Charity registration number: 1182054
## The Rachel Kay-Shuttleworth Textile Collections
Annual Report and Financial Statements for the Year Ended 31 March 2025
KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Contents**
|Reference and Administrative Details|1|
|---|---|
|Trustees' Report|2 to 7|
|Statement of Trustees' Responsibilities|8|
|Independent Examiner's Report|9|
|Statement of Financial Activities|10|
|Balance Sheet|11|
|Notes to the Financial Statements|12 to 21|
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Reference and Administrative Details**
**Trustees** The Rt Hon Lord Shuttleworth KG KCVO The Hon Sally Figgins Georgiana Foster Michael Millward Ashley Sutcliffe Dennis Mendoros OBE DL Ian Brown Tom Kay-Shuttleworth Charlotte Steels **Charity Registration Number** 1182054 **Principal Office** Estate Office Cowan Bridge Carnforth Lancashire LA6 2HS **Independent Examiner** KM Chartered Accountants 1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG **Solicitors** Taylors Rawlings House Exchange Street Blackburn Lancashire BB1 7JN **Bankers** Barclays Bank 72 St James Street Burnley Lancashire BB11 1NH
Page 1
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report**
The trustees present the annual report together with the financial statements of the charity for the year ended 31 March 2025.
## **Trustees**
The Rt Hon Lord Shuttleworth KG KCVO
The Hon Sally Figgins Georgina Foster Michael Millward Ashley Sutcliffe Dennis Mendoros OBE DL
Ian Brown Fiona Richie (Resigned 25th July 2024) Charlotte Steels
Tom Kay-Shuttleworth
## **Objectives and activities**
## _**Objects and aims**_
The Charity's statement of purpose is:
To hold the Rachel Kay-Shuttleworth Collections of woven, embroidered and other materials, tapestries, garments, books, objects d'art and other articles, and to realise Rachel Kay Shuttleworth's vision for inspiring people and encouraging learning through textile craft and heritage.
The aims of the Charity are:
1 To research, document, display and care for the Collection to approved museum standards.
2 To publicly share and communicate the story of textile heritage through the Rachel Kay-Shuttleworth (RBKS) Collection.
3 To create opportunities for things to be made, skills to be shared and learned.
4 To engage a broad range of people through programmes that inspire.
5 To work with artists and arts organisations to challenge perceptions of textile heritage and reinterpret the collection for a contemporary audience.
6 To realise Miss Rachel's vision of creating a craft based centre for education and training.
Page 2
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report (continued)**
The current objectives of the Charity are to:
1 Develop a programme of collections care and collection review to ensure that collections are stored and displayed to the best possible standards, in line with Accreditation.
2 To become a resilient and financially stable organisation for the benefit of future generations.
3 Develop the Collection through research, acquisition and new interpretation to ensure relevance, build sustainability and broaden audience appeal.
4 Be a visitor destination and to deliver an excellent visitor experience by curating inclusive spaces that inspire.
5 Develop an innovative learning and community engagement programme catering to both formal (schools, colleges and universities) and informal (family and community based) learning.
6 Work in close partnership with Gawthorpe Hall site partners, local museums, arts and educational organisations within Pennine Lancashire to deliver efficient and effective programmes and services and to raise the profile of the Collection.
7 Work with national textile organisations to share knowledge and expertise.
When planning activities for the year, the Trustees have considered the Charity Commission's guidance on public benefit and in particular, the specific guidance on charities for the advancement of education.
## _**Public benefit**_
The trustees confirm that they have complied with the requirements of section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission for England and Wales.
## **Achievements and performance**
Key activities undertaken have included:
Opening of the new premises at Northlight - Following the move of the archive to its new home at Northlight in 2023 we held the official opening in April 2024. We welcomed over 80 guests including the Lord Lieutenant of Lancashire who opened the new facilities. Guests heard from the Chair of Trustees about the history of the Collection, the Curator who shared stories behind a few of the key items and then guests were invited to join the Collections Officer for a tour of the archive.
Refitting and redisplaying the Galleries - With funding received from the National Lottery Heritage Fund’s Dynamic Collections programme we were able to refit the five gallery spaces at Gawthorpe Hall. We were originally planning to replace the six original display cases with new modern ones. However, we worked with a company that allowed us to keep the original oak frames carcases but update the carcases to include lockable double doors that made the displays easier to access, improved hanging and shelving as well as installing more energy efficient lighting. We also added three new desk top cases to galleries four and five and repainted gallery one. The funding also allowed us to improve the interpretation throughout the five gallery spaces.
