TIVERTON
MUSEUM
of Mid Devon Life
TIVERTON MUSEUM OF MID DEVON LIFE
FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Charity Number 1181976
possit¥
Heritage
Fund
, FOI'LE FOUNDATION
Mid
Devon
Funded by
UK Government
OISTftICT COUNCIL

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
FINANCIAL STATEMENTS
Charity Number 1181976
Contents
Page
Reference and administration detalls
Trustees report
Statement of trustees responsibilities
Independent Examiners report
Statement of financial activities
Balance sheet
io
Notes to the financial statements
11-23

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
REFERENCE AND ADMINISTRATION DETAILS
Governing instrument
Constitution approved by Charity Commission
Charity name
riverton Museum of Mid Devon Life
Registered charity number
1181976
Charity's principal address
Beck's Square
Tiverton
EX16 6PJ
Trustees
Stephen Ponder {Chair}
Jose Kimber Ivice Chairl
Jonathan Scott
Colin Slade
Susan Eddisford
Alice Hodgson
Joanne Elizabeth Mildren Iresigned September 2024)
Elizabeth Mary Payce
Felicity Jane Colthorpe
Independent examiner
Mandy French
Westcotts ISW) LLP
30 St Peter St
Tiverton
Devon
EX16 6NR
Solicitors
Hole & Pugsley
6 St Peter Street Tiverton
Devon

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
TRUSTEES REPORT
The Trustees present their report and the financial ststements of the charlty for the year ended 31
March 2025. The trustees have adopted the provisions of the Statement of Recommended Practice
ISORPI "Accountlng ond Reporting by Charities" {FRS 1021 in preparing the annual report and financial
statements of the charity.
OBJEcfivE5 AND AcfiviTIES
Summary of thé obje¢ts of the tharfty set out In Its g(weTnlng document
The Mu5eum'5 Constitution states that it5 main Object is lil" to provide and maintain a museum and
information service at the Museum" and to liil'advance education for the public benefit and to
promote the history of Tiverton and Mid Devon as told through its heritage. landscapes and stories of
the people in the area"
Summary of the maln adlvltles In rolation to these objertives
The museum's main adivities during the year were the opening of the museum to the public and the
provision of high-quality learning for schools and diverse community participation activities.
The Trustees belleve that both our purposes satisfy both elements of the public benefit requirement.
The direct benefrts that flow from object {1) include:
lal Maintaining a collertion and permanent display of artefacts and objects to preserve Tiverton
& Mid Devon history for public enjoyment.
Ibl Supplying the public with information on Mid Devon including events. accommodation and
maps.
{cl Providing a space for public to research history of Tiverton and Mid Devon.
The direct benefits that flow from object li1} include..
lal Promoting the history and informatton about Ttverton & Mid Devon, sharing stories about the
people who Itved there through artefacts and objects. This is done through permanent and
temporary dlsplays at the museum. occasional displays In the communlty, regular articles in
local publlcatlons, Information and blogs on the museum's website. sharing archive
photographs through soclal medla. special event days, talks on local hlstory and guided walks
around the town.
{bl Providing educational space for schools and chlldren to learn about the history of Tiverton &
Mid Devon. Our learnlng programme Includes workshops linking to the national curriculum
on site at the museum. and off site in school, regular Science Technology, Engineering and
Maths fairs at the museum, and the museum loan boxes containing resources to be used in
school. Our programming for local families in school holidays olso encourages visits to the
museum and shared infomiation about local history and people.

