THE GURKHA MUSEUM The Gurkha Museum Trust Annual Report and Financial Statement for the Year Ending 31 December 2024 Charity Number 1169920
Contents Page Report of the Trustees Independent Examinerfs Report Consolidated Ststement of Financial Activities Consolldated Balance Sheel Charity Balance Sheet Consolidated Cash Flow Slatement Notes to the Cash Flow Statement Notes to the Financial Statements Detsiled Ststement of Financial Actlvities 18 19 20 21 23 24 35
THE GURKHA MUSEUM TRUST- CHAIRMAN'S STATEMENT 2024 We have been lifted by the extraordinary levels of support and generoslty In 2024, our Fillleth Anniversary year and when our Reaccreditation by the Arts Council England was fully successful, valid for a further five years. This has allowed us not only to get the delivery phase of Project 'Kaida', the name w8 have given to our major Redevelopment Project. ready to go bul has resulted in the achievement of raising the majority of our Capital Appeal need of £5.2 million though payments and firm commitments, leaving a final £1 million to secure In 2025 and 2026.1 am pleased to report further progress has been made since the end of the financial year. Thls positive outcome results from the Impact of plannlng and recruitlng a specialist fundraislng and support team to achieve this. The bedrock funding of our Appeal has been secure(l from the National Lottery Heritage Fund (NLHF) who confimied our full request for Stage Two funding in late 2024 and frorn the particular generosity of the Serving Brigade of Gurkhas through their Service Day's Pay Giving (SDPG) as highlighted last year. In fact, the Brigade confirrned further SDPG support for the Trust In 2024. It has encouraged generoslty elsewhera that every soldier from Rifleman to General has continued to contribute lo Project Kaida. It is this enduring support from the Brigade of Gurkhas, whether servlng or veteran. that makes the Gurkha Museum so special. Also. I would like to hlghlight the generous grants and pledges of grants from the Foyle Foundalion, the Swire Charitable Trust and others VA for now wish to remaln anonymous, with the prospect of several more in 2025. The Regimentsl Associalions of the 8ntecedent reglments and Ihe Gurkha Brigade Assoclation along with Corporatss and some particularly generous individuals, as well as a number of charity fund ralsing efforts by indivldual soldlers and Gurkha Community Associations have generously swelled the totsl, support that continues into 2025. Our challenge for 2025 is to close in on the remaining gap. while both malntaining the strong fonvard momentum of the Museum itself, and starting the Museum Display rebuild, to be completed, following temporary closure of the museum galleries, by the summer of 2026. As described elsewhere in the Annual Report it has not all been plaln salllng, where we have seen an unanticipated reduction in retail sales and issues of irrecoverable VAT charges. With prudent provlslon this led to a greater than planned trading deficit In the year £179.000 (2023 - £104,000). W8 have laken decisive actions and external advice to resolve these issues in 2025 and return to manageable operating deficits, as part of the medium-temi financial plan, using the financlal model that was developed for us In the previous year. This modelling extends our ability to plan the Museum's finances pwdenlly beyond the Ilfe of the Redevelopment project. Overall, with Project Kaida inflow exceedlng oufflows in the year, we posted an overall surplus of £370,000. (2023455,000) helped by an investmenl gain as well. Investment market turbulence Is a challenge we have already had to face after the year end, and despite some recovery it will b6 difficult to anticipate what the current year will bring in an uncertain world. We were pleased to welcome Major Sanjip Rai as a Trustee in the year, replacing Major Ram Rai, ex-officio as OffiG8r Commanding Slttang Company, Royal Milltsry Academy SandhursL Three new members of slaff Joined us in the year as well, Iwo of them new appointments associated with Project Kaida capacity building, Lauren Grierson and Joseph Harris, and one replacement appolntment, Anusha Adhikarl.
I would like to thank again my fellow Trustees and our staff led by Dr Daren Bowyer, our Director, whose energy and appIltion with his tearn including Emma Boryer, as Head of Fundraising and Marketing, is now in the process of delivering the ambitious vision the Trustees have set. Special mention should also be made of our Assistant Curator Doug Henderson for his excellent work in project managing and securing our Arts Council England Reaccredltation in the year, As in previous years, none of the day-ttrday operalions of the Gurkha Museum, especially now with slaff and trustees so Committed to delivering Project Kaida. would be possible without our dediGated team of Volunteers, supported by our growing body of Friends. I would like to thank them all as we move into the exciting delivery phase of our ambitions in 2025.
REFERENCE AND ADMINISTRATNE DETAILS Charity Name The Gurkha Museum Trust Reglstered Charity Number 1169920 Reglstered Office The Gurkha Museum Peninsula Barracks Romsey Road Winchester Hampshire S023 8TS Vlce Patrons Lieutenant General Sir Peter Duffell KCB CBE MC Lieutenant General Richard Wardlaw OBE to September Major General Gerald Strickland DSO MBE from September Colonel Denis Wood MBE Chalrnian of the Trustees Mr Martln Brooks MA FRAS Electsd Trustees Colonel Charle8 Bamett MBE Major Michael Bamey Lieutenant General Sir David Bill KCB Mr John Bulbeck MSCI Major John Harrop MrSlev8 Maslin FCA Mrs Sudha Rai Colonel William Shuttlewood OBE Ex.Offlcio Trusteos Colonel David Robinson (Colonel Brigade of Gurkhas) Major Ramkumar Rai RGR (Offi¢er Commanding Gurkha Company RMAS>to August Major Sanjip Rai RGR (Officer Commanding Gurkha Company RMAS) from August Museum Dlrector & Company Secretsry Dr Daren Bowyer MA MPhll PhD Accountants WSnchester Bourne Ltd Sullivan Court Colden Common Winchester S0211WP
Independent Examlner Sarah Alexander FCCA FCA Lewis Brownlee (Chichester) Limited Appledram Barns Birdham Road Chichester West Sussex P020 7EQ Investment Managers BlackRock Investment Management (UK) Ltd 12 Throgmorton Avenue London EC2N 2DL CCLA Senator House 85 Queen Vlctoria St London EC4V 4ET
STRUCTURE, GOVERNANCEAND MANAGEMENT Governing Documents The Board of Trustees operales under a constitution dated 14 October 2016, as amended by a Resolution dated 26 October 2016, both registered at the Charity Comrnission under Registered Number1169920. Organisational Structure The Trust is a Charitable Incorporated Organisation run by the Board of Trustees and managed day-to-day by the Museum Director with the support of the Assistsnt Curator, Head of Fundralsing and Marketing, and Operations Manager. The Senior Management Team is aided by the work of a Digital Comrnunications Officer, Fundraising Coordinator and four Museum Assistants (bNO full time and two part- time), three of whom are ex-Gurkhas. Additionally. two further posts were created in 2024, as part of the redevelopment project, Project Kaida. They are a part-time (0.5 FrE) Community Engagement & Partnerships Officer, and a full time Archives and Digitisation Officer. The Board's work is enhanced by three Committees dedlcated to Govemance, Investments, and Risk & Audit. These Committees are made up of selected trustees and advisors working to Terms of Reference which are regularly reviewed arKI enable the Board to give due attention to matters that require consideratlon. In addition, there is also an infomal Collections Advisory Group, which includes speclalist adviser5 as appropriate, to provide expertise relating to the Museum's collections. Govemance of Projecl Kaida, the Museum's redevelopment project, is overseen by a Museum Development Board, aided by a Capital Appeal Committee. Both of these are made up of a mix of both trustees and ad hoc external members. The Board of Trustees meets at least three times a year to consider proposals presented to them by the committees and to provide strategic d irection to the executive. Appolntments offi holders, elected Trustees. and ex-officio Trustees are appointed in accordance with the Constitution. The ex-officio trustees represent all ranks of the serving Brigade of Gurkhas. In August. Major Sanjip Rai became a Trustee. replacing Major Ram Rai, ex-officio as Officer Commanding Sittang Company. Royal Militsry Academy Sandhurst. There were no other changes to the composition of the Board of Trustees during the reporting period. The dedication, commitment and contribution of all trustees is acknowledged with gratitude. It is especially irnportant to The Gurf(ha Museum Trust that it remains closely connected to the serving Brigade of Gurf(has and that the views of the serving Brigade are well represented. In this respect, the eXffIci0 trustees have a partlcularly significant role to play.