We then completely redisplayed the five gallery spaces with an exhibition on the theme of colour and the galleries were formally opened in July 2024.
Page 3
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report (continued)**
Scottish Power Foundation - we secured funding from the Scottish Power Foundation that has allowed us to research and archive some of Rachel Kay-Shuttleworth’s papers. It also allowed us to research and write a book about Rachel, her life and the Collection. This was published in March 2025 and the official launch of the book was held at Gawthorpe Hall, Rachel's ancestral home, on 4th April 2025.
The funding also allowed us to develop four new talks about the Collection and run a series of two-day workshops. The workshop tutors were asked to take inspiration from the Collection to develop their workshops and inspire participants.
Connected Communities - we were awarded two grants from the Connected Communities Fund. This funding was part of the DCMS Know Your Neighbourhoods Fund and administered by the Association of Independent Museums. The purpose of the funding was to address social isolation and loneliness. We partnered with Towneley Hall in Burnley to deliver a weekly social sewing group. Run by our Community Engagement Officer we coordinated a range of activities that included:
- 1) Artist led workshops that were inspired by our Collection.
- 2) Training in conversation skills delivered by our Collections Officer.
3) Opportunities to get involved in group projects including creating bunting for the Hall for when it reopens, Feelie bags for use by the Education Team and making chair covers.
4) Support to develop their own projects.
5) Trip to the Knitting and Stitching Show in Harrogate.
The original project grant came to an end in February but the original application included some seed funding to support the project in the longer term. A second grant was also awarded to us in February 2025 that we have used to pay for a bid writer. They have been writing funding applications that would support the group in the longer term.
Shared Prosperity - this funding supported outreach work in Burnley. We ran a series of ½, 1 day and three day workshops across Burnley and Padiham as well as taster sessions in a range of community venues. Workshops included felt making, batik, embroidery, mending, printmaking and natural dying. Such was the popularity of the activities we ended up running additional courses.
We also ran our popular Re:Fashion course but for adults. We also ran a version of Re:Fashion in conjunction with Burnley Youth Theatre. Entitled ‘Re:Image’ it focuses on creating costume from pre loved clothing and fabrics. The participants took part in a photoshoot and the garments were exhibited at UCLan before the display was moved to the youth theatre.
Re:Fashion - Now in its fourth year this year we ran the course at Northlight and 21 young people aged 13-18 took part. The theme this year was Met Gala and participants created outfits suitable for the event. The work was then professionally photographed and appeared in an online zine as well as being published on the Lancashire Textiles Treasures website. The project is a collaboration between Gawthorpe Textiles Collection, University of Central Lancashire and Super Slow Way.
Loan of Painting to Beningbrough Hall - We were asked to loan a painting from the collection to the National Trust property Beningbrough Hall. The picture was ‘Japan’ by Marianne North, a relative of the Kay-Shuttleworth family, for an exhibition of botanical Art.
Podcast - we took part in a pod cast with our local radio station Radio Lancashire. It was part of their Hidden Gems series and we talked about the pageant outfits that we were mounting as part of the centenary celebrations of the 1925 Girl Guide pageant that took place at Gawthorpe Hall.
Page 4
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report (continued)**
Publications - We had two articles published in magazines. The first was in UK magazine Stitch and was a profile of our Curator and the Collection. The second was in a USA magazine called Piecework and focused on the Puchas Bequest of Goldwork.
Business Development Group - This group comprises two Board and two independent members. They have been tasked by the Board to develop unrestricted income streams to protect the long-term financial sustainability of the organisation. They have met regularly and have developed a new Business Development Strategy for the organisation with a focus on generating an income from the collection including licensing designs.
Licensing - We currently have active licensing agreements with four companies. The Business Development Group are looking to expand this now that the archive is in its new home and is more readily accessible. We saw one of our existing licensees launch a range of new products and we signed two additional contracts which will begin to generate an income in 2025/26.
Educational engagement - we continue to enjoy a very successful partnership with the University of Central Lancashire. We have run a range of study visits both at their campus in Preston and at our new premises at Northlight. We continue to be a member of the BA Textiles and Surface Design Advisory Board at the University of Bolton and have joined the Advisory Board at Nelson and Colne College Group for Digital and Creative skills. We also hosted three work placement students this year. Two helped with the database and one was involved in mounting costume.
