Registered number: 11253032 Charity number. 1180240 QUEER BRITAIN MUSEUM LTD (A company limited by guarantee) UNAUDITED TRUSTEES, REPORT AND FINANCIAL STATF.MENTS FOR THE YEAR ENDED 31 MARCH 2024 QUEER BRITATN TrfUSKUM LTD (A company Ilmited by guarantee) CONTENTS Referenee And admlDlstratlve details of the Charity. Its Trustees and advisers Page Trnstee8' report 2- 11 Independent examluer's report 12 Statement of financlal actlvitles 13 Balance sheet 14 Notes to the financlal statements 15-24 QUEER BRTTAIN MUSEUM LTD (A company Ilmlted by guarantee} REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITY, ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2024 Trustees lan Nigel Mehrtens, Chair Lisa Power MBE Katy Ashton Anjum Farna7 Mouj Anihony Wayne Snow Krislllja Omkar Antonia Denise Belchei (Resigned 12 July 2024) Dan Hoang Le Vo Robert Taylor Company reglstered number 11253032 Charity reglstered number 1180240 Reglstered offlce 2 Granary Squiire London NIC4BH Prlncipal operatlng offlee 2 Grnnnry Square London NIC4BH Company seuetary Lym)e Bradley Museum Dlrector Joyeph Galliano Accountants Simia Wall LLP Chartered Accountsnts Devonshire House, 582 Honeypot Lane Staamore HA7 IJS Bankers Nat Wesl 10 Ststion Rd Clacton-on-sca Essex C015 ITA Page I QUEER BRITATN MUSEUM LTD (A eompany Ilmlted by guarantee} TRUSTEES, REPORT FOR THE YEAR ENDED 31 MARCH 2024 The Trustees present their annual report together with the fmancial slaternents of the Quew Britain Mugeum Ltd for the period l April 2023 10 31 March 2024. Objectlves and Aetlvities Our purtM)S¢ The purpose of the chariiy is to establish and operate a museum. for the benefit of the public and primarily focused on the education of LGBTQF issues including: (l ) The advancement of humam rights. conflict resolution or reconciliation of religious or racial harniony or equality and diireT81ty. (2) The advancement of the culture, heritage or scienc¢; and (3) The advancement of education. Queer Britsin works to Reelalm and Preserye ¢￿eeT people's stories and objects and lllsptre by celebrating and educating about LGBTQk lives, impact and cujtwe through estsblishing a (k.diLated museum. Tn shaping the objectives of the charityg the Trustees have Gonsidered the Charily Commi&8ion's guidance on public benefit. The following paragraphs describe tbe activities undertaken to deliver public benefit. Achievements alld Performance l. Introductlon This period has been of vital importance to (￿eer Britain. Tt IS OUT 6th year since registering as a charity in 2018 and our secorKI year open to the public as the UK'S r￿st - and only - LGBTQk museum. If tbe focus ill years 2018-2022 was on building an organisation alld securing our first lease. 2022-2023 was f￿USed on building the tea￿ fuTKtraising and opening our doors to the public, 2023-2024 has been about learning how we can diversify our audiences and offer community value in line with OUT charitable objectives - a8 well as ensuring that the museum worked financially. In our second year open at our Granary Square site in Kings Cross, we welcomed approx, 33K visitors; these visits are from people who have never iisited the rnuseum before. and those who have n￿de multiple repeat visits. OUT feedback shows Queer Britsin to bc a warni and wekomin8 space where visitors oY¢rwhelmingly feel 8¢c￿ representcd and celebrated. Not only have we built on the learnings from our first yedr open, during this second year in our fwst physical museum we have grown the team to I I people: dclivered the second year of the Madame F Queer Britain Art Award; have llnpacted our local community through various excAtin& thought provoklng projects, and participated in external events. We have accessed increased sources of funding9 run a successful crowdfwxling campaign and attracted new Patrons and companies to support Queer Britain. In addition we were nominated and shortlisted for the Museums & Heritage Visitor Welcome Award in May 2023, a(K1 aL80 negoliated an extension on our lease for our Granary Square home. During our secffld year open, we worked to build on the following plans: To ellsure our exhibitions, disp]ays and prograrn￿g are presented in an engaging and informative way; To offer opportunities for people to engage through volunteering opportunitics and evellts; Raising awaren&￿ of the museum through socials. marketing and PR; Building on existing relationships and partnerships and develop new ones to support all areas of Queer Britsin's worl. To maximise income and diversify funding 8treams; Further develop our governance and finance structurog. As exprcssed ID our Business strategy, wc are r￿M]Y now An our Momentum Pbase; the growing of the organisatioa, profile and experience of the museurn and w'orking towards finding our Kxl home. Page 2 QUEER BRITAIN MUSEUM LTD (A Company Ilmited by guarantee} 2. Vtsltor Overviejv Thls Is a place for alL regardless of sexuallty or geiider Idcntlty.. Visitor numbers give us an exciting metric for SUCLess; they give us a me&sure of the impact of our work. 2023-24 saw the museum averaging approx. 3K vi8ltors per monih, with the highest month being in April 2023 wilh 3.4K. We count everyone who enters the museum at the front door. and this data shows a seasonal pattern with Febnwy (Nyhich is LGBTQfr History month), June (Pride) and more 8enerally the sumTner bcing our higbcst traAiL nx)nths. We aim to grow audiences, Yegionally. naiionally and internationally, through the exhibitions, displays we presthtt and the programming and community evellts we facilitste. Wc use our lower ground fl(x)r studio to workshops - and we thit]k of this as the Engine Room for driyiag engagement and have been running Arts Council England funded artistic residencies for und¢r-repr&scm¢d communities. OUT community events (especially the commullity residencies) have proven to be an impacthil way of thversifying our audt¢nces, enBagAll8 those visitors who llced encouragement or support to access the museum and its collection, and increasing inclusion. When we think of inclusion, we are always thinking of economic and social inclusion - aud as such have worked hard to ensure that the museum remains free to visit and that we have renwvcd as many barriers to enty as possible. We wish to demonstrate inclusion in every way, and economic inclusion is incredibly important for us to encourage communiti¢s that traditionally may never usually access museums. The museutn is open from Tuesday to Sunday fronj midday until 6pni year round, except between Christmas and New Year. Wc encourage visitor feedback and have been grateful and overwhelmed by the warni reviews we receive. We encourage feedback via our hello@queerbriithn.oig.uk email aecuunt: our 8uest book in the muscum: in person to our Welcome Team and volunteers; Google, TripAdvisor and FacelK)ok reviews and via our social media platforwts. We are a]so lookin8 at other ways to caplure thi8 feedbaLK most notably through a comD]ents box and audience survcy which we are planning for the next reporting year. 3. Collectlon and Exhlbttlons We Are Queer Brllaln The f￿st fully curated ex]ul>ition in our f￿st pbysical honE, opened in July 2022 marking the 50th anniversary of the UK'S fwst Pride Tnarch. The exhibition is u diverse and rich arrny of objects and images on display that combines