Trustee Induction and Tralnlng Newly elected Trustees are brtefed by the Chairman and Director on all matters relating to the Trust. They receive copies of the Constitution, the latest sets of Minutes, Annual Report and Financlal Statements, Charity Commission guidance on trustee responsibilities, and other documents as deemed appropriate. Extemal training is also offered and undertaken by Trustees from time to tlme. Staff Changes In January we were joined by Lauren Grierson, in the first of our Project Kaida roles, that of Community Engagement and Partnerships Offlcer. The main purpose ofthe role is to extend the Museum's reach into the community, Including schools and with a special emphasis on reaching and growing new audiences as identified by the redevelopment projecfs Activity Plan. In March the second of our Project Kalda roles, Archlves and Digitization Officer, was filled by Joseph Harris. The main purpose of the role Is to supporl the Assistant Curator in extendlng the Museum's reach through digitisation of our extensive archives and making our collections more accessible to researchers and hlstorians through better cataloguing and collections management. In the summer, our Digital Communications Officer, Brad Hall, left us for a commercial marketing role. His place was filled In November by Anusha Adhikari. Staff Professional Development and Networklng Trustees contlnue to glve hlgh priorty to the training and development of staff and to allocate funds accordingly. Staff now have access to a wide range of online trainlng and maximum use is made of thls for completion of annual routine and mandatory training such as health & safety subjects arKJ dala protection. Personal and professional development needs are Identified through the annual appraisal process and Individual training and development plans agreed accordingly. Opportunities are provlded for staff to meet fellow professionals at such events as the Amy Museums Ogilby Trust (AMOT) Annual Conference, National Army Museum Conference and the Museums and Heritage Show. We believe engagement with our sector and our local community Is critical to success. The Assistant Curator Is a member of the Steering Committee of South West Museums Development, the Director chairs Hampshire Military Museums Network and the Natlonal Army Museum's Southem Anny Museums Forum. The Director is also a member of the Winchester Business Strategy Group and Winchester City Council's Cultural Strategy Development Forum. We play a very supportive role as part of Winchester's Military Museums. The stand out training and development evenl of the year was the opportunlty, in November 2024, for all of the office staff to vislt Nepal- for most a first visit.
Accreditation The Museum is Ac¢redited by Arts Council England, first being awarded this in 2011 and was SUCGessful in its subsequent renewal in 2015 (registration no. 1775). Delays to the renewals process as a consequence of the Covid pandemic mean that our accreditation was extended arKI we were inv5ted to submit for renewal in late 2023. Appropriate effort had been put into ensuring the Museum's readiness for this, and we were able confidently to submit our appllcation in December 2023. We were dellghted that our application has been fvlly successful. Fundraislng Regulator The Gurkha Museum continues to register on a voluntsry basis with the Fundraising regulator. Rlsk Management All activities are subject to regular risk review by the Board of Trustees. Major risks are, for this purpose, those Ihat could have a signiflcant effect on: The Museum's operational perfonnance, including rlsks to staff and volunteers. The Museum's abillty to achieve its objects. Meeting the expectation of visitors and supporters. The Museum's reputation and Integrty. The Museum's assets. The Trustees identlfy and review these risks on an ongoing basis and satisfy themselves that adequate procedures are in place to minimise and manage the risks In a timely manner. Where possible and appropriate, risks are covered by insurance. Trustees noted the forthcoming presentstion to Parliament of The Terrorism {Proteclion of Premises) Act 2025 ("Martyn's La). Our visitor numbers and capacity are below the threshold required for fonnal action in light of this. However, trustees thought It prudent to take note of the requlrements and that staff should take up opportunities for relevant training. They also considered the new Statutory Duty to take all reasonable steps to avoid sexual harassment in the course of employment. A detailed risk assessment was undertaken wilh the support of our out-sourced HR advisors, and relevant policies were updated appropriately.
