Charity Registration No. 1176955 Companies House Registration No. CE013114 (England & Wales)
# **Birmingham Pen Trade Heritage Association (also known as The Pen Museum) Annual Report & Financial Statements**
**for the year ended 31 March 2026**
**www.penmuseum.org.uk**
## **Birmingham Pen Trade Heritage Association**
## **Trustees’ Report for the Year Ended 31 March 2026**
## **Administrative Information**
|**Alternative name:**|The Pen Museum|
|---|---|
|**Trustees:**|Dr Laura Dudley|
||Craig Edmondson|
||Nigel Evans|
||Carmel Girling|
||Paul Lindsell|
||Andrew Munro|
||Helen Shute|
||Sergio Torres Velazquez|
|**Co-opted Trustees:**|None|
|**Charity Registration Number:**|1176955|
|**Companies House Registration Number:**|CE013114|
|**Principal Address & Registered Office:**|Pen Museum, Unit 3|
||The Argent Centre|
||60 Frederick Street|
||Birmingham, B1 3HS|
|**Accountants:**|Holder Blackthorn|
||Studio 2 50-54 St Pauls Square|
||St Pauls Square|
||Birmingham West Midlands B3 1QS|
||United Kingdom|
|**Bankers:**|Lloyds Bank, University of Birmingham|
||142 Edgbaston Park Road|
||Edgbaston|
||Birmingham, B15 2TY|
|**Telephone:**|0121 236 9834|
|**Email:**|enquiries@penmuseum.org.uk|
|**Website:**|www.penmuseum.org.uk|
**Birmingham Pen Trade Heritage Association**
## **Trustees’ Report for the Year Ended 31 March 2026**
## **Chair’s Review of the Year**
Alongside the wider visitor industry, 2025-26 was a challenging year for the museum and we saw visitor numbers drop in line with our peers. Against this difficult backdrop, however, due to the hard work of the Museum Manager Huw Jones and our volunteer team, a vibrant programme of events and a focus on our retail offer helped us weather the external environment. The programme included five featured tours, a new venture, which included two evening/after dark tours and a Christmas themed one held in September! These were relatively successful and so we will be looking to expand them for 2026-27. Another new endeavour was the two murder mystery nights we held as fundraising events during the year which both sold out.
Despite the lower visitor numbers, our ratings on sites including Google and Trip Advisor continue to be encouragingly strong and give cause for pride and optimism that the individuals who do visit the Museum very much enjoy the experience. And naturally with the drop in numbers, there was a drop in admission income during the year. However, we were blessed by a legacy, bequeathed by long-time member John Hill who sadly passed away last summer, so that wonderful gift alongside a grant from Birmingham Municipal Charity meant that we were able to minimise the unrestricted deficit for the year.
For a small museum like us, the opportunity to be part of a national TV programme is very rare. But last summer we were delighted to be able to contribute to Joe Lycett’s ‘United States of Birmingham’, broadcast on Sky Max, by providing the pen for the Lord Mayors of the Birminghams in North America to sign a Friendship Agreement with our own Lord Mayor of Birmingham. As part of the promotion of the show, we were included in its ’10 Things You Need to Do’ itinerary as a fun and eccentric way of exploring many of Birmingham’s brilliantly tourism venues, attractions and landmarks.
Over the course of the year, one of our Trustees, Helen Shute, took on the role of Interim Chair while the board recruited for a permanent replacement. After a selection process, I - Paul Lindsell – am delighted to have been confirmed as permanent Chair by member vote in December 2025.
We also welcomed two new Trustees to the Board over the course of the year following competitive selection processes and they were duly elected by members at the AGM in October 2025. They are Sergio Torres who comes to us with a legal background and Laura Dudley who is a professional fundraiser.
Helen and I would like to thank the wider Trustee Board, and in particular Andy Munro who stepped into the new role of Vice Chair during the course of the year, and our Elected Officials Nigel Evans (Secretary) and Craig Edmondson (Treasurer).