voices and 8tOria8 fr(xn the worlds of activis￿ arL culture and social history and covers over 100 years of Queer life. It was designed to mark 50 years since the UK'S fwst Pride march. in 1972. Since the opening of the exhibition. seveTal loan piece8 have been returned and r¢place(L and. alongside this activity, changes were made to our two smaller galleries. This gave Op￿rtUnitieS to increase community participation and to create a space to showcase new pieces in our L'ollection. These changcs eL8ure the exhibition evolves and gives visitors a reason to rets]rn to the museum as well as fulfilling our lender obligations. esin lude: Oscar Wilde's Reading Prison cell door (kindly loaneAI from the National Justice museu￿ Nottingham) sadly returned home in July 2023 and w'as replaced by a handmade tapesty made in Paris by the artist, Pierre Marie. The tspestry, called 'The Dreamers. was focused on UK based illfluenlial and inspiring figures in the LGBTfv community. and donated by the retailer who con]mis8ion¢d thc pic￿. In October 2023, we showcased a quijt by renowned cartoonist David Shcnton called MJ? Four Weddipi&s and a Fimeral. The quilt tells the story of equal Ma￿lage in Brltain through the p¢￿0￿&1 experiences of Shenton; the qui It's frame is made usin8 fabric from Shenton's late husband's clothing. In November 2023, we ex2ul)ited seven SeedbOxe￿ sculptures, made by the artisL curdtor, activist and Queer Britain patron. Guy Burc]L Each seedbox represents a friend who died from AIDS, and is modelled on an ancient Egyptian tomb figure. The 'seed boxes, represent a memory that continues to grow after death. As with David Shenton's wrork we were deeply tsjuched to be trusted with such personal and resonant objects. Oiher loan Ilen￿ include pieces from thc Museum of London, Charleston Tru8t and Bi8hops'gate Jnstitute, as well as many illdividiials. Special thanks goes to private lenders Guy Burch, David Shenton, Sadie Lee, Rachael Hou8¢, Dawn FToskin, Jon Ly3 Turner, EJ Scott. K ChaTlesworth and Olly Alexander. Page 3 QUEER BRrrAIN MUSEUM LTD (A Company llmlted b). guarante¢} Our Colleetion The museum has a developing Colle￿10￿, which is Currently SPTead acr088 two site8; the Collection is hosled ￿ the Bishopsgate Institut¢ and l(x)ked after by their Liknry and Archives Managcr. Stef Dicke￿, and his wonderful teanL A smaller part of Ihe collection is held ID house at Grdnary Square and mana&yed by our Head of Collection (Curator), J¢nnifer Sheaman. Our colleetions policy was estsblished in 2020; we wer¢ initially opportunistic in our Colle￿In& but now have a fornialised procegs for acqutSl(ions and loans. This pttKess help8 US to manage and record objects when tbey come into our care, andhelps us to shape our collection responsibly and strategically. We are also working on C￿atIng and following best sectOT practice. Our eollextion helps our visitors connect with the pasL as well as connecting with Queer Brilain'ii themes and purpose. Publle Programmlng Throughout this reporting period our Programming and Community Events Manager, Nan Carreirffj has develO￿d a high quality schedule of events that draws on th¢ muscum's collection, link8 in with key dates in the LGBTQ+ calendar alld helps in fulfilling the museum's rnission. These ei'ents have proved to be a core way for us to engage with audiences and attract new and repeat visitor3; events have also provcd to be successful ffl wclcorning community members who mighl not otherwise ￿lsit a museum. Across the 202>24 reporting perio¢ we have delivered fourteen events in our shldio space, with over 340 attendees, averaging out at nearly 25 attendees at each session. Thcmes cov¢red by th¢5c events include: July 2023: Oscar Wilde's Prison Door; LGBTQF Laws and Imprisonment; August 2023: Calm Carving with River hkningg Scptember 2023: Bi+ Zine WorK￿hop. S¢p*mber 2023: Queer Joy and Resislance: an intergenerational conversation (Partnered with British Museum Youth Programme and Tonic Housing); September 2023: Bi+ Lines Poety Reading and Open Mike Night; October 2023: Black History Month Life Drawing; October 2023: De-Bias Workshop with Europeana; OctobeT 2023: R(rtimi Fani-Kayode as Inspiration talk by Robert Taylor; Noycnkner 2023: Section 28 Panel: Arts, Politics and Social Movements; December 2023- HTV Panel: visual culture before and after the epidemic: January 2024: Tarot Workshop: A journey into Queer identity exploratio February 2024: LGBTQF History Month: Mapping wellbeing workshop; February 2024: LGBTQF Hislory MoTrth: Trans* healthcare panel. March 2024: Marriage Panel - Celebrating 10 years of LGBTQ+ marriage. Alongside this, we ran a successful Crowdfunding Campaign collaborating with ArtFund and using their Arf Happens crowdfunding platforni. (see section 4 for further details). This w'as also funded by Arts Council Englart The residencies were designed to engage with historically under-represented LGBT(IF communiiics. The three communities served by the residencies were Gypsy and Roma Travejler people (from January kn April 2024); Migrant and, East A8ian Cojnmunities (both of wbiLh will be included in the annual report for the 2024125 period). Each residency consists of 7 weeks of creative sessions where participants explore their idontities and learn artistic ski115 through expert-led workshops, as well as archivin& conseryation and curation. The groups collectively decide a fll￿ outcome (in the form of a zines an installation. film or other forn￿ of artwork). some of which is then archived in Queer Britsin's collection and shown in the gallery in a final display curalcd by the group using skills gained and nurtured throughout the residency. We continue to maintain Telationship8 with the communities after the re8i&ncy 18 complet¢d in order to foster longer lasting. deeper and mor¢ diverse relationship& Both the regular events and the community residencies have hejped to encourage and improve diversity among our visitors and Tcpresentation An our displays and exhibitio Page 4 QUEER BRrrAIN MUSEUM LTD (A Company Ilmtted by guArAntee} 4. Event& Aetivltks Projeets During 2023-2024 we held 84 events; these included with cory)orates, charities and higher education institutions, union8, local counci18 a￿1 sLh(x)Is: and thcse ranged from private tours of the Museu￿ receptions, tours, panel talks. workshops and b(x)k launcbes. We have also supported orgyanisations such as the NHS for their blood drives to make bl(xxl donation more inclusive of LGBTQ+ donors; Opening Doors, the largest UK charity providing events, infOrn￿ll0n and support scrvices for LGB'fo+ people who arc 504.. and Schools OUT UK an education charity with an aim of making schools safe and inclusive for all. Some other notable events and project8 include: Madame F Queer Brltaln Art Award In partnership with wine brand, Madame F. we ran our Art Award for the second time and prepared for its third year. This second year saw over 140 submissions. rangTng from illustrations. paintings, draw'ings and photographs. We asked the artists to 8ubmit a statement explaining what the theme Qucer Creativity meant to them. The top three winners receive a cash priz@ of £1,500, £1,000 and £500 with their artwork shown in the Museum and featuring on official merLhandise, to support Queer Britain, the UK'S only LGBT(IF museunL