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
ACHIEVEMENTS AND PERFORMANCE
The museum and Tourist Information Centre contlnued to maintain full openinB hours throughout this
financial year, Tuesday to Saturday 10.00-4.00. The museum reached 7027 people through its on-site
and outreach activities. as well as over 2757 school children accessed our workshops and at least
3540children used our loan boxes in school in 2024. The Tourist Information Service welcomed over
10,851 people through the doors in 2024. Iln 2023 we reached 7651 people through on our on-site
and oirtreach activities, as well as over 2568 school children accessing our workshops, and at least
3420 using our loan boxe5 in school. The Tourist Information Service dealt with over 10,323 people in
person in 2024.1
Volunteers remain the museum'5 lifeblood a5 they are involved in the delivery of all of the activitie5.
The Museum continued to rety slgnificantly on voluntary help to deliver its general activities.
Volunteer numbers increased this year as part of the National Lottery Heritage Fund project's focus
on developing the volunteer team. The museum benefrtted from 7466 hours of volunteertime in 2024
16196 in 20231, a value of at least £85,411 [£63,279 in 2023] based on National Living Wage a5 a
minimum value. Without our volunteers we would not be able to open the Museum to vlsitors on a
daily basis or to provide many of the services.
The learning programme contlnues to run very successfully: yet again we beat previous records and
had our busiest academic year in 2023124. We contlnue to welcome familie5 to the museum as one
of our key audience groups, and have run popular activities in the school holidays. The Tiverton Tots
toddler group continues with monthly sessions being run. The Remini￿nCe Service for local care and
residential homes has continued, and has benefitted from a review of the themes and contents, as
well as new storage facilities. The programme of walks and talk5 remained popular with a group of
very engaged follower5. although numbers were down over the summer months.
The Museum secured a number of grants during the year which were critical to enabling it to provide
services to the publlc. The main grants were secuTed from MDDC for the core work of the museum,
and we are grateful to the Vlscount Amory Trust for their ongoing support of the museum's learning
programme. Tiverton Town Council gave a Small grant towards the core work of the museum land
have now stopped givin8 Out any grants).
The major achievement of this year was the delivery of the National Lottery Heritage Fund and Foyle
Foundation project 'StrenBthenin8 our foundations; building our future,. The project is designed to
build our organisational resilience in the short to medium tem. and determlne longer term
redevelopment plans through several strands of work. Work undertaken this year included
ommi55ioning a number of reports to help us prepare for a capital redevelopment project, and some
investment in the museum shop, event equipment. A fixed term Volunteer Development Co-ordinator
undertook work to develop the volunteer team. Elements of this work are being continued by a fixed
term Administrator.
Other prolert work enabled through grant funding included a photographic trail in busines5 windows
over the summer of 2024 funded by Mid Devon District Council's Love Your Town Centre. Support
from the Devon County Councillors, Locality Budget enabled the improved storage of the
reminiscente resources. Mid Devon Distrlrt Council's Shared Prosperity Fund grant provided
equipment to improve the visitor experience lincluding basic refreshment offer, events equipment,

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
new floor in education room. new till. WiFi throughout the building, contribution to solar panel and
roofing work overspend, fundralsln8 consultancy).
Whilsi we are taking measures to reduce our electricity costs, we continue to face ongoing challenges
to meet ever increasing running costs, whilst income remains somewhat Static due to the ongoing
impact of the cost of living crisi5 on our audiences.
FINANCIAL REVIEW
Result for the year
Tiverton Museum of Mid Devon Life generated an overall surplus in 2024125 of £3,70312023124 -
deficit of £15,554), which resulted in an unrestricted surplus for the year of £4.60512023/24- deficit
of £8611.
Total funds at 31" March 2025 was £725.923 with £533,863 endowment funds• £14,060 restrided
fund, £2,572 Designated funds and £175,428 of UnreStr￿ted reserves.
Income in 2024125 was £301,752, 3 SS% increase from 2023124. The majority of this variance is due
to a increase in grants received 1130% increase from 20231241. There was also a IO% increase in
admission. plus a 13% increase in trading sales. However the museum saw a decrease in donations,
down 14% from 2023124.
The year expendlture on operating the museum continued to increase by 45% from 2023124. Majority
of this was due to increase in grant expenditure mainly relatlng to our Buildin8 our future & Enhancing
our organisation resilience 8rants. Spend on managing the museum and other unrestricted costs had
small inflation increases. The most notable was Il% inciease in staffin8 costs & increase in IT costs as
the organisation invests ID equipment for the future.
*Endowfnentfvnd5 held 15 thefixed 1755et V¢71ue of the museum building and not C05h
Brief summary of the ¢har5ty'S poll¢y on reserves
The Museum's reserves situation and policy is kept under constant ￿vIeW by the Board. The Trustees
have agreed to maintain and designate a reserye f und to cover 6 months 'operating costs which is
£84,IMJO for 2025126, which is Consisten￿ with 2024/25 wlicy.
All restricted funds have been used for their specified purposes.
Further flnanclal revlew detalls
The Museum is financially aided by the Mid Devon District Council and a grant from Tiverton Town
Council and also by a membership scheme which is a dependable source of income. The Board's policy
is to invest any surplus funds in deposit accounts Icharities Aid Foundation Gold Account and the
Charities Official Investment Fund) until such time as they are required.