Looking ahead to our 25th Anniversary year, there is much to do. No smaller museum can hope to exist in the modern world on entrance fees and trading alone. So we are looking to the generosity of the stationery trade, as well as that of local businesses and individual benefactors, to provide annual funding that ensures the Museum’s financial stability for the next 25 years and beyond. Indeed, a relatively modest level of annual benefaction will completely transform the Museum’s fortunes and its ability to serve its communities. We hope to have our patron-partner group in place before the end of 2026.
Finally, my thanks to all our Officers, Trustees, Volunteers, Supporters and Members, old and new for continuing to be part of our Pen Museum family.
Paul Lindsell **Chair**
**Birmingham Pen Trade Heritage Association**
## **Trustees’ Report for the Year Ended 31 March 2026**
The Trustees present their report and financial statements for the year ended 31 March 2026.
## **Governing Document**
The Birmingham Pen Trade Heritage Association, also known as The Pen Museum, is constituted as a charitable incorporated organisation (reg. no. 11176955).
## **Trustees**
The Trustees of the Museum for the purposes of charity law and throughout this report are collectively referred to as ‘the Trustees’. The Trustees are appointed by the Members of the charity. Those Trustees who served during the period of this review were:
Paul Lindsell (appointed 8 December 2025) - Chair Oliver Buckley (resigned 2 September 2025) Dr Laura Dudley (appointed 4 October 2025) Craig Edmondson Nigel Evans Carmel Girling Steve Hearn (resigned 31 March 2026) Andrew Munro Helen Shute Sergio Torres Velazquez
## **Recruitment & Appointment of Trustees**
Trustee selection usually follows an advertised recruitment process. Candidates if selected are interviewed by Trustees. Successful candidates are co-opted onto the board of Trustees until the appropriate AGM. Vacancies arising may be filled by the decision of the Members at the AGM. The Members, acting at an AGM, shall also elect from amongst themselves a Chair, Secretary and Treasurer for the time being. A Trustee shall serve for a term of three years from the conclusion of the AGM at which they were appointed. At the conclusion of their term of office, a Charity Trustee who is willing to continue to serve may be nominated for re-appointment by the Members, subject to serving a maximum of four consecutive terms of three years. Nominations for election as a Charity Trustee must be made by Members of the CIO in writing and must be received by the Secretary at least 14 days before the AGM. Trustees receive role profile/description and code of conduct. Relevant Accounts and Charity Commission Guides for Trustees and CIO Constitution.
## **Achievement of Public Benefit**
As a charity, the Trustees recognise their legal duty to report on the Museum’s public benefit in their Annual Report, as part of a requirement to clearly demonstrate that the Objects of the Charity are for the public benefit. In setting out, in this Annual Report, how the Charity currently meets this requirement and is reflected in its future, the Trustees assert that the Charity is compliant with the requirements of the Charities Act 2011, having due regard for the public benefit guidance published by the Charity Commission.
## **Birmingham Pen Trade Heritage Association**
## **Trustees’ Report for the Year Ended 31 March 2026**
## **Charitable Objects and Aims**
As a registered charity, the objectives of the Museum are to:
Promote and preserve the history and legacy of the steel Pen Trade in Birmingham, for the advancement of the education and benefit of the public; and
Provide, safeguard and develop a museum and collection that highlights the skill and craftsmanship of the Pen Makers, and their employees, and also houses historic artefacts and ephemera related to the art of writing.
The charity’s aim is to ensure that the importance of the city of Birmingham's role in the nineteenth century pen trade is explored, understood, and appreciated. It seeks to achieve this predominantly through operating the Pen Museum in Birmingham, which is dedicated to displaying information and artefacts about the Birmingham pen trade of the nineteenth century and the lives of manufacturers and workers in that trade. The museum provides a range of activities for visitors and has an extensive collection of historical items on display including nibs, inkwells, and period retail packaging. The charity encourages research into the Pen Trade by making its collections accessible to researchers. In addition, it highlights the importance of and encourage the use of nib and fountain pen to develop writing and graphic skills.
