Cornwall's Regimental Museum CIO Trustees Report and Financial Statements for the Year ending 31 December 2024 Charity Number 1174375 The Trustees are pleased to present their annual report, together with the consolidated financial statements of the charity, for the year ending 31 December 2024. The financial statements comply with the Charities Act 2011 and the Charities SORP IFRS 102) together with Update Bulletin 2. Names of the Charity Trustees who manage the charity Mr Peter Champness - Chalr Col Sir Edward Bolitho (President) Mrs Sarah Fitzgerald Lt-col Richard Trant Mr5 Harriet Hills Mr Daniel Brinson Mr Charles Edward-collins (Resigned 18104/2024) Brig Gage Williams (Resigned 18104/2024) Mr Andrew Harbert (Joined 11105/2023} Mr Anthony Scott-Hopkins (Co-opted 201712023 Resigned 06/05120241 Structure, Governance and Management The charity was registered in 2017 and began operating in January 2018, taking over from the former unincorporated Charitable Trust of the same name. It Is constituted as a Charitable Incorporated Organisation (CIO) and Is governed by a deed. New trustees are selected by the current trustees of the charlty. The day-to-day management of the charity is undertaken by the Director who is paid from the CIO'S own funds. The Collection5 and Operations Manager is part-funded by Grant-in-Aid from the Ministry of Defence IMOD) to care for the museum collection. A further three full-time posts are funded through grants and Income generated through museum activlty. Chalrfs Introductlon Full details of the charity's purposes, maln activities. achievements and performance are set out In the report below. Our Charitable Purposes The purposes of the charity are: Page l of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
To be the authority on the history of The Duke of Cornwall's Light Infantry, its antecedent and successor units, particularly The Light Infantry, the Cornish Militia and Volunteer units. To sustain and develop a first class museum that educates, entertains, inspires and contributes to the wellbeing of the local community. To advance the education of the public in general on the subject of Cornish, British and International Military History by the maintenance of and improvements to, Cornwall's Regimental Museum and its associated Memorials. To provide the relief of financial hardship among the retired members and their immediate families of The Duke of Cornwall's Light Infantry by the provision of grants for goods and services which they otherwise could not afford through lack of means. The trustees recognise that the charity must report each year on how they have carried out their charity's purpose for public benefit. In shaping our objectives for the year and planning our activities, the trustees have considered the Charity Commission's guidance on publlc beneflt. The Trustees belleve that purposes satisfy both elements of the public benefit requlrement. The direct benefits are as follows: (a) Maintaining a collection and permanent display of artefacts and objects to preserve Cornish, British and International Military history for public enjoyment. Ib) Providing a space for public to research Cornish, British and International Military History. {cl Promoting the history and information about Cornish, British and International Military History, sharing stories about the people who lived there through artefacts and objects. This is done through permanent and temporary displays at the museum, occasional displays in the community, regular articles in local publications, information and blogs on the museum's website, sharing archive photographs through social media, special event days, talks on local history and guided walks around the town. (d) Providing educational space for schools and children to learn about the history Cornish, British and International Military History. Our learning programme includes workshops linking to the national curriculum on site at the museum. Our programming for local families in school holidays also encourages visits to the museum and shared information about local history and people. Our Maln Actlvities A brief summary of the main activities normally undertaken by the charity to carry out its purposes for public benefit is as follows: To open the museum on average 6 days each week, making our collection readily available to the visiting public To develop the museum's collection and displays for the public benefit To actively encourage and continue to develop visits by school groups and young people to the museum To provide a high-quality