Community engagement - we continue to attend network events that take place across Burnley and Pendle. We are also involved with Museums North and the Lancashire Museums Forum.
Volunteers - we continue to be supported by a committed and enthusiastic volunteer team. They have been supporting us in the archive with the cataloguing and photography as well as at events and study visits.
Reach - Through the delivery of outreach programmes, talks, workshops and study visits we supported 1,007 (2023/24 - 777) beneficiaries during the year. This excludes those people that visited the Hall.
|**Activity**|**Number of participants**|
|---|---|
|Outreach|219|
|Talks|639|
|Visit to the archive|81|
|Courses|46|
|Study Visits|22|
|Total|1,007|
## **Financial review**
The financial statements show the financial position of the charity at the year end. Total funds amounted to £416,863.
## _**Policy on reserves**_
The Trustees have continued to review the risks which might affect the Collection and the Trustees' ability to realise their objectives. The Trustees consider that policies and plans sufficient to mitigate the risks are in place.
Reserves are reviewed annually. The Trustees maintain a level of reserves considered necessary to discharge its obligations in the event that the charity was to be wound up. They also maintain a level of working capital reserve in order to successfully manage any contracts that are paid on a defrayed basis.
Page 5
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report (continued)**
## **Plans for future periods**
The Trustees have continued to focus on the long-term vision for the organisation. Key to this vision was the relocation of the archive to Northlight to safeguard the collection. Their focus now is on developing the studio space at Northlight and creating a hub where a variety of high-quality courses, events, talks and study visits can take place. We will need to raise the profile of the organisation both locally and further afield to attract individuals, groups and academics to our new premises.
The financial sustainability of the organisation remains paramount and the Board are looking at new ways to generate unrestricted income streams. The Business Development Group will support the Board by looking at how best to generate an income from our main asset, the Collection.
We will continue to raise the profile of the Charity and Collection both locally and more widely through linking nationally and internationally with academics and experts, delivering outreach programmes, undertaking general and targeted promotions activity, as well as continuing to deliver high quality programmes of exhibitions, workshops and events to the public - both face to face and online.
## **Structure, governance and management**
## _**Nature of governing document**_
The Charity is a Charitable incorporated Organisation (CIO). It was registered on 15 February 2019 with the Charity Commission and is governed by its Constitution dated 24 January 2019. The Charity remained dormant until 28 November 2019. On this date the Charity received the net assets of The Rachel Kay-Shuttleworth Textile Collection (registered number 516227), an existing unincorporated trust with the same charitable objective as the charity. This reconstruction was accounted for under the merger accounting method in accordance with the Charities SORP (FRS 102). The Charity's working name is Gawthorpe Textiles Collection. The Charity Commission registration number and principal office are given on the information page at the beginning of these financial statements.
## _**Organisational structure**_
The Trustees agree the broad strategy and areas of activity of the Trust. They consider the performance of the Trust's investments and review the risks facing the Charity.
A Business Development Group has been established and they report to the Board. This group comprises Board representation and the Director but also includes two external members with knowledge of business, public sector and grant giving. They have been tasked with looking at how best to generate an income from our main asset, the Collection.
The charity is run by a team of four. The Director has day to day responsibility for the administration of the organisation and is supported by three part time staff namely the Curator, Collections Officer and Outreach Officer.
The paid staff team is supported by a small team of 15 dedicated volunteers.
Page 6
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Trustees' Report (continued)**
## _**Risk management**_
The trustees have a formal risk management policy in place and a strategic and operational risk register to assess risk and implement risk management strategies.
Internal risks are minimised by the implementation of procedures and authorisation processes of all transactions to ensure the consistent quality of delivery for all operational aspects of the charitable company. Procedures are in place to ensure compliance with health and safety of staff, volunteers, beneficiaries and visitors to the premises.
These procedures are periodically reviewed to ensure that they are meeting the needs of the Charity.
The annual report was approved by the trustees of the charity on 25 September 2025 and signed on its behalf by:
.........................................
The Rt Hon Lord Shuttleworth KG KCVO Trustee
Page 7
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Statement of Trustees' Responsibilities**
The trustees are responsible for preparing the trustees' report and the financial statements in accordance with the United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice) and applicable law and regulations.