## **Performance and Achievements during the Year**
We are delighted that throughout the year, we have been able to continue to open the Museum to visitors four days a week, Thursday to Sundays, which enabled us to welcome 4,439 (2024-25: 5,273) visitors to the Museum. For the first time we offered a number of tours relating to specific topics of which there were five across the year attracting 64 attendees. Furthermore, we welcomed 126 (2024-25: 97) students through school, college and university group visits. We also held 15 Calligraphy Classes and workshops across the year. Another first for the Museum were two successful Museum Murder Mystery events which were held as fundraising events with both selling out.
## **Financial Review**
Income for the year amounted to £81,623, of which £73,948 was unrestricted, whilst expenditure totalled £80,307, of which £75,732 was unrestricted. This means that the Museum had a net decrease in unrestricted funds of £1,784 but a net increase in restricted funds of £3,100 resulting in a balance of total funds of £80,641 on 31 March 2026.
## **Reserves Policy**
The Trustees regularly review the Charity’s need for reserves and has constructed a reserves policy, in line with the guidance issued by the Charity Commission, which is to hold general funds the equivalent of six months of operating expenditure (approximately £32,000). As of 31 March 2026, the general funds balance was £23,268. Therefore, the Trustees have the aim of improving the amount of general funds.
## **Risk Management**
The Trustees identify and review risks at every Board meeting using a formal risk register - to ensure that key risks facing the organisation are identified and appropriate actions are put in place to mitigate those risks. As part of the Museums risk management process, the Trustees acknowledge their responsibility for the Museum’s system of internal control and reviewing its effectiveness.
## **Birmingham Pen Trade Heritage Association**
## **Trustees’ Report for the Year Ended 31 March 2026**
## **Future Plans**
The key plans for the Museum continue to be to secure its long-term existence as it reaches its 25-year anniversary. There will be a focus on engaging with businesses within the stationery sector to seek financial support through a corporate patron scheme and alongside this we will continue to make applications to appropriate charitable trust and foundations. As well as continuing to seek to recruit more long-term volunteers we have the aim to engage with local universities to attempt to secure students through paid intern schemes. Furthermore, we will continue to trial new special exhibitions and tours as a way of increasing our offer to attractive more visitors.
## **Going Concern**
As reported in the financial statements, the Museum made a deficit for the year, arising as a result of the income generated through the number of visitors not meeting the expenditure associated with running the Museum. The Trustees are fully aware of the Museum’s financial position and plan to actively seek funds through applications to appropriate charitable trusts and foundations and requests to businesses in the stationery sector to support its work and cover any operating deficits whilst it continues to work to increase its visitor numbers. The Trustees have considered the finance forecasts for the next twelve months and based on the current level of visitors, even without additional funding support, they are satisfied with the Museum’s ability to continue as a going concern and Financial Statements are drawn up on the going concern basis.
On behalf of the Trustees
Paul Lindsell Chair
Dated: 23 July 2026
## **Birmingham Pen Trade Heritage Association**
## **Independent Examiners’ Report to the Members of Birmingham Pen Trade Heritage Association for the Year Ended 31 March 2026**
I report to the trustees on my examination of the accounts of the above charity for the year ended 31 March 2026.
## **Responsibilities and basis of report**
As the charity’s Trustees, you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (“the Act”).
I report in respect of my examination of the Charity’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination, I have followed the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act
## **Independent examiner’s statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. the accounting records were not kept in respect of the charity as required by section 130 of the Act; or
2. the accounts did not accord with the accounting records; or
3. the accounts did not comply with the applicable requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view’ which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in order to enable a proper understanding of the accounts to be reached.