research service for the public To plan and raise funds to sustain and develop the buildings and work of the museum to support its long-term susta i nability Page Z of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Achievements and Performance in 2024 Structural issues with Bodmin Keep led to the closure of the museum in August 2024. casting a long shadow over the museum operation despite a positive start to the year. By late Autumn, the museum had pivoted its operation." delivering learning and engagement sessions in schools and alternative venues; taking a 'pop-up' museum to community events and exhibiting the collection offsite. Volunteerlng activities focused on research and maintenance projects. In thi5 way the museum has continued to deliver its mission, albeit with a renewed emphasis on managlng costs. Cornwall's Regimental Museum CIO 15 the 501e tenant of Bodmin Keep and has a lease from the Ministry of Defence which expires in 2050. The MOD takes a reactive approach to repairs and as a non- operational site, Bodmin Keep has not been a priority for investment during the tenancy of the CIO. Evidence of cracking in sUPPOrting beams had been reported during the MOD quadrennial inspection of 2020 and led to further inspections in 2022 and 2023. A full structural appraisal was recommended in March 2024 and completed in July 2024. As a result of this report, the building was declared unsafe and the museum closed on 10 August 2024. VIVO Defence contractors have propped the building extensively to ensure it is safe. It was initially hoped that the building would re-open in Spring 2025 but this has not transpired. Cornwall's Regimental Museum CIO has been working with Army Infrastructure since 2022 to explore the option of the museum CIO takin8 ownershlp of Bodmin Keep with the provision of funds to carry out the backlog of repairs of the building. This would enable the CIO to secure external funding for the upgrade of the building to be both fit-for-purpose to preserve the museum's collection and archive and provide the facilities the public expect of a twenty-first century museum. This proposal was approved at the Army Heritage Committee in October 2024 with a desire to see the museum 'survive and thrive,. The closure of the Keep has created a significant obstacle to achieving thls plan and lent a greater urgency for a resolution to discussions about the building's future. Visitor Number5 Comwall's Regimental Museum CIO achieved 3516 visitors in the year to 10 August 2024 and was open for 110 days. 379 school children took part in learning activities in schools although this improved significantly a5 It became clear that we would not be able to re-open in Spring 2025 and school groups that had postponed visits, re-engaged. 637 young people took part in out of school hours activities. 2903 people were reached through our community programme. Our 43 volunteers contributed 1,130 hours work to the museum. Programme highlights Highlights of the programme include a talk by historian James Holland to raise funds forthe museum. th The 80 anniversary of D-Day was marked with a seniice of remembrance led by the DCLI, SCLI, Ll and The Rifles Association. Bodmin Keep received coverage on ITV SW New5 and BBC Radio Cornwall for its historic role during preparations for Operation Overlord. The exhibition Carclew.. A House at War launched in June, assessing the preparations for D-Day in Cornwall with a focus on events at Carclew House, one of many country houses requisitioned by the military. Page 3 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Exhibitions. Collections and Archive Over the past year the museum has produced new exhlbitions and displays; developed partnerships with other instltutlons, expanded the collection and improved the documentation and management of the collection and archive. The museum received an Arts Council England 'Unlocking Collections, grant in May 2023 to catalogue the Light Infantry archive and redisplay the Northern Ireland galleries. In February 2024, the museum's Director, Helen Bishop-stephens and newly recruited As515tant Curator, James Inglis visited Belfast and Derry-Londonderry to research exhibitions about The Troubles at the Museum of U15ter, The Tower Museum, Free Derry Museum. The Assistant Curator also Vlsited The Linen Hall Library in Belfast and Dublin Castle and National Museum of Ireland-Decorative Arts & History, Dublin as part of this research. These research visits were made possible by a Jonathan Ruffer Foundation Curatorial grant. The new exhibition on the