The law applicable to charities requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in business.
The trustees are responsible for keeping proper accounting records that 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 Charities (Accounts and Reports) Regulations 2008, and the provisions of the constitution. The trustees 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.
Page 8
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Independent Examiner's Report to the trustees of The Rachel Kay-Shuttleworth Textile Collections**
I report to the trustees on my examination of the accounts of The Rachel Kay-Shuttleworth Textile Collections for the year ended 31 March 2025.
## **Responsibilities and basis of report**
As the charity trustees of The Rachel Kay-Shuttleworth Textile Collections you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’).
I report in respect of my examination of the The Rachel Kay-Shuttleworth Textile Collections's accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act.
## **Independent examiner’s statement**
Since The Rachel Kay-Shuttleworth Textile Collections's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of the Association of Charity Independent Examiners, which is one of the listed bodies.
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. accounting records were not kept in respect of The Rachel Kay-Shuttleworth Textile Collections as required by section 130 of the Act; or
2. the accounts do not accord with those records; or
3. the accounts do not comply with the accounting requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a ‘true and fair view' which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
...................................... Mark Heaton FCCA FCIE DChA the Association of Charity Independent Examiners
1st Floor, Block C The Wharf Manchester Road Burnley Lancashire BB11 1JG
25 September 2025
Page 9
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Statement of Financial Activities for the Year Ended 31 March 2025**
|**Note**
**Income from:**
Donations
2
Charitable activities
3
Other trading activities
4
Investment income
5
Total income
**Expenditure on:**
Charitable activities
6
Total expenditure
Gains/losses on investment assets
Net income/(expenditure)
Gross transfers between funds
Net movement in funds
**Reconciliation of funds**
Total funds brought forward
Total funds carried forward
17|**Unrestricted**
**funds**
**£**
107,357
-
28,138
14,041
149,536
(87,387)
(87,387)
9,126
71,275
94,482
165,757
224,927
390,684|**Restricted**
**funds**
**£**
24,328
168,338
-
-
192,666
(156,447)
(156,447)
-
36,219
(94,482)
(58,263)
84,442
26,179|**Total**
**2025**
**£**
131,685
168,338
28,138
14,041
342,202
(243,834)
(243,834)
9,126
107,494
-
107,494
309,369
416,863|**Unrestricted**
**funds**
**£**
7,042
-
7,608
13,385
28,035
(68,345)
(68,345)
(3,974)
(44,284)
59,802
15,518
209,409
224,927|**Restricted**
**funds**
**£**
-
181,243
-
-
181,243
(109,104)
(109,104)
-
72,139
(59,802)
12,337
72,105
84,442|**Total**
**2024**
**£**
7,042
181,243
7,608
13,385|
|---|---|---|---|---|---|---|
|||||||209,278|
|||||||(177,449)|
|||||||(177,449)
(3,974)|
|||||||27,855
-|
|||||||27,855
281,514|
|||||||309,369|
All of the charity's activities derive from continuing operations during the above two periods. The funds breakdown for 2024 is shown in note 17.
The notes on pages 12 to 21 form an integral part of these financial statements. Page 10
## **The Rachel Kay-Shuttleworth Textile Collections**
## **(Registration number: 1182054) Balance Sheet as at 31 March 2025**
|**Note**
**Fixed assets**
Tangible assets
11
Investments
12
**Current assets**
Debtors
13
Cash at bank and in hand
**Creditors: Amounts falling due within one year**
14
**Net current assets**
**Total assets less current liabilities**
**Creditors: Amounts falling due after more than one year**
15
**Net assets**
**Funds of the charity:**
**Restricted income funds**
Restricted funds
**Unrestricted income funds**
Designated funds
General funds
Total unrestricted funds
**Total funds**
17|**2025**
**£**
153,151
222,706
375,857
73,675
42,037
115,712
(14,484)
101,228
477,085
(60,222)
416,863
26,179
253,151
137,533
390,684
416,863|**2024**
**£**
71,985
213,579|
|---|---|---|
|||285,564|
|||29,116
80,662|
|||109,778
(16,829)|
|||92,949|
|||378,513
(69,144)|
|||309,369|
|||84,442
171,985
52,942|
|||224,927|
|||309,369|
The financial statements on pages 10 to 21 were approved by the trustees, and authorised for issue on 25 September 2025 and signed on their behalf by:
.........................................