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
STRucfuRE, GOVERNANCE AND MANAGEMENT
Type of governlng document
Constitution approved by Charity Commission
How the charity is constltuted
Charitable Incorporated Organisation ICIOI
Governance issues
The CIO is managed by a Board Df CharityTrustees I'the Board"} who meet at least every two months.
Trustee selectlon method
The maximum number of Charity Trustees eligible to administer the CIO as the Board is 12. The
trustees are elected at the Annual General Meeting,. in addition, IAVO Council representatwes, who are
nominated by Mid Devon Di5trirt Council and Tiverton Town Council are invited to attend.
The day to day running of the Museum is in the care of the Director who is responsible to the Trustee5.
This post is a full-time, paid position.
The Museum Is supported by the Mid Devon District Council. the Tiverton Town Council and by many
local people.
This report was approved by the 8oard of Trustees on ............
and signed on their behalf by

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
STATEMENT OF TRUSTEES, RESPONSIBILITIES
The trustees are responsible for preparing the Trustees, Report and the financial statements in
atcordance with applicable law and the Financial Reporting Standard for Smaller Entities leffective
April 20081 Iunited Kingdom Generally Accepted Accounting Prartice applicable to Smaller Entitie51.
The law applicable to charities in England and Wales requires the trustees to prepare financial
statements for each financial year which give a true ènd fair view of the state of the affairs of the
charity and of the incoming resources and application of resources of the charity for that period. In
preparing these financial ststements the trustees are required to:
select suitable accounting policies and then apply them consistently: observe the methods
and principles in the charities SORP-
make judgements and estimates that are reasonable and prudent,.
state whether applicable accounting Standards have been followed, SLFbjert to any material
departures disc105ed and explained in the financial statements
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the charity will continue in operation.
The trustees are responsible for keeping accounting records which disclose with reasonable accuracy
at any time the financial position of the charity and enable them to ensure that the financial
Statements comply with the Charities Act 2011, the Charity (Accounts Reports) Regulations 2IYJ8 and
the constitution. They are also responsible for safeguarding the assets of the charity and hence for
taking reasonable steps for the prevention and detection of fraud and other irregularities.
81Pège

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES
I report to the trustees on my examination of the financial statements ot Tiverton Museum of Mid
Devon Life I'the charity) for the year ended 31 March 2025. which are set out on pages 10 to 24.
RÈsponslbllltles and basls 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 20111.the Act'}
Havin8 satisfied myself that the accounts of the charity are not requlred to be audited and are eligible
for independent examination, I report in respect of my examination of the charity's accounts carried
out under section 145 of the Act. In ¢arryinE Out my examination I have followed all the applicable
directions given by the Charity Commission under section 14515llbl of the Act.
Independent examinerfs 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 respett..
accounting retords were not kept in respect of the charity as required by section 130 of the
Act: or
2. the accounts do not accord with those records L. or
3. the accounts do not comply with the applicable requirements concerning the form and
content of accounts set out in the Charities (Accounts and Reports) 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 examinationl.
I have no concerns and have come acros5 no other matters in connection with the examination to
which attention should be drawn in this report in order to enable a proper understsnding of the
account5 to be reathed.
Mrs Mandy French FCCA
Westcotts (SWI LLP
30 St Peter St
Tiverton
Devon
EX16 6NR
Dated: 20 a025

