2024-03-31-accounts

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Registered number: 11774969 Charity number: 1186986

Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report and financial statements For the year ended 31 March 2024

Royal Pavilion and Museums Trust

(A company limited by guarantee)

	Page
Reference and administrative details of the Company, its Trustees and advisers	1
Trustees' report	2 - 19
Independent auditors' report on the financial statements	20 - 23
Consolidated statement of financial activities	24
Consolidated balance sheet	25 - 26
Company balance sheet	27 - 28
Consolidated statement of cash flows	29
Notes to the financial statements	30 - 53

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Reference and administrative details of the Company, its Trustees and advisers For the year ended 31 March 2024

Trustees	Michael Bedingfield DL, Chair of RPMT
	Angela Smith PhD, Chair Finance & General Purpose Committee
	Atiya Gourlay
	Brad Irwin PhD, MBE
	Councillor Alan Robins
	David James Charles Anderson OBE
	Davinder Dhillon OBE, DL
	Jane Avard Weeks, Vice Chair of RPMT & Chair of Nominations & Remuneration Committee
	Lord John Steven Bassam
	Rebecca Crook, Chair of RPMT Enterprises Ltd
	Shaun Romain
	Sue Wilkinson OBE, Chair ACE Oversight Committee
	Timothy John Mellor Aspinall
	Councillor Susan Elizabeth Shanks
	Councillor Amanda Grimshaw BEM
Company registered number 11774969 Charity registered number 1186986 Registered office 4-5 Pavilion Buildings Brighton BN1 1EE Chief executive officer Hedley Swain Independent auditors Kreston Reeves LLP Chartered Accountants 9 Donnington Park 85 Birdham Road Chichester West Sussex PO20 7AJ

Page 1

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report For the year ended 31 March 2024

The Trustees present their annual report together with the audited financial statements of the Company for the period 1 April 2023 to 31 March 2024. The annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019).

Since the group and the Company qualify as small under section 383 of the Companies Act 2006, the Group strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted.

The period 2023-24 represented the third full year of trading for the Royal Pavilion & Museums Trust (RPMT, also referred to as Brighton & Hove Museums (B&HM)). The Trust, although incorporated in February 2020 did not take on the running of the Royal Pavilion & Museums service until 1 October 2020. The original transfer date of 1 April was delayed due to the COVID pandemic. These financial statements show a consolidated position which includes the Trust and Royal Pavilion & Museums Enterprises Ltd, the Trading subsidiary, and the Royal Pavilion & Museum Foundation of the RPMT. The Foundation, the charity previously linked to the Royal Pavilion & Museums, has since 1 October 2020 had one corporate Trustee, the Royal Pavilion & Museums Trust, and is maintained due to an existing endowment fund.

Objectives and activities

a. Policies and objectives

a) The Objects of the Charity are:

The advancement of, including the advancement of public appreciation in, the arts, culture, heritage, and science, in particular (without limitation) by:
managing, operating, maintaining and improving the Royal Pavilion & Museums and their permanent collections, including by acquiring suitable objects for the collections;
preserving and safeguarding the land and the buildings of the Royal Pavilion & Museums; and providing for, or supporting, the establishment, maintenance, refurbishment and enhancement of other exhibitions and displays of collections in the Brighton and Hove area; and
The advancement of education, particularly (but not exclusively), in relation to heritage, culture and the arts; and
The maintenance and provision of land and facilities for recreation or other leisure time occupation for the general public in the interests of social welfare and with the object of improving their condition of life.
Brighton & Hove Museums (BHM) shall mean the Royal Pavilion & Garden, Brighton Museum & Art Gallery, Preston Manor & Garden, Hove Museum of Creativity, and Booth Museum of Natural History.

In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

b. Strategies for achieving objectives

Following the successful transfer of the Royal Pavilion and Museums to the Trust in October 2020 the Trustees set targets and goals for our first five years:

In five years’ time we aim to be the best Civic Museum Service in the country, with, at its heart, an Estate of World Heritage site status and an attraction on the must-see list for international visitors to the UK. In addition, we want to be a museum service that brings true value to all the people of Brighton & Hove who feel a real sense of ownership and involvement in its work.

Achieving this has been reliant on a radical root and branch review of the new organisation to ensure it not only emerges from the unparalleled impact of COVID, and the challenges it has presented with a successful business model, but also that it emerges from the long-term uncertainty and working practices of local authority service to become a confident independent and forward-facing business.

Strategic Framework

After transfer on 1 October 2020 the Trust identified three head-line priorities as benchmarks for a successful service with a series of sub-priorities and three meta- or overarching priorities. These were endorsed by trustees and key stakeholders, shared with staff and formed the basis of the first two years’ operational plan.

Our priorities

We wil l

1. Be a brilliant museum service for the people of Brighton & Hove:

1.1. Be inclusive and equitable in all we do, and occasionally be unconventional and disruptive.
1.2. Have galleries, exhibitions, programmes, on-line content, and events that are expert, exciting, innovative, and relevant to all the people of Brighton & Hove and make their lives richer.
1.3. Reflect the values of Brighton & Hove and do all we can to be environmentally sustainable; to source our services locally, be ethical and socially responsible.
1.4. Manage our collections dynamically and look after our collections, buildings and green spaces to the very highest standards.

Offering world class visitor venues:

2.1. Ensure as many people as possible know about our venues and as many people as possible visit them. 2.2. Ensure that our venues and everything that goes on in them offer great value for money, are well received and commented on, that people want to come back to them and recommend them to others.

3. Be well run, dynamic, resilient and sustainable:

3.1. Be enterprising, dynamic and fleet-of-foot in looking for opportunities to build our business model. 3.2. Professionally manage our finances, maximizing every opportunity to raise funds for the wellbeing of the service. We will work within our financial means.
3.3. Be receptive to all our stakeholders, most importantly Brighton & Hove City Council.
3.4. Have excellent staff, look after them and make sure they are diverse and reflect the population of contemporary Brighton & Hove. We will take personal and collective responsibility for what we do. We will be kind to each other and those we come into contact with.

4. Meta priorities:

4.1. Be excellent in everything we do and will innovate in museum practice, being part of global museum debates and supporting the museum sector regionally.
4.2. Have a world class reputation for excellence that enhances the position of Brighton nationally and internationally.
4.3. Be a listening and learning organisation. We will always seek to listen to what others have to say. We will always seek to learn from each other and others, so we become a better organisation.

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Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

Although many of the priorities above involve reviews and changes in process, we want all to be focused on long-term outcomes and impacts. For now, we will keep these simple but try to ensure everything we are doing is delivering to one or more of these outcomes:

Increased revenue generation for the Trust.
Higher quality engagement for B&H residents.
Higher quality engagement for all visitors.
Higher effectiveness of RPMT staff.

These priorities were adapted in the summer of 2022 when following a major rebranding exercise we adopted our new brand, mission and vision:

Mission & Vision

We are a world-renowned home for the curious, creative and progressive.

Many influences meet here – royal and rebel, dandy and dreamer, artist and activist – to form a collection of dynamic destinations that are greater than the sum of their parts.