The judging panel consisted ol. the fllSt and second prize winners from thc previous year's Art Award, Sadie Lee and Paul Hart]eet: Kate Clwleswl)rt￿ a cartoonist and artist; Lewis C(rner, Editorial Director of Gay Times: Robert Taylor, a photobyrapher and artist; Asifa Lahore, UK'S fim out Muslim drag queen. Ali Romagnoli, a photographer and artist. Ben Golik, Chief Creative o'fficer at M&C Saatchi; lain Muggoeh at Madame F, and Queer Britsin's Head of Desibyn and Special Projeth at Queer Britain, MaTk King. Chrlstle's Late At the end of May 2023. Queer Britain teamed up with the iconic auction house f(Y a special Pride edition of Christie's lates. The after- hours evening was dedicated to the LGBTQt Gornmunity in the Tun-up to Pri(k month in London. It featured art exhibitions, thought- provoking panej discu,8sions exploring tOPiC3 ran8in8 from Shakespearc through to the homocrotic art markc4 drag costum¢s, DJS and a voguing n￿Way. Queer Britain t(x)k over the St. Jarnes's Galleries with a display from our collectiofy rnixed with works from upcoming Christie's auction8. Queer Joy Open Alr Exhlbttlo From the be8innin8 of June to the end of Au8USt in 2023, in partnership with Skittles, Gay Times and Getty In]ages, Que¢r Britain held a free, open air exhibition called Queer Joy across the King's Cross neighborhood in London. The 50 striking portraits of queer people. captured by emerging LGBTQ+ photographer5 from the UK and abroad, aimed to shine a light on Ihe unfiltered, qucer self-expression that is vital to the LGBTQ+ communities. The project Is part of A multi-year campaign that sets out to fill the gaps in the LGBTQ+ archive, as images were often omitted, erased or noD-existenL I￿vIng an LGBT(y shaped hole in narratives about the past. The exhibition is desigtjed to ensure the archives of tomorrow are as diver8e* representativ¢ and inclusive as they should be. This was led by our Trlead of Design and Special Projects, Mark Kin& who was also a jLtdge. Queer Market In partnership with King Cro&8 estate. we curated a Ihree day Queer market during Pride month. Our Visitor Experience and Events ManageT, Andrea Cerrato, led this and we had l O LGBTQ+ vendors running Inarket stalls and selling artwork, jewellery, ceramics, badges and coffee. This led to an uplurn in museum f(M)tfall for the day. The Queer market was t'eatured in Time Ou¢ London; London on the Tnside (newsl¢tter); London Evening Standard (print and online); London Daily News; Secret London. an(L an inteTh'iew with our Director in Conde Nas¢ Traveller. Summer Sounds 2023 Working w'ith Kings Cross Estates and the Art TrusL Queer Britain's Communications and Relation8 Manager, Katie Dick, curated a night of LGBTQ￿ Juusic as part of a frec, annual 12 day festival. We had pcrfOrnw￿es from Asifa Lahore, Ellauro and Tom Rasmussoll on the War￿ August eveuing. The evening was projnoted by Kings Cross Estates in a mail out and a boards outside of Kings Cross and St Pancras underground and railway Stations. Icons In Denlm - A Queer Perspectli'e At the end of Sepicmber 2023, Queer Britain collaborated with longtime supporters, L£vi's. in a pop up exhibition featuring iconic outfits from their archives in San Francisco. Many of the ouffits were displayed for the f1rst time outside of the United Ststes. Pl￿eS included Jak¢ Gyllenhall's Brokeback Mountain costume lo a 60's Lesbian Hell's An¥els gang jacket, and eosturnes made by Elton John, The Andy Warhol and Keith Haring foundations an￿ most movingly. an outfit belonging to ass'assinated American politician, HaTh'¢y Milk. Pagc 5 QUEER BRrrATN TrIUSEUM LTD (A company Ilmlted by guArantee} The star piece was a pair of 501 s belonging to rock icon, Freddie me￿Ury. acquired only days before in the Sotheby's auctioTh Freddie Mercury.. A World ofhis Own. A number of press interviews were arranged and social media influencers attended the exhibition; the exhibition wa8 also featured in the Evening Standard and online blogs SHOW Studio and cult￿ amongst others. Ampllfylng People's Volcey - A Crowdfund Campalg Tn October 2023 we launched a month_long crowdfunding campaign to raisc nx)ney lo develop two new comrnunity projects. These projects aim lo amplify PLrsonal perspectives fmm different LGBTQ+ conununities, with a Focus on providing comrnunity members Ivith rLsource8 to tell Ihcir storiLs in thcir own way. This croivdti]nding project was led by our Operatio￿8 and Finance Manager, Max Wolffe, and CoinrnuniLations and Relalions Manager. Katharine DiLk. The hvo projects were: The Community Residen¢ies sen'es (fvriher delaily In Seclion 3.. h4b7ic Pmgrnwining) invites individuals from marginalised communitjes to reinterpret our collection through their personal experiences and identify gaps and mAssing stories. They address these in a manner of tbcir cboosing, devcloping creative skills via bespoke workshops and work towards an outcome that can be shared with th¢ public. The participants decide the fom their outcome will take - it could be a zine, an event, an Installation - and a version or copy is pres¢rved in the (2ueer Britain collection. Ac'Lwlble ￿￿di0 guide and st()ry arehiwngproiert Supports the preservation of cornmunily histories and personal narratives, and improves access of Blind and Partially Sighted people to our exhibitions and collection. With the funding raise4 thc audio guides will be created with community members in 2025. Th¢y will include audio descriptions of the conienis of our exhibitions and collection, enriched with the memories, St￿ICS and rellections of participants. li By Ihe end of the rnonth-long campaign we were 112Yo funded from 266 backers, raising £28.9k.This was hugely helped by DIVA, Gay Times and Gay Star News sharin8 about the campaign on their social media platfornjs: it was also promoted by Art Fund as we used thcir crowdfunding platforn). A film to promote the launch of the Crowdfunding Campaign was played 36.992 times by 28.839 people. Queer Britaln x Aunt Nell - Mlndsets + Mlsslons Queer Britain collab(￿ated with Aunt Nell (a podcast Production company) for a project focussing on capturing oral histories from LGBTQF pe(yle throughout the UK, ensuring that these stories are shared and our history preserved. The work is possible thanks to a 8rant awarded from Mindsets + Missions (funded by the UK Research and Innovation and administered by the MUS￿M.S A&sociation). The UK'S queer history i5 at risk of loss, as much is held in the agcing human record (living memory) and in private, informal and unrecoided archives and collections. Untold stories are also held by a diverse range of LGBTQF people who often fcel excluded Irom museums and wider culturnl activity. This project aims to increase recognition of Oral histories as valuable and impactful research practices and resources and to increase the natioll's holding of such important Ijist￿iCal records. It also airns to furthcr rethKe barriers against full inclusion of qu¢er heritage in Ihe traditional Galleries. Librarie& Archives and Museums sector. This work will be done a¢ross two years, 2023124 and 2024125; this and the next reporting period. Volunteen We recognise and acknowled8e the r¢liance we placo on our magnific¢nt pool of volunteers, who we really could not operate without. Our volunteer programme is thriving with pe(4)le