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2024-03-31-accounts

SENHOUSE MUSEUM TRUST

Charitable Incorporated Organisation Charity No. 1175131

ANNUAL REPORT

to

31 March 2024

Charity no. 1175131

1

ANNUAL REPORT for the year ending 31 March 2024

A. LEGAL AND ADMINISTRATIVE INFORMATION

THE SENHOUSE MUSEUM TRUST was constituted as a charity on 12[th] April 1985 by Declaration of Trust and converted to a Charitable Incorporated Organisation on 12 October 2017

Trustees at 31[st] March 2024 Dr. Peter Richard Wilson - Chairman of the Trustees William Bernard Griffiths Roderick Grimshaw Eleanor Kingston Dr. Peter Messenger Rachel Margaret Newman

Treasurer: N. Randall Clerk to Trustees: M.A. Lancaster

The Trust Deed provides that the Trustees can appoint new Trustees and officers and establish committees.

Principal Office Senhouse Roman Museum, The Battery, Sea Brows, Maryport, Cumbria, CA15 6JD. The Trustees have appointed professional service providers and advisers, as below: Bank HSBC Bank plc, 3 Pow Street, Workington, Cumbria, CA14 3AH. Solicitor Cartmell Shepherd, Solicitors, Montgomery Way, Rosehill, Carlisle, Cumbria, CA1 2RW. Independent Examiner Tattersall Bailey Chartered Accountants, 3 Fisher Street, Carlisle, Cumbria, CA3 8RR. Investment adviser Alington Ruthin Stockbrokers & Investment Management, Clwyd House, 3c Clwyd Street, Ruthin, Denbighshire LL15 1HF.

2

The Trust Deed empowers the Trustees to receive and apply funds, to purchase articles for re-sale and to hold property as a museum, to invest Trust funds and to acquire land for archaeological purposes. In particular, the Trustees may set apart as an endowment fund part of the Trust Funds and apply the income for Trust purposes.

VAT Registration no. 531 4021 02

Objects of the Trust

The Charity's objects (the "Objects") as set out in the Articles are:

Organisation and history of the CIO and its predecessor Trust

The Trust opened the Senhouse Roman Museum in a Grade II listed building on the sea cliffs overlooking Maryport Harbour in April 1990. The Museum houses the Netherhall Collection, on loan from the family of Mr J Scott Plummer. This is the finest collection of Roman sculpture and inscriptions from a single site in Britain. Mr Scott Plummer was a lineal descendant of John Senhouse, who established the collection at Netherhall before 1599.

The Museum is located next to the site of the Roman fort, which forms part of the Frontiers of the Roman Empire World Heritage Site (WHS), a trans-national World Heritage Site containing Hadrian’s Wall, the Antonine Wall and the upper German frontier, the Limes .

The Trust works closely with a number of organisations with related objectives, including Historic England, Cultura Trust, Museums Development North West, Arts Council England, Cumbria Tourism, Cumbria CVS, the Cumbria Museum Directors Group, Cumbria Museums Consortium, the Solway Coast Area of Outstanding Natural Beauty, Grampus Heritage and Training, the Hadrian’s Wall Learning and Interpretation Group, Maryport Cultural Consortium, Cumbria Arts and Culture Network and the cultural services of Cumberland Council.

3

Risk management

The major risks to which the Trust is exposed, as identified by the Trustees, have been reviewed and systems have been established to mitigate these risks.

Responsibilities of the Trustees for the Annual Report and Accounts

The Trustees’ duty of public accountability and stewardship requires that they:

keep proper accounting records of the transactions in each fund within the charity

present Annual Accounts which disclose a proper appreciation of the charity’s financial transactions during the year, and which give a true and fair view of the charity’s funds at the end of the year.

provide the Annual Report which contains information on the objects and constitution of the charity, and which describes its activities and future plans.

B. GOVERNANCE 2023-24

Trustees met on 21 June, 26 July, 8 December and 12 January 2024 for the AGM. Meetings have continued in either a Zoom format or a hybrid of in-person and Zoom for those unable to attend in person. In addition the Trustees met on 19 July 2023 for a workshop to progress the proposed development of the museum and adjacent site.