Army during the Troubles will explore the experiences of soldiers through objects from the collection, the Light Infantry photo archive and oral history testimonies from members of the Light Infantry. The exhibition will also examine the impact on communities in Northern Ireland both during military operations from 1969 to 2007, and the resonance of The Troubles todav. A local artlst-photographer was commissioned to create exhibition visuals from the archive and funded to carry out research in Belfast in July 2024 to generate new material for the exhibition. In October 2024 we contracted the design the exhibition. Further oral history recordings of veterans took place in November and December 2024, in partnership with the University of Plymouth. In October 2024 designers AF58 Associates were commissioned to design the redisplav. In addition to this work, the Assistant Curator produced the exhibition: Carclew.. A House at War about preparations for D-Day in Cornwall with a focus on event5 at Carclew House, one of many country houses requisitioned by the military. This was a truly collaborative effort with advice and support from the Director, Trustees, Staff and Volunteers essential to the tlmely completlon of this project by June th 6, 2024, to coincide with the 80 anniversary of D-Day. Work on displays and exhlbltions contlnued following the closure: student interns from the University of Plymouth developed a mini- exhibition using objects and documents from the museum's collection and archive. The display opened at the University's Charles Seale-Hayne Library in November 2024 and was well received. Future student collaborations are planned to help research Bodmin Keep's collection and archives. In June 2024 the museum acquired a Ferret Mark11 Scout Car from Royal Military Police Museum which has been extensively repaired through the efforts of a team of six volunteer5. Other significant acquisitions a scrapbook chronicling the early days of the British Army's deployment in Northern Ireland and a collection donated by the family of Major Hugo White, the museum's founder. In January 2024 Heather Lomas, Collections Officer of the Marylebone Cricket Club Museum, carried out a Collections Audit pro bono. We are grateful to the MCC Museum for it5 generous support. The first improvements made as a result of the audit were an update of procedures for cataloguing the collection: recording when objects are moved to provide a clear audit trail and adding photos and measurements to catalogued items to help with their identification. Page 4 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
The Collections Development Policy was reviewed by the Collections & Operations Subcommittee updated to include items relating to Cornwall and the Civil War. Education and Outreach Schools The schools programme attracts a slgnificant number of repeat visits but in 2024 attracted two new primary schools and two new secondary schools early in the year. One new group from Landulph Primary School gave the following feedback: The day was engagingj informative and very well organlsed. The chlldren absolutely loved it and haven't stopped talking about and reftrenclnq In their work all of the activities they did. We wlll definltely be booklng another visltfvr next year., Following the closure of the museum, Leah Mason, Learning Manager and volunteers designed new sessions to be delivered in schools. This included an immersive carousel-style workshop that covers life on the Home Front and an object-handling 'lnference and Deduction, session. 379 pupils took part in a museum schools, session in 2024. In March local artist Fran Rowse, and three female students from the North Cornwall Wave Academy worked on a new project, Military Maids which revealed the 'hidden' stories of women from our archives and museum collections. Each week, the students explored documents from the archive to highlight some of the roles taken on by women during war. Using the new ski115 learned during the sessions, the students created pieces of artwork inspired by the archives before creating an exhibition of their work and previously unseen archive materials. This project was funded by Cornwall Community Foundation. Informal Learning Holiday activlties includlng Portralt mlnlatures, perlscope makin8, sword decorating, Trench talks, D- Day themed activities were delivered to 650 prlor to the museum closure In early August. We also welcomed re-enactment groups including, The Home Front Kitchen Girls, D-Day Dodger5, Dr. Stuart Clarke and 32nd Regiment of