The Rt Hon Lord Shuttleworth KG KCVO Trustee
The notes on pages 12 to 21 form an integral part of these financial statements. Page 11
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025**
## **1 Accounting policies**
## **Statement of compliance**
The financial statements have been prepared in accordance with the second edition of the Charities Statement of Recommended Practice issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102) and the Charities Act 2011.
## **Basis of preparation**
The Rachel Kay-Shuttleworth Textile Collections meets the definition of a public benefit entity under FRS 102. The accounts (financial statements) have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
## **Going concern**
The trustees consider that there are no material uncertainties about the charity's ability to continue as a going concern.
## **Income and endowments**
Voluntary income including donations, gifts, legacies and grants that provide core funding or are of a general nature is recognised when the charity has entitlement to the income, it is probable that the income will be received and the amount can be measured with sufficient reliability.
## **Expenditure**
All expenditure is recognised once there is a legal or constructive obligation to that expenditure, it is probable settlement is required and the amount can be measured reliably. All costs are allocated to the applicable expenditure heading that aggregate similar costs to that category. Where costs cannot be directly attributed to particular headings they have been allocated on a basis consistent with the use of resources, with central staff costs allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use. Other support costs are allocated based on the spread of staff costs.
## _**Charitable activities**_
Charitable expenditure comprises those costs incurred by the charity in the delivery of its activities and services for its beneficiaries. It includes both costs that can be allocated directly to such activities and those costs of an indirect nature necessary to support them.
## **Governance costs**
These include the costs attributable to the charity’s compliance with constitutional and statutory requirements, including independent examination, strategic management and trustees meetings and reimbursed expenses.
## **Taxation**
The charity is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes. Accordingly, the charity is potentially exempt from taxation in respect of income or capital gains received within categories covered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section 256 of the Taxation of Chargeable Gains Act 1992, to the extent that such income or gains are applied exclusively to charitable purposes.
Page 12
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **Tangible fixed assets**
Individual fixed assets are initially recorded at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
## **Depreciation and amortisation**
Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:
## **Asset class**
Plant and machinery
## **Depreciation method and rate**
Over 10 years straight line.
## **Fixed asset investments**
Fixed asset investments, other than programme related investments, are included at market value at the balance sheet date. Realised gains and losses on investments are calculated as the difference between sales proceeds and their market value at the start of the year, or their subsequent cost, and are charged or credited to the Statement of Financial Activities in the period of disposal.
Unrealised gains and losses represent the movement in market values during the year and are credited or charged to the Statement of Financial Activities based on the market value at the year end.
## **Trade creditors**
are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
## **Fund structure**
Unrestricted income funds are general funds that are available for use at the trustees discretion in furtherance of the objectives of the charity.
Designated funds are unrestricted funds set aside for specific purposes at the discretion of the trustees.
Restricted income funds are those donated for use in a particular area or for specific purposes, the use of which is restricted to that area or purpose.
## **Pensions and other post retirement obligations**
The charity operates a defined contribution pension scheme which is a pension plan under which fixed contributions are paid into a pension fund and the charity has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised in the Statement of Financial Activities when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.