Linda Radcliffe and Prof. Maureen Fordham retired as Trustees due to pressure of work. All remaining Trustees expressed their appreciation and gratitude for the hard work and diligence both had contributed during their time as Trustees.

The Trustees are continuing to explore recruitment of a diverse and robust board of Trustees.

Charles Scott Plummer continues as the representative of the Scott Plummer family regarding the Netherhall Collection. He attends meetings of the Trust whenever his commitments allow.

Arts Council England Museum Accreditation (Full) continues to be maintained. The Safeguarding, Health & Safety and the Environmental Sustainability Policies were reviewed and approved. An additional Equity, Equality, Diversity and Inclusion Policy was produced.

The Manager continues to report weekly by telephone to the Chairman of Trustees as her line manager. A written report is circulated to all Trustees in advance of Trustee meetings.

4

C. REVIEW OF ACTIVITIES

There were 8156 visits to the Museum during the year (2022-23: 8,436). The Museum continues to offer free entry to residents within the CA15 postcode area.

Trustees continued to liaise with Cultura Trust as owners of Camp Farm (the site of Maryport Roman fort and civilian settlement) in line with the Memorandum of Understanding . Cultura Trust continues to grant the Trust permission to use the fort field for volunteer-led tours and group visits.

A project steering group for the museum development (working title Reimagining Roman Maryport) continues to meet monthly. The steering group includes three Trustees, the Museum Manager, Graham Bell (Cultura Trust) and two Cumberland Council officers from the Maryport Regeneration Team. The project is a collaboration between the Trust and Cultura Trust (the owner of Camp Farm) and aims to develop the museum and adjacent Roman site into a joint attraction. The project submitted a successful Expression of Interest to the Borderlands Inclusive Growth Deal. 2023-24 activity focused on developing architectural designs for the refurbishment and extension of the museum and developing a Green Book compliant Business Case for the project. This work will continue into 2024-25.

The Trust submitted a successful grant application to the National Lottery Heritage Fund. The grant will support a programme of community engagement and consultation, audience research, business planning, governance review and evaluation, which is on-going into 2024-25.

Crosby Granger Architects (Kendal) were appointed to develop an architectural design for the development of the museum building. The work will be funded by the Trust.

The VAQAS accreditation continues to be maintained by annual ‘mystery shops’ by Visit England assessors. The assessment scheduled in May 2023 resulted in a continuing increase of the overall score. The Manager represents the museum on the Hadrian’s Wall Marketing and Transport Group and with Cumbria Tourism.

Permanent Collection and Displays

The museum continues to offer an identification service for archaeological material found by the local community. The Portable Antiquities Scheme’s Finds Liaison Officer for North Lancashire and Cumbria continues to carry out finds identification days in the museum. He visited the museum to identify and record finds brought in by members of the public in April, June, October, December and February.

A small group of volunteers continued to work through the collection documentation backlog. Accessioning of the finds from the 2013 - 2014 excavation of the civilian settlement by Oxford Archaeology North continues and was approximately 90%

5

completed at the end of March. Digitising of the accession records relating to these and other excavation continued in 2023-24.

A review of the collection security review was carried out and a full inventory of the collections initiated.

Two PhD students visited to study the reserve collection: one studying Roman military altars and inscriptions and one studying Roman ceramic flue tiles.

New finds accessioned into the collections include a whithy splitter from Beckfoot and a framed pencil drawing of Philip Nelson by George Senhouse. The later featured in the 1997 publication Roman Maryport and its Setting and at that times was believed lost.

The Manager represents the museum on the Hadrian's Wall Curators Group and the Hadrian's Wall Learning and Interpretation Delivery Group. Both groups continued to meet virtually.

The Battery

Remedial work on the museum was carried out to upgrade the fire alarm system.

Exhibitions, events and visits

The Arts and Literature Festival continued into May 2023 with a series of creative writing and art workshops in the museum.

Easter was the beginning of the summer season and young visitors were offered an Easter Egg Hunt and Easter themed family craft activities.