Tracey James FCA Institute of Chartered Accountants in England and Wales
Studio 2 50-54 St Pauls Square St Pauls Square Birmingham West Midlands B3 1QS United Kingdom
Dated: 24 July 2026
## **Birmingham Pen Trade Heritage Association**
## **Statement of Financial Activities including Income and Expenditure Account for the Year Ended 31 March 2026**
|_Notes_
**Income**
**Voluntary income:**
Charitable donations & subscriptions
2
Grants
2
**Charitable Activities:**
Admission to the Museum
3
**Activities for generating funds:**
Ancillary trading activities
4
Fundraising event income
**Investment income**
Interest
5
**Total Income**
**Expenditure**
**Raising Funds:**
Other trading activities
**Charitable Activities:**
Opening and operating the Museum
**Total Expenditure**
6
**Net Income/(Expenditure) before taxation**
Tax receivable
**Net Movement in Funds**
**Reconciliation of Funds:**
**Total Funds brought forward 1 April 2025**
**Total Funds carried forward at 31 March 2026**|Unrestricted
Funds
Restricted
Funds
**Total**
**2025-26**
Total
2024-25
£
£
**£**
£
8,551
175
**8,726**
2,962
2,750
7,500
**10,250**
7,000
35,390
-
**35,390**
36,820
25,266
-
**25,266**
26,685
800
-
**800**
1,191
-
**1,191**
1,702|
|---|---|
||73,948
7,675
**81,623**
75,169|
||11,950
-
**11,950**
12,338
63,782
4,575
**68,357**
69,848|
||75,732
4,575
**80,307**
82,186|
||(1,784)
3,100
**1,316**
(7,017)|
||-
-
**-**
-|
||(1,784)
3,100
**1,316**
(7,017)|
||30,135
49,190
79,325
86,342
**28,351**
**52,290**
**80,641**
**79,325**|
The Statement of Financial Activities (SOFA) also complies with the requirements for an income and expenditure account under the Companies Act 2006. All income and expenditure derive from continuing activities.
## **Birmingham Pen Trade Heritage Association**
## **Balance Sheet as at 31 March 2026**
|Notes
**Fixed Assets:**
Tangible assets
12
Heritage assets
13
**Current Assets:**
Stock
14
Debtors
15
Cash at bank and in hand
**Total Current Assets**
Creditors: amount falling due within 1 year
16
**Net Current Assets**
**Total Net Assets**
**The Funds of the Charity:**
Restricted funds
17
Unrestricted funds:
Designated funds
18
General funds|**£**
-
14,819
69,576|**2026**
**£**
-
5,083|**£**
-
10,820
67,816|**2025**
**£**
-
5,083|
|---|---|---|---|---|
|||5,083
75,558||5,083
74,242|
||84,395
(8,837)||78,636
(4,394)||
||5,083
23,268||5,083
25,052||
|||80,641||79,325|
|||52,290
28,351||49,190
30,135|
||||||
|||80,641||79,325|
The Annual Report & Financial Statements were approved and authorised for issue by the Board of Trustees of the Museum on 23 July 2026 and signed on behalf of the Board of Trustees:
Paul Lindsell **Chair**
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **1 Accounting Policies**
## **1.1 Basis of Preparation**
The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with Charities SORP (FRS 102) 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **1.2 Going Concern**
As reported in the financial statements, the Museum made a deficit for the year, arising as a result of the income generated through the number of visitors not meeting the expenditure associated with running the Museum. The Trustees are fully aware of the Museum’s financial position and plan to actively seek funds through applications to appropriate charitable trusts and foundations and requests to businesses in the stationery sector to support its work and cover any operating deficits whilst it continues to work to increase its visitor numbers. The Trustees have considered the finance forecasts for the next twelve months and based on the current level of visitors, even without additional funding support, they are satisfied with the Museum’s ability to continue as a going concern and Financial Statements are drawn up on the going concern basis.
## **1.3 Income**
Income from admission to the Museum is recognised on the date the ticket is purchased, except for special events when the income is recognised on the date the event takes place.