Page 13
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **2 Income from donations**
|**Unrestricted**
**funds**
**General**
**£**
Donations and legacies;
Gift aid reclaimed
3,575
Donations
107,357
110,932
**3**
**Income from charitable activities**
Grant income
**4**
**Income from other trading activities**
Royalties received
Other income from other trading activities
**5**
**Investment income**
Interest receivable and similar income;
Interest receivable on bank deposits
Other income from fixed asset investments|**Restricted**
**funds**
**£**
-
24,328
24,328
**Restricted**
**funds**
**£**
168,338
168,338
**Unrestricted**
**funds**
**General**
**£**
6,723
21,415
28,138
**Unrestricted**
**funds**
**General**
**£**
766
13,275
14,041|**Total**
**2025**
**£**
3,575
131,685
135,260
**Total**
**2025**
**£**
168,338
168,338
**Total**
**funds**
**£**
6,723
21,415
28,138
**Total**
**2025**
**£**
766
13,275
14,041|**Total**
**2024**
**£**
-
7,042|
|---|---|---|---|
||||7,042|
||||**Total**
**2024**
**£**
181,243|
||||181,243|
||||**Total**
**2024**
**£**
-
7,608|
||||7,608|
||||**Total**
**2024**
**£**
770
12,615|
||||13,385|
Page 14
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **6 Expenditure on charitable activities**
|**Note**
Charitable activities
Depreciation
Governance costs
7
Staff costs
8|**Unrestricted funds**
**Designated**
**£**
**General**
**£**
-
25,758
15,551
-
-
40,583
-
5,495
15,551
71,836|**Restricted**
**funds**
**£**
89,578
-
40,367
26,502
156,447|**Total**
**2025**
**£**
115,336
15,551
80,950
31,997
243,834|**Total**
**2024**
**£**
68,333
4,056
73,018
32,042|
|---|---|---|---|---|
|||||177,449|
## **7 Analysis of governance and support costs**
## **Governance costs**
|Staff costs
Legal fees
Independent Examiner's
remuneration|**Unrestricted**
**funds**
**General**
**£**
38,816
67
1,700
40,583|**Restricted**
**funds**
**£**
36,712
3,655
-
40,367|**Total**
**2025**
**£**
75,528
3,722
1,700
80,950|**Total**
**2024**
**£**
66,193
5,325
1,500|
|---|---|---|---|---|
|||||73,018|
Page 15
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **8 Staff costs**
The aggregate payroll costs were as follows:
|**Staff costs during the year were:**
Wages and salaries
Social security costs
Pension costs
Of which relating to key management personnel:
Wages and salaries
Social security costs
Pension costs|**2025**
**£**
77,665
24,962
4,898
107,525
53,786
16,844
4,898
75,528|**2024**
**£**
75,373
18,453
4,409|
|---|---|---|
|||98,235|
|||48,485
13,299
4,409|
|||66,193|
The monthly average number of persons (including senior management / leadership team) employed by the charity during the year expressed as full time equivalents was as follows:
|Charitable activities
No employee received emoluments of more than £60,000 during the year
**9**
**Independent examiner's remuneration**
Examination of the financial statements|**2025**
**No**
4
**2025**
**£**
1,700|**2024**
**No**
4|
|---|---|---|
|||**2024**
**£**
1,500|
## **10 Taxation**
The charity is a registered charity and is therefore exempt from taxation.
Page 16
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **11 Tangible fixed assets**
|**11 Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 April 2024
Additions
At 31 March 2025
**Depreciation**
At 1 April 2024
Charge for the year
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024|**Plant and**
**machinery**
**£**
76,041
96,717
172,758
4,056
15,551
19,607
153,151
71,985|**Total**
**£**
76,041
96,717|
|||172,758|
|||4,056
15,551|
|||19,607|
|||153,151|
|||71,985|
Page 17
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **12 Fixed asset investments**
|**12 Fixed asset investments**|||||
|---|---|---|---|---|
|Other investments
**Other investments**
**Cost or Valuation**
At 1 April 2024
Revaluation
At 31 March 2025
**Net book value**
At 31 March 2025
At 31 March 2024
**13 Debtors**
Trade debtors
Prepayments
Other debtors
**14 Creditors: amounts falling due within one year**
Bank loans
Trade creditors
Accruals
**15 Creditors: amounts falling due after one year**
Bank loans||**2025**
**£**
222,706
**Listed**
**investments**
**£**
213,579
9,127||**2024**
**£**
213,579|
|||||**Total**
**£**
213,579
9,127
222,706
222,706
213,579
**2024**
**£**
27,943
1,173
-|
|||222,706|||
|||222,706|||
|||213,579|||
|||**2025**
**£**
69,186
915
3,574
73,675
**2025**
**£**
8,922
3,862
1,700
14,484
**2025**
**£**
60,222|||
|||||29,116|
|||||**2024**
**£**
8,922
6,406
1,501|
|||||16,829|
|||||**2024**
**£**
69,144|
Page 18
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **16 Pension and other schemes**
## **Defined contribution pension scheme**
The charity operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the charity to the scheme and amounted to £4,899 (2024 - £4,408).