OBJECTIVES AND ACTMTIES Objects for Public Benefit The objects of The Gurkha Museum Trust are stated in the Constitution; 'To advance education in partlcular but not exclusively by the provision of The Gurkha Museum and the preservation and maintenance of the Brigade collection; and to promote the efficiency of the Amed Forces by upholding the traditions and ethos of the Brigade of Gurkhas and perpetuating its deeds." Aims and Objectives Maintain, for posterity. collections and artefacts associated with Britain's Gurf(has and actively provide open public access, and academic research facilities, to promote military scholarships and public education and understanding. Encourage visitors of all ages, gender5 and ethnic identities to visit: or otheiSe engage with, the Museum to leam about and enjoy the unique history of Britain's Gurkhas, and to promote and educate the public in the history of Gurkhas and their culture in Nepal. Engage with local communities, schools, speclal Interest and disability groups and Nepalese community groups In providing a source of education, information and understandlng of the history, culture and religion of Gurkhas and their role In the modem British Army. Build parlnerships and networks with historical and cultural organisations, and other slmilar museums, to deliver more efficiently and widely promote the purpose, objectives, and activities of the Museum. Provide a heritage focal point for Gurkha units, past and present, and inspire future generations of British and Gurkha officers arKI soldiers. Provide the Army and other govemment departments with sources of information on historical matters unique to Gurkha service. Public Benefit statement The trustees confimi that they have taken into account the Charity Commission's general guidance on public benefrt when reviewing the Charity's aim and objeclives and in making decisions. ACTIVITY AND PLANS 2024 marked the 50th anniversary of the founding of the Gurkha Museum, then in converted barrack-hut in Church Crookham, with limited public access. It was frtting, then, that as we celebrated that milestone, we took enonnous steps forward toWaS in our ambitious redevelopment projecl - Project Kaida. This will cement the 10
Museum's place not just as a must-see visitor destination but as the internationally recognised reference centre for Gurkha heritage. The main focus for the first seven months of the year was on the detailed design work for the redevelopment for which we had received 'Development Phase, funding frorn the National Lottery Heritage Fund (NLHF). The designs, to Royal Institute of British Architects (RIBA) Stage 3 (Spatial Coordination), were submitted to NLHF In July, together with a comprehensive plan for A¢tlvity and Outreach, a detsiled interpretstion strategy, and a business plan wlth long range Income and Expenditure forecast to demonstrate the financial viability of the project. The rigorous and comprehensive application, totaling some 19 supportlng documents and running to over 770 pages, paid off. In a fitting end to our Golden Anniversary year, in December we received the tremendous news that our application had been successful. Whlle there remains a funding gap to be closed, and a good deal of work Still to be done, this is a most significant step forward. More detail and latest updates can be found at: https:Ilthegurkhamuseum.co.uklproject-kaidal Another major achievement for the year was passing our re-accreditation with Arts Council England. This is no tiGk-box exercise but a root and branch examination of a museum's pollcles, procedures and practices, to ensure it deserves this coveted and indeed vital assurance Standard. We first achieved this in 2015, and it is normally a five-year cycle of re-evaluation. However, the Covid pandemic intervened and Arts Council England suspended the process and are only now clearfng a backlog of Accreditatlon and Re-accredltations. It is a particular credit to Doug Henderson, our Ass18tant Curator, who led the process, that we passed at first attempt. A thlrd standout success of our Golden Anniversary Year was to be awarded Cultural and Creative Business of the Year at the Winchester Buslness Excellence Awards. We were runners up In 2023, and winners of Ihe Digitsl Innovation category in 2021, so our track record is strong. We are a srnall museum by national standards but Consistently punch above our welght. That we do so is in no small part due to the support we receive from our Friends and supporters financlally, bul also to the many volunteers who help us, whether in a research capacity, in manning our shop, or in assisting with our outreach, engagement and education activities. Whlle the number of active subscription-paying Friends Increased by 320/0 over the course of 2025, our volunteers clocked-up an impressive 3,716 hours between them. Had we been paying them, even at just the National Living Wage of £11.44 an hour, that is a cash value of £42,500. 2024 saw a good spread of subject matter for our events and talks. covering, among others, the Hunza-Nagar campaign, Galllpoli 1915 (a lecture greatly enhanced by having a Turkish speaker give the Ottoman perspective), Imphal-Kohlma 1944, operations in the Far East after the Japanese Surrender, and, marking the 25th anniversary, the role of Royal Gurkha Rffles in the Kosovo campaign of 1999. Our Summer Exhibltion, among our most successful for footfall, marked our 50th year 11
with a reflection both of the Museum's growth and development and of the many changes undergone by the Brigade over that time. Noting our global ambitions, Ihe Director took part in 25th anniversary commemoratlons in Kosovo In June, and In September both Martin Brooks, our Chaiman. and Doug Henderson, our Assistsnt Curator, joined 7th Gurkha Rffles Regimental Assoclation members and serving soldiers of Tavoleto Company, exploring 7th Gurt(ha Rifles, operations on the Gothic Line and commemorating, in particular, the 80th anniversaries of the action at Tavoleto, and the liberation of San Marlno. In November, the Director joined a National Amiy Museum team in Delhi, deliverfng a curators, course to Indian tri-seNice military museum curators. This also enabled his participatlon in the Indian Military Heritage Festival. With fvnding support from our NLHF Development Grant, and in-county support from British Gurkhas Nepal, all office staff were able to attend an introduction and orientstion visit to Nepal, taking-ln the rnain cultural sights of Kathmandu, a political- military brief from Ihe Defence Attache, and a visit to Pokhara for a recrultlng brief and brfefs by the Gurkha Welfare Trust and the Kadoorie Agricultural Aid Association. They all returned better infomed and greatly inspired. The NLHF Development Grant furKled two new posts to help us move Project Kaida fOrd. In January we were joined by Lauren Grierson as Community Engagement and Partnerships Offscer (part time) and in March by Joseph Harris as Archives and Digitisation Officer. Lauren's role has been lo work with our contractors to deslgn the Activity Plan, to prepare for and initiate its delivery, while Jospeh has been paving the way for the full d igitisation of the archive. We have continued our