Slow Art Day took place on 15 April, when visitors and virtual audiences were encouraged to slow down and engage with objects in the collection in more depth.

Family-friendly events were scheduled during the school holidays including halfterms. These included themed treasure hunts and craft drop-ins. The Summer Festival included a series of living history days led by live interpretation specialists including a Roman potter, a Roman soldier (Pottery and Pilums) and a group demonstrating Roman life and food.

From the beginning of Easter to the end of October volunteers led guided tours of the fort every weekend. 104 museum visitors benefited from the guided tours, including 52 visiting as part of pre-booked special-interest groups.

On the weekend of 10 - 11 August staff and volunteers manned a stall at Maryport's Taste of the Sea Festival. The team were joined by Ancient Britain, a living history group who delivered sessions on Roman food and life. This enabled the team to promote the museum, its services and expand its learning outreach programme.

6

During the October half-term the museum joined with other venues in Maryport for the inaugural ‘Scaryport’ festival. This was a family-friendly week-long event that celebrated this tongue-in-cheek name for Maryport.

The Museum was open to the public for additional days between Christmas and New Year (27 - 31 December).

The annual Arts and Literature Festival launched over the weekend of 1 to 3 March. The festival theme was ‘Life on the Edge’ and was funded by an Arts Council England Project Grant. This grant enabled the festival to expand its programme and increase the number and reach of the creative writing and art workshops. For the first time the festival included outreach workshops (creative writing, art and photography) in community venues in Maryport and the Solway Coast.

Education

A total of 353 school pupils from 15 schools visited the museum. In addition, the learning team delivered several outreach visits in schools and adult informal learning settings. These included local women’s groups and local history groups.

The museum continues to maintain its Arts Award Centre registration with three Arts Award advisers. The advisors support young people to carry out Arts Award projects from Discover to Gold.

The outreach team attended the Ewanrigg Coronation Fun Day on 7 May. Activities included ‘dress like a Roman’ and make and take-away your own Roman cavalry pendant.

During May and June the museum hosted a group of local people taking part in a reminiscence / local history / drama project called Audio Adventures. The participants shared their experiences of living and working in Maryport, created their own scripts and delivered a promenade performance around the town.

In July the museum hosted a photogrammetry workshop in collaboration with Cultura Trust. A group of nine created a virtual 3D model of the Battery.

The Museum was visited by the following groups: Grampus Heritage and Training, Scholarly Sojourns, a group of Germany Heritage Studies students, Historizon (from Netherlands), Northern Secrets, Maryport Beavers and Maryport Guides. Some of the groups included a tour of the fort as part of their visit.

The Sociable Reading Group continues to meet in the museum. Maryport & District Natural History Society disbanded and stopped meeting in the museum due to lack of membership.

7

The Maryport branch of the Young Archaeologists’ Club continues to meet in the museum, supported by the Museum Manager and three volunteer leaders. This year the group structured their meetings around the principles of archaeological research methods.

Work placements continue in partnership with Netherhall School with a 6[th] form student and a GCSE student spending a week in the museum discovering the variety of work that is carried out in museums.

The museum continued a project in collaboration with Cultura Trust and Netherhall School that aimed to understand the archaeology and land management of Milefortlet 23, situated on the adjacent fields of Camp Farm. A group of students from Netherhall School joined the Community Engagement Officer for Cultura Trust and the Museum Manager for a series of sessions that explored the site of the Milefortlet and the nearby Milefortlet 21.

The Manager represented the museum in meetings with the Hadrian’s Wall Learning and Engagement Forum, Hadrian’s Wall Learning and Interpretation Delivery Group and Cumbria Arts and Culture Network.

Research

The report of the 2011-15 excavation directed by Newcastle University and funded by the Trustees was reduced to cost price to support access to research.

The sculpted stone in the collection was surveyed by Lindsay Allason-Jones for inclusion in the Corpus Signorum Imperii Romani: The Hinterland of Hadrian’s Wall and Derbyshire (Corpus of Sculpture of the Roman World).