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
STATEMENT OF FINANCIAL AcfiviTIES
Ftsrt￿ year*ndity 31M•tth 2Q5
Unrestrlded ReS￿L￿e￿ EndiyThnt
Funds
Fund5
lunds
rotal
Totsl
X)Z4fv 2023124
Notes
In(ornln¥ resourre5:
Artlvitiestofvrtherthe tharitsNe objeLXives
ote191
23,875
177,684
87,793
4,170
IL619
SubscrtptSons
l)onatlonsand legacle$
Educatlon Income
seum Admission fees
Activities togenerdte funds
Fundraisin8
Shop Sales
TourlStlnfor￿t1OTr Centre
other income
Inte￿$1 receivable
8.719
14,810
32.349
1.274
¥349
29.411
5,C62
11,167
18.887
495
2.881
2,569
IL167
27,902
3,812
1735
Total in¢omin8 resour￿$
179.038
1752
195,022
Expenditure ¢)n:
Costs tsf generntingfunds
Fundrnising
5hop- Costof sèles
Total tostsof generatI￿l￿ndS
26
3,039
5.865
NetIn￿mI￿a ￿50¥1￿$¥v&F•bIef0r
Lharltsble appllc*ion
iJ9,649
179.038
687 ￿.078
I185￿1¢e$ e¥•ended
Charfit•ble expenditure
Cost of operatlngthe museum
Ana8ln8 and zdmlnlsterfng the 00
ILS.875
,461
170.946
7.704 284.525
61
&n8
7,914
T•tsl resourtésexpended
ll4336
7,704 294,
204.632
Net incomin8 loutgoin8i ￿$oUrceS betore
tran5fer5
3.315
8.($2
17.7Ckll
115.5541
Transfers
11,2Y)I
Net Incomin8 lotstgoln81 resource5 after
transfers
6.&12
17.7041
1703
115.5541
Total fund5 at l April 2024
Totsl funds *t31M•rth 2025
173.395
17&(
54L567
T37,775
.CfjJ 533.863 n5.923 722,221
The notes on pages 12 to 24 form part of these accounts.
10 |Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
BALANCE SHEET
At 3tst March 2025
Notes
2023124
Fixed a55ets:
Tan8ible assets
571LKB
574,681
Currentassets:
Stock
Debtors
Cash at bank and in hand
9,Tr12
S,186
142,872
157,ICXI
5,474
6,875
142.924
155,274
Uabilities:
Creditors: Amounts falllng due within one year
Net currentassets
13,1801
17,734}
147.540
Net Assets
Capitsl fund5
Endowment
io
541,567
Unrestricted funds
Unrestrirted
Designated
14
li
175,428
170,632
178,1)X)
173,395
Restrlcted funds
12
14.C
7,259
Totsl
725,923
722,221
The financial statements were approved and authorised for issue bythe trustees on
and signed on their behalf by
The notes on pages 12 to 24 form part of these accounts.
11 IPaEe

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL
TATEMENTS
l. Summary of significant accounting policies
la) General inf(Yrnation and basis of preparatlon
Tiverton Museum of Mid Devon Life is a charitable incorporated organisation in England within
the United Kingdom.
The charity constitutes a public benefit entity as defined by FRS 102. 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 the
Financial Reporting Standard applicable ir¢ the UK and Republic of Ireland {FRS 1021 Ilssued In
October 20191 Icharities SORP IFRS 10211 and UK Generally Accepted Accounting Practice.
The financial statements ère prepared on a going concem basis under the historical cost
convention, modified to include certain items at fair value. The financial statements are
presented in sterling which is the functional currenry of the charity and rounded to the nearest
The significant accountin8 policies applied in the preparation of these financial statement5 are
set out below. These policies have been consistently applied to all years presented unless
otherwise stated.
(b) Golng concern
The trustees have a reasonable expectation that the charlty has adequate resources to continue
in operational existence forthe foreseeable future. Thus the trustees continue to adoptthe going
concern basls of accounting In preparlng the finèncial statements.
Icl Income recognltlon
All incoming resources are included in the Statement of Financial Artivities ISOFAI when the
charity is legally entitled to the income after any perfomance conditions have been met, the
amount can be measured reliably and It Is probable that the Income wlll be received.
For donations to be recognised the charlty will have been notifled of the amounts and the
settlement date in writing. If there are conditions attached to the donatlon and this requires a
level of performance before entitlement can be obtained then income is deferred until those
conditions are fully met or the fulfilment of those conditions is within the control of the charity
and it is probable that they will be fulfilled.
No amount is included in the financial Statements for volunteer time in line with the SORP IFRS
1021.
12 | Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