Income from charitable donations and grants, both of a capital and revenue nature, are recognised when the Charity has entitlement to the funds, and it is probable that the income will be received. They are accounted for gross when receivable, including gifts in kind at estimated valuation. Donations and grants with conditions attached to them are credited to restricted funds and any unspent amounts are shown on the balance sheet as restricted funds. Where the restricted income is to fund capital expenditure the restricted fund is released and transferred to unrestricted funds on the purchase of the capital item.
Trading income represents income from retail activities and classes at the Museum and is recognised as earned.
## **1.4 Expenditure**
All costs are allocated between the expenditure categories of the Statement of Financial Activities on a basis designed to reflect the use of resources. Costs relating to a particular activity comprise both costs that can be allocated directly to such activities and support costs; being those costs of an indirect nature necessary to support them.
Fundraising costs are those incurred in seeking voluntary contributions and do not include the costs of disseminating information in support of the charitable activities. Direct charitable expenditure includes the direct costs and depreciation related to activities undertaken by the Museum. Support costs are shared across more than one activity undertaken by the Museum and include governance costs, payroll, administration, and information technology.
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **1.5 Fixed Assets**
## **(a) Operational Assets**
Tangible fixed assets are stated at cost less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, using the straight-line method, as follows:
Fixtures, fittings, plant, and equipment over 3 to 10 years
## **(b) Heritage Assets**
Heritage assets (in other words, with a few exceptions, its accessioned collections) are mostly donated items, irreplaceable and to be held in perpetuity. In the few cases where collection items were purchased by the Museum and so a cost is known, they are stated at cost. Heritage assets are not depreciated.
Establishing valuations for the entirety of the Museum’s collection is considered unrealistic, prohibitively expensive.
## **1.6 Debtors**
Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.
## **1.7 Creditors**
Creditors and provisions are recognised where the Charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
## **1.8 Funds and Reserves Accounting**
The Museum maintains three types of funds and reserves as follows.
- (i) Restricted funds include donations where the donor has specified the funds be set aside for a particular purpose. In addition, restricted funds also include grants from local authorities and similar bodies in connection with the cost of the Museum’s original operational fixed assets and its heritage assets, which have been credited to this reserve. The depreciation of the related assets is recovered from this reserve.
- (ii) Unrestricted funds represent funds that are expendable at the discretion of the Trustees in the furtherance of the objects of the Museum. Such funds may be held in order to finance both working capital and capital investment.
- (iii) Designated funds represent funds that have been set aside by the Trustees for particular purposes. The aim and use of such funds is set out in the Notes to the financial statements.
## **Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **2 Summary of Voluntary Income**
|Donations
Memberships
Legacies
Grants|**Unrestricted**
**Funds 2025-26**
**Restricted**
**Funds 2025-26**
Unrestricted
Funds 2024-25
Restricted
Funds 2024-25
**£**
**£**
**£**
**£**
2,912
175
2,119
175
639
-
668
-
5,000
-
-
-|
|---|---|
||8,551
175
2,787
175
2,750
7,500
7,000
-
11,301
7,675
9,787
175|
## **3 Visitor Admission to the Museum**
|Admission|**2025-26**
2024-25
**£**
£
35,390
36,820|
|---|---|
||35,390
36,820|
## **4 Ancillary Trading Activities**
|Retail sales
Classes
Room Hire
**5**
**Investment Income**
Interest Receivable|**2025-26**
2024-25
**£**
£
18,420
19,688
4,696
5,622
2,150
1,375
25,266
26,685|
|---|---|
||**2025-26**
2024-25
**£**
£
1,191
1,702
1,191
1,702|
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **6 Analysis of Expenditure**
|**Raising Funds**
Ancillary trading activities
**Total Cost**
**Charitable Activities**
Opening and operating the Museum
**Total Cost**
**Total All Costs**|Staff Costs
Other Costs
Support Costs
**Total**
**2025-26**
£
£
£
**£**
1,843
9,793
314
11,950|
|---|---|
||1,843
9,793
314
11,950
16,590
48,939
2,828
68,357|
||16,590
48,939
2,828
68,357
18,433
58,732
3,142
80,307|
Support costs are allocated on the basis of direct expenditure.