D. MANAGEMENT AND FINANCE

Management and Staffing

Jane Laskey continues as Museum Manager, assisted by Museum Assistants Tim Okins and Vanessa O’Donnell, and a group of enthusiastic and committed volunteers. The volunteers focused on providing the guided tours of the fort, supporting events, leading school visits, grounds maintenance, outreach and documenting the collection.

Staff and volunteers attended a series of in-house training sessions covering customer care, collection care and documentation, tour guiding, safeguarding and equality and diversity.

The Manager attended in-person and virtual training workshops provided by several organisations including the Association for Independent Museums, Museums Development North-West, Collections Trust and Cumbria CVS. Training included

8

managing volunteers, collection documentation, accessible collections and audience development.

The museum continued to benefit from a county-wide volunteer development programme led by the Cumbria Museum Consortium (Tullie House, Wordsworth Grasmere and Lakeland Arts). The programme aims to promote the volunteering opportunities in museums to the communities served by the museum and support recruitment and training of new volunteers. Two volunteers were recruited for the museum as part of this programme.

The Museum has a group of 18 volunteers. The volunteers contributed 1528 hours of their time to the Museum’s activities. The Trustees are grateful for all the hard work and enthusiasm she contributed towards supporting the volunteer team.

Finance to year end 31 March 2024

Operations and Development

Operating costs amounted to £102,455 (£105,320) for Museum Operations and Publications. Management and administration costs were £32,269 (£22,561). Total resources expended were £157,392 (£145,318).

Museum revenues

The total receipts at the museum were £21,024 (£22,891), Commercial Fundraising produced £12,849 (£15,056), donations and grants £51,609 (£17,837); additionally, investment income amounted to £71,471 (£62,936) providing a total income of £156,953 (£118,720).

Museum costs

Staff costs were slightly higher at £59,418(£51,047) for the Museum operations.

Donations and grants

Grants included: National Heritage £33,000, Ace Lottery £9,090, Newcastle City Council £2,256, Cumberland Council £1,330. Donations included: Mainhouse Charitable Trust £2,750.00

Investments and Reserves

Investment income received was increased at £71,471 (£62,936). At the year end the Trust’s total net assets were valued at £1,546,527 (£1,527,362).

9

PATRONS

The Trust continues to benefit from the support of Lord Inglewood and Professor David Breeze.

Peter Richard Wilson Chairman of Trustees

10

THE SENHOUSE MUSEUM TRUST

FINANCIAL STATEMENTS FOR THE YEAR ENDED 31st MARCH 2024

CONTENTS

INDEPENDENT EXAMINER’S REPORT
STATEMENT OF FINANCIAL ACTIVITIES
BALANCE SHEET
NOTES TO THE ACCOUNTS
SCHEDULE OF INVESTMENTS HELD		 Page
1
2
3
4
7

THE SENHOUSE MUSEUM TRUST STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2024

Notes
INCOMING RESOURCES
Donations and grants
Museum operations
Commercial fund-raising activities
5
Investment income
6
Total Incoming Resources
RESOURCES EXPENDED
Costs of commercial fund-raising activities
5
Museum operations and publications
Development expenditure
Management & administration
7
Total Resources Expended
NET INCOMING RESOURCES
Realised Gains/(losses) on investments
8
Unrealised Gains/(losses) on investments
8
Transfers between funds
6
NET MOVEMENT IN FUNDS
Fund balances at 1 April 2023
FUND BALANCES AT 31 MARCH 2024		 General
Designated
(note 2)
Endowment
(note 3)
Income
(note 4)
Total
£
£
£
£
£
48,914
48,914
21,024
21,024
12,849
12,849
11
50,965
20,495
71,471
82,798
50,965
20,495
0
154,258
(22,668)
(22,668)
(102,455)
(102,455)
0
0
(32,269)
(32,269)
(157,392)
0
0
0
(157,392)
(74,594)
50,965
20,495
0
(3,134)
(9,685)
19,225
9,540
31,292
(18,532)
12,760
90,665
(87,676)
(2,989)
0
16,071
(15,104)
18,199
0
19,166
39,924
1,073,314
408,292
5,831
1,527,362
55,995
1,058,210
426,491
5,831
1,546,528
------------------------ 2024 -----------------------
----- Unrestricted Funds -----
----- Restricted Funds -----		 2023
Total
£
17,837
22,891
15,056
62,936
118,720
(17,437)
(105,320)
0
(22,561)
(145,318)
(26,598)
(22,831)
(200,049)
(0)
(249,478)
1,776,840
1,527,362

The statement of financial activities includes all gains and losses recognised in the year. All incoming resources and resources expended relate to continuing activities.