Foot. Community Engagement 92 scouts and girl guides engaged with the museum over the year in workshops about Remembrance, the Second World War in Cornwall and guided tours. In April the museum took part in 3 town-wide Spring Trail organised by Into Bodmin. This included hosting a 20-minute performance from local dance group, KBSK. A pop-up museum at the KBSK family day in August, in Priory Park was attended by over 1200 people. The Learning Manager created a D-Day-themed pop-up museum and in June this was presented at the Royal Cornwall Show a5 part of Army Engagement's Military Village and at the Wadebridge Party in the Park to commemorate the 80th anniversary of the D-Day landings, reaching over 1600 people. The D- Day 'pop-up' also visited Falmouth Week and Duchy College Callington's Community Fayre. Page 5 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
In the Autumn the museum took part in Fun Palaces at Into Bodmin running a free screen-printing workshop and in December took part in the Christmas Tree Festival and ran a pop-up museum at the town's Christmas market in which over 80 families participated. A new partnership with a local care home has been established and in November sensory and reminiscence sessions engaged residents who range in age from 18 to 99. Careers Pathways and Skills Tralnlng The first Young Collectorfs Club launched in April 2024. Young Collectors aims to provide a welcoming space for young military memorabilia enthusiasts to show case their personal collections to the public, whilst meeting other like-minded people to share their interests and knowledge. This session involved three young collectors (aged 13-16) who offered members of the public an opportunity to handle the artefacts (uniforms- weapon5 etc) on display. The feedback from the parents of the young collectors at the end of the session was also positive. Two of the young collectors are school refusers and both suffer with extreme social anxiety. Their parents commented on how important these types of events are for the building their confidence and social skills. Thi5 was evident not only In their engagement with the public, but in their Interactions with each other. SIX students aged 14-18 participated In the 8-week Young Curator's Course. During the placements students engaged in activities centred around conservation- including object cleaning, label writing, preparing and creating social media content in-line with current trends and putting together a temporary display of First World War handling items in the Serjeant's Mess. The museum provided five work experience placements for students aged 14-17. Vlsltor Services & Operation5 The museum invested In a shooting range simulator which proved popular with vlsltors and new external signage to improve visibility of the museum at street level. Fire safety training was provided to staff. A Health & Safety Manual wlth policies and procedures has been produced by Gabrielle O'connor, Visitor Services & Operations Manager. Three members of staff received First Aid training, Environmental sustainability measures were reviewed and improved during the year with the VSOM undertaking Carbon Literacy training. An employee handbook and review of HR policies and procedures was completed. Staff There were a number of staff changes during the year. James Inglis was recruited as Assistant Curator and joined the CIO in February. Rob Phillimore left his post as Marketing Manager in February to become freelance. The Marketing Manager role was ably covered by Arwen Fitch from March until October, when the likelihood of a prolonged closure became apparent. Tina James joined the museum as Administrator in May to provide HR, finance and governance sUPPOrt to the Director. Page 6 of ZO Cornwall'5 Regimental Museum CIO Annual Accounts 2024
Trustees wish to record their thanks to the staff team who have remained steadfast in their commitment to the museum during a prolonged period of uncertainty and upheaval. DCLI Welfare and War Memorials Bodmin Keep's Grade Il. war memorial was dedicated on 17 July 1924. To mark the centenary, the memorial was cleaned by DCLI, SCLI, The Light Infantry and The Rifles Association volunteers under the dlrection of Military Grave Restorer CIC. New gravel was provided by local businesses RGB Supplies and Keyline Civils Specialists. The museum provided funds from its Reserves for this work and to re- paint the lettering of the dedication on the DCLI memorial plaque by a specialist heritage sign-writer. There was no expenditure under the charitable object to provide the relief of financial hardship among the retired members and their immediate families of The Duke of Cornwall's Light Infantry. Rlsk Management The trust maintained its risk register which was reviewed quarterly at trustee meetings. Page 7 of ZO Cornwall's Regimental Museum CIO Annual Accounts 2024