regular briefings to Gurkha recruits and serving soldiers, seeing a significant growth in visits from units that now have Gurkha sUUnIts, or who find themselves working alongside Gurkhas. The instigation of the Community Engagernent and Partnerships Officer role has allowed us to improve the work we can do to inspire a younger generation. too. In February, we hosted a Children's Cury and Craft Day that saw over sixty visitors tour the Museum, handle Nepali objects; hear Gurkha stories, enjoy a bhat (traditional Gurkha cury), as well as participating in various arts and craft activities. There was also the opportunty to leam about Project Kaida and contribute to Ihe consultation. In August, we trailed a new summer hollday workshop, 'Everest Explorers.. In honour of the Olympics. we celebrated Naik Tejbir Bura's role in the 1922 British Mount Everest expedition. Families discovered whal it takes to climb Mount Everest and then built their own LEGO camp before bringing their creatlons to life using tablet-based coding. Our engagement with older veterans and thelr families also increased. In March, we shared our redevelopment plans with the Nepalese support group, Maddhat Shamuha. We vislted their meeting in Aldershot to deliver a presentstion on Project Kaida and to understand their heritage needs. In May, we assisted an English language wod(shop at Nayo Bato School, Rushmoor, using our object handling 12
collection. We also cond ucted an object-led storytelling workshop for One Community, encouraglng participants to share their own stories connected to our museum artrfacts, and delivered a workshop for Dementia Friendly Alton, where participants shared stories insplred by our Nepali artifacts. Support to those in education broadened, too. April saw a visit from Masters students from Southampton University, for whom the Museum staff team delivered a 'Behind the Scenes, talk showcasing their roles. In June, we participated in The Chalke History Festival schools, day, offering a workshop called Operation BUILD BRAVE. This hands-on activty gave students a glimpse into the Gurkhas, military ald work, particularfy during Operation MARMAT in response to the 2015 Nepal Earthquake. Students built and coded LEGO vehicles to simulate dellvering aid to Nepal. and participated in a question-and-answer sesslon with our Gurkha veteran Museum Asslstsnt Mekh Rana. In addltion to our two new posts, we have seen one other change in the office. Sadly, in the summer, Brad Hall, who had achieved so much as the first ever Dlgital Communicatlon Officer at the Museum, left us for new challenges with a commercial start-up. In November we welcomed as hls replacement Anusha Adhikari who has the added bonus of being of Nepali heritage. Acquisitlons The Museum has continued to acquire, through purchase or donation, objects which will add to the richness of its colleclion. As a guiding principle, we ask ourselves how the object will add to the telling of relevant stories. Notable acquisitions in 2024 were: Commemorative 6th Gurkha Rlfles silver tsnkard, produced for the amalgamation of 6th Gurkha Rifles into Royal Gurkha Rifles (and apparently having languished as a pen holder in one of Scotland's university's libraries for some time, according to the donor). Framed car pennant of General Sir Walter Walker when Director of Operations, Brunei and Borneo in the 1960s. Maquette statuette by sculptor Amy Goodman as preparation for her full-size statue of Kulbir Thapa VC in Aldershot. Browning Hi-Power 9mm pistol of Capt Carr, 3rd Battalion 5th Royal Gurkha Rifles, c1945. Material, including a ceremonial kukri, from Lt Wynn ParyOneS, with 9GR during the Amritsar Massacre of 1919. Archive of letters written by John Twells, 1 st Gurkha Rifles during his tirne In service in Ihe Second World War. Serbian Special Military Police uniform as wom in Kosovo during Royal Gurkha Rifles, adions there In 19gg. ArchNe of material of E.D. 'Moke' Murray, 4th Gurkha Rifles, 7th Gurkha Rines and V-Force in the Second World War. Presentation kukri presented to Dr Charles Lansley for his work with the Gurkha Language School in the 1990s-early 2000s. 13
3 x photograph albums belonglng to Col Rogers, the original founder of 2rKI Battalion 1st Gurkha Rffles c.1870. Looklng to the Future Throughout 2025 we wlll be celebrating 210 years since Gurl<has were first recruited into Ihe armies of the East India Company. and marking. of course, the very significant 80th anniversaries of VE and VJ day, commemorating the Gurkha contributions in both Europe and Burma. However, our NLHF grant secured. the main effort will be on commencing the DelNery Phase of Project Kaida, our redevelopment project. In January we will be working with the Ministy of Defence (our landlord) and NLHF to secure the necessary legal agreements to allow us to proceed and then stsrting the tender process for the major contractors. Our intention is to begin the decant of the collections in JunelJuly and to see base-build work starting on site in JulylAugust. The offices, library and McDonald Gallery will remain open throughout, and we will mount a series of temporary exhibitions. We hope to see the new Museum open in summer 2026. Concluslon 2024, our Golden Anniversary Year, was one marf(ed with signlficant successes and substantlal steps forrfdard in our plans for redevelopment. Despite the workload incurred by that project, the Gurkha Museum has continued to offer a wide range of activity, to grow its audiences and to engage wlth an ever broader range of stakeholders. The demands of the next stages of Project Kaida, will be greater still. Nevertheless, we go into 2025 committed, encouraged and confident. FINANCIAL REVIEW THE GURKHA MUSEUM FINANCIAL REVIEW YE 31ST DECEMBER 2024 Results in the year The Museum had another successful year in preparation for its major redevelopment (Project Kaida) and further information is given in the Activity and Plans section of this report. The financial result for the year shows a mixed result, as set out below. Net assets InCaSed by £245,000 from £1,862,000 to £2,107.000 as follows: £000 Deficit on ordinary actlvities Investsment gains Surplus on Kaida Increase In net assets (179) 363 245 14