THE SENHOUSE MUSEUM TRUST BALANCE SHEET AS AT 31 MARCH 2024

Notes
General
Designated
(note 2)
Endowment
(note 3)
Income
(note 4)
Total
£
£
£
£
£
Fixed assets
Land and buildings
3
60,000
60,000
Investments
8
1,057,960
356,642
1,414,602
0
1,057,960
416,642
1,474,602
Current assets
Stock
9
10,945
10,945
Debtors
10
7,817
7,817
Cash and bank
52,932
250
9,849
5,831
68,862
71,694
250
9,849
5,831
87,624
Creditors
11
(15,699)
(15,699)
Net current assets
55,995
250
9,849
5,831
71,925
Total Net Assets
55,995
1,058,210
426,491
5,831
1,546,527
Funds
55,995
1,058,210
426,491
5,831
1,546,527
………………………………..} TRUSTEES
………………………………..}
DATE APPROVED ……………………21.01.2925
------------------------ 2024 -----------------------
----- Unrestricted Funds -----
----- Restricted Funds -----		 2023
Total
£
60,000
1,392,675
1,452,675
11,568
4,683
66,623
82,875
(8,188)
74,687
1,527,362
1,527,362

THE SENHOUSE MUSEUM TRUST

NOTES TO THE ACCOUNTS FOR THE YEAR ENDING 31 MARCH 2024

1. Accounting policies

a) Basis of accounting

Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)(effective 1 January 2015), Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and the republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.

Financial Reporting Standard FRS102 - reduced disclosure exemptions.

The Charity has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' - the requirements of Section 7 Statement of Cash Flows.

Incoming resources are recognised when receivable. Subscriptions for life membership are recognised as incoming resources in the year in which they are received. Expenditure is recognised on an accruals basis as liabilities are incurred.

No provision has been made for depreciation on the museum building as the Trustees believe that any such amount would be immaterial in view of its expected useful life.

Expenditure on fixtures and fittings is written off each year as costs are incurred.

b) Fund accounting

Unrestricted funds are available to be applied at the discretion of the trustees in furtherance of the objectives of the Trust, as set out in the Trust Deed. Restricted funds include funds received subject to restrictions imposed by donors and funds which have been set apart by Trustees as endowment funds; the Trust Deed provides that these endowment funds are held upon trust that the income thereof shall be applied in perpetuity to further the objects of the Trust.

  1. DESIGNATED FUNDS - from time to time, the Trustees designate specific amounts of unrestricted funds for expenditure on the Trust’s development programme. In 2024, the Trustees spent £ nil (2023: £ nil) of designated funds on development projects,

  2. ENDOWMENT FUNDS include the Valuation Fund which represents the capital interest of the Trust in the Museum building, professionally valued as at 16[th] April 1990 by Thomson, Roddick & Laurie, Chartered Surveyors, the Kirby Trust Fund, a permanent fund arising from a series of donations by the Guilford Foundation of Richmond, Virginia,and additional amounts set apart by the Trustees as endowment funds. There were no changes during the year to endowment funds other than investment losses, as shown below:

Investment Investment
At 31 March gains/ Investment At 31 March
2023 (losses) Additions 2024
Funds set apart by Trustees £197,516 412 14,235 £212,163
Kirby Trust Fund 134,504 281 9,694 £144,479
----------- ---------- ---------- -----------
£332,020 £ 693 £ 23,929 £356,642
Valuation Fund 60,000 - - 60,000
Cash at Bank 16,272 - (6,423) 9,849
----------- ---------- ---------- -----------
Total £408,292 £ 693 £ 17,506 £426,491
  1. The Trust’s RESTRICTED INCOME funds arise from the receipt of grants or donations tied to specific planned activities. The restricted income fund balance at 31[st] March 2024 amounted to £5,831 (2023; £5,831).