## **7 Analysis of Support Costs**
|Governance
Administration
**Analysis of Governance Costs**
Independent examination fees
**Net Income/Expenditure for the Year**
This is stated after charging:
Operating leases
Depreciation
Examiner’s remuneration:
Independent examination fee
Payroll, accountancy, and tax services|Staff Costs
Other Costs
£
£
-
930
-
2,212|**Total**
**2025-26**
Total
2024-25
**£**
£
930
930
2,212
2,359
3,142
3,289|
|---|---|---|
||-
3,142||
|||**2025-26**
2024-25
**£**
£
930
930
930
930|
|||**2025-26**
2024-25
**£**
£
34,829
27,509
-
5,969
930
930
-
-|
## **8 Analysis of Governance Costs**
## **9 Net Income/Expenditure for the Year**
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **10 Trustees Remuneration**
None of the Trustees received any remuneration or benefits during the year. One Trustee was reimbursed out-of-pocket expenses totalling £33. (2024-25: two totalling £194).
## **11 Employees**
The average monthly headcount of contracted employees during the year was 1 (2024-25: 1) and no employee earned £60,000 or more.
## Employment Costs:
|Wages and salaries
National Insurance costs
Pension costs|**2025-26**
2024-25
**£**
£
18,078
18,096
-
-
355
78
18,433
18,174|
|---|---|
## **12 Tangible and Intangible Fixed Assets**
|**Cost**
At 1 April 2025
Disposals
**At 31 March 2026**
**Depreciation**
At 1 April 2025
Charge for the period
Depreciation on disposals
**At 31 March 2026**
**Net book value**
**At 31 March 2026**
At 31 March 2025|Fixtures
and
fittings
Office
equipment
Total
£
£
£
1,587
48,261
49,848
-
-
-|
|---|---|
||1,587
48,261
49,848|
||1,587
48,261
49,848
-
-
-
-
-
-|
||1,587
48,261
49,848|
||**-**
**-**
**-**
-
-
-|
## **Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
|**13**
**Heritage Assets**
**Cost**
At 1 April 2025
Additions
**At 31 March 2026**
**Depreciation**
At 1 April 2025
Additions
**At 31 March 2026**
**Net book value**
**At 31 March 2026**
At 31 March 2025
**14**
**Stock**
Stock
**15**
**Debtors**
Trade debtors
Other debtors
Prepayments and accrued income|**2026**
**£**
**-**|**£**
5,083
-|
|---|---|---|
|||5,083|
|||-
-|
|||**-**|
|||**5,083**
5,083
2025
£
-|
||**2026**
**£**
120
8,967
5,732|2025
£
100
9,090
1,630
10,820|
||14,819||
**16 Creditors: Amounts Falling Due Within One Year**
|Trade creditors
Accruals and deferred income|**2026**
2025
**£**
£
577
1,205
8,260
3,189
8,837
4,394|
|---|---|
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **17 Restricted Funds**
|HB Allen Fund
Birmingham Common Good
Education projects
Collections
Website costs
Books
Women’s worker exhibition|Balance at 1
April 2025
Incoming
Funds
Resources
Expended
Transfers
**Balance at 31**
**March 2026**
£
£
£
£
£
42,504
-
-
-
42,504
2,447
-
-
-
2,447
1,984
4,675
4,500
-
2,159
2,035
-
-
-
2,035
75
-
75
-
-
145
-
-
-
145
-
3,000
-
-
3,000
49,190
7,675
4,575
-
52,290|
|---|---|
The HB Allen fund is for the ‘advancement of education to enable family and school visitors to receive a fun, engaging and informative visit’ and the Birmingham Common Good fund is for ‘capital items’.
## **18 Designated Funds**
|Fixed assets reserve|Balance at 1
April 2025
New
Designations
Utilised
funds
Transfers
**Balance at 31**
**March 2026**
£
£
£
£
£
5,083
-
-
-
5,083
5,083
-
-
-
5,083|
|---|---|
Designated funds are unrestricted funds, but nevertheless designated by the Trustees for the particular purposes of a fixed capital reserve.