Financial Review Results for the year Cornwall's Regimental Museum CIO ended 2024 with a small deficit of -£7,184 {2023 Surplus £21,518). Majority of this was due to the museum requiring to close for significant structure repairs. This resulted in no ticket admissions & shop sales while the museum remained closed. The unrestricted deficit for the year was £37,90112023 surplus £102). Total funds at 31 December 2024 were £290,795. Of thi5, £67,203 were held as restricted, £128,262 as Designated funds and £95,330 of undesignated, unrestricted funds. Income In 2024 was £249,701, whlch was a 6% decrease on 2023. The majority of this was due to the museum c105ure with 42% reduction in admissions and 47% reduction in shop sales & room hires. Expenditure on operating the museum Increased by 3% from 2023, the majority of this being related to the Increase In grant project spend. Finance, Investments and Reserves The value of our Investments at 31st December 2024 was £149,46212023 £150,488). These funds were invested via brokers Walker Cripps. Reserves policy It is the duty of the Trustees of CRM to manage the charity's reserves. The reserves policy is reviewed annually by the Trustees. The charity is responsible for:. •The Museum (CRM) • The DCLI memorials The DCLI veterans welfare In summary, the followlng amounts are designated from the reserves:_ DCLI Veterans welfare £14,131 War Memorials maintenance and repair £14,131 Museum - 18 month's shortfall in running costs £lOO,000 Total Designated costs for 2024 - £128.262 At 31 December 2024 the charity's reserves totaled £290,795. Of this, £67,203 were held as restricted, £128,262 as Designated costs and £95,330 of undesignated, unrestricted funds, meeting the charity'5 reserves policv. Page 8 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Statement of Trustees, Responsibilities The Trustees are responsible for preparing the Trustees, Annual Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice). The law applicable to charities in England & Wales/Northern Ireland requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and appllcation of resources of the charity for that period. In preparing these financial statements, the trustees are required to: select suitable accounting policies and then apply them consistently; observe the methods and principles in the Charities SORP 2015 and (FRS 102; make judgements and estimates that are reasonable and prudent; State whether applicable accounting Standards have been followed, subject to any material departures disclosed and explained In the financial statements; prepare the financial statements on the 80ing concern basis unless it is inappropriate to presume that the charlty will contlnue in operation. The trustees are responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial p051tion of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charlty (Accounts and Reports) Re£ulations 2008 and the provisions of the trust deed. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps forthe prevention and detection of fraud and other irregularities Approved by the Board of Trustees on and signed on its behalf by Mr Peter Cham ness Chairman Page 9 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Inde endent Examiner's re ort to the trustees of Cornwall Re imental Museum CIO I report to the trustees on my examination of the financial statements of Cornwall's Regimental Museum CIO ('the charity,) for the year ended 31 December 2024, which are set out on pages 11 to 20. Responsibilities and basis of report As the charitWs trustees you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 {'the Act,) Having satisfied myself that the accounts of the charity are not required to be audited and are eligible for independent examination, I report in respect of my examination of the charity's accounts carried out under section 145 of the Act. In carrying out my examination I have followed all the applicable directions given by the Charity Commission under sectlon 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 connectlon wlth the examlnation giving me cause to believe that in any material respect: l. accountlng records were not kept In respect of the charlty as requlred 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) Re8ulations 