23; £5,831).
At 31 March Incoming Resources At 31 March
2023 resources expended 2024
Restricted funds
MLA-Northwest –conservation £3,831 £3,831
Cumbria Coast Learning Network –education project 2,000 2,000
---------- ---------- ------------- ----------
Total £5,831 £0 - £5,831

  1. Fund-raising activities include the sale of books, gifts and refreshments at the Museum and fees charged for use of the Museum’s facilities.

  2. Investment income includes all income on investment of funds and interest earned on the Trust’s bank and brokerage accounts. In the absence of specific restrictions imposed by donors, the net income arising from endowment investments can be applied without restriction to support the objectives of the Trust in accordance with the Trust Deed.

  3. Management and administration costs include £1,500 (2023: £1,425) in respect of the costs of independent examination of the Trust’s accounts for 2023/24 and £9,151 fees charged by the Trust’s investment adviser (2023: £11,499).

  4. INVESTMENTS are shown at market value. Changes in the market value of investments during the year arose as follows:

Designated Endowment
funds funds Total
Market value at 31 March, 2023 £1,060,656 £332,020 1,392,676
Additions at cost 125,344 175,600 300,944
Disposal proceeds (149,646) (151,671) (301,317)
Realised gains/(losses) (9,685) 19,225 9,540
Unrealised gains/(losses) 31,291 (18,532) 12,759
Market value at 31 March 2024 £1,057,960 £356,642 £1,414,602

A schedule of investments held at 31 March 2024 is provided at the end of these notes.

  1. STOCK consists of books, guidebooks, gifts and refreshments purchased and held for resale, at cost. The cost of the Trust’s own publications, largely financed by grants and donations, are written off as they are incurred.
At 31 March At 31 March
10. DEBTORS comprise: 2024 2023
Recoverable VAT £7,745 £1,915
Charity repayment claim £72 £2,768
Prepaid expenses & accrued income £0 £0
--------- ---------
Total £7,817 £4,683
At 31 March At 31 March
11. CREDITORS comprise: 2024 2023
Trade Creditors £14,152 £6,700
Accruals £1,547 £1,488
Provision for excavation project sponsorship £0 £0
--------- ---------
Total £15,699 £8,188
  1. Neither the Trustees nor any person connected with them has received any remuneration or recovered any expenses from the Trust. The Trust has no employees with emoluments above £50,000.

SCHEDULE OF INVESTMENTS HELD AT 31 MARCH 2024

Market
DESIGNATED FUNDS Cost Market value ENDOWMENT FUNDS Cost value
Investment and unit trusts Investment and unit trusts
40,000 Invesco Fd Managers £87,637 £78,828 75,000 Baillie Gifford Multi Asset Income £80,448 £80,100
50,000 CT Monthly £64,212 £73,940
3,500 Alliance Trust £12,502 £42,980 Investment and unit trusts
30,000 Bankers Investment Trust £11,752 £33,420 20,000 Henderson Far East Income Trust £47,517 £44,300
12,000 Edinburgh Investment Trust £45,319 £82,680 75,000 Life Science REIT £52,723 £29,400
15,000 Witan Investment Trust £12,454 £37,425 70,000 Tellworth UK £68,520 £70,420
100,000 Schroder Unit Tst Monhly High Inc £52,416 £44,230
165,369 VT Momentum Diversified £156,071 £167,995 Index-linked gilts and corporate bonds
75,000 Warehouse Reit Plc £76,067 £61,875 140,000 M&G Corporate Bond Fund £41,946 £50,162
100,000 Schroder Income Maximiser £31,515 £46,410 9,000 PIMCO GIS Income Fund £80,895 £82,260
12,000 Schroder Oriental £22,050 £30,960
10,000 JP Morgan Global £26,709 £55,900
9,750 JP Morgan Mid Cap Inv £22,026 £28,275
7,500 Scottish American Inv £24,258 £37,725 Investment total - endowment funds £372,049 £356,642
12,500 Murray International £20,763 £31,000
50,000 Baillie Gifford Multi Asset £54,407 £53,400
50,000 Aegon AM UK Plc £52,467 £50,360
100,000 UK Government 5% £100,824 £100,557
Investment total - Non-endowment funds £873,448 £1,057,960 Total £1,245,497 £1,414,602