Income from trading activities includes income earned from fundraising events and trading
activities to raise funds for the charity. Income is received in exchange for supplyinE goods and
services in order to raise funds and is reco8nised when entitlement has octurred.
Incomè from grants is recognised at fair value when the charity has entitlement after any
performance conditions have been met, it is probable that the income will be reteived and the
amount can be measured reliably. If entitlement is not met, then these amounts are deferred.
Idl ExpendSture recognltlon
All expenditure is accounted for on an accruals basis and has been cla55ified under headings that
aggregate all costs related to the category. Expenditure is recognised where there is a legal or
construttive obligation to make payments to third parties. it 15 probable that the settlement will
be required and the amount of the obllgatlon can be measured reliably. It is categorised under
the following headings..
Cost5 of generating funds;
Expenditure on charitsble activities- and
Managing and administering the trust
le) Tangible fixed assets
Tangible fixed assets are stated at cost (or deemed costl or valuation less accumulated
depreciation and accumulated impairment losses. Cost includes Costs directly attributable to
making the asset capable of operating as intended.
Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost. less
estimated residual value, of each asset on a systematic basis over its expected useful life as
follows..
Buildin8s- 1% per year straight line
Equipment and fittings are written off in their year of purchase
The current value of the premises. exhibits and equipment has not been estimated.
Iv.
Ifj Stocks
Stocks are stated at the lower of cost and estimated selling price less Costs to complete and sell.
Cost includes all costs of purchase, costs of Conversion and other costs incurred in bringing stock
to its present location and condition. Cost is calculated using the fir5t- in. first-out formula.
Provision is made for damaged, obsolete and slow-moving stock where appropriate,
131Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENT
181 Debtors and credltors recelvable I payable wlihln one year
Debtors ènd creditors Wlth no stated interest rate and receivable or payable within one year are
recorded at transaction price. Any losses arising from impalrment are recognised in expenditure.
{h) Cash
Cash and cash equivalents are basic fin3ncial assets and include cash in hand, deposits held at call
with banks, other short-term liquid investment5 With original maturities of three months or less,
and bank overdrafts.
Cash Flow Statemeni
The Trustees have tsken advantage of the exemptlon under Charities 50RP IFR51021 Bulletin I
published on 2 February 2016 and have therefore not included a cash flow statement in these
financial statements.
111 Fund5
Unrestricted fund5 are available for use at the discretion of the trustees in furtherance of the
general objectives of the charity and which have not been designated for other F￿rPoses.
De5i8nated funds comprise unrestricted funds that have been set aside by the trustees for
particular purposes. The aim and use of each designated fund is set out in the notes to the
financial statements.
Restrlrted funds are funds which are to be used in accordance with spetifit restrictions imposed
by donors or which have been raised by the charity for particular purposes. The cost of raisin8
and administering such funds are charged against the specific fund. The aim and use of each
restricted fund is set out in the notes to the f inancial statements.
Endowment ￿ndS represent those assets which must be held permanently by the charity.
Income arising on the endowment funds can be used in attordance with the objerts of the charity
and is included as unrestricted income. Any capital gains or losses arising on the investments forni
part of the fund. Investment management charges and legal advice relating to the fund are
charged against the fund.
U) Tax
The charity is an exempt charity within the meaning of schedule 3 of the Charltles Act 2011 and
is considered to pass the tests set out in Paragraph I Schedule 6 Finznce Act 2010 and therefore
it meets the definition of a charitable company for UK corporation tax purposes.
14 IPège