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 matter5 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 bere Mandy French FCCA Westcotts (SW) LLP 30 St Peters Street Tiverton Devon, EX16 6NR 2 July 2025 Page 10 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Cornwall's Re imental Museum CIO Financial Statements for the Year endin 31 December 2024 Chari Number 1174375 Statement of Financial Activitles Incorporatlng an Income and Expendlture Account for the Year Ending 31 December 2024 For the year endlng 31 December 2024 Unrestrlcted Funds Restrlcted Funds Total 2024 Total 2023 Notes Income: (See nots 161 Donatlons and le8acles Income from Charltable actlvltles Investment Income Fundraising & trading Income 24,622 107,120 5,935 6,053 1,000 104,971 25,6Z2 212,091 5,935 6,053 17,632 229,657 5R56 11,993 Total 143,730 105,971 249,701 265,139 Expendlture on: Costs of ralslng f und5 8,628 8,628 2,812 Expendlture on cha rltable activities 171,143 76,663 247.806 240,800 Total 179,771 76,663 256,435 243,612 Net Income/{Expendlture) Unreallsed Galns/lLossesl Transfers between funds (36,041) 14501 (1,409) 29,308 (6,734) (450) 21,527 {91 1,409 Net Movement in Funds 137,9011 30,717 17,184) 21,518 Fund balances brought fotward 15 261,493 36,486 297.979 276,462 Fund Balance5 223.592 67.203 290.795 297,979 The notes of pages 13 to 20 form part of these accounts. Page 11 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Cornwall's Re imental Museum CIO Balance Sheet as at 31st December 2024 Notes 2024 2023 Flxed assets: Tan8lblo assets Investments 13.525 149.462 14,873 150,488 Current assets: Debtor5 Stock Prepayments Cash at bank and in hand 1.102 14,455 6,800 115,093 137,450 27,626 io 106,866 134,492 Llabllltles: Creditor5: Arrounts falling due wlthln one year Net current assets li 16,685) 127,807 14,8321 132,618 Total assets less current Ilabllltles 2,795 297,979 Fund5 Unrestrfcted fund$ Desl8nated funds DCLI Veterans W4rMemorSals Operatlng reserves Totsl Deslgnated Funds Ganernl Funds Total Unregtrfcted fund5 Restrlcted funds Cash Funds Fixed Assets Total R•rtrlcted Funds 14,131 14,131 loo,000 128,262 95,330 223.592 15,000 15,000 loo,000 130,000 131,493 261,493 12 54,454 12,749 67,203 22,826 13,660 36,486 Total 290,795 297,979 The notes of pages 13 to 20 form part of these accounts. The financial statements were approved by the Board of Trustees on and signed on its behalf by: 2¢Is- PaEe 12 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the ear ended 31 December 2024 I. ACCOUNTING POLICIES General Information The Charity constitutes a public benefit entity as defined by FRS102 and is a registered charity in England and Wales. The address of the charity is The Keep, Victoria Barracks, Bodmin, PL31 IEG. Statement of Compllance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the 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 (FRS 1021{issued in October 20191 (Charities SORP {FRS 102)) and UK Generally Accepted Accounting Practice. Basls of Preparatlon The flnanclal statements have been prepared on the hlstorlcal cost basis, as modified by the revaluation of certain financial assets measured at fair value through income and expenditure. The flnanclal statements are prepared In sterllng, whlch Is the functlonal currency of the entlty. Income All income resources are included on the Statement of Financial Activities when the charity is legally entitled the income and the amount can be quantified with reasonable accuracy. Expendlture Expenditure Is accounted for on an accrual basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular heading5, they have been allocated to activities on a basis consistent with the use of resources. Grants offered subject to conditions which have not been met at the year end date are noted as a commitment but not accrued as expenditure. Cash Flow Statement The Trustees have taken advantage of the exemption under Charitles SORP {FRS102) from Includlng a cash flow statement in the financial statements on the grounds that the charity is small. Tanglble flxed assets Depreciatlon Is used to write off each asset over Its estlmated useful life. Fixed assets are depreclated as follows:. IT equlpment Office Fixtures & fittings Dlsplay Cases 25% per annum on costs 25% per annum on costs 5% per annum on costs Item5 With cost price of £500 and above will be included in fixed assets. Taxatlon The charity is exempt from corporation tax on its charitable activities. Page 13 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 20241continued) Fund accounting The unrestricted fund has arisen through general fundraisin& unrestricted donations and surpluses from pursuing the charitvs objectives. Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified bythe donor or when fund are raised for particular restricted purposes. The cost of raising and administering such funds are charged against the specific fund. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. 2 t>onatlon$ and Le8acles Z024 Restrlrted Funds TOTAL2024 2023 Unre5trlrted Donations 19,545 3,748 1,328 24,622 I,coo 20,545 3,748 1,328 25,622 14,438 703 Gift Aid Second hand books and refreshments 2,491 17,632 3 Income from Charttable Acthiltles Unrestrlcted Funds Restrlcted Funds TOTAL 2024 2023 Admlsslons Learnlng Income 21,659 2,376 21,659 2376 37,363 6,844 Grants AIM PIIBrlm Trust Fund Art5 Councll Unlocklng Collectlons Grant Bl8 Ideas Company Cornwall Communlty Foundatlon Carew-Pole Trust Milltsry Mald Cornwall Councll- Communlty CapacSty Fund Cornwall Councll small gr?nts Cornwall Communlty Fund The Trench Project Cornwall Communlty Foundation- 8ulldin8 Survey Cornwall Museums Partnershlp CreatSve Kernow Ltd- Development Project Imperlal War Museum MOD GIASalary MOD Armed Forces Day PK Porthcurno Museum of Global Communications 3,805 37,616 IDJ 2,OthJ 31,722 3,805 37,616 499 44,771 2,OQ) 31,722 2,500 2,500 2,500 2,500 41,298 1,000 1,472 29,685 5,335 60,(XJO 24.728 24,728 80320 80,920 Total Grants 80,920 104,971 185,891 184,260 Events Other Events 2,165 2,165 1,190 Totsl incorne from charitable acttvitles 107,120 104,971 212,091 229,657 4 Fundralslng and tradlnl Income Museum Shop Sales Room Lettings 4334 1219 6.053 9,093 2,0 11,993 L219 053 Page 14 of 20 Cornwall'5 Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (continued) 5 Total Expenditure Analysls of expendlture on charltable activities 2024 Restrirted Funds Unrestricted Funds Total 2024 2023 Armed Forces Day Arts Council - Unlockingcollections AIM pllgrims Trust Cornwall Council - Capital Project IWM Project Carew-Pole Trust Mllltary Maid Cornwall Communlty Fund The Trench Proje( Wadebridge Rotary War Memorial Collectlons Learnlng Expendlture Other Events 3,975 13,198 23,147 2,487 11,869 23,147 2,487 11,869 3,877 3,409 1,866 3,409 1,866 675 675 1,738 6,301 1,339 1,738 6,301 1,339 7,599 2,770 250 31,668 10,054 42,777 52,831 Shop Shopify Charges Retail equipment Stock Purchases Total Shop 649 649 647 882 1,621 5,281 7,548 2,047 3,579 2,047 3.579 Staff Costs 108,785 47,111 1,615 32,975 911 141,760 48,022 1,615 159,526 40,513 1,544 Support Costs Govemance Total Expenses 171.143 76.663 247,806 240,800 Anatysls of support and 8overnance costs General Govemance Restrl¢ted 20Z4 TOTAL 2023 Basis 95% Administration Depreclation End ofYearAccounts Independent Examlnatlon Marketing & Publiclty Premises 20,999 437 1,105 22,104 21,886 1,348 1,445 160 150 350 300 24.959 14,382 716 3.894 ws% 911 160 350 24.959 716 IWY6 Total expendlture 47,111 1,615 911 49,637 42,057 Page 15 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (continued) 6 Net Income for the year This is stated after Charglng:" 2024 2023 Depreciation 1,348 1,445 7 Staff Costs and numbers 2024 2023 Salarles & Wages Employers Natlonal Insurance Penslons 132,400 6,607 2,753 141,760 149,872 7,207 2,447 159,526 The charity had an average of 6 employee5 during the year (2023- 71 The average number of employee5 during the year were calculated on the basis of average monthly head count. No employee received employee beneflts of more than £60,000 durlng the year12023: Nill. Tangible fixed assets Netherfleld Dlsplay Cases D15play Cases IT Equlpment Total Cost At start of year Additions Disposals At the end of year 18,215 3,176 21,391 18,215 3,176 21,391 Depreclatlon Atstart ofyear Charge for year Di5POsa15 in year 4,555 911 1,963 437 6,518 1,348 Atthe end of year 5,466 2,400 7,866 Net value at End of 2023 13,660 1,213 14,873 Net book value at year end 2024 12.749 776 13,525 Page 16 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (contlnuedj 9 Investments 2024 2023 Walker Crips 149,462 150,488 Total Investment5 149,462 150,488 Investments are shown at market value at year end 10 Prepayments & Accrued Income 2024 2023 Shopifv Accrued Income 762 6,038 Total 6,800 11 Credltors 2024 2023 Trade Credltors Taxand Nl 2,526 2,884 I,oii 3,032 339 Pensions Other Credltors 765 Accrued Expenses Independent Examlnatlon Accounts Preparatlon QuickBooks Subscrlptlon Total Accrued Expenses 350 160 300 150 510 450 Total 6,685 4,832 Page 17 of 20 Cornwall's Reglmental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (continued) 