THE SENHOUSE MUSEUM TRUST

Investment register for the year ended 31 March 2024 - Designated funds

Holding at 31st March, 2024 COST
At
Additions
Disposals
At
31-Mar-23
in the
in the
31-Mar-24
year
year		 MARKET VALUE
At
Additions
Disposals
Net
Net
At
31-Mar-23
in the
in the
realised
unrealised
31-Mar-24
year
year
gains/(losses)
gains/(losses)
Investment and unit trusts
40,000 Invesco Fd Managers
50,000 CT Monthly
3,500 Alliance Trust
30,000 Bankers Investment Trust
12,000 Edinburgh Investment Trust
15,000 Witan Investment Trust
100,000 Schroder Unit Tst Monhly High Inc
10,000 Fundsmith LLP
165,369 VT Momentum Diversified
75,000 Warehouse Reit Plc
100,000 Schroder Income Maximiser
12,000 Schroder Oriental
10,000 JP Morgan Global
9,750 JP Morgan Mid Cap Inv
7,500 Scottish American Inv
12,500 Murray International
7,500 Blackrock World Mining Trust
50,000 Baillie Gifford Multi Asset
50,000 Aegon AM UK Plc
1,250 First Trust Equity Income
25,000 Tellworth UK
100,000 UK Government 5%
Investment total		 87,637
87,637
64,212
64,212
12,502
12,502
11,752
11,752
45,319
45,319
12,454
12,454
52,416
52,416
21,443
(21,443)
-
156,071
156,071
76,067
76,067
31,515
31,515
22,050
22,050
26,709
26,709
22,026
22,026
24,258
24,258
20,763
20,763
26,625
(26,625)
-
54,407
54,407
52,467
52,467
31,090
(31,090)
-
24,520
(24,520)
-
100,824
100,824		 74,760
-
4,068
78,828
68,740
-
5,200
73,940
34,090
-
8,890
42,980
30,300
-
3,120
33,420
79,200
-
3,480
82,680
33,300
-
4,125
37,425
43,300
-
930
44,230
56,380
-
(56,347)
(33)
-
166,578
-
1,416
167,995
76,650
-
(14,775)
61,875
44,030
-
2,380
46,410
31,020
-
(60)
30,960
45,650
-
10,250
55,900
26,490
-
1,785
28,275
38,175
-
(450)
37,725
33,450
-
(2,450)
31,000
50,100
-
(42,587)
(7,514)
-
52,300
-
1,100
53,400
47,810
-
2,550
50,360
28,331
-
(26,470)
(1,861)
-
-
24,520
(24,243)
(278)
-
-
100,824
(267)
100,557
851,782
125,344
(103,678)
873,448		 1,060,654
125,344
(149,646)
(9,685)
31,292
1,057,960
Cash total 12,659
(125,344)
50,965
(79,720)
b/f
Purchases
Income
Transfers out		 -
(7,955)
149,646
(1)
250
Transfers In
Fees
Sales
Charges
1,058,210