## **19 Analysis of Net Assets between Funds**
|**Fund balances at 31 March 2026 are represented by:**
Tangible fixed assets
Net current assets|Unrestricted
funds
Restricted
funds
**Total**
£
£
£
5,083
-
5,083
23,268
52,290
75,558
28,351
52,290
80,641|
|---|---|
## **20 Related Party Disclosures**
Mr A C Munro, a trustee of the Museum, is the director of Midlands Industrial Association Limited. During the year, The Birmingham Pen Trade Heritage Association paid Midlands Industrial Association Limited £34,829 (2025: £27,509) relating to rent and service charges for three units and electricity charges for one unit.
**Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **21 Comparative Statement of Financial Activity and Funds Notes**
|**Statement of Financial Activity**
**Income**
**Voluntary income:**
Charitable donations & subscriptions
Grants
**Charitable Activities:**
Admission to the Museum
**Activities for generating funds**
Ancillary trading activities
**Investment income**
Interest
**Total Income**
**Expenditure**
**Raising Funds:**
Other trading activities
**Charitable Activities:**
Opening and operating the Museum
**Total Expenditure**
**Net Income/(Expenditure) before taxation**
**Restricted Funds**
Balance at 1
April 2024
Incoming
Funds
£
£
HB Allen Fund
42,504
-
Birmingham Common Good
2,447
-
Education projects
1,809
175
Collections
2,035
-
Website costs
451
-
Books
145
-
49,391
175
**Designated Funds**
Balance at 1
April 2024
New
Designations
£
£
Fixed assets reserve
11,052
-
11,052
-|**Statement of Financial Activity**
**Income**
**Voluntary income:**
Charitable donations & subscriptions
Grants
**Charitable Activities:**
Admission to the Museum
**Activities for generating funds**
Ancillary trading activities
**Investment income**
Interest
**Total Income**
**Expenditure**
**Raising Funds:**
Other trading activities
**Charitable Activities:**
Opening and operating the Museum
**Total Expenditure**
**Net Income/(Expenditure) before taxation**
**Restricted Funds**
Balance at 1
April 2024
Incoming
Funds
£
£
HB Allen Fund
42,504
-
Birmingham Common Good
2,447
-
Education projects
1,809
175
Collections
2,035
-
Website costs
451
-
Books
145
-
49,391
175
**Designated Funds**
Balance at 1
April 2024
New
Designations
£
£
Fixed assets reserve
11,052
-
11,052
-|Unrestricted
Funds
2025
Restricted
Funds
2025
**Total**
**2025**
£
£
**£**
2,787
175
**2,962**
7,000
-
**7,000**
36,820
-
**36,820**
26,685
-
**26,685**
1,702
-
**1,702**|
|---|---|---|
|||74,994
175
**75,169**|
|||12,338
-
**12,338**
69,472
376
**69,848**
81,810
376
**82,186**|
|||Resources
Expended
Transfers
**Balance at 31**
**March 2025**
£
£
£
-
-
42,504
-
-
2,447
-
-
1,984
-
-
2,035
(376)
-
75
-
-
145
(376)
-
49,190|
||49,391
175||
||Balance at 1
April 2024
New
Designations
£
£
11,052
-|Utilised
funds
Transfers
**Balance at 31**
**March 2025**
£
£
£
5,969
-
5,083
5,969
-
5,083|
||11,052
-||
## **Birmingham Pen Trade Heritage Association**
## **Notes to the Financial Statements for the year ended 31 March 2026**
## **21 Comparative Statement of Financial Activity and Funds Notes (cont.)**
## **Analysis of Net Assets between Funds**
|**Fund balances at 31 March 2025 are represented by:**
Tangible fixed assets
Net current assets|Unrestricted
funds
Restricted
funds
**Total**
£
£
£
5,083
-
5,083
25,052
49,190
74,242
30,135
49,190
79,325|
|---|---|