12 Restrlcted Funds 31$t De¢ 23 Income Empendlture Trnhsfe 31st Det 24 Flx•d Assets Slrjohn Moore Room IDepredoElonl 13,660 19111 12,749 Cash funds Arts Councll - Unlocklng collectlons Cornwall Council Comrnunity Capacity Fund AMOT- Collectlons Manager IGIA grant) AIM Collection Care Cornwall Communlty Foundatlon- Bulldlng Survey Cornwall Community Foundation-The Trench Cornwall Community Foundation Carew-Pole trust Military Malds Bi8 Ideas Rotsry Club Wadebrldge 21826 37,616 31,722 24,728 3.805 2,SOO 2,5C 2.000 loo 1.00) 131,3931 111,8691 124,7281 114871 29,049 19,8S3 1.318 2,500 634 11,8661 13,4091 loo 1,000 22.826 105.971 175,752 1,409 $4.454 Totals 36,486 105,971 176.6631 67.203 AIM Pilgrim Trust Fund granted £7,610 toward5 the costs of packlng the collections during the urgent structural works in October 2024. Arts Council England Unlocklng Collectlons grant £89,541 towards the costs of Unlocklng the Llght Infantry Archive., 1968-2007. This project will catalogue the Light Infantry Archlve, create an archive of oral history recordings and a new permanent exhibition about Operation Banner: The Light Infantry in Northern Ireland. Big Ideas grant was a facilitation fee to screen the film Remember Together: Nuclear Test Veterans Cornwall Community Foundation/Carew-Pole Trust awarded £2000 towards the costs of an arts education project called 'Mllltary Mald5' about women's role in the Army with girls from North Cornwall Wave (Alternative Provision) Academy who are excluded from mainstream education Cornwall Councll's Community Capacity Fund refers to the Good Growth Cornwall & Isles of Scilly Shared Prosperity Fund Communlty Capaclty Fund which awarded the museum funds for a fea51bility study and concept designs (RIBA 0-21 and building condltlon survey, conveyancing and building services survey for Bodmin Keep. Cornwall Community Foundatlon/Phoenlx Tanner Trust awarded £2500 towards the refurbishment of 'The Trench, Installation used In schools sessions and learning activities and £2500 towards the cost of the building condltlon survey. The MOD awards the museum grant-in-aid towards the salary of the Museum's Asslstant Curator to care for the regimental collection. Page 18 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (continued) 12 Prior year ¢omparative5 Restrlcted Funds 31st D8¢ 22 In¢ome Expendlture 315t Dec 23 Flxed Assets Sirjohn Moore Room IDtpredotiohl 14,571 19111 13,660 Cash funds AMOT- Collectlon5 Manager Cornwall Council Imperial War Museum AIM Pllgrlm Trust Fund Anned Forces Day Creatlve Kernow Ltd - Development Project Arts Councll - Unlockin8 Collectlons NPO Relmbur5ement 29,685 200 129,6851 12Tr)1 11,4721 14991 15,3351 11,5001 121,9451 1101,2981 1,472 499 5,335 1,000 44,771 101,298 500 22,826 soo 184,260 161,934 22,826 Totals 15.071 184,260 162,845 36,486 13 Net assets by fund Unre5trlcted funds Restrlcted funds Total 2024 Tan8lble assets Current assets Current Liablllties Net Assets 150,239 78,467 15,1141 223,592 12,749 56,025 11,571) 67,203 162,988 134,492 {6,6851 290,795 Prk)r year comparatives Unrestrfcted funds Restrlcted funds Total 2023 Tangible assets Current assets Current Llablllties Net Assets 151,700 114,624 14,8321 261.492 13,660 22,826 165,360 137,450 (4,8321 297,979 36,486 14 Trustee Information Trustees remuneration and expenses The trustees received no remuneration, except for travel and 5ubsi5tence to meetings, there were no trustee expen5e5 paid in the period ended 31 December 2024. (2023- Nil) 15 Related party transactions There were no related party transactions. (2023- Nil) Page 19 of 20 Cornwall's Regimental Museum CIO Annual Accounts 2024
Notes to the Accounts for the year ended 31 December 2024 (contlnuedj 16 Statement of Financial Activities Incorporating an Income and Expenditure Account for the Year Ending 31 December 2023 For the year ending 31 December 2023 Unrestrlcted Funds Restrlcted Funds Total 2023 Notes Income: Donations and legacies Income from Charitable activities Investment income Fundralslng & tradlng income 17,632 45,397 5,856 11,993 17,632 229,657 5,856 11,993 184,260 Total 80,879 184,260 265,139 Expendlture on: Costs of ralsln8 funds Expendlture on charitable actlvitles 2,812 2,812 77,955 162,845 240,800 Total 80,767 162,845 243,612 Net Income/(Expendlture) Unrealised Gains/lLossesl iii 21.415 21.527 {9) Net Movement In Funds 102 21,415 21,518 Fund balances brought forward 15 261,391 15,071 276,462 Fund Balances 261,493 36,486 297,979 Page 20 of 20 Cornwall's Reglmental Museum CIO Annual Accounts 2024