28/01/2025

THE SENHOUSE MUSEUM TRUST

Investment register for the year ended 31 March 2023 - Endowment funds

Holding COST
At
Additions
Disposals
At
31-Mar-23
in the year
in the
31-Mar-24
year		 MARKET VALUE
At
Additions
Disposals
Net
Net
At
31-Mar-23
in the
in the
realised
unrealised
31-Mar-24
year
year
gains/(losses) gains/(losses)
Investment and unit trusts
60,000 Fidelity Multi Assset
75,000 Baillie Gifford Multi Asset Income
Investment and unit trusts
20,000 Henderson Far East Income Trust
125,000 BMOReal Estate Investments
75,000 Life Science REIT
70,000 Tellworth UK
Index-linked gilts and corporate bonds
140,000 M&G Corporate Bond Fund
9,000 PIMCO GIS Income Fund
Investment total		 61,710
(61,710)
-
54,263
26,185
80,448
47,517
47,517
100,838
(100,838)
-
52,723
52,723
68,520
68,520
41,946
41,946
80,895
80,895		 52,446
(52,207)
(239)
-
-
52,300
26,185
1,615
80,100
52,050
(7,750)
44,300
80,000
(99,464)
19,464
-
-
46,350
(16,950)
29,400
68,520
1,900
70,420
48,874
1,288
50,162
80,895
1,365
82,260
358,997
175,600
(162,548)
372,049		 332,020
175,600
(151,671)
19,225
(18,532)
356,642
Cash total 22,103
(175,600)
20,495
-
(1)
(2,989)
151,671
15,680
b/f
Purchases
Income
Transfers
Bank Chgs
Fees
Sales
372,322
MARKET VALUE OF INVESTMENTS
Balance brought forward
Additions at cost
Disposal proceeds
Revaluation gains/(losses)
Balance carried forward
UNREALISED PROFIT ON INVESTMENTS		 Designated
Endowment Combined
1,060,654
£
£332,020
£1,392,674
ENDOWMENT
Kirby
Other
Total
125,344
175,600
300,944
Balance b/f
£134,503
£197,517
£332,020
(149,646)
(151,671)
(301,317)
Net additions / disposals
9,694
14,235
23,929
21,607
693
22,300
Gains/losses
281
412
693
1,057,960
£
£356,642
£1,414,602
Balance c/f
£144,478
£212,164
£356,642
-
Designated
Endowment
Combined
£184,512
-£15,407
£169,105

28/01/2025

Independ8nt E¥aminBrfs provisional Reportto the T￿￿te8S ofThe Mu5eLun Trust I report on the accounts ofbSe efrityts the year ended 31 Marth 2tr24, are sel out on the ftAlowiThJ pages. R￿peCt￿le resportsibilities of trust•¢s and examiner The charity's trustéès are resw)nsrtAe ftKlhe weparatrm of the acc￿rts. The tharity's trustees o)nsder that an audit is not re¢wired for this year under Sect￿ 144(21 of the Chaniie5 Act 2011 lihe 2011 Artl 8ThY that an irKJependent ex￿inatIOn is needa(J. It 18 my responsibilty to.. examine the •c£wnts under se(aion 145 ofthÈ 2011 Act folbw the wThlures iAid d￿+4￿ in thè general Direkn gven by the Charity corywn1ss￿ under secb'on 14515llbl of the 2011 Act". aNI state whÈllEr partiojlar matter5 have to my attenlk?ft. 8asis of independ¢nt examinerfs rep(xt My examinthn was c8rrd wt tii accordance wrth tr gewal Directior￿ given by the Charity Ctynmission. An examinatK)n indudes a review of the accounting records kept by U)e charty and a wmparison of the xcoun15 presented with those records. It also tncknle5 w￿lderatI)rt of any unusual rtems or disdosurts in thè aCCc￿nts. and seeking explan"ons from you as tnjstees (x)rKeming a)y rnatt￿. The procedures unthrten do not provide all the evKIen￿ that w)uld be requirefj in an autht arhg (wsequÈntty no opinion given as lo vthether the ac(xwnts present a Irue and fair vithrf and fr repwt is Iwnited to 1hose matters set wt in Ihe statement below. lrnlependent 8xaminerfs statwment In c(x)nection vrilh rTry examinab"M. no matter ¢>Jne to my altention.. which gNes mè reasonable ￿se lo bdieve that. in any material respec4. ￿ requirements.. to keep ￿lUntr0g recx)rds in actordarK wrth se(kn 1XJ ofthe 2011 Art and to prepar& ac£ounts whth actonl ￿th the axyJunting rewts and ¢omFty ¥￿th the accounling requirements of the 2011 ACL have not been mèt or lo which, in my ￿Inion. attenlK)n shouk1 bedrawn in ordertoenab a proFer urkyerstanding ofthe aczounts to be reathed. Luke Tattèwll Tèttersall Balley CharteredA(xountants 3 Fisher Slre Cartisle CA3 8RR 23 J8nuary 2025