who play an important role in helpin8 us protect and charnpion LGBTQ+ heritage. As a new cultural institution, we cannot open or function without the support of our generous volunteer community and cannot fully describe our gratitude to thenL Welcome T¢Am Volunteers We recTUit ts"o cohorts of Welcome Tearn volunteers per year. once in April and then again in October. The Welcome Team and longstanding volunteers help with the recruitment, induction and training of new volunteeTr. Our volunteers ar¢ trained in order for them lo have a baseline set of skills for them to build upon throughout their time with Queer Britain, and to make them feel comfortable in welcoming our visitors into the museum. They are trained to give our vi8ltor8 a consistently wann welcome. They are also trained iu health and safety. fire Safety and evacuation and any instances of safeguarding under 18s and vulnerable adults. It is important that this training not only offers Tr'alue to the charity, but to the volunteers themselves in tern18 of their personaj, wial and professional development. TIK expectation is that our volunteers do at le&st one shift per month and are involved in all aspccts of the front of hou8e experience: Page 6 QUEER BRITAIN MUSEUM LTD (A company Ilmited by guarantee} welcoming visitors at the door. helping Ihcm wilh purch&sing from the museum shop. resi￿kIng shelves in the shop, invigilating in sal1¢ri¢5, and supportln8 the Welcorne Team l¢ader8 during ¢Y¢nts, workshops• panels and ts1k8, Tn order to thank, engagc and retain ow volunteers, we have developL￿ a social calendar involving reclpr(Kal museum Vi81LI, garnes evenings. evenings out and film screenings. We run volunteer summer picnics and Christmas gel-togethers. As part of ers. During the year I S newsletters were sent out kccping our followers enthused and up to date on changes in the exhibition; new displays; recruitment drives. additions to our collectio events, talks and workshops. Soclal Medla: Social media allows Queer Britain to expand the museum (￿tsIde of the physical walls, and create an ever-expanding and changing digital museum. Activity acmss our platfOrn￿ (this year. predorninanily Instagram. Linkedln and Facebook) allows us to: Promote events and other activities within and outside the muscum" Fundraise for the museury e.g. Crowdfunding campaign: To initiate. grow and maintain relationships with our comrnunities and supporters; Actively engage with other Queer organisation& e.g through our Commurrity Boards that have been introduced: Connect with a younger audience ~ our largest age demographic is people aged 25-34; Connecting with audienccs who may nol be able to physically access the museum - approx. SK of our Instagram followers are from outsi(k of the UK; Expand the museum outside of the museum space, and cxplore Queer history in more depth; Nurture relationships with our partners, neighbours and supporters, e.& Diagio. Levi'8, King Cross Estates" Madame F, Skiltles. X (fOrn￿TlY Twitt¢r): in July 2023, due to various reason4 the (kcisioll wa8 taken to lÉmit our a¢livity on this platform due lo changes ID the way it was being run. Wo (k> however continue to post announcements and anniversary posts on the platforn) - even with our minimal engagemenL we gained over 6(K) followeTS tsking our total ts) oi'er 20.8K followers. Instagram: Followers have increased from 19.2K followers to 24.3K. Tt 15 by far our most en8a8ed-wiih platforni. We posted 162 grid posts and Tegularly post on stories. Our post engagemeiit rate is 7.92 /0 which is considered excellent (the norni is around 3 % ). We reached 1256.901 user accounts acro&8 the platform. rneaning our posts are being seen by large pools of people who do not follow us directly. Notable dates and e￿entS on social media include: Queer Brltaln'l Flrst Birthday: we shared user-generated content (photos taken by our visitors to the museum) to celebrate our birthday. We reached over IOK user accounts and received >2.3K 'likes.' Volunteer Rttruitment: Using a photo of our Welcome Team to advertisc new volunteer opportunities, we reached nearly 12K user accounts and 1.3K 'like8.' Queer Marketr. to advertise the Queer Britain curated Queer Market (what is usually the Canopy Market), we postcd a market reel tu advertlse - it was our most liked reel of Ihe year with over 1.5K ' likes, and 19 comments - lots of audience engagement. UK Black Prlde: Posts showing the QB team and about in thc communities always generate lots of engageinent. Madame F Queer BritaAn Art Award: Social mcdia played a cnKial part in pmmoting the award and the aii'ard genernted community enga¥emcnt. Page 7 QUEER BRTTAIN TrIUSEUM LTD (A company Ilmlted by guarantee} Crowdfundlng Coal Reached: Social media w'as a ffljcial part of our crowdfunding campaign and our followers shared Ilie joy when we hit our goal. Travellerfr Communlty Resldency: a post about our r￿st community residency brought new followers and ¢nga8ement to our 8ocia]s. Llnkedln: We use this platforni to maintain professional relationships and share news alx)ut the organisation. most of our posts r¢late to important updates, anniversary dates and job vacancies, We have >3.5K followeTr. an increase of just over l K from the previous reporting ycar. Our top performing post was the atmouncement of our Director's MBE award Faeebook: We gained 342 followers on this platforni giving lis a lotal of over 2.6K followers, and an engagemeot rnte of 4.540/0 (anywhere between 1-5 % is considored good). Our reach was 58,704 user3, which means that our posts are largely being seen by accounts Ihat do not follow us direclty. The Q.ueer Britain wcbsite trdffiL figures for this reportAng period have increased massively and stand at an irjwressive 290.7K total views and 127.1 K uiiique view8. As per last yeaes figures, the spike comes during LGBTQ+ History month and again duTing Pride month. Fundralslng Queer Britain is a young charity that h&q expanded at speed, it 18 Ih¢r¢fore paramount that we ensure w¢ are a sustainable organisation. 0￿ plau for the y¢ar Wds lo f(Kus on core costs, but also to develop projects and opportunilies in ordcr to source fundin& Corporate Sponsorship Queer Britain's Team and Trustees would like ts) thank the following coTrorate funders for their much valued support over the last ycar; Levi's: Ernst and Young; Fitch; Universal Music Operntions Ltd. Sony Music Entertainment UK Li(L aTKI our lead sponsor. Diageo. whose generous unrestricted donation allows us to contimie with our invaluable work for the communities. Indlvldual Glvlng As always, we are indebted to our Patrons, both new and long-standing, as we depend on their generosity to develop our work. They coniinue to fonn the foundati0Th8 upon w'hich we have built Queer Britsin: FOUNDING PATRON AMBASSADOR: Carolyn Ward. FOUNDING PATRON: Brian Bickell; Da￿d Levine. COLD PATRON: Elizabeth Bingham OBE: Elliot Vaughn: Jesse Hollister and Tim Volkheimer. Paul Reed: Wayne Snow and A]lister Dennis. PATRON: Dr Ann Limb CBR DL: Derek Frost and Jeremy NOrn￿Tr. Guy Burch. HUM. Morris; Jeremy Gros¢ and Manvan Badran; Jim Ford; Justin D'Agostino MH. Mike Anderson. Neil and Stephen Bentley-Gockinann. Nick Major, Sir NiLk Partridge: Oskar Yasar and David Broome. A very special thank you to Capital Group whose slaff continue to