The Museum saw a deficit on its 0Inary activitles (trading results and Museum activities) of £179.000 (2023 - £104,000). In recent years the Trustees have approved a deficit budget while the Museum prepares for Project Kaida and an Investment Reserve of £1 ,000,000 Is maintsined to help to provide Investment income to help sustain these deficits. There were two main reasons for the increased deficit on ordlnary activities. First, the net income from retsil activity fell by £15,000, in part as the heavy management focus of recent years in maxlmising this income stream was redirectsd to finalising preparations for Project Kaida. A reduction in net income from shop and bar sales was only partially mitigated by increased income from gallery sales and events. Second, administratlon expenses increased by £65,000 as the Museum Invested in new people to prepare for Project Kaida. The Museum also set aside a provision for irrecoverable VAT charge while it resolves its VAT status with HMRC; the Museum hopes to release some or all of this provision in the current year. Overall, the increase in operating deficit from last year amounted to £75,000. The Museum has budgeted for a retum to more nomal operating deficlts in 2025. After excluding investment income (induded in the operating result above). there was a gain on investment values of £61,000, which represents a 40/0 return on the opening investment value. After the year, the Museum has suffered a reduction in the value of its investments, in common with many organisations as a result of market turbulence emanating from the new US Administration. The Museum has sought to ringfence funds required for Kaida and its short-temi needs by placlng the requlsite amounts in cash-based accounts. Project Kaida donations recelved of £575,000 in the year exceeded ProJect Kaida expenditure of £205,000 leading to an in-year surplus of £370,000. The Trustees are extremely grateful to all those who have donated so far to Project Kaida and further inf0mtIOn on donations Is given on the Museum's webslte: Pth rkhamuseum.co.u ct-kaida Reserves at the end of the year The net assets at 31 St December 2024 are made up of the following reserves: 31 Dec 24 31 Dec 23 Movement £000 £000 Designated Reserves.. Investment Reserve 1,000 1,000 Development ReseNe Undesignated Resenffjs.. Fixed Asset Reserve 718 348 370 130 General Fund 259 423 164 Total Reserves 15
The Burrna Book Project reserve was created to rlng-fence expendlture and income for a standalone project lo print publish and distribLrte a book. The Investment Reserve was designated some years ago by the Trustees to provide investment income to offset (partially) budgeted deficits while the Museum prepares for Project Kaida. There has been no movement in the year. The Development Reserve is deslgnated to execute Project Kaida. The increase of £370,000 represents the surplus of donatlons received over preparatory expenditure, primarlly professional fees. The fixed asset reserve relates to capital expenditure related to Project Kaida. When such a fixed asset is acquired, the fvll cost is charged to the Project Kaida Reserve on acquisition and an equivalent amount credited to the fixed asset reserve. Each year the associated depreciation expensed from General Reserve is transferred to the fixed asset reserve. This treatment allows the full cost of a capital asset to be charged Project Kaida as Incurred and ensures future depreciation is not charged to General Reserve. The movement in the year relates to deprecJ"ation of Project Kaida assets in the year. The General Reserve comprises all reserves other than those reserves set out above. The reduction in the year of £117,000 is made up of the deficit on ordlnary activities (£179,000) which is partially offset by investment gains of £61,000. In addition, £48,582 was transferred between the General Res8Ne, Development Reserve and Fixed Asset Reserve relating to an adjustment In respect of the prior year and annual depreciation in the year. INVESTMENTS 2024 Investmont Performance 2024 was a posltive year for markets in general and, as a result, the Charity's main Investment Fund in¢ased in value by approximately 5.110/0 (£70,682) to end the year at £1 ,474,893. The two constituent fvnds, namely the BlackRock Anned Forces Charities Growth & Income Fund & the CCLA COIF Charities Investment Fund, both produced a positive contribution with the former outperforning the latter by 3.0 % . The less risky CCLA COIF Charitles Deposit Fund also produced a 5.10 % retum ending the year with a value a of £117,801. The Combined totsl of both portfolios as at 31 Dec 2024 is £1,592,695. 16
STATEMENT OF TrUSTEES' RESPONSIBILITIES The Trustees are responslble for preparing the Annual Report and the financial staternents in accordance with applicable law and United Klngdom Accounling Standards (United Kingdom Generally Accepted Accounting Practlce). The law applicable to charities in England & Wales and Northem Ireland requires the Trustees to prepare financial statements for each financial year which gNe a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial ststements, the Trustees are required to: Select suitable accounting policies and then apply them consistently, Observe the methods and principles in the Charities SORP 2019 and FRS Make judgements and estimates that are reasonable and pnjdent: State whether applicable accounting stsndards have been followed. subject to any material departures disclosed and èxplained in the financial statements; Prepare the financial slatements on the golng concem basis unless it Is inappropriate to presume that the charlty will continue in operation. The Trustees are responslble for keeping proper accounting records that dlsclose with reasonable accuracy at any time the financial position of the charity and en8ble them to ensure that the financial ststements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008, and the provisions of the Trust deed. They are also responsible for safeguardlng the assels of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. DECLARAnON Signature= Name: Martin Brooks Appointment: Chalrman of Trustses Date: I q fk USF 2015 17
Independent Examiner's Report to the Trustees of The Gurkha Museum Trust Independent examinerfs report to the trust885 of The Gurkha Museum Trust I report to the charity Trustees on my examination of the accounts of The Gurkha Museum Trust (the Trust) for the year ended 31st December 2024. ResponsibilitFes 2nd basls of wort As the charity Trustees of the Trust you are responsil)le for the preparation of the accounts In accordance with the requirements of the Charities Act 2011 {'the A). I report in respect of rny examination of the Trust's accounts carri8d out under Section 145 of the Ad and in c2rying out my exam5nation I have followed all applicsble DireGtions given by the Charty Commission under Section 14515){b) of the Act. Independent examlnerfs $tatwnent Since your charity's gross Income exceeded £250,000 your examiner must be a member of listed body. I can confinn that l am qualified to undertake the examinauon because l am a member of the Institute of Chartered Accountants in England and Wales. which is one of the listed bodies. I have completed my examination. I confirm that no materfal matters have come to my attention in connectlon with the 8xamlnation glving me caus8 to belleve that in any material respecL. accounting records were not kept in respect of the Trusl as required by Section 130 of the Act or the accounts do not accord wllh those record8; or the accounts do not comply with the applIble requirements GonMing the form and content of accounts set out in the Charities (Accounts and Reports) RegulatbDns 2008 other than any requirement that the accounts give 8 true and fair view which Is not a matter considered as part of an independent examination. I have no concems and have come across no olhe.r matters in connectfon with the examination to whiGh attention should be drawn in this report in order to enable a proper understsnding of the accounts to be reaGhed. Sarah Alexander FCCA FCA Lewb Brownlee {Chlchester) Llmlted Chsrtered Accoijntants Appledr3rn Barns Birdham Road Chkhester West SUeX P020 7EQ 11.q.I Date: .......