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
Ik) Government Grants
Government grants are recognised at the fairvalue of the asset received or receivable when there
15 reasonable assurance that the grant conditions will be met and the grants will be received.
2. Grants receSvable t¢>wards the Museum
Unrestrittèd Restritted
funds
funds
Totsl funds
2024125
Total fund5
2023124
Mid Devon Distrlct Council
Senplc* level Agreement
Enhant5ngDrganlsatlDn resiiien£*fund
Bld WriterGrant
Photographlf T¥all GTant
T>vertonTown Countil-. @ant
Nation&1 Lthttery Heritage Fund- Stren8thenlngour Foundf
Vistount Amory's Charitabl*Trus1.- Eduotion
Devon County Council LOCBlity bud8et
Inwtslv* voluntAryAct?on In Mid Devoft
Girdl•f'S Comp&ny- Le¥nin4t*50ur￿s
Foylè FiJiindatiDn- Sllèn8lhening oui Found*ions
Crimt & PuTrishm*nt <¢hotsl L¢&n bo¥
Trus1 & Foundoiitsn£-sirèngthènin£ ourFoundatiDns
NormaTh Family ChofitableTNst
23,375
23.375
31W5
27.5
31895
SL
130.929
130.929
Izo
1,505
¥355
17,593
I,S05
1855
1,3
13,875
J77.684
201.559
87.793
3. Trading income from shop sale
2023124
Sales
IL167
Opening Stock
Purthases
Closin8 Stock
Cost of Sale5
5.474
6,fQ7
19,ts12
4,914
6,425
Gr05s Proflt
4.037
4. Tourist Information Centre
2024125
2023124
Coach agency and job centre
F*os and accommodatiort lastings
Theatretickets and events
11811
59
117
J2,987
21,199
1,973
231
?3,402
4,500
Grant towards njnnlng cost5
Totsl Tourist Infornation CeniTe income
**
JB,887
27.902
Funding frtsm Mid DÈvon District Council and Tiverton Tt)wv Cvufful
15 |Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
S. Resources expended
Anagireand
adrnini5tering
Costsofopetstingthe museum
Endowrnent
xppnditurE
UnTestricted
expenditure
Restricted
expenditure
UTrrestrlrted
expetsdituro
T4)ts1
Total
JJ2W24
Water
Insurance
Light and IEat
Upkeep and maintenarKe
Postage
Tele￿one
ststhc￿ery, pThntire ènd c¢)pying
Other costs
Subscilptlons
Accountsw and EXa[￿na￿0￿fee5
Collecuon arn1 tlisplay
Event EXI￿ndIt￿re
AdvertislnK mrketlng
Curatorfs Fu
Educatlon costs
Salarie5
Tivwy Bumper ap￿al
Tourfst Infor￿￿tIOn CErtre
InvDlve Voluntary AC￿0Th In Mld Devon
Girdlers Company
NOrn￿n Family Charitsble Trust
Mid Devon Distritt cou￿11- EnharKlng
Mid Devon Dlstrict CourKil- Photographlc Tr,
Devon County Councll Locallty budget
Devon County Council Locality budget-$hr4)
Varley Appeal
CriTr* and PUnIsh￿Entsch￿l loan box
Foyle Foundatron- Bullding ouifviwe
National Lottery Heritage Fund
fjrcKJrnlwork KiLrfs In Tiverton
Bristol Cwncll - (kn 01spIoy
Mid Devon Dlstrfct cOu￿11- Love yourtown
Depreclation
Totsl E¥pendttyr* 20W2S
673
4354
1222
1132
1911
14,059
747
612
816
12f6
511
511
¥m
6,026
¢m
Lll9
415
174
L2Q
663
216
274
L026
35.361
11815
J1815
1139
1.017
918
1.765
1017
114
765
15C6
ISQ)
733
375
8149
818YJ
2L407
747
781
1,692
I7￿￿6
461 7X
Totsl expenditure X12¥24
.631
161Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
6. Flxed assets (used for dirert charitable purposes)
Freehold
IT0ffI￿ &
Equipment
TOTAL
Cost
Aat l April 2024
Additions
At 31 March 2025
770,445
770,445
11,025 IL025
11,025 781,470
770,445
Acojmulated depreciation
at l April 2024
Charge for year
at 31 March 2025
195,764
7,704
203,468
4.￿8 2Th),072
1,691
9,395
5,999 209.467
Net Bookvalue
at 31 March 2025
566,977
5,026 572,lJ)3
at 31 March 2024
574,681
574,681
7. Stock
2024125
2023124
Shop
9,042
5,474
8. Debtors and prepayments
202412S
2023124
Debtors
Other Debtors
L377
1,358
5,518
6,875
5,186
17 IPage