allocate gift8 to us via their generous staff ￿￿ltY and Justice donatio and grants sL'heme. Membershlp Our member8 are a dedicated community of supporters who make regular donations on a monthly or quarterty basis, giving anjthing from £1 to £100 per month, but mostly in the range of £5-£10. In Decem￿￿ 2023, iY¢ surveyed our memb¢rship's views to understsnd how they saw themselves as a group and what they wanted from Queer Britain. One theme that was highlighted was the desir¢ for nKmbers' events. although we w'ere very conscious that not all of our m¢mbors ww¢ near to our physical location (in London). Responding to this, we held hvo member events during thc period (one in person and one ￿line) and planned for a third in the fwst few days Df the next reporting period. These were: A birthday party to Celebrate one year of opening as a physical, bricks and mortar space; An online tour of the museum and an overview of the cljarity. A panel talk with the Polari prize winneT, including Paul Bristow. Jodie Lancett and Jon RansonL Alongside this. we worked with the London Art Fair to provide Queer Britain D]emben with frec tiLkcts to the London Art Fair. Fllndlng AB outlined in sections 4 and 6 of this report. Queer Britain received restricted income to 8UPPOrt somc dedicatcd projects and initiative: Mindsets and Missionts, funded by UK Research and Jnnovation and administered by the Museum's Association. We receivcd £74.8K for Stories and Strategies: diversifying our national LGBTQ+ heritage. our Oral History re5earL'h and podcasting project in collaboration with Aunt Nell. Page 8 QUEER BRITAIN MUSEUM LTD (A company Ilmlted by 2parantee} Arts Council England iii support of the Comrnunity Residency series - we received £28.5K, and this was matched ty, Art Happcn3 Crowdfundw (T¢c¢ived £28.9K) to fund prOJ￿IS. Community Residencies a￿1 Accessible Audio Guide (scheduled for 2025). Please note, that the income grants mentioned above differ from th08e refl¢ct¢d in the accouirt8, due to deferred income adjustments. Income Generatlon InL'ome for the museum is geDernted through a widc range of activilies that fall within the museurns. charitable aims. These include learnittg activities via sale of services (worksbops/ panel8J in conversations) that furth￿ the ajarity's missioffj or via the trading subsidiary, Queer Briiain Tradlng Limiied. estsblished in September 2021. to nmnage our non-PTimary purpose trading: Retail Operallon As well as increasing revenue for the museum. our shop 15 a kcy attraction for our visito￿. it is designed to further our educational mission through the offering of products that complement the obJ￿ts and activities within the galleri&s. Our aim 18 to ensure OUT offering is mostly supplied from Queer creatives. Throughout the year, we have experimented with additional retail opportunities, i.e. summer and Christmay Queer markets; Queer tsTOt workshops (to cornpliment the Queer throt sold wiihin the shop) and book launches. The year proved to be profitable for the shop, and in turn the charity. Venue Hlre As with retail, I'enue hire falls under our commercial offerin& and Ihese commercial rei'enue slTeams help to deliver the museum, objectives. Other charities, educational bodies. private parties and corporates hir¢ our space for meetings, panel disc￿s1OnS. Workshops, screenings and talks - Ihis helps Q.ueer Britain strengthen relationships with our neighbours, conUm￿ltIeS and olher or8anisations. Staffing 2nd Trusteej During the reporting period, the core team was 11 (8 FfE), and part way through the year we had two consultants com¢ on Board to work on the Missions and Mindscts projecl, who were prnjecl funded. lThe senior team consists of the Director, Head of Opei'ations, Head of Design and Special Projects an￿ Head of Collection (Curator) with four rnanagers and Ihree part time Welcome Team (Fronl of House) members. All menthers of our core team bave a clear, agreed job description and objectives for the year. Team member5 havc areas of acC￿￿tabIlIty and are expected to attend regular I . l Meetings with their line manager to ensure they are on-track with these objectives. We have introduced monthly team meetings where ideas are shareiL there are regular updates on the Organisatio￿ events and inili8tive5, tea cohesion, aligmnent and engagement. These meetings ensure that the team contributes to the nmning and perfonnanc¢ of the organisation. During the reporting period, our Trustees who served on the Board were split as follows: 4 females and 5 males. The Board ens(W￿ good governallcc and stralcgic direclion and brings diversc skills, experience and expertise to the organisation. Tn￿teeS have renmkned stable this year. but there are plaTLS for a skills audit in the next Tel￿7ng period lo ensure we have the right skills in place for a fast paced organisation that is evolving rapidly. 10. Covernanee The Charlty18 a cbarltable company Ilmlted by guarantee? governed by tts Memorandum and Artlcles of Assoelarfom. The museum is overseen by a Board of Truste&8 whlch is chaired by Yan Mehrtens, it meets quarterly and is governed by its Articles of Association. Queer Britain Museum Ltd is a charitable company lirnited by guarantee. The Trustees have eslablished an Audit and Risk Committee, which convenes quarterly and is chaired by Wayne Snow. Trustee. This 8ub- committee has delegated T&8ponsibility to oversee SYSten￿ and procedures to mana8e risk, and also reviews and recommends Ihe annual ieport and accounts to the Board of Trustees. The recommendations of the Audit and Risk Comrnittee are sent to quarterly Board meetings for the Trustees to debate and approN'e or Teject. In early 2023, the c]Mrity Board dclegat¢d responsibiliti¢s for identifying and locating Queer Britain's next physiL'al home to the Propety Steering Group; the group is made up of the Chair of the Board (lan Mehrtens); the DirKtor (Joseph Galliano-Doig); alongside external members Brian BickclL Ollie Saunders and Glenn Dunn. witb back¥rounds in ￿al estate, expertise in property and a commercial r¢al estste lawyer. Regular updates are fed into the quarterly meetings of the Trust￿. Thanks is ex*nded to trustee Antonta Belcher for her 8SiStan¢¢ in establishing this steering group. Queer Britain's Trading Limiied. Ihe trading subsidiary is chaired by Lycia tA>bo. Commercial Direclor at English Heritage. and meets Page 9 QUEER BRTTATN MUSEUM LTD (A company Ilmlted by guarantee} quarterly. During the year, the trading subsidiary completed a 8kills audit and il becaTne clear th¢Te was a need for financial and legal expertise on the Board. Recruitinent for Board mernbers took place in late 2023/early 2024 resulting in two new non-exeeutive Director8. Our Board now numbers thrtt males and three ten￿leS with expertise in finance. heritage commercial operations, investment management and ￿lsual merchandising. Board Works closely and collaboratively with the Museum Director and the Senior mana&iemem team. Future plans for the Trading Board inLlude organising a strategy day: implementin8 a GovernallLe framework and principles tsble, and inirstigatingl researching E_comrneree opportunities and further skills audits. Rlsk Management A risk register is maintained for th¢ charity by the Head of Operations and the Museum Director, and 18 revicw¢d quarterly by the Audit and Risk Coinmittee. Straiegic risks are assessed on the basis of probability and the impact of an outcome, and raied as low, medium and high risk Risks fall into the following themes: Environn%nt and External Risk; Operational; Financial and Compliance and are constant]y tracke(L A simllar risk register f(K (￿eer Britain Trading LiTnited has been initiRted and 18 also maintained by the Head of Operations and the Miiseum Director. The risk register is reviewed quarterly at eaioh trading board and is otwationaL by necessity, compared to the charity register. 