Con501idated Statement of Financlal Activlties for the Year Ended 31st December 2024 24 Total Funds 2023 Totsl Funds INCOME AND ENDOWMENTS FROM Donations and legacies Notes 373,471 73,351 Charitablè activttles Grants received 395,289 331.483 Olher Irading aotivitles 135,068 139.755 229 InVes1nnt income 576 Total 923 EXPENDITURE ON Charftable actfvitlos Support services Tradlng costs 686,601 72,588 454,280 65,934 Total Net gains on Investments NEf INCOMEI{EXPENDrruRE) RECONCIUATION OF FUNDS Total Funds Broh1 FoThvard 245,092 140,812 21 TOTAL FUNDS CARRIED FORWARD 19
Consolidated Balance Sheet 31sl December 2024 21Y24 Totsl Totsl furnls Notss FIXED ASSETS Tangible Flxed Assets 10 138,471 144,520 Investments 11 1,731,166 1.610.394 CURRENT ASSETS 12 13 23,438 17.519 25.910 91.864 Cash at bank and in hand 356 397,590 28&743 CREDITORS Amwrrts falllng due within one year NET CURRENT ASSETS 14 18 91 TOTALASSETS LESS CURRENT LIABIUTIES NEfASSErs FUNDS Unrestrlctsd funds General fund Investments Bumia Book Project fijnd Development fund Fixed asset reserve 15 258,537 1'.000,000 423,322 1.000.000 718,085 71 347.790 TOTAL FUNDS The fjnanc I state ents wer8 approved bythe Board of Truslees and authorised for issue on ifj..L.. . V.2.o25. a nd were signed on ts behalf by: Trust88 20
Charlty Balance Sheet 31st December 2024 2024 2023 FIXEDASSETS Tangible assets Invesbnents 10 11 138,471 144.520 1465 1.731.166 1.610,494 CURREpifASSErs Stod(s 12 13 13,190 87,817 Cash at bank and In hand 336,951 220,917 CREDrnRS Amounts falling due within one 14 17 MET CURRENT ASSETS TOTALASSEfs LESS CURRENT LIABILMES NEfASSETS FUNDS Unrestrfctod funds General fund 16 202.251 1.1))O.(x)o 375.624 1,000,000 Bum)a Book Project fund Developmenl fund Fixed asset reserve 718.086 347,790 90 TOTAL FUNDS The financial statements wer approved by the Board of Trustees and authorised for issue on . and were signed on its behaEf by: Trusts8 21
Consolldated Cash Flow Statsment forthe Year Ended 31st December 2024 2024 2023 Cash flows from operating activities Cash generated from operatlons Net cash provlded byl(used In) operatlng activities Cash Ilows from investlng actlvltles Purchase of tangible fixed assets Purchase offlxed asset Investments Sale of fixed asset Investments (2,119) (432,636) 36 (95.466} (30,759) Net cash provlded by Investlng activities Change In cash and cash equlvalents In the reporting period Cash and cash equivalents at the beginning of the reportlng period Cash and cash equNalents at the end of th& reportlng period 190,684 114,671 51 22
Notes to the Consolidated Cash Flow Ststsment for the Year Ended 31st December 2024 1. RECONCILIATION OF NEf INCOMEI{EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES 2024 2023 Net inGornel{exponditure) for the reportlng period (as per the Statemont of Flnanclal A¢tlvltles) Adjustments for: Depreciation charges Gains on investments Decrease In stocks Decrease l (Increase) in debtors (Decrease) I Increase in creditors 245,092 140,812 8,167 (61,172) 2,472 74,345 4.166 (84.208) 3,540 (45,566) Net cash provided by operatlons 2. ANALYSIS OF CHANGES IN NEfFUNDS At 1.1.24 Cash flow At 31.12.24 Nat cash Cash at bank and in hand 190 35
Notes to tho Flnancial Ststements For the Year Ended 31st December 2024 1. ACCOUNTING POLICIES Basis of preparlng the financlal 8tatom•nts The financlal statements of the Charitable Incorporated Organisatlon (CIO), whlch is a publlc benefft entity under FRS 102 and reglstered wrth the Charity Commission, have been prepared In accordance with Charities SQRP (FRS 102) 'Accounting and Reportlng by Charities: Statement of Recommended Practice applicable to charltles preparing their accounts in accordance with the Financial Reporting Slandard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019),, Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland.. the Charities Act 2011. The financial st8t8ments have been prepared under the historical cost convantion viith the exception of investments which are included at market value, 85 modified by the revaluation of certain assets. Basis of consolldatlon The financial statements Incorporate the results of the Charltable incorporated organisation together with those of tts trading subsidiary Gurkha Museum Enterprlses Limited on a line by line b8SiS. Fund accountlng Unrestrlcted funds are available for use at the discretion of the trustees. In practlcal terms all funds are used solèly for the purpose of maintaining and runnlng The Gurkha Museum and Improvlng display. artefacts, archlves and library. Generdl Funds Includes an investment portfolio and Ihls furKI Is expendable. The Interest from the invested in¢ome and the divid8nds is used as the working capital for the day-to-day operation of the Museum, to indude salaries. It is the Trustees, policy to preserve and increase caprtal for th8 fund so that the interest is able to make up any funding gap created by the withdrawal of MOD funding. It IS the Trustees, alm to build thls fund to a sum where the annual inwme from dfvldends and interest will be sufficient to replace the withdrawal of all MOD funding. Designated funds comprSse unréstricted funds that have been set aside by the trustees for partlcular purposes. The aim and use of each designated fund is set out in the notes to the financlal statements. In¢ome All income is recognised In the Statemenl of Financial Aclivities once the charity has entitlement to the funds, it Is probable that the income will be recelved and the amount can be measured reliably. Raising fund8 Raising funds indudes all expenditure incurred by Ihe charfty to raise fvnds for Its charitable purposes and includes costs of all fundraising actlvltles, events and non<harltable trading. Allocatlon and apportlonment of costs Expenditure is analysed bebNeen charitable support costs, governance and costs of generating funds. Items, which involve more than one cost category are apportloned as appropriate to the cost categorles invofved. Taxallon Trading actlvlty is carrfed out via the Museums, subsidiary, Gurkha Museurn Enterprlses Limited {'°GMEL°). GMEL'S surplus for the year Is transferred to the Museum by a Deed of Covenant and no poratlon tax is payable. Museum actlvlty is accounted for in the Museum's own accounts and as It is a registered charlty no corporation tax Is payable on surplus on charltable activities. Pension cost8 and other post-retlr•mont benefrts The charity operates a d8flned contributlon penslon scheme. Contrlbutions p8yable to the charitrfs pension scheme are charged to the Statement of Flnancial Activltles in the perlod to whlch they relate. 24
Notes to the Flnancial Statements - continued For the Year Ended 31st December 2024 1. ACCOUNTING POLICIES - contlnued Flxed asset roserve The Museum has embarked on a major fund-ralslng programme {'Project Kaida.). Grants and donations appllcable to Kaida are credlted to the DeVelOent Reserve and related expenditure tharged to thls reserve. The full cost of Kaida capltal expenditure is charged to the Dev&lopment Reserve when Incurred and transferred to the Fixed Asset Reserve, In order that the Development Reserve shows the fvll against the capital expenditure In the Flxed Asset ReseNe in accordance with Museum's depreclation policy. Herltage assets The collectlons of the Gurkha Museum predomlnantly consist of donallons which are considered heritage assets under the terms of the Slatement of Recommended Practice as issued by the Charities Comrrsisslon. The heritage assets of the Gurkha Museum have been excluded from the balance sheet due to a lack of valuation, as no fflnancial value has historically, or is currentjy, placed on Items donated to the Museum. Furthermore, in accordance with the Code of Ethics for Museums, to whlch the Gurkha Museum must adhere to as an Accredited M4Jseum, the disposal of any collections cannot be made prindpally for financial reasons. Investments Asset investments are a form of fin8ncial irtstrument and are initially recognised at their transaction cost and subsequently measured at falr value at Ihe Balance Sheet dale. unless the value cannot be measured rellably in which case It is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as 'Galnsl(Losses) on investments, in Iha Statement of Financial Activities. Tanglble flx•d assets Tangible fixed assets are carried al cosL net of depreclatlon and any provlsion for impalmient. Depreciation is provided at rates calculated to wrEte off the cost of flxed assets, less thelr estlmaled resldual value. over their expected useful lives. Depreciatlon Is provided on the following bases: Fixture and Frttings-510 25 years straight line Computer Equipmenl -10 years slraight line Stocks Stocks are valued at the lower of cosl and net realisable value after making due allowance for obsolete and slow-movlng items. Debtors Trade other debtors and prepayments are recognised at the settlement amount afier ary di$Unt offered and net of any provisions for bad and doublful debts. Liabllltles and provision8 Llabllltles are recognised when there Is an obligation at the Balance Sheet date as a result of a past event, It is probable that a transfer of economiG benefit will be requlred In settlement, and the amount of the settlement can be estlmated reliably. Llabilities are recognlsed at the amount that the Gharlty antlcipates it will pay to settle the debt or the amount It has received as advanced payments for the goods or services St must provide. Provisions are measured at the best estlmate of the amounts required to settle the obligation. Where the effect of the Ilme value of money is material, Ihe provision Is based on the present value of those amounts, discounted at the pre-tsx discount rate that refiects lh8 risk sp8clfic lo the liability. The unwinding discounl is recognised in the Staternent of Financial Actlvities as a finance cost.