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
9. Creditors (Amounts due within one year)
2024125
2023124
Sundry creditors
Accruals
1,3C
350
5,253
3(J)
Other Creditors
1.531
2.181
7,734
10. Endowment fund5
This fund was established in 1968 following the purchase of the buildlng In St Andrew Street. The
fund has been increased by the subsequent expenditure on converting the building and developing
new galleries.
As at IApril 2024
Depreaation Charge
As at 31 Mard) 2025
541,567
17.7041
533,863
10. Endowment funds (prfor yeor comparativesj
As at IApril 2023
Depredation Charge
As at 31 Marth 2024
549,271
17,7041
541,%7
11. De51gnated funds
The resources of the charity include the following designated funds which have been earmarked out
of UDre5tritted funds for specific purposes-
Balance I
April 2024
utllised/
Designations released
Balance 31
March 2025
Curator's fund
2,763
2,763
2,572
15n
1911
Thecurator's fund Is held to finance small proj&ts rnstigat&l by the Director/curator
181Pa8e

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
11. Designated funds (prior year comporntives)
Balance I
April 2023
utilisedl
Deslgnations released
Balance 31
March 2024
Curator's fun(S
2,937
2,937
11741
174
2,763
2,763
The Curatorfs fund ts held to finance small wtsjects I[￿ligated by the Dirertorlcurator
12. Re5trirted fund5
Bdance I
41rf1 XQ4
Bal￿¢¢ 31
TM$fe￿ Marth 2015
Recelpts Expendltuwe
Tlwy BLMnper Appeal
Collections rationallsatl
Viscount Amorfs Charitable Trust- Education
Collectlons fund Iccn & acql
GroundwoTk- Kid5 in Tiverton
MDDC - Enhanclng Organisational reslllence
Devon County Council Li)cality budget
Devon County Council Locality bud8et-sknp art wc
MDDC - Photograplic Trail
MDDC- 81d Writer
Tiverton Town Councll Grant
Girdlers grant
Crime and Punishment School loan box
Foyle Foundati¢￿- Strengthenlng our Foundatior
NLHF-StrenBthening our Foundations
Norman Family Charitable Trust- Food & Famiin8
Varfey Appeal
lrniolve VoluntaryAction In Mid Devon
2,474
1,791
1474
L791
112,LYKII
1161
3L895
132,457)
IL5051
I1,5[￿}
19951
1851
11,cwi
12191
219
1,017
376
IL0171
13751
15,1491
1113,1421
19181
17331
11,1391
5,149
18,7741
0,929
9.013
L274
1,355
IS411
216
Totals
Transfers of £1,290 were transferred from restricted reserves to unrestricted reserves following the
completion of grants to cover or8anisational overheads.
19 |Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
Restrltted funds
The fiwy Bumper appeal garnered support from several local Trusts for essential
maintenance to the Tivvy Bumper steam engine in 2019. The remaining funds will be used to
benefit the engine and the Transport Gallery.
Collections Rationalisation is an ongoing project of reviewing dupllcate items in the museum'5
collection. These are being offered to other museums following our Collections Development
Policy, and some are eventually being sold. We will consult with Arts Councll England over
using the proceeds from this towards collections care.
Viscount Amor￿5 Charitable Trust supports the running costs of the Education Department.
Devon County Councillorfs Locality 8ud8et grant 2023124 supports cornmissioning bespoke
artwork to be used on shop merchand•se.
Devon County Counclllorfs Locality Budget grant 2024125 supports our reministence work by
purchasing shelving to store our resources safely.
Love Your Town Centre photographic trail was installed around T￿erton in the summer of
2024.
M¢d Devon Dlstri¢t Council Love YourTown Centre enables us to commission a bid writer for
a funding application.
The Girdler's Company supported the purchase of learning resources to Use alongside our
Wool Trade Gallery. and to develop a new Crime and Punishment school loan box.
A second Crime and Punishment loan box was funded through a donation from 3 5UPPOrter.
The National Lottery Heritage Fund supported our project 'Strengthenin8 our foundations:
building our future,. Match funding for the project was also achleved from the Foyle
Foundation and a Trust who wish to remain anonymous.
The Norman Family Charitable Trust supported the development of a new school workshop
on food and farming.
Mid Devon District Counc51 provlded a grant through the Shared Prosperity Fund for a
projert called Enhanclng organlsational resilience to enable the museum to invest in
equipment to improve the vlsitor experience (including basic refreshment offer. events
equipment, new floor in education room, new till, WiFi throughout the building.
ontribution lo solar panel and roofing work overspend. fundraising consultancy).
We ran a donation5 appeal name(1 the Varley appeal to generate funds to purchase a sketch
of St Peterfs Church by Cornelius Varley lany extra funds to be used for collections care}.
Involve voluntary action in Mid Devon provided funds from the fomier Devon Senior Volce
organisation to enable us to review and refresh OUT reminiscence boxes.
20IPage