11. Plans for the Future Our ongoing aim is to devclop under the following themes: Audlenee Reaeh and Engagement: to incrcase and better un(lerstand our Audienc￿ physically and online. and more specifically. to incrLYSe the diversity of our audience through programming, cvents, Larefully curated displays, exhibitions and activities. Flnanee: lo build on the reveuue Streams we currently have and to increase turnover via fundraising through PatroLs. membership. partnerships and sponsoTships. Exhlbltlons and Dlsplays: building on the quality of experience and giving the audiences reasons lo return to Queer Britsin. Queer Brltain Home: To develop a strat¢gy to pursue Queer Britain's next home. ACE Acereditatlon: To ensure Queer Britain is recognised as a museum that is Working to best practice in ternis of governance and eorporats rnanagemenL collections care and managemenc and inforn)ation and services provided to users. It is a rAtionally approved Stalld￿d and will give the charlty access to additional funding opportunities. 12. Constltutlon Queer Britain Museum Ltd (the Charity) w'as established at the Charity Commission by a Memorandum of A&8ociation on 8 October 2018, and our number is 1180240. The charitable company was incorporated at Companies House on 13 March 2018, company number 11253032. Queer Britain Trading Limited was incorpornted at C(Aywnies House on 16 September 2021. company number 13626046. 13. Flnance Reilew Since opening our doors in 2022, Queer Britain has grown rapidly as we have established oursefves as a fi￿]y-fledgCd Museum at the Lutting edge of the UK'S Iieritage sector and at the heart of the LGBTQFF Community. We recognise that rapid growth in the organi5ation has rneant that fundraising has to be at the heart of everything Queer Britain do¢s. An explosive grov•'th in donations received in 2022-23 reflected a period of newTress and excitement around the opening of the first brieks-and-mortar LGBTQ+ Museum. We are encouraged that significant support has continued into tILe 202.3-24 fmancial year, and we are focusing our work on developing Jong-ter￿ stsble source8 of income to sustainably fund our activities into the future. In addition, we have implemented strong financial controls. We have consistently operated within our reserves policy. despite increasing the reserves policy to cover two to three months expenditure. Income from donations and grants totsled £553,470 in the year 2023124 as described in note 3 of the financial statements. Total income wa3 £670,688. Expenditure was £691.768 resulting in a loss for the perio(1 of £21,080. Higher expenditure was primarily due to an increase in Queer Britsin's staff costs as compared to the previous year, witb totsl staff Costs of £382,934 as conwed to the prior year of £276,687. This reflects the ￿QWth of the core twn, a vital prerequisite to delivering on OUT mission. It was also driven by inflationary pressures in the wider economy, and the need IA) attract and retsin the best talent. At the balance sheet date, the charity had general cash r¢serves of £246,923 and total funds carried fonvard of £219,.53 J 14. Golng Concern After making appropriate enquirie5, the Tru8t¢¢s have a re&gonable expectation tIMt the charity has adequats resou￿e8 to continue in operational existence for the foreseeable future. For this reason they continue to adopt the going concern basis ill preparing the financial statements, Page 10 QUEER BRITAIN MUSEUM LTD (A company Ilmited by guarantee} 15. Reserves R¢serves ar¢ tthere ￿ proiect the Charily against drops in income or to allow it to take advanlage of new opportunities. Charity resm'es can be spent on the aims of the charity. The Reserves Policy for the Charity is reviewed at rcgular interyals by Ihe Audit and Risk Committee; 81 the end of this reporting perio(L the current reserves policy requires the organisation to ]M>ld unrestricted funds for at least three rnonths expenditure (raised frorn two months in June 2023). Statement of Trustees9 Responsibilities The TTUStees (who are Directors of (￿eer Britain Museum for the purposes of company law) are responsible for preparing the Tn￿e5, Report and the fmallcial statement in accordance with applicable law and United Kingdom Accounting standards (United Kingdom Generally Accepted Accounting Practice). Company law requires the truslees to prepare financial statcmenls for each financial year which give a true and fair view of the state of affairs of the charitable company and of Ihe incoming resources and application of resources, including the income and expenditure of the charity for that year. In prq)aring these financial statements. the trustees are required to: Select suitable accounting policies and then apply them Lonsistently: Observe the meth(xls and principles in the Charities SORP; Make judgements and accounting estimates that are reasonable and prudent; State whether applicable UK accounting standards have been followed. subject to any material departurcs disclosed and explained in the fmancial statements; Prepare the financial statements on the ongoing concern basis unless it is inappropriate to presume that the charitsble company will continue in business. The Trustees are responsible for keqjing adequate accounting records that are sufficient to sknw and explain the charitable company's transactions and disclos¢ with reasonablc accurnLy at any the fllwncial position of tbc charAtsble company, and to enable them lo ensure that Ihe financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Received and approved by th¢ Board on .Ii.e014 and signed as authorised on tbeir behalf by: IAD Nlgel Mehrtens (Chair of Trnstees) Page 11 QUEER BR￿AIN MUSEUM LTD (A eompAny limited by guarantee} INDEPENDENT EXAMINERIS REPORT FOR THE YEAR ENDED 31 MARCH 2024 Independent Examiner's Report to the Trustees of Queer Brltaln Museum Ltd Cthe Charlty) T report to the charity Trustees on my cxamination of the accounts of the Charity for the year ended 31 March 2024. Responslbllltles and Basls of Report As the Trustees of the Charity (and its directo￿ for the purp05cs of company law) you are respoDsiblc for the preparation of the accounts in accordance with the requirements of1he Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the Charity are not required to be audiled under Part 16 of the 2006 Act and are elI￿￿]e for independent examination, I rewrt in respect of my examination of the Charity's accounts carried out under section 145 of the Charitics Act 20I I ('the 2011 Act,). In carrying out nry examination I have followed the Directions 8Aven by the Charity Commission under section 145(5Mb) of the 2011 Act. Independent ExamlDerls Stgtement Sin¢¢ thc Charity5 gro￿ incom¢ ¢xceed¢d £250.