## **17 Funds**
|**Unrestricted funds**
General
**Designated**
Closedown reserve
Fixed asset reserve
**Total unrestricted funds**
**Restricted funds**
John Murray Charitable
Trust
Northern Cultural
Regeneration Fund
Cherish The Past
Heritage Fund
AIM Connected
Communities Grant
Scottish Power
Foundation
Shared Prosperity
Cotton War Memorial
Trust
The Lovington
Foundation
**Total funds**|**Balance at**
**1 April**
**2024**
**£**
52,942
100,000
71,985
171,985
224,927
903
-
-
35,412
48,127
-
-
-
84,442
309,369|**Incoming**
**resources**
**£**
143,797
-
-
-
143,797
-
-
137,000
14,262
-
17,076
14,328
10,000
192,666
336,463|**Resources**
**expended**
**£**
(66,097)
-
(15,551)
(15,551)
(81,648)
(138)
(15,632)
(41,995)
(42,055)
(34,041)
(15,690)
(6,896)
-
(156,447)
(238,095)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
(2,235)
9,126
-
-
96,717
-
96,717
-
94,482
9,126
-
-
15,632
-
(95,005)
-
(2,837)
-
(10,886)
-
(1,386)
-
-
-
-
-
(94,482)
-
-
9,126|**Balance at**
**31 March**
**2025**
**£**
137,533
100,000
153,151|
|---|---|---|---|---|---|
||||||253,151|
||||||390,684|
||||||765
-
-
4,782
3,200
-
7,432
10,000|
||||||26,179|
||||||416,863|
Page 19
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
|**Unrestricted funds**
General
**_Designated_**
Closedown reserve
Fixed asset reserve
**Total unrestricted funds**
**Restricted funds**
John Murray Charitable
Trust
Northern Cultural
Regeneration Fund
Heritage Fund
Other Funds
Queen's Jubilee Fund
Garfield Weston
Foundation
Cherish The Past
Heritage Fund
AIM Connected
Communities Grant
Scottish Power
Foundation
**Total funds**|**Balance at**
**1 April**
**2023**
**£**
73,409
136,000
-
136,000
209,409
903
42,350
7,381
6,397
74
15,000
-
-
-
72,105
281,514|**Incoming**
**resources**
**£**
28,035
-
-
-
28,035
-
-
19,802
900
-
-
77,002
35,412
48,127
181,243
209,278|**Resources**
**expended**
**£**
(64,289)
-
(4,056)
(4,056)
(68,345)
-
(4,319)
(26,883)
(900)
-
-
(77,002)
-
-
(109,104)
(177,449)|**Transfers**
**£**
**Other**
**recognised**
**gains/(losses)**
**£**
19,761
(3,974)
(36,000)
-
76,041
-
40,041
-
59,802
(3,974)
-
-
(38,031)
-
(300)
-
(6,397)
-
(74)
-
(15,000)
-
-
-
-
-
-
-
(59,802)
-
-
(3,974)|**Balance at**
**31 March**
**2024**
**£**
52,942
100,000
71,985|
|---|---|---|---|---|---|
||||||171,985|
||||||224,927|
||||||903
-
-
-
-
-
-
35,412
48,127|
||||||84,442|
||||||309,369|
Page 20
## **The Rachel Kay-Shuttleworth Textile Collections**
## **Notes to the Financial Statements for the Year Ended 31 March 2025 (continued)**
## **18 Analysis of net assets between funds**
|Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets
Tangible fixed assets
Fixed asset investments
Current assets
Current liabilities
Creditors over 1 year
Total net assets|**Unrestricted funds**
**General**
**£**
**Designated**
**£**
-
153,151
122,706
100,000
89,532
-
(14,484)
-
(60,222)
-
137,532
253,151
**Unrestricted funds**
**General**
**£**
**Designated**
**£**
-
71,985
101,184
100,000
37,731
-
(16,829)
-
(69,144)
-
52,942
171,985|**Restricted**
**funds**
**£**
-
-
26,179
-
-
26,179
**Restricted**
**funds**
**£**
-
12,395
72,047
-
-
84,442|**Total funds at**
**31 March**
**2025**
**£**
153,151
222,706
115,711
(14,484)
(60,222)|
|---|---|---|---|
||||416,862|
||||**Total funds at**
**31 March**
**2024**
**£**
71,985
213,579
109,778
(16,829)
(69,144)|
||||309,369|
## **19 Related party transactions**
During the year a grant of £60,000 was received from the Shuttleworth Foundation. Both The Rt Hon Lord Shuttleworth and Tom Kay-Shuttleworth are trustees of the Shuttleworth Foundation.
Donations amounting to £2,200 were received from two trustees.
Page 21