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
12. Restricted Funds Prlor year comparative
B*lJnte 31
Trnttsfets March 1024
April 2023
Re£elpts Expehdltur•
rjohn Amory Fund
Tiwy Bumper Appeal
Collertion5 rationalisatioo
Viscount Amorfs Charitable Tru5t- Edutation
Colle¢tion5 fund (ton & acql
Groundwork- Kid5 in Ti¥ertDn
ristol Counol. displav
evon County Council Locallty budget
MDDC- Photographic Trail
MDDC- Bid Writer
Tiverton Town Council Grant
Girdlers ￿artt
Crime and Punlshment School loan box
Strengthening our Foundatlons
Foyle Foundation - StrÈn8thenln8 our Foundations
NLHF-Strengthenin¢ our Foundations
Norman Family Charitable Trust- Food & Farming
Norman Family Charitable Trusl- Leainin8
8.(QO
1710
L791
18.C(Ql
361
2.474
1.791
12,OCI)
112ml
500
500
500
14801
17471
747
1,50)
1.5
1.0
i.ofy)
219
17811
12B31
1,30)
4DJ
1.017
376
5,SQJ
I12￿51)
I31￿66)
5.149
114.2741
Lo
17.593
11141
11
Totals
Transfers of £7,900 were transferred from restricted reserves to unrestricted reserves following
correspondence with the funder in relation to the Sir John Amory Fund.
13. Analysis of net a$$ets between funds
Vnrestrlcted
funds
Restricted Endowmpnt
funds
funds
Totsl Funds
Tangible fixed assets
Net current a55ets
Net Assets
38,140
139,860
178,1
533,863
572,(M)2
153,920
725,9
14,C60
533,863
13. Analysls of net assets between fund5 (prior year comparativesl
Umeslrkted
funds
Re5trfrted Endowment
funds
lunds
Totsl Fund5
2023n4
Tangble fixed assets
Net current assets
Net Assets
33,114
140,281
173.395
541￿fj7
574.681
147,540
722,221
7.259
7,259
541,567
21 | Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR EN DED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
14. Movement in funds
Balance I
Aprtl 202A
Ba18n￿ YI
Th3rfjter5 Mahrh >)Z5
Inc4Jrne &pendture
lThcome Funds
Unrestritted
DeslKnated
Total Incomè funds
Endowmènt funds
Restrirted funds
170,632
2,763
IT3,395
121715
1119.2C81
1.29)
175.428
2,572
178,(
122.715
li￿.4(0)
17,7C41
1170,9161
129&OSO
54L567
179,038
30L752
11,2901
14,CfQ
725,923
Total funds
721221
14. Movement in funds (prior year comparatives)
BalaneÈ I
April 2023
Balance 31
Transfers Marth 2024
In(gsme Expenditure
Intomè Funds
Unrestricted
Deslgnated
Total Income funds
17L318
2.937
I74.￿6
134,729
1143.3151
174
1144.0491
17.7041
159,3821
170,632
1763
173,395
54L567
7,259
134.729
Endowm•nt funds
Re5*rirted funds
549.271
14,248
1,293
17,9riJi
Total funds
195.022
210,575
722,221
15. Independent examinerfs remuneration
23124
Independent Examination
350
350
16. Employees
2024125
2023124
Salaries & Wages
Employers National Insuran
Pensions
94,527
2,028
3,781
85,472
1,773
3.418
Net Employee costs
I￿),336
The charity had an average of 6 employees during the year12023124- 51
There are no Employees earning emoluments over£EO,(J)O
22 |Page

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
17. Trustees Remuneratlon and expenses
Trustees received a total of £82 in expenses in relatlon to attending and carry out their duties. No
other remuneration was received.
2024125
2023124
Trustees remuneration
Trustees expenses
82
18. Related Party Transactlons
There have been no related party transactions in the year.
23 IPage

TIVERTON MUSEUM OF MID DEVON LIFE
YEAR ENDED 31 MARCH 2025
NOTES TO THE FINANCIAL STATEMENTS
19. Prior Year Ststement of Financial Activities
Forthe y•arendn8 31 March
Unre5trirted Restrfcted Endowment
Funds
Funds
lunds
Total
otes
Incom5n8 resources".
Activities to further the charitable objertives
Grants
Subscriptions
Donations and le8aae5
Education Income
Museum Admission fees
ArtlvSties to generate funds
Fundraising
shop Sales
Tourist Infomlation Centre
Other income
Intsrest re￿1vable
27.9))
4,170
11,619
15,IC8
29,411
6Q293
87.PJ3
4170
11619
Ism
2$411
9,￿2
27,￿2
3,812
2,TJ5
27.902
1735
Total Incomlng resources
5022
EKpendlture on:
Costs of generatlngfunds
Fundraising
Shop- Cost of sales
Totsl costs of 8eneratln8 funds
Net Incomlng resources ayallable for
tharlt•A>le appllcatlon
785 61293
Re50111re5 expended
Charitable expenditure
Cost of operatingthe musèum
Managing and admlnlstefingthe CIO
129.632
7,914
59.382
7,7LII
196.718
7,914
Total resouros •xynd¢d
137,546
59.382
7.704 204632
Net in¢omin8 loutgolngl reSOur￿S betore
transfers
18.7611
911
17.7041 115.5541
Transfers
17.9JOI
Net incoming loutgoingl ￿50￿r￿S after
transfers
18611
I6,￿9)
17.7041 115,5541
Total fund5 at l April 2023
Totsl lunds at31 March h124
174,256
171395
14,248
549,271
737,775
$41.S67 7U221
24 |Page