(X)O your examiner rn￿$t bo a mcmber of a body listed in sKtion 145 of the 2011 Act. I confmn that l am qualified to u￿l¢rtake the examination because l am a member of the Institute of Chartered Accoulltaats in England and Wales, which is one of the listed bodies. I have completed my examination. T confirni that no rnatters have corne to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the Charity as required by section 386 of the 20(K) Ac(. or the accounts do not accord with those records: or the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and t'ale view which is not a matter considerd as part of an independent examination. or the accounts have not been prepared in accordance with the methods alld principles of the state￿￿nt of Recornmended Prncticc for accounting and I'eporting by cljarities [applicable to charities preparing their accounts in accordance with the Financial Reporling Standard applicable in the UK and Republic of TTeland (FRS J 02)]. T have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in Ihis report in order to enable a proper understanding of the accounts to bo reacheAL This report is made solely to the CharIt￿S Tn￿tee% as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work been undertaken 80 that T might stste to the ChaTiWs Trustees those mattern l am required to state to them in an independent examinevs report at]d for no otlkr purpose. To the fullest extent permitted by lam,, I do not accept or assume responsibility to anyone other than the Charity and the Charity's Trustees as a bdyg for my work or for this report. For the year ended 31 march 2024 Signed: and Dated: 0 zo L* Tsabella Segal FCA Simia Wall LLP, c1]art￿ed Accountants Devonshire House, 582 Honeypot Lane Stanmore, HA7 IJS Page 12 QUEER BR￿AIN MUSEUM LTD (A compan.v limited bi, guarantee) STATEMENf OF FINANCIAL ACTIVITILS (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024 Note Unrestricted funds 2024 Restricted funds 2024 Totsl funds 2024 Unrestricted funds 2023 Totsl fund82023 Income from: Donations and legacies Charitable aaiTritie8 Venu¢ hire Other income Total income Expendltutt oll: Raising funds Charitable activities Total expendlture Net income (loss) Transfers between funds 500.637 114275 2,943 52.833 553.470 114.275 2,943 599.268 116,412 22,380 599.268 116.412 22J80 617,855 52.833 670,688 740,504 740,504 12,819 626,116 638,935 (21.080) 12,819 678,949 691.768 (21.080) 6,799 628.914 635.713 104,791 6,799 628,914 635.713 104,791 52,833 52,833 Net movemenl In funds (21,080) (2J,080) 104,791 104,791 Reeonclllation of funds: Total fund8 brou8ht f￿ward Net nwvcment in fvnds 240,611 240,611 135,820 135,820 (2 1,080) (21 ,080) 104,791 104,791 Total funds carTl¢d forward 219,531 219,531 240,611 240,611 The Statement of Financial Aclivities includes all gains and10&8e8 recognised in the year. The notes on pages 15 to 24 form part of these finaDcial statements. Page 13 QUEER BRrrATN MUSEUM LTD (A eompani. Jlmited bv guarantee) BALINCE SHEET AS AT 31 MARCH 2024 Note 2024 2023 Flied assets Tangible assets Investment8 1,824 10 3,849 100 3.949 cllrre￿ assets Debtors Cash at ballk and in hand 1,924 44,965 246,923 291,888 73,595 J66,299 240,238 Creditors: amounts falling due within on¢ year Net current assets Total net assets 12 74281 217.607 219.531 236.662 240.611 Charlty fund3 Restricted funds Unrestricted funds Total funds 13 13 219,531 219,531 240,611 240.611 The Charity was entitled to exemption from audit under section 477 of the Companies Act 2(X)6. The members have not required tbe company to obtsin an audit for the year ill question in accordance with section 476 of Companies Act 2(NJ6. The Trustees acknowledge their responsibilities for complying with the requirements of tlie Act with respect to accounting records and preparntion ot"financial statements. The financial statements have been prepared in accordance with Ihe provisions applicable to entities subject to the sm811 companies. regime. The financial ststements were approved and aulhorised for issue by the Trustees and signed on their behalf by: lan Nigel Mehrtens (Tn￿tce) 21. tl.2a2* The notes on pages 15 to 24 forni part of these financial stateinents. Page 14 QUEER BRITAtN MUSEUM LTD (A compan.v limited b.v guarantee) OTES TO THE FTNANCIAL STATEMENTS FOR THE YEAR ENDF.D 31 MARCH 2024 General informatlon Queer Britain Museum Ltd is a charitable company limited by guarantee and registered in England and Wales. The ad(tr￿S of its registered otTKe is 2 Granary SquaTe, London. England Nl C 4BH. Ac¢oulltlDg pollcle8 2.1 Basls of preparatlon of financlAI statements The fuwicial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accountin8 and Reporting by Charities: Stht¢m¢nt of Recornrnended Practice applicable u) charities Preparing their accounts in accordanee with the Financial Reporting Standard applicable in the UK aDd Republic of Ireland (FRS 102) (second edition effective l January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. Queer Brilain Museum Ltd meets the defmition of a public bcnefit entity under FRS 102. Assets and liabilities are initially reLogni8ed at historical cost or transaction v￿uC unless otherwise slated in the relevant accounting policy. 2.2 Income All inco]r* is T￿OgnISed 0￿e the Charity has entitlen*nt to Ihe income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Gifts in kind donated for diStri￿utIOn are included at valuation and rccognised as income when they are distributed to the projects. Income tax recoverable in relation to donations received Under Gift Aid AS r￿08￿lSed at thc time of the donation. Tncome tax Tecovernble in relation to inTr"estment incorne is recognised at the time the investment income is receivable. Other income is Teco8nised in the period in which it is receivable and to the ex*nt the goods have been provided. 2J Expendlture F.x￿nd1tUre is recogaised once there is a legal or constructive obligatton to transfer economic benetit to a third party, it is probable that a transt.er of economlc benefjts will be required in sett]ement and the amount of the obligation can be measured reliably. Expenditure is cl8ssifIed by activily. The costs of each activity are made up of the total of direct costs and shared osts, including support costs involved in underlaking each activity. Expenditure on Taisin8 fundq includes all expenditure i￿Urred by Charity to rn15¢ funds for its charitable purposes and includes costs of all fundraising activities events, Expenditure on charitable activities is incurred on directly undertaking tho activities which further the Charity's objectives. as well as any associated 8UPP(rt costs. 2.4 TaDglbk fixed assets and depreclatlon Tangible fixed assets aTe initially recognised at cost. After recognition. under the cost model, tsngible fixed a85ets are measured at cost less accumulated depreciation and any accumulated impairnient Ios8e8. All co8ts incurred lo bring a tsngible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fjxed assets Icss th¢ir rcsidual value over their estimated use￿1 lives, using the straight-line method. Depreciation is provided on the following basAS: Computer equipment 330/• Page 15 QUEER BRITAIN MUSEUM LTD (A eompany limited bv guarantee) 2.5 Investments Investments in subsidiaries are valued at cost less piovision for impainnent. 