Notes to the Financial Statsments- continued For the Year Ended 31st December 2024 2024 Group 2023 Group 2. DONATIONS AND LEGACIES Donations Gift Aid Legacies Friends Subscriptions 339.215 8,131 10,250 15 59,318 2,145 3. OTHER TRADING ACTivmES 2024 Group 2023 Grp Admissions Shop income Lectures Bar sales Gallery Hire Archive & Research Burma Book Project Other income Gift shop 19,097 18.243 11,264 16.822 2,700 11.383 6,487 8,000 29,729 2,393 2,248 427 856 4. INVESTMENT INCOME 2024 Group 2023 Grp Dividends and interest receivable 5. INCOME FROM CHARITABLE ACTIVITIES 2024 Group 2023 Gr<)up Grants Actlvlty Grants received Grants received, inGluded in the above, are as follows: 2024 Group 2023 Group Other Grants Salary grant in aid Headquarters Brigade of Gurkhas Grant 302,053 43,236 229,580 51,903 26
Notes to the Financlal Statements - continued For the Year Ended 31st December 2024 6. CHARITABLE ACTIVITIES COSTS Support costs (see note 7) Direct Costs Totals Support Servlces Gfftshop 601,434 72.588 65,167 666,601 72.588 7. SUPPORTCOSTS Governance costs Includ8d in governance Go8ts are Ind6pendenl Examlners fees of £4,000 (2023: £3,900). 8. TRUSTEE'S REMUNERATION AND BENEFrrs There were no trustees, remuneration or other benefits or other benefts for the year ended 31 # December 2024 nor for Ihe year ended 3181 December 2023. Trustee's expenses 2024 Group 2023 Group Trustee8' expenses Trustees, expenses were pald to one trustee in both Ihe Gurrent and previous financlal year. 9. STAFF COSTS {GROUP) 2024 2023 Group Group Wage5 and Salaries Social Security costs Pension costs 315, 976 25,228 299 258.075 19,762 11 The number of employees who recelv8d remuneration amounting to beeen £60,000-£70,000 was 1 (2023: 1). The average number of p8rsons employed by the Gharity during Ihe year was as follows- 2024 2023 Group Group 11 27
Not•s to the Financial Statements- continued For the Year Ended 31st Decembor 2024 10. TANGIBLE FIXEDASSETS (GROUP & CHARITY) Fixtures and fittI[s Computer equipment Totals COST At 1 st January 2024 Additions 164,106 10.647 174,753 119 At 31 st December 2024 164,706 12,166 176,872 DEPRECIATION At 1 January 2024 Charge for year 27,040 3,194 30,233 At 31 December 2024 34,028 4,373 38,401 Net Book Value At 31 December 2024 At 31 December 2023 11. FIXED ASSET INVESTMENTS (GROUP) Listed investments Cash and settlements pending Totals MARKET VALUE At 1 st January 2024 Additions Disposals Revaluations 1,404,211 376,497 (366,988) 61.663 1.465.874 56.138 432.636 (366.988) At 31 December 2024 1.474.893 117,801 1.692,695 NEf BOOK VALUE At 31 December 2024 At 31 December 2023 There were no investment assels outside the UK. 28
Notes to the Financlal Statements - continued For the Year Ended 31st Docember 2024 11. FIXED ASSET INVESTMENTS {GROUP)- Gontlnued Cost or valuatlon at 3161 December 2024 is represented ty- Listed investrnenls Cash and settlements pending Totals Valuation in 2024 FIXED ASSET INVESThIENTS (CHARITY) Shares in group undertaking8 Listed imiestrnents Cash and settlements pending Totals MARKEf VALUE At1stJanu8ry 2024 Addllbns Disposals Revaluatiu 100 1,404,211 376,497 (366,988) 81,172 61,863 56,138 1.465,974 432,636 (366,988) 61,172 At 31 December 2024 1QO 1474 8g3 92 17801 5 NEf BOOKVALUE At 31 December 2024 11x1 At 31 December 2023 The were no investment assels outside UK. 8ubsldiary Gurkha Museum Entarprises Limited (Roglstered Number 13760511) Nature of bu81ness: Glft shop Class of shares Ordinary o holding 100.00 2024 2023 Aggregate capital and reserves Turnover Profit for the year 100 64,856 81.174 29
Notes to the Flnancial Statsments- continued For the Year Ended 31st December 2024 12. STOCKS 2024 Group 2024 Charity 2023 2023 Group Charfty Stocks 13. DEBTORS: AMOUNTS FALUNG DUE WITHIN ONE YEAR 2024 Group 2024 Charity 2023 2023 Group Charity Trade Debtors Other Debtors 3.435 70 1,035 70 4,005 424 VAT Prepayments and acLrued income 31,380 31,380 409 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 Group 2024 Charity 2023 Group 2023 Charity Trade Credltors 3,354 59 10,921 2,734 Taxation and soclal security VAT other creditors 11,910 11,910 35 18,050 11.109 30
Notes to the Financial Ststements- contlnued For the Year Ended 31st December 2024 15. MOVEMENT IN FUNDS (GROUP) Net movement In funds Transfer beiween funds At 31.12.24 01.01.24 Unr•stricted funds General Fund Investments Burma Book Project fund Development fund Fixed Asset Reserve 423,322 1,000,000 (116,203) (48.582) 258.537 1,000.000 {1,898) 363.193 2.700 7.102 347,790 718,085 129 714 TOTAL FUNDS Net movement in funds. included in the above are as follows: Incoming Resour Gains and Resources expended losses Movement in fuThS Unrestri¢t•d funds General Fund Development Fund Burma Book Project fund 352,443 568,418 (529,818) (205,225) 61,172 {116.203) 363,193 Total Funds Cornparatives for movement In funds (Group) At 1.1.23 Net movement in fund Transfer b8tween funds 31.12.23 Unrestrlcted funds General Fund Investments Friends of the Museum Development fund Fixed Asset Reserve 440.111 1,000.000 131.375 149,748 (16,789) 423,322 1,000.000 <131,375) 40,441 157.601 347,790 934 TOTAL FUNDS 31
