSETS

Cost or valuation:
At 1 April 2024
Additions
At 31 March 2025
Depreciation:
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024		 Heritage
Museum
assets
redevelopment
£
£
497,346
202,384
-
-
497,346
202,384
-
82,057
-
20,239
-
102,296
497,346
100,088
497,346
120,327		 2025
Total
£
699,730
-
699,730
82,057
20,239
102,296
597,434
617,673

Heritage assets represent the collection held by the Trust for their contribution to knowledge and culture. The assets were valued by an independent expert in 2016 based on latest insurance values. There has been no disposals or impairment of heritage assets since they were acquired in 2018/19.

5 DEBTORS

Tax recoverable
Debtors
CREDITORS: Due within one year
Creditors and accruals		 2025
£
429
59,205
59,634
2025
£
20,548
20,548		 2024
£
1,112
125
1,237
2024
£
23,747
23,747
Collections
External Fundraising
Cromwell's Watch
Collections Digitalisation Project		 Fund
b/fwd
£
1,910
15,000
-
-
16,910		 Income
£
-
-
50,142
15,000
65,142		 Expenditure
£
-
15,000
-
-
15,000		 Fund
c/fwd
£
1,910
-
50,142
15,000
67,052

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CROMWELL MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

ANALYSIS OF RESTRICTED FUNDS (cont)

Collections Fund - Maintaining the museum's collection.

External Fundraising Fund - Donations were received to support the future cost of employing a Fundraiser. This is in anticipation of the planned expansion of the museum, for which it is expected that substantial external financial support will be necessary.

Cromwell's Watch - funds to secure the purchase of Oliver Cromwell’s Watch for the collection.

Collections Digitisation Project – funds secured to enable the digitisation of the Cromwell Museum’s collections, including a new collections database and online access.

8 ANALYSIS OF NET ASSETS BETWEEN FUNDS

Tangible fixed assets
Net assets/(liabilities)
Total net assets		 Unrestricted
Funds
General Fund
£
597,434
8,299
605,733		 Restricted
Funds
£
-
67,052
67,052		 Total Funds
2025
£
597,434
75,351
672,785

9 COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES

Income from:
Donations and legacies
Other trading activities
Shop sales
Events
Reproduction fees
Expenditure on:
Raising funds
Fundraising costs
Charitable activity
Advancement of Education
Other trading activities
Shop purchases
Total Expenditure
Transfer between funds
Net (Expenditure)/Income and net
movement in funds for the year		 Unrestricted
Funds
£
56,120
14,140
15,533
130
85,923
8,486
107,980
7,467
123,933
-
(38,010)		 Restricted
Funds
£
15,000
-
-
-
15,000
-
-
-
-
-
15,000		 Total
Funds
2024
£
71,120
14,140
15,533
130
100,923
8,486
107,980
7,467
123,933
-
(23,010)

There were no related party transactions during the year.

16