2.6 Debtor8 Trad¢ and other debtors are recognised at the settlement amount after any trade discount offere(L Prepayments are valued at the amount prepaid net of any trade discounls du¢. 2.7 Cash at bank and In hand Ca8h at bank and in hand includes cash and short-terni highly liquid investments with a short ￿*tUTity of thre¢ montlk8 or le58 frojn the date of acquisition or opening of the deposit or sÈtnilar account. 2.8 Liabllllles Liabilities are Tecognised when there is an obligation at the balance sheet dats as a result of a past even( it 18 probable that a transfer of economic benefit will b¢ wuired in settlemenL and the amouirt of the settlement can be &qtimated reliably. Liabiliti¢s are recognised at the amount that the Charity anticipates it will pay to settle the debt or the amount it has received as advancpAI payments for the goods or Services it m￿1 proiide. 2.9 Flnanclal instruments The Charity only has f￿￿]Cial assets and financial liabilities of a kind that gualify as basic fu]allcial instrumellts. Basic financial instrumcnts arc tnitially recognised at transaclion value and subsequently measured at their seltlcmellt value. 2.10 Fund accountlng General funds are unrestricted funds which are available for use at the discretion of the Trustees in furthernnce of the general objectives of th¢ Charity and which have not been designated for other pwposes. Restricted funds are funds w,hich are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and adininistering such funds are charged against th¢ specific fund. The aim and use of each rcstricteil fund is set out in the notes to the f￿￿ncial statements. Inveslment inconie. gains and loss&s are allocated to the appropriafr r￿d. Ineome from donation8 and legacles Unrestricled Restricted Total Unrestricted Restricted Totsl Funds Funds Fund8 Funds Funds Funds 2024 2024 2024 2023 2023 2023 Donations 412,352 52.833 465.185 432,(X)8 432.(K)8 Crowdfijnding Gifts Jn Kind 29,127 29,127 6,140 6,140 9.fj,417 95,417 Legacies Gift Aid 35.000 35,000 35,100 35,1 (M) 18.018 18,018 36,743 36,743 5(Kl,6.37 553,470 599,268 599,268 Page 16 QUEER BRITAIN MUSEUM LTD (A compan.v limited bv guarantee) NOTES TO THE FINANCML STATEMENts FOR THE YEAR ENDED 31 MARCH 2024 Ineome from eharltable aetlvltles Ujjrestricted Restricted Total Total funds fimds funds funds 2024 2024 2024 2023 Mernber8hip income Leaniing and E4ngagement 49,489 49.489 34.430 29206 29206 36,822 Patron Schem¢ 35,580 35,580 45.160 114.275 114,275 110,412 Note: None of the above income was restricled. Pa8c17 QUEER BRITAIN MUSEUM LTD (A company llmlted by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 S. Venue hlre Unrestricted Restricted Total Funds Fundg Funds 2024 2024 Venue hire: 2,943 22,380 6. Other income UDrestricted Restricted Total Funds Funds Funds 2024 2024 2023 Other Jncome 2,444 Total Note: There was no restricted venue hire or other income. 7. ADal)'515 of expendlture by aetlyldes Activities Undertaken Raising Funds Support Costs Totsi Totsl Directly 2024 Funds FU￿lS 2024 2024 2024 2023 Expenditure Total 2023 452,091 372,104 12,819 6,799 226,858 691.768 635,713 256,810 635.713 635,713 Page 18 QUEER BR￿AIN MUSEUM LTD (A company Ilmited b). Eugrantee) NOTES TO THE FINANCIAL STATEMEP4TS FOR THE YEAR ENDED 31 MARCH 2024 Analysls of aetlvltles undertaken directl). (conlinued expenditure analysls) Total Total Funds Funds 2024 2023 Charitable Activities (Note: £52,109 of 2024 expendilure relate8 to restricted fimds) Staff costs (see note 8) Gifi In Kind 63.017 382.934 6,140 452,091 276,087 95,417 372,104 Total Anatysls Of Support Costs Tolal Total Fimds Funds 2024 2023 Depreciation Consultsncy Staff Training Subscriptions Printin89 Postage & Stationery (Note: £2 of 2024 expenditure relates to rntrictcd funds). Museum Expenditure Buildin8 Running Costs IT Software and Consumablcs 2.025 2,130 18,769 3,293 18,460 192 926 1.235 14,674 20285 9.970 2,654 58,968 16,857 8,654 377 Bank Charges Accountancy Fees Venue Hire & Costs 6.603 3,1X)O 572 3.430 4.994 Other Legal and Professional General Expens Travel and Entertaining (Note: £723 of 2024 expenditure relates to restricted fimds). Insurance 3,504 388 628 4.725 5.798 2,823 137,476 226,858 2,184 128.074 Renl Rates and Servi¢¢ Charge 256,810 Total Charitable activities expenditUTe 678.949 628,914 Page 19 QUEER BRITATN MUSEUM LTD (A eompanv limited bv guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ETrIDED 31 MARCH 2024 Staff eosts (Included in aetlvlties undertaken directly) 2024 202.3 Wages and Salaries Social Security Casts ￿MplOYer) Pension Costs 344.816 250,422 19.480 6,785 276,687 28,881 9,237 382,934 The average number of persons employed by the Charity during the year was as follows: 2024 2023 Management and Employees l employc¢ rcccived remuneration amounting to more Ihan £60,0(K) in 2024. (J GallIan￿D0lg £69,875) Key management includes the core management team. Employment benefits for key management personnel totaled £110,931 (2023: £112,833). 14 Trustees, remuneratlon and expenses During the year, no Tr￿stee$ received any benefits (2023: £Nil). Page 20 QUEER BRITAIN I￿UsEUm LTD (A eompany Ilmited by guarantee) NOTES TO THE FtNANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 Tanglble fixed asiets Computer and Oir￿e equipment Cost or valllatlon At l April 2023 6.572 At 31 March 2024 6,572 Depreciatlon At l April 2023 Charse for the year 2,723 2,025 At 31 March 2024 4,748 Net book vallle At 31 March 2024 1,824 At 31 March 2023 3.849 Flxed asset Investments Investments in subsidiary conwani Cost Additions 100 At 31 March 2024 100 Net book value At 31 March 2024 100 Page 21 QUEER BRITAIN MUSEUM LTD (A compan). Ilmited bv gyaranlee) NOTES TO THE FINANCTAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024 10. Fixed asset Investments (eontlnued) Princip￿ subsidiarks Th¢ following wa3 a subsidiary undertaking of the Charity: Name Company Number Class of Holding Shares Queer Britain Trading Limited The financial results of the subsidiary for the year w¢re: 13626046 Ordinary l (X)O/o Name Profit for the Net A88ets year Queer Britain Trading Limited 53,753 55,590 11. Debton 2024 2023 Due wlthln one year Trade debtors 26.763 55,024 Arnounts owed by group undertakings Other debtors 488 13,333 4,381 44,965 13,333 4.389 Tax recoverable 73,595 Page 22 QUEER BRrrAIN MUSEUM LTD (A companv limited bi. guarantee) NOTES TO THE FINANCIAL STATEMENrs FOR THE YEAR ENDED 31 MARCH 2024 11 Creditors: Amounts falling due wlthin on¢ year 2024 21Y23 Trad¢ creditors 1,693 27,530 40.177 162 VAT DefeNed income Other creditors 1,881 Accruals 74281 3,162 13. Statetnent of funds Statement of funds- Current vear Balance at I Transfers 31 March April 2023 Income Expenditure Inlout 2024 Unrestrleted Fund8 General FU￿18 - All Funds 240.611 617.855 (638,935) 219,531 Restrlrted Funds Project: Missions & Mindsets Project: Community Residence Series Total Funds 51.686 1,147 (51,680 (1.147) (691.768) 240,611 670,688 219.531 14. Anaty8ls of net assets betsyeen funds Analysls of net a88ets between funds - ell￿ent )'ear Unreslrlct¢d Funds Restrlcted Funds Total Ifunds Total Funds 2024 2024 2024 2023 Tangible Fixed Assets Fixed Asset Investments 1,824 l(M) 1,824 100 3,849 100 Current Assets Creditora Due Within One Year 291.888 (34.104) 291,888 (74,281) 239,824 (3,162) (40,177) Total 259.7118 40,17 219 31 240 611 Page 23