Notes to the Financlal Statements - contlnued For the Year Ended 31st December 2024 15. MOVEMENT IN FUNDS (GROUP) - continued Comparative net movement in funds, included in Ihe above are as follows: Incoming ReSoUrS Gains and Movement Resources experKled 1055es in fvnds Unrestrlcted funds General Fund Development Fund 364,496 (465.493) 84.208 (16.789) 157601 Total Funds 214 16. MOVEMENT IN FUNDS (CHARrrY) At 01.01.24 Net movernent in funds Transfer bebween funds 31.12.24 Unrestrlctad funds General Fund Investments Burma Book Project Development fund Fixed Asset Reserve 375,624 1,000.LVJO (124.7) (48,583) 202,251 1,000,0(10 {1,898) 363.193 2,7CK) 7,103 347,790 718.086 129 714 TOTAL FUNDS Net movement in funds, included in the above are as follows: Gains and losses Incoming Resources Resources expended Idovement in fund5 Unrestrlcted fund8 General Fund Development Fund Burma Book Project fund 352,043 568,418 (533,005) (205,225) 81.172 (124,790) 363,193 TOTAL FUNDS 32
Notes to the Financial Statements - continued For the Year Ended 31st December 2024 16. MOVEMENT IN FUNDS {CHARITY) - contlnued Comparatlves for movement in funds (Charity) Net movement in funds Transfer ben fvjnds At 3112.23 01.01.23 Unrestricted funds General Fund Investments Friends of the Museum Development fund Fixed Asset Reserve 440,111 1,000,000 131,375 149,748 (64,487) 375,624 1,000,OIXI (131,375) 40,441 157.801 347,7gJ TOTAL FUNDS Comparative net movement in funds, included in the above a as follows: Incomlng Resources Gains and Movemenl Resources expended losses in fijnds Unrestrlctod funds General Fund Development Fund 364,496 (513,191) 84,208 (64,487) Total Funds 33
Notgs to the Financial Statements - contlnued For the Year Ended 31st Decamber 2024 DESIGNATED FUNDS Investments The Trustees agreed to create a fund to gerate invéstment income to support the planned deficits of the charity during the period of major redevelopmenl of the Museum. Dovelopment Fund This fund was created to set aside funds SUfflent to support the major redevelopment of the Museum which is expected to continu8 over a period of years. Friendsfund The purpose of this fund was to set aside monies to 5UPPOrt the replenishing of the Museum's displays and archÈves. As this purpose is similar in nature to the development fund the Friends fund closed in 2023 and the balance transferred to developmenl fund. Bumia Book Project fund Thi5 fund was created to rlngfence expenditure and income for a standalone project to print, publish and distribute a book. The museum receives 10% royalties for each book sale. Flxed asset reserve This reseNe represents the costs incurred on the redevelopment project less depreciation. Expenditu incurred is treated as part of the development fund and then transferred lo thls reserve. 17. RELATED PARTY TRANSACTIONS The trustees have considered related parties and any relevani transactions. The following Infonnatlon is disdosed: Trustee Colonel David Robinson is also a trustee of The Brigade of Gurkhas Education and Welfare Fund, from which. grants totalling £123.579 were received during the year. He is also a trustee of the Royal Gurkha Rffles Regimentsl Trust from whom a donation of £500 was received. Truslees Colonel Williarn Shuttlewood and Major John Harrop are truslees of the 2nd King Edbvard Own Goorkhas (The Sirmoor Rrfles) RegimenLql Trust, from whom a donation of £28,442 was received lowards Project Kaida. Truslee Major John Harrop made donations tolalling £200. Trustee Mr John Bulbeck is also a Trustee of the Th Duke of Edlnburgh's Own Gurkha Rffles Regimentsl Trust from whom a donation of £30,0(K) was received towards project Kaida Mr Steve Maslin made 8 donation of £200 in the year. Trustee Mr J BulbeGk and Dr D G Bowyer, SeGretsry and Museum Director. bolh donated £100 to Ihe museum during the year. 34
Detailed Ststement of Financial Actlvities For the Year Ended 31st December 2024 2024 2023 Group Group INCOME AND ENDOWMENTS Donatlons and legacles Donations Gift aid Legacies Friends Subscriptions 339,215 8,131 10.250 59,318 2,145 373,471 73.351 Olher trad ing actlvltles Admissions Shop income Lectures Bar sales Gallery Hire Archive & Research Burma Book Project Other income Gurkha Museum Enterprises trading actwities 19.og7 18.243 11.264 16.822 2.700 11,383 6.487 8,000 29.729 2,393 2,248 427 135,088 139,755 Investment incomo DNidends and Interesl 19,281 32, Charltabla actlvltles Grants 331 Total InrnIng resources 923,109 576.818 EXPENDrruRE Charitable actlvlties Support Service5 Trading Costs Gurkha Museum Enterprises trading (x)sts 601.434 393,804 48,776 674,022 459,738 Support costs GovemanGo costs Trustees. expenses Officeand administration ottr*r meeting costs Proports'on of Directorfs salary Audlt & Accountancy 140 3,683 32.500 5,559 32,5 65.167 60,476 35
Detailed Staternent of Financial Activlties For the Year Ended 31st December 2024 2024 2023 Group Group Totsl resources expended 739 189 520 214 Net incomel(expenditure) before galn8 and 108ses 183,920 Net gains on flxed asset investments Not Incomel {8xpendlture) 36