We achieve this because we are:

continually surprising people, including ourselves
loved by locals and treasured by the world
inspiring, and inspired by, the community around us
sparking curiosity, starting conversations and sharing stories
championing progress, diversity and sustainability

In autumn 2022 we were awarded a further three years funding from Arts Council England (ACE) as part of their 2023-26 National Portfolio. At that time we aligned our original strategic objectives and new mission and vision, priorities and work plan with ACE’s ten year strategy “Lets Create”. This revision was also used in our plan submitted to Brighton & Hove City Council (BHCC) in January 2023 and forms the basis of our 2023-24 service level agreement with BHCC.

c. Activities undertaken to achieve objectives

The 2023-24 financial year is the third full year Royal Pavilion and Museums Trust has operated as an independent charity having been formed in October 2020. After two very difficult years we have worked through and emerged from the COVID pandemic and dealt with other challenges that have affected visitor numbers and our financial position. In early Spring 2023 we put in place a business plan for the 2023-24 year that would seek to see us break even and plan with more confidence for the future. This involved making some difficult decisions over savings but also developing our income generating ability including a new ticketing structure and revised opening times. Despite ongoing uncertainty and challenges we hit the majority of our targets for the year, resulting in a modest operating deficit of £105k.

In 2023-24, we have delivered a strong programme of public exhibitions and events bringing visitors to the city and delivered value to our schools and communities. We have also continued to play a significant role within the national and international museum community and the regional visitor economy. Our successes are perhaps best epitomised through two highly popular and critically acclaimed exhibitions at Brighton Museum and Art Gallery: Roger Bamber Out of the Ordinary (April to September) and Lee Miller: Dressed (October to February).

Full details of our activity for the year are reported on below.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

d. Social investment policies

Our charitable objectives and strategic priorities commit us to delivering social benefit to the people of Brighton & Hove and beyond through everything we do.

e. Grant-making policies

The Trust does not under normal circumstances make grants to third parties. However as in previous years in 2023-24, we acted as the managing organisation for the South East England Museum Development Service, funded directly by Arts Council England that is a grant-making organisation. We also provide some minor support for students and international museums through our grants from the James Henry Green Charitable Trust.

f. Volunteers

The Trust is pleased to work extensively with volunteers. Volunteers contribute to the organisation working across a variety of roles including Community Engagement, Learning, Gardening, Collections Care, Research, Event Support and Conservation.

During 2023-24 we worked with 88 volunteers contributing 1,400 hours. We fully recognise the value volunteering brings to us as an organisation and the benefits it brings to those who volunteer.

g. Main activities undertaken to further the Company's purposes for the public benefit

The Trust manages: The Royal Pavilion (Grade 1 listed) The Royal Pavilion Garden (Grade 2 listed on Historic England’s register of parks) Brighton Museum & Art Gallery (Grade 2 listed) Hove Museum of Creativity Booth Museum of Natural History (Grade 2 listed) Preston Manor (Grade 2* listed) and garden.

The Trust also manages the William IV Gatehouse (Grade 1 listed), India Gate (Grade 1 listed), Northgate House (Grade 2 listed), all located on the RP estate, as well as 4/5 Pavilion Buildings, an off-site collections store, the Old Courthouse and Courtroom (Grade 2 listed) and the Jaipur Gate (Grade 2 listed) at Hove Museum of Creativity.

The Trust also operates in the virtual world through our website, and social media channels providing worldwide access to information about its rich and diverse collections, stories and resources.

We care for over 1million objects as part of our wide-ranging collections. These are multi-period and multisubject. They include three Designated collections (World Art, Natural History and Decorative Arts). We also hold important collections of archaeology, Egyptology, fine art, social history, toys, musical instruments, early cinematography, and crafts.

Our sites are open to the public (subject to opening hours) and our collections available for research and study. We operate a programme of public events and educational sessions (both formal and informal). We seek to research our collections and seek to make new knowledge available. We will loan objects to other museums. We will work with a series of partners and stakeholders to bring value to as many people as possible in Brighton & Hove and beyond.

Page 5

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

h. Cultural Exemption

The Trust applies admission charges to three of its five venues. The Trust treats the sale of tickets for the admission to museum, gallery or exhibitions as exempt from VAT as it qualifies for cultural exemption.

Its eligibility is based on the fact the Trust:

Is a non-profit making organisation.
Applies any profits made from admission fees under this provision to the continuance or improvement of the facilities or in connection with the making of related cultural supplies.
Is managed and administered on a voluntary basis by Trustees who have no direct or indirect financial interests in the activities of the organisation.

i. Education

The Trust supplies education in the form of Tours, Learning and Schools programmes. The Trust does not distribute any profit it makes from educational activity. All profits made from supplies of education are used for the continuance or improvement of such supplies.

Achievements and performance

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

a. Main achievements of the Company

The key achievements have been made in this period:

Delivery of our service level agreement with Brighton & Hove City Council (BHCC) and an ongoing positive and supportive partnership with the council.
Delivery of our National Portfolio Organisation (NPO) funding agreement with Arts Council England (ACE) including our separate NPO agreement to manage the museum development service for SE England.

The year saw a good return of visitors following the COVID period including the return of important foreign visitors and foreign groups. Visitors for the period April 2023 - March 2024 were over 368,000, 79,000 ( 27%) up on the previous year.

Our two major exhibitions at Brighton Museum and Art Gallery in 2023 Roger Bamber: Out of the Ordinary and Lee Miller: Dressed have been critically acclaimed and popular with locals and visitors to the city.

We marked the coronation of King Charles III with an exhibition commemorating George IVs coronation, A right Royal Spectacle at the Royal Pavilion and a children’s pennant exhibition at Hove Museum of Creativity. The Royal Pavilion also saw the return of two original early 19th century Robert Jones canvasses.

As we recover our visitor numbers and invest in our sites Hove Museum of Creativity has had two times as many visitors as in 2019. Preston Manor has seen a successful programme of school visits and a commercial partnership to deliver escape rooms.

More Brighton & Hove residents are visiting our venues than ever visited prior to COVID. Our 64,000 resident visits equate to 23% of the population of the city.

Most importantly and as a huge tribute to our front-of-house staff we continue to get overwhelmingly positive feedback from visitors - maintaining satisfaction levels at over 90% across our venues.

Our commercial operations managed via our Trading company, Royal Pavilion & Museums Trust Enterprises Ltd. are prospering with five excellent shops and in 2023 two new cafes opening at the Royal Pavilion and Hove Museum of Creativity. During the year we catered for 112 Weddings and corporate events. The team also supported in excess of 40 Fever Candle lit concerts in the Music Room of the Royal Pavilion with over 5,000 attendees. Our shops plus an online retail offer this year have delivered an annual turnover of over £650,000.

We have now completed for the first time ever detailed 3D digital mapping of the Royal Pavilion giving us exact and detailed plans that can be used both for building management but also interpretation and public access. This is part of our investment alongside BHCC in the long-term well-being of our buildings and gardens. During the year we undertook important renovation work at Brighton Museum & Art Gallery, on the King William IV Gatehouse and at 4/5 Pavilion Buildings.

As we manage our collections to maximise accessibility our team have relocated and updated approx. 1,500 objects and their records.

As a charity we are externally audited and in the autumn we received excellent feedback on how we were managing our finances and responsibilities. We have continued to make investments in our IT and financial systems and continue to develop our ticketing and payroll as we emerge as a strong stand-along charitable business.

We have played a full roll in wider regional, national and international initiatives. Our CEO has chaired the Sussex Visitor Economy Industry Group and a committee of national museum directors seeking to address the effects of climate change in museum buildings.

Page 7

Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

Much of crucial our work continues to be supported by external grants and donations secured through our fundraising activities:

In August in partnership with BHCC we submitted a major bid for over £4.3m to the National Lottery Heritage Fund for the renovation and future management of the Royal Pavilion Garden. We heard that this had been successful in January 2024, and we hope that work on the project will get underway in Summer 2024.

In partnership with Norfolk Museum Service we have been awarded funds to deliver a professional Museum Development Service for South East England for the period 2024-26 from Arts Council England (ACE). During the year we were also informed that our NPO funding agreements with ACE would be extended for one year from 2026 to 2027.

Our ground-breaking Culture Change project funded by a grant from the James Henry Green Charitable Trust now has two external oversight groups one strategic and one for developing activities. We have been developing a decolonisation project as part of this programme to launch in Preston Manor in summer 2024.

Thanks to external funding from The Fidelity Trust for a three-year project to support developing our financial resilience we now have a full income generation team in place including a Head Guide, Visitor Experience Manager, Corporate Sponsorship Manager and a Product Licensing consultancy. This has already seen us make new income through Gift Aid and audio guides, raise our charitable profile amongst local businesses and develop assets to enable us to license the spectacular Royal Pavilion interiors.

We have also had great feedback from visitors at Booth Museum of Natural History highlighting the success of an externally funded project that will see the first new diorama in the museum for a hundred years generously supported by the Esmee Fairburn Collections Fund.

During November 2023 – January 2024, we hosted a major artistic commission The Shinning Lights of service by Chila Kumari Burnam in partnership with the Imperial War Museum and with external funding from IWM 201418 Now. The commissioned remembered the use of the Royal Pavilion Estate as a hospital for soldiers from undivided India during World War One. The work was launched to coincide with both Diwali and Remembrance Day.

Successful fundraising applications to trusts and foundations in the last 12 months have amounted to £369,000 of new investment in our sites and programmes including £44k for a project to research and develop a secondary schools offer.

b. Key performance indicators

For the period under review our key performance indicators were as follows:

	Key Performance Indicators	23-24 Target	23-24 Achieved
No.	Visitors to the Royal Pavilion and Museums	363,194	366,194
%	Satisfaction levels of visitors to Royal Pavilion
	and Museums	95%	93%
No.	Children & Young People participating in formal
	learning activity on site	17,433	18,753
No.	Website sessions for the Royal Pavilion and Museums	800,000	807,310
£	Earned income	£7.5m	£7.7m
No.	Residents visiting Royal Pavilion and Museums	50,000	64,390

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

c. Summary review of activities

2.3.1 Collections & Research

The Collections Team have continued with core work such as administering loans, acquisitions and disposals, improving documentation and information held about the collections and producing digital content. The team have answered enquiries, hosted researchers and supported the public programme with information and objects for temporary exhibitions, community events and delivering talks, lectures, and guided tours.

Loans

New and continuing loans include:

Loans Out

Portraits of Dogs: From Gainsborough to Hockney, 29 March 2023 – 15 October 2023 at The Wallace Collection, London, UK.
Monarchy and the Marlborough Family - 4th March - 31st July 2023 at Blenheim Palace, UK.
Monsters and Mermaids: Unraveling Natural History’s Greatest Hoaxes - 17 August 2023 to 4 March 2024 at Bruce Museum, Greenwich, USA.
Mode at Sport, d’un podium a l'autre, 20 September 2023 to 7 April 2024, at Musée des Arts Décoratifs in Paris.
Henry Willet’s Collection of Popular Pottery - 2 November 2023 – 29 September 2024, at the Victoria & Albert Museum, UK.
Burma to Myanmar – 2 November 2023 - 3 February 2024, at British Museum, UK. (This loan was administered by B&HM, and included objects lent from both B&HM and James Henry Green Trust).
Women in Revolt! Art, Activism and the Women’s Movement in the United Kingdom 1970 – 1990 - 8 Nov 2023 – 7 April 2024, at Tate Britain, UK.

A number of existing long-term loans were reviewed and returned or extended, including loans from The Royal Collection Trust, the Trustees of Regency Townhouse, and the Trustees of Greenwich Hospital, The Museum of London, The British Museum, and private individuals.

Research

The team supports many researchers, and each curator undertakes regular research into the collections to facilitate projects. Examples include:

Research continued by Alexandra Loske, Curator (Royal Pavilion & Historic Properties), on the Royal Pavilion interior, resulting in the first draft of a book on the subject for Yale University Press.
Martin Pel, Curator (Fashion & Textiles) continued researching the influence of British artist Martin Battersby on Brighton Museum, originally supported by a grant from The Headley Fellowships with Art Fund.
Lee Ismail Curator (Natural Sciences) hosted many researchers including those mapping Sussex Bees, researching the locomotion of the dodo, chalk fossil sharks and changing hedgehog morphology, along with continued research into molluscs collected by Reverend Lowe.

Acquisitions & Disposals

A selection of disposals and transfers undertaken this year have included:

A structural beam acquired from The Old Ship Hotel and suggested to be from the Surprise which reputedly took King Charles II from Shoreham to Normandy in 1651. Transferred to Marlipins Museum, Shoreham-by-Sea.
Large metal trunk containing duplicate traced maps/plans from the Town Clerks' Office at Brighton Town Hall. c1870s-1890s. Transferred to The Regency Town House.
Various documents, plans and photographs all transferred to existing archives at East Sussex Record

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

Office.

Examples of collections acquired:

A painting by Christopher Clairmonte, A Walk around Hove. (Donation).
Panoramic scroll-print of George IV’s coronation in 1821 (print dated 1822) (Donation).
Salt glaze ale jug from the Druids Head pub, Brighton. (Donation).
Various items collected as part of the Exhibition Goal Power! Relating to the 2022 UEFA European Women's Football Championship (UEFA Women's Euro 2022) where Brighton & Hove was a host city with games played at Brighton & Hove Albion Football Club's ground, the American Express Community Stadium. (Field collection by staff).
A collection of c. 2,000 British beetles (predominantly from Sussex) (Donation).

2.3.2 Conservation

Over the past year the Conservation Team has continued their core work which includes collections care and management, remedial conservation, environmental monitoring, integrated pest management, supporting exhibition installations and providing guidance and support for income generation.

In addition, they have worked on a number of projects which include:

Implemented a volunteer project at the Booth Museum to check 1,000 drawers of entomology specimens and 1176 pieces of taxidermy.
Implemented a graduate conservator programme to be run over three years and successfully gained funding for two part-time early-career conservators.
Hosted an intern from Durham University.
Presented a series of Preventive Conservation talks and emergency planning and salvage training for Brighton University.
Reviewed the guidance for emergency planning and response for the organisation.

2.3.3 Gardens & Buildings

During 2023-2024 we have continued our programme of capital repairs and renewals with support from BHCC. The measured survey of the Royal Pavilion was undertaken and a Conservation Management Plan for this building is also in progress. Structural checks of the Royal Pavilion bamboo stairs and laylights were undertaken and Phase 4 of the annual maintenance regime for the Royal Pavilion was begun which covers repairs to the southwest elevation of the building.

Investigations into the Brighton Museum and Art Gallery historic drainage system continued with a culvert located and a programme of work being scoped. A major capital project with funding support from ACE has been developed to undertake repairs to the historic glazed roof of the main gallery in the Museum.

An external programme of works was also carried out to 4 & 5 Pavilion Buildings. Other minor maintenance repairs continued across all the sites, including lead gutter repairs, lath and plaster repairs, joinery repairs and re-rendering.

The Facilities Team has continued managing our H&S processes and our annual maintenance programmes. This year they have also upgraded the emergency lighting system in Brighton Museum which has also supported a reduction in energy usage by installing LED emergency lighting. We have started using a new waste collection provider who has a more environmentally friendly approach to recycling, as well as providing good advice and guidance on how to improve our waste management. We have also renegotiated our gutter clearance contract which has provided better value for money.

Over the last year the Garden Team has continued to maintain our three outdoor spaces, which has included trialling selected grassed areas of all our sites to grow naturally, to contribute to the city’s biodiversity and promote ‘green corridors’ in urban areas.

Page 10

Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

At the Royal Pavilion we have continued to work on our successful bid to the NLHF (in partnership with BHCC) for funding for a major restoration project of the Listed Royal Pavilion Garden, with a heavy focus placed on interpretation and community engagement to better establish a lasting project legacy.

In the Preston Manor walled garden we have refreshed the planting scheme, following Edwardian principles, and increased our volunteer numbers. We have also diversified our volunteer offer by making links with community partners such as Brighton & Hove Housing Trust, Downsview College for profound, severe & moderate learning difficulties, young people at Plumpton College (Educational, Health & Care Plan users) and Martlets’ Charity. We continue to provide tours of the garden to the public to highlight its’ heritage and discuss future possibilities. At Hove Museum we have planted over a thousand bulbs for added seasonal interest.

The Garden Apprentice scheme (in partnership Plumpton College and with generous funding from with the Finnis Scott Foundation) has been a success with our recent candidate achieving distinctions in all areas of study.

2.3.4 Audiences & Engagement

Our Museums

Venue	Visits
The Royal Pavilion	234,827
Brighton Museum & Art Gallery	72,855
Hove Museum & Art Gallery	28,008
Booth Museum of Natural History	23,121
Preston Manor	7,383

2.3.5 Exhibitions and displays

Throughout the year our programming, curatorial, conservation and other teams combined to deliver a full programme of exhibitions and displays across our sites. These drew on our own rich collections as well as loans. A summary of our exhibitions and displays for this period:

Brighton Museum & Art Gallery

See the Sea 22nd July 2023 - Summer 2025.
Ink on Silk to 01/11/2023.
Queer The Pier extended to 2026.
Down From London: Spencer Gore & Friends to 09/07/2023.
One Minute Wonders (Label-less Exhibition) to 18/06/2023.
Roger Bamber – Out of the Ordinary 01/01/2023 - 03/09/2023.
World Above the Waves: Brighton's Chain Pier 20/06/2023 - 14/01/2024.
Lee Miller: Dressed 14/10/2023 - 03/09/2024.
Lifting Us Up - stories of female Windrush community organisers, activists and creatives 10/2023 - 06/2024.
Burne-Jones: The Flower Book 16/01/2024 – 05/05/2024.
ABBA: One Week in Brighton 28/03/2024 – 04/08/2024.

Royal Pavilion

Christmas at the Royal Pavilion 18/11/2023 - 02/01/2024.
Chila Kumari Singh Burman Shining Lights of Service 10/11/2023 - 28/01/2024.
A Right Royal Spectacle (The coronation of George IV) 11 March 2023 – 10 September 2023. Booth Museum of Natural History
A (Decolonised) Teddy Bears Picnic June to September 2023.

Page 11

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

Our special visiting mice for Christmas 02/12/2023 – 07/01/2024.
Winter at the Booth – installation of taxidermy animals in winter coats 02/12/2023 – 07/01/2024.
Sussex Wildlife Trust photographs 2/12/2023- 12/2024.
Life in a Garden , the first diorama to be created for the Booth Museum of Natural History in 92 years opened 27/01/2024.

Hove Museum of Creativity

A Place called Home (Children’s gallery) to 12/11/2023.
Matt Smith Who Owns History to 16/04/2023.
Godai: Japanese Woodcuts 06/05/2023 - 08/10/2023.
Children's Coronation Pennants 04/05/2023 - 04/06/2023.
Outside In National Open 2023 Humanity 25/11/2023 - 21/01/2024.
Moo: When the Cows come Home 10/02/2024 - 21/04/2024.
Welcome Gallery/What's in the Box 10/02/2024 – 11/2024.

2.3.6 Events and Education

Primary schools bookings have performed well this year, holding up well despite the cost of living crisis which is reducing schools opportunities for trips out. We are retaining our market share by evaluating and updating our offer to meet the changing requirements of schools. Our sessions: Ancient Egypt, Servant for the Day and Stone Age are class favourites, and we are planning a new session around Anglo Saxons following teacher requests. We have built a strong mutually supportive relationship with the BHCC Schools Anti Racism group, which covers all ages of schools education in the city. The teachers and students are playing a significant role in our decolonising Culture Change programme. A small grant from Fonthill Trust has enabled a review to improve SEND content across our primary school offer, working with our SEND teacher ambassadors to deliver this.

We appointed a Secondary Schools and Colleges Coordinator in February 2024, funded by an Art Fund Reimagine grant, to research and develop the secondary education market, which we haven’t previously had a targeted offer for. Concentration is on the art and history curriculums, a strong start has been made. We worked with a group of A-Level History students from the Guru Nanak Sikh Academy London on a live brief project focussing on the depiction of the Indian Hospital.

Our partnership with University of Sussex Liberal Arts degree has seen three cohorts of students undertaking work inspired by our museums, this year including a final year project placement. We also ran a sold out talk on decolonising the garden as part of the Festival of Ideas and Brighton Festival with them. We support a bursary for an MA in Museum and Heritage at the University of Brighton and staff teach on the course.

We ran a wide range of public events, from What is Taxidermy sessions at the Booth Museum, a family day and talks for Black History Month, and Brent Kerehona, a leading Maori academic spoke about Hongi’s Hikoi. Our exhibitions programme was accompanied by a range of events. We showcased Digital Storytelling at Preston Manor, and released the Tell me about the Chamber Pots podcast series about a year of innovation in digital storytelling in our museums. We celebrated Earth Day at the Booth, experimenting with additional SEND support for 7-11 year-olds and an Instagram takeover by the Museum Collective (14-25yr olds). We built on the feedback on this for International Women’s Day in March, focusing on women in STEM and offering specific quiet hours to support neurodiverse visitors to access the opportunities. Christmas at the Royal Pavilion featured themed decorated trees and a mouse trail (for children of all ages. Christmas at the Booth Museum of Natural History showcased winter animals on the way to the North Pole, looking at the issues around migratory species and climate change in a creative way.

2.3.7 Communities, Partnerships and Engagement

The Discover our Dioramas project at the Booth Museum (funded by the Esme Fairburn Foundation and Museums Association) reached its culmination in January 2024 with the unveiling of the first new diorama at the Booth in 92 years, created by taxidermist Jazmine Miles-Long. It is based on the concept of a bird feeder found in a Brighton garden, showing birds, wildlife and insects, following the recommendations from our significant

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Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

public consultation with under 10s and their families.

Decolonising The Culture Change project has developed staff working groups, a new webpage and statements on Anti Racism. Preston Manor was identified as the site to develop our main “decolonising” project Shadows of Empire to open in May 2024. We have hosted meetings of the Heritage Network (Black history) and restarted inperson meetings with the Access Advisory Group. The Heads of Culture Change are writing and expanding to “The Book” an ever-evolving internal refence guide that identifies and answers questions about decolonising and anti-racist work.

The Shining Lights of Service shone on the Royal Pavilion façade through the darkest days of winter. Developed in partnership with the Imperial War Museum, artist Chila Kumari Singh Burman created an installation referencing the story of the Indian soldiers housed in the Royal Pavilion 1914-15 when it was used as a war hospital. It opened for Remembrance Sunday and Diwali, weekend of 11 November 2023.

We have worked with Writing around the Kids, (for mothers with young children) supporting their creative writing. We are partners with Days of Wonder, a collaboration of Videoclub and Corridor who have raised three years of funding for work on early film in Brighton, showcasing our collections at Hove. A number of takeover events and an installation for Brighton Festival have been the result of the first year of partnership working. We are a partner in Queer Heritage South Live Archive NLHF funded 3 year project to develop and improve the presentation and collecting of LGBTQIA+ history in Brighton & Hove.

We hosted the BHCC Dementia Tool Kit launch at Hove Museum and are working to make our sites more user friendly for people with dementia.

Lifting Us Up showcased the histories of female Windrush community organisers, activists and creatives in a display in BMAG, created in partnership with POC archivist Pauline Rutter.

We instituted a review of our safeguarding policies and procedures and training will roll out in the next financial year across the organisation.

2.3.8 Income Generation

Two new Fidelity Trust funded posts have supported our visitor experience team over the last year. The new Visitor Experience Manager has maintained high customer service levels across all venues and improved the take up of gift aid increasing revenue in this area by 250%. Our new Head Guide has supported the development of new tours, recruitment of a new team and the introduction of audio guides at the Royal Pavilion offering visitors new interpretation in 11 languages plus a BSL/subtitled tour.

The fundraising team has grown to include a new Corporate Sponsorship Manager who has secured a partnership with High Weald wines and working with the local business networks to raise awareness of the work of Brighton & Hove Museums and its charitable status. Over £369,000 has been raised through small grants most notable of which include the Fidelity Trust, the Headley Trust and the Art Fund whilst several Patrons and individual donors have supported conservation, learning and gardens projects throughout the year.

Across our 5 retail outlets many new ranges have been introduced including lines to support our popular family trails at the Royal Pavilion including George the Pavilion Cat, the Coronation Chicken and our Christmas mice. Working with two specialist product licensing consultants we have also developed high resolution assets of all the fabulous Chinoiserie interiors in the Royal Pavilion which are now being shared with potential retailers to develop a new licensing strand of income. Two new cafes opened in our venues, Sugar Dough at the Royal Pavilion and Bite at the Museum at Hove Museum, both have proved popular with visitors and boosted footfall. Retail and events team have had an exceptional busy year supporting weddings, corporate events and a variety of venue hires including Fever Concerts, escape rooms and the Royal Pavilion ice rink

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

2.3.9 Marketing, Communications & Digital

The team have continued to roll out the Brighton & Hove Museum branding, developed in 2023 with local design agency Baxter & Bailey. The organisation has continued to enjoy high profile press and media coverage and the hire of our premises for television and filming offering free marketing air-time. We had particularly positive presscoverage linked to the Coronation Exhibition at the Royal Pavilion and the opening of Lee Miller: Dressed. The Royal Pavilion featured in a Brighton-focused episode of Antiques Road Trip,in the ITV series Grace and in the Netflix series The Sandman as well as a number of travel shows and historical features.

The website continued to evolve with in excess of 800,000 sessions whilst our social media channels continued to grow in popularity and the number of subscribers to our fortnightly e-newsletter exceeded 9,000.

The digital team continued to support an extension of a digital volunteering project funded through NLHF’s Digital Skills for Heritage initiative. Working with volunteers to produce more inclusive digital storytelling in onsite interpretation. Lee Miller: Dressed became our first truly digital exhibition with all exhibition content as well as behind the scenes videos, interviews with curators and conservators all launching at the same time as the exhibition opened.

2.3.10 Business Services

As a relatively new organisation we are continuing to grow and professionalise our business systems that are critical to supporting our work. The Finance team have produced effective management accounts throughout the year that are reviewed monthly by our executive board and quarterly by our Finance and general Purposes Committee and main board. These efforts have supported the £1.2M improvement in the Trust’s financial performance over the last 12 months. A new HR system has been implemented providing a central repository for staff documentation and also supporting staff rotas and training records. The launch of a new staff intranet has improved internal communication and information sharing , whilst on-going monitoring of IT contracts, GDPR compliance and cybersecurity accreditation has been the focus of our Head of IT.

2.4 Our People

2.4.1 Staff

Our greatest asset is our staff. During 2023-24 RPMT employed c. 112 FTE staff. The staff teams include visitor service staff, curators, conservators, technicians, historic building management, security, learning and community engagement, creative programming, marketing, retail, events and function management, development and fundraising, digital and ICT, finance and HR.

2.4.2 Key Staff Changes

During the year we welcomed Kate Turnbull as Head of Marketing Digital & Communications, Kate Rooks as Corporate Sponsorship Manager and Shaun Doyle a longstanding member of the Visitor Services team became Visitor Experience Manager.

Key leavers included Richard Le Saux Head Curator, Charlotte Desjarlais Business Development Manager and Rachel Hemmingway-Hurst Curator of World Art.

d. Factors relevant to achieve objectives

Organisational changes that were instigated in 2022-23 continued into 2023-24. These were aimed at increasing income while making necessary savings with an overall aim of breaking-even for the 2023-24 financial year. Through the year visitor and income trends continued to improve. Severe weather episodes having a detrimental effect on our buildings and gardens and occasionally effecting visitor patterns continue to be a concern.

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Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

e. Fundraising activities and income generation

As noted elsewhere the year saw BHCC agreeing our annual plan and the confirmation of new funding from ACE. With a new fundraising team in place we begun to see returns from trusts and foundations, and additional patrons and members. Most notable was a major grant from Fidelity International to support our commercial team for the next three years. During the year we introduced new training for our front-of-house staff to improve gift aid support and more general retail spend. All these initiatives were beginning to pay dividends by the end of the period.

Financial review

a. Going concern

After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future.

For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies.

b. Reserves policy

The aim of Trustees in the long term to build unrestricted reserves to a level of 25% of planned expenditure over the following 12 months, however due to the ongoing impact of the pandemic this has not been achievable for 2023-24. For 2023-24 cost savings made in 2022-23 and the arrival of new income generating posts and strategies are aimed at delivering a much improved financial picture.

The level of free reserves at the end of 2023-24 were £nil (2023: £nil)

c. Deficit

The net movement in funds for the year was a deficit of £105,324 (2023: £1,302,192 deficit).

Net liabilities at the year ended 31 March 2024 were -£394,006 (2023: -£288,682).

At the year-end, unrestricted funds totalled a deficit of £1,159,475 (2023: £929,229 deficit), of this £240,368 was designated (2023: £299,767) and there were deficit undesignated funds of £1,399,843 (2023: £1,228,996 deficit). Restricted funds totalled £596,094 (2023: £471,172) and the permanent endowment fund totalled £169,375 (2023: £169,375).

d. Principal risks and uncertainties

The Trust maintains a strategic Risk Register which is reviewed by the Executive Board monthly and Finance and General Purposes Committee quarterly. In the opinion of the Executive Board There were no identifiable risks that need to be reported.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

e. Financial risk management objectives and policies

The Executive Board has taken steps to ensure that financial risk is minimised by introducing robust internal controls and sound financial systems which are regularly reviewed.

B&HM is supported by a £4million loan facility from Brighton & Hove City council as part of its transfer agreement. The facility is available until 2025 and then repayable over a ten-year period. At the balance sheet date £2m had been drawn down (see note 17) and post year-end a further £1m has been drawn (see note 26).

f. Principal funding

We are incredibly grateful to our principal regular funding from Brighton & Hove City Council and as a National Portfolio Organisation of Arts Council England. We would not be able to deliver on our charitable aims without their support.

Other main funding comes from ticket sales, commercial operations, and fundraising.

In 2023-24 we are also extremely grateful for additional project and programme funding from The James Henry Green Charitable Trust, the National Lottery Heritage Fund, the Fidelity UK Foundation, the Headley Trust and the Art Fund.

Structure, governance and management

a. Constitution

Royal Pavilion and Museums Trust is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association.

b. Methods of appointment or election of Trustees

The management of the Group and the Company is the responsibility of the Trustees who are elected and coopted under the terms of the Memorandum of Association. The charity is managed by a Board of Trustee. Trustees are appointed for a term of three years with terms renewable leading to a maximum period of nine years. The exception are three BHCC nominated trustees who are re-appointed annually by BHCC.

New trustees are recruited when considered necessary, either to replace a trustee who has retired or stood down, or to bring in additional skills and experience where a need has been identified. Recruitment of Trustees is the responsibility of the Nominations and Remuneration Committee a permanent sub-committee of the Board. Skills audits of the Board are undertaken on a regular basis to inform future recruitment. Recruitment is through an open competitive process. Potential trustees meet with the Chair of the Board of Trustees, prior to being appointed by resolution at a meeting of the trustees.

The Trustees are committed to diversification of the Board and in March 2021 appointed two Young Shadow Trustees from diverse backgrounds to be mentored by Board members and give fresh insights to the work of the Trust. A new cohort of young Shadow trustees were recruited in 2023.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Structure, governance and management (continued)

c. Organisational structure and decision-making policies

The Trustee Board meets quarterly, usually in January, April, July, October. The Finance and General purposes Committee (FGP), Enterprise Board and Nominations and Remunerations Committee also meet quarterly and report to the main board.

The FGP has delegated responsibility on behalf of the Board of Trustees for ensuring that there is a framework for reviewing financial strategy, accountability, and financial controls for BHM. The FGP consists of no fewer than three Trustees appointed by the Board of Trustees and is attended by the CEO, COO, other colleagues with appropriate financial skills and expertise and an external consultant who advised us on the move from Council to Trust.

The Nominations and Remuneration Committee has been established as a permanent sub-committee of the Board of Trustees. It is chaired by the Deputy Chair with two other trustees, and its remit, on behalf of the Board, is to be responsible for:

Recruiting the Chair and Deputy Chair of the Board of Trustees.
Recruiting trustees for the Board and sub committees of the Board.
Recruiting the CEO.
Salary for the CEO.
Reviewing the performance of the Chair and Deputy Chair and CEO.
Reviewing executive board salaries and capacity.

The Enterprise Board is made up of the directors of the Enterprise Company (see 4.6 below) and oversees the management of the company and advises on commercial activity.

During the year a new sub-committee, The ACE Oversight Board was created to monitor delivery of the Arts Council England strategic priorities and report to the main board. It is chaired by a trustee with three other trustee members, one senior member of staff and one external specialist.

The trustees have delegated day-to-day decision making with key operational matters to the CEO and the Executive Board.

d. Policies adopted for the induction and training of Trustees

Trustees of the charity have been selected to ensure the appropriate mix of skills, knowledge and experience exists to make sure the charity is well governed and is run effectively and efficiently. Trustees are briefed on their legal obligations under charity and company law, the Charity Commission on public benefit, content of the Memorandum and Articles of Association, the committee and decision-making process, their responsibility to declare interests, the business plan and financial performance. Trustees are made aware of the indemnity provision and insurance in place for them as directors. Training for trustees is organised on a needs basis.

e. Pay policy for key management personnel

Senior staff are covered by annual pay negotiations. CEO salary is set by Trustees.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Structure, governance and management (continued)

f. Related party relationships

RPMT Enterprises Ltd is a private company limited by share capital. The Company was incorporated on 10 February 2020 under the Company Number 12451429.

The Royal Pavilion & Museums Foundation, the fundraising charity associated with the BHM is governed by a trust deed established in 1972 as amended by the Charity Commissioner’s schemes on 22 July 1991, 26 November 1998 and 31 December 2010. The charity formally changed its name from Friends of the Royal Pavilion, Art Gallery and Museums, Brighton to The Royal Pavilion and Museums Foundation. This change was approved by the Charity Commission in July 2010. The Royal Pavilion & Museums Foundation was incorporated into the new Royal Pavilion & Museums Trust on 1 October 2020.

Plans for future periods

We are working in 2024-25 to further establish our own long-term sustainability while making a major contribution to Brighton & Hove City Council’s strategic objectives and delivering to Arts Council England’s new ten-year strategy “Lets Create”. After three difficult and challenging years we are confident that the changes put in place at the end of 2022-23 (cost savings, new revenue generating initiatives, new ticketing, change in opening hours) will contribute to a business plan that will see us achieve financial stability and be able to plan more confidently for the future. It is recognised that there is still much uncertainty and unpredictability across society and the economy so it is recognised there is no room for complacency and careful and close management of all resources will be essential.

Within this context it is a huge relief to have secured ACE funding until Spring 2027 and already be seeing positive results from our other changes while knowing that we still have the ability to draw down further loan amounts from BHCC if needed.

Statement of Trustees' responsibilities

The Trustees (who are also the directors of the Company for the purposes of company law) are responsible for preparing the Trustees' report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).

Company law requires the Trustees to prepare financial statements for each financial . Under company law, the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure, 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 of the Charities SORP (FRS 102);
make judgments and accounting estimates that are reasonable and prudent;
state whether applicable UK Accounting Standards (FRS 102) have been followed, subject to any material departures disclosed and explained in the financial statements;
prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Group will continue in business.

The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Group and the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

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Royal Pavilion and Museums Trust (A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Disclosure of information to auditors

Each of the persons who are Trustees at the time when this Trustees' report is approved has confirmed that:

so far as that Trustee is aware, there is no relevant audit information of which the charitable group's auditors are unaware, and
that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information.

Auditors

The auditors, Kreston Reeves LLP, have indicated their willingness to continue in office. The designated Trustees will propose a motion reappointing the auditors at a meeting of the Trustees.

Approved by order of the members of the board of Trustees and signed on their behalf by:

................................................ ................................................ Michael Bedingfield Angela Smith (Chair of Trustees) Trustee Date: 23 October 2024

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Royal Pavilion and Museums Trust

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of Royal Pavilion and Museums Trust (continued)

Opinion

We have audited the financial statements of Royal Pavilion and Museums Trust (the 'parent charitable company') and its subsidiaries (the 'group') for the period ended 31 March 2024 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charity Balance Sheet, the Consolidated Statement of Cash Flows and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

give a true and fair view of the state of the Group's and of the parent charitable company's affairs as at 31 March 2024 and of the Group's incoming resources and application of resources, including its income and expenditure for the period then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Charities Act 2011.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the Group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Group's or the parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Annual Report other than the financial statements and our Auditor's Report thereon. The Trustees are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider

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Royal Pavilion and Museums Trust

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of Royal Pavilion and Museums Trust (continued)

whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion:

the information given in the Trustees' Report is inconsistent in any material respect with the financial statements; or
the parent charitable company has not kept sufficient accounting records; or
the parent charitable company financial statements are not in agreement with the accounting records and returns; or
we have not received all the information and explanations we require for our audit.

Responsibilities of trustees

As explained more fully in the Trustees' Responsibilities Statement, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the Trustees are responsible for assessing the Group's and the parent charitable company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Trustees either intend to liquidate the Group or the parent charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

We have been appointed as auditor under section 151 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect thereunder.

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

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Royal Pavilion and Museums Trust

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of Royal Pavilion and Museums Trust (continued)

Capability of the audit in detecting irregularities, including fraud

The objectives of our audit are to identify and assess the risks of material misstatement of the financial statements due to fraud or error; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud or error; and to respond appropriately to those risks.

Based on our understanding of the charity and the sector as a whole, and through discussion with the Trustees and other management (as required by auditing standards), we identified that the principal risks of non-compliance with laws and regulations related to health and safety, anti-bribery and employment law. We considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Charities SORP (FRS 102) Second Edition (released October 2019), the Companies Act 2006 and other relevant charity legislation. We communicated identified laws and regulations throughout our team and remained alert to any indications of non-compliance throughout the audit. We evaluated Trustees' and management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls) and determined that the principal risks related to posting inappropriate journal entries to increase income or reduce expenditure, management bias in accounting estimates and judgemental areas of the financial statements such as the allocation of funds. Audit procedures performed by the engagement team included:

Discussions with management and assessment of known or suspected instances of noncompliance with laws and regulations (including health and safety) and fraud, and review of the reports made by management; and
Assessment of identified fraud risk factors; and
Identifying and assessing the design effectiveness of controls that management has in place to prevent and detect fraud; and
Performing analytical procedures to identify any unusual or unexpected relationships, including related party transactions, that may indicate risks of material misstatement due to fraud; and
Confirmation of related parties with management, and review of transactions throughout the period to identify any previously undisclosed transactions with related parties outside the normal course of business; and
Reading minutes of meetings of those charged with governance; and
Review of significant and unusual transactions and evaluation of the underlying financial rationale supporting the transactions; and
Identifying and testing journal entries, in particular any manual entries made at the year end for financial statement preparation.

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance.

As part of an audit in accordance with ISAs (UK), we exercise professional judgement and maintain professional scepticism throughout the audit. We also:

Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion of the

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Royal Pavilion and Museums Trust

(A Company Limited by Guarantee)

Independent Auditor's Report to the Members of Royal Pavilion and Museums Trust (continued)

effectiveness of the charitable company's internal control.

Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the Trustees.
Conclude on the appropriateness of the Trustees' use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in my Auditor's Report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of my Auditor's Report. However, future events or conditions may cause the charitable company to cease to continue as a going concern.
Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of the Group audit. We remain solely responsible for our audit opinion.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

Use of our report

This report is made solely to the charitable company's trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. Our audit work has been undertaken so that we might state to the charitable company's trustees those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and its members, as a body, for our audit work, for this report, or for the opinions we have formed.

Kreston Reeves LLP Chartered Accountants Statutory Auditor

Chichester

Date: 6 November 2024

Kreston Reeves LLP are eligible to act as auditors in terms of section 1212 of the Companies Act 2006.

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Royal Pavilion and Museums Trust

(A company limited by guarantee)

Consolidated Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2024

Note Income and endowments from: Donations and legacies 3 Charitable activities 4 Other trading activities 5 Other income 6 Total income and endowments Expenditure on: Raising funds 7 Charitable activities 8 Total expenditure Net movement in funds Reconciliation of funds: Total funds brought forward Net movement in funds Total funds carried forward	Unrestricted funds 2024 £ 3,094,215 3,442,720 1,200,795 117,169 7,854,899 869,513 7,215,632 8,085,145 (230,246) (929,229) (230,246) (1,159,475)	Restricted funds 2024 £ 1,306,935 - - - 1,306,935 - 1,182,013 1,182,013 124,922 471,172 124,922 596,094	Endowment funds 2024 £ - - - - - - - - - 169,375 - 169,375	Total funds 2024 £ 4,401,150 3,442,720 1,200,795 117,169 9,161,834 869,513 8,397,645 9,267,158 (105,324) (288,682) (105,324) (394,006)	Total funds 2023 £ 3,536,503 2,938,635 944,282 59,421 7,478,841 522,138 8,258,895 8,781,033 (1,302,192) 1,013,510 (1,302,192) (288,682)

The Consolidated statement of financial activities includes all gains and losses recognised in the year.

The notes on pages 30 to 53 form part of these financial statements.

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Royal Pavilion and Museums Trust

(A company limited by guarantee) Registered number: 11774969

Consolidated balance sheet As at 31 March 2024

Note Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Total net liabilities Charity funds Endowment funds 18 Restricted funds 18 Unrestricted funds 18 Total funds	216,829 1,079,584 1,264,576 2,560,989 (954,995)	2024 £ 1,605,994 1,605,994 (2,000,000) (394,006) 169,375 596,094 (1,159,475) (394,006)	224,400 807,330 1,566,665 2,598,395 (887,077)	2023 £ 1,711,318 1,711,318 (2,000,000) (288,682) 169,375 471,172 (929,229) (288,682)

Page 25

Royal Pavilion and Museums Trust

(A company limited by guarantee) Registered number: 11774969

Consolidated balance sheet (continued) As at 31 March 2024

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

_____ _______ Michael Bedingfield DL Dr Angela Smith (Chair of Trustees) (Trustee) Date: 23 October 2024

The notes on pages 30 to 53 form part of these financial statements.

Page 26

Royal Pavilion and Museums Trust

(A company limited by guarantee) Registered number: 11774969

Company balance sheet As at 31 March 2024

Note Fixed assets Investments 13 Current assets Stocks 14 Debtors 15 Cash at bank and in hand Creditors: amounts falling due within one year 16 Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year 17 Total net liabilities Charity funds Restricted funds 18 Unrestricted funds 18 Total funds	61,910 1,015,641 703,626 1,781,177 (848,891)	2024 £ 1 1 932,286 932,287 (2,000,000) (1,067,713) 596,094 (1,663,807) (1,067,713)	121,089 780,241 1,256,633 2,157,963 (885,510)	2023 £ 1 1 1,272,453 1,272,454 (2,000,000) (727,546) 460,815 (1,188,361) (727,546)

Page 27

Royal Pavilion and Museums Trust

(A company limited by guarantee) Registered number: 11774969

Company balance sheet (continued) As at 31 March 2024

The Company's net decrease in funds for the year was £345,671 (2023 - £1,157,375).

The Company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The members have not required the entity to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

However, an audit is required in accordance with section 151 of the Charities Act 2011.

The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime.

The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by:

----- Start of picture text -----
................................................ ................................................
Michael Bedingfield DL Dr Angela Smith
(Chair of Trustees) (Trustee)
Date: 23 October 2024
----- End of picture text -----

The notes on pages 30 to 53 form part of these financial statements.

Page 28

Royal Pavilion and Museums Trust (A company limited by guarantee)

Consolidated statement of cash flows For the year ended 31 March 2024 Note Cash flows from operating activities Net cash used in operating activities 20 Cash flows from investing activities Net cash provided by investing activities Cash flows from financing activities Net cash provided by financing activities Change in cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year Cash and cash equivalents at the end of the year 21 The notes on pages 30 to 53 form part of these financial statements.	2024 £ (302,089) - - (302,089) 1,566,665 1,264,576	2023 £ (1,731,535) - - (1,731,535) 3,298,200 1,566,665

Page 29

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

1. General information

The charity is a private company limited by guarantee incorporated in England and Wales. The members of the company are the trustees named on page 1. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity.

The registered office and principal place of business of the charity is:

4-5 Pavilion Buildings Brighton BN1 1EE

The financial statements have been prepared in £ sterling, its presentational and functional currency, and amounts have been rounded to the nearest £1.

2. Accounting policies

2.1 Basis of preparation of financial statements

The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006.

Royal Pavilion and Museums Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy.

The Consolidated statement of financial activities (SOFA) and Consolidated balance sheet consolidate the financial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on a line by line basis.

The subsidiaries included in the consolidation are Royal Pavilion and Museums Foundation (RPMF), a subsidiary by virtue of the Charity being the Corporate Trustee of RPMF; and RPMT Enterprises Ltd a subsidiary by virtue of share capital owned.

The Company has taken advantage of the exemption allowed under section 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements.

2.2 Going concern

The financial statements have been prepared on a going concern basis as the Trustees believe that no material uncertainties exist. The Trustees have considered the level of funds held for 12 months from authorising these financial statements. Financial models have been produced to forecast the financial position of the Trust.

The Trust is in a net liability position but after reviewing the financial models in place and the finance facilities and headroom available, the trustees conclude that there is no change to the assumption that the Trust can operate as a going concern.

Page 30

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.3 Income

All income is recognised once the Company has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably.

Grants are included in the Consolidated statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service.

2.4 Expenditure

Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset’s use.

Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for its charitable purposes and includes costs of all fundraising activities events and non-charitable trading.

Expenditure on charitable activities is incurred on directly undertaking the activities which further the Group's objectives, as well as any associated support costs.

All expenditure is inclusive of irrecoverable VAT.

2.5 Government grants

Government grants relating to tangible fixed assets are treated as deferred income and released to the Consolidated statement of financial activities over the expected useful lives of the assets concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred.

2.6 Investments

Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at fair value at the Balance sheet date, unless the value cannot be measured reliably in which case it is measured at cost less impairment. Investment gains and losses, whether realised or unrealised, are combined and presented as ‘Gains/(Losses) on investments’ in the Consolidated statement of financial activities.

Investments in subsidiaries are valued at cost less provision for impairment.

Page 31

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.7 Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

2.8 Debtors

Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due.

2.9 Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

2.10 Liabilities and provisions

Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably.

Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide.

Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Consolidated statement of financial activities as a finance cost.

2.11 Financial instruments

The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method.

2.12 Pensions

The group's employees are members of the local authority's defined benefit pension scheme. The scheme is a multi employer scheme of which Royal Pavilion and Museums Trust is a 'pass through' member. As such, the burden of any future funding deficit is borne by the local authority, and is not therefore the responsibility of the group. Therefore, as required by FRS102, the group accounts for this scheme as if it was a defined contribution scheme. The amount charged to the Statement of financial activities incorporating income and expenditure account represents contributions payable to the scheme in respect of the accounting period.

Page 32

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

2. Accounting policies (continued)

2.13 Fund accounting

General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes.

Designated 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.

Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising 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 financial statements.

2.14 Redundancy and termination benefits

It is the charity's policy to recognise termination benefits when they become committed, by legislation, by contractual obligation based on business practice, custom or a desire to act equitably, to make payments (or provide other benefits) to employees when it terminates their employment. Termination payments do not provide the charity with future economic benefits therefore it is their policy to recognise them as an expense in the Statement of Financial Activities immediately.

Page 33

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

3. Income from donations and legacies

Unrestricted funds 2024 £ Grants and donations 3,094,215 Total 2023 2,724,738	Restricted funds 2024 £ 1,306,935 811,765	Total funds 2024 £ 4,401,150 3,536,503	Total funds 2023 £ 3,536,503

4. Income from charitable activities

Unrestricted funds 2024 £ Maintenance & advancement 3,442,720 Total 2023 2,938,635	Total funds 2024 £ 3,442,720 2,938,635	Total funds 2023 £ 2,938,635

Page 34

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

5. Income from other trading activities

Income from non charitable trading activities

Sales in the trading subsidiary Other income Total 2023 Other incoming resources Other activities Total 2023	Unrestricted funds 2024 £ 1,163,713 37,082 1,200,795 944,282 Unrestricted funds 2024 £ 117,169 59,421	Total funds 2024 £ 1,163,713 37,082 1,200,795 944,282 Total funds 2024 £ 117,169 59,421	Total funds 2023 £ 893,597 50,685
			944,282
			Total funds 2023 £ 59,421

6. Other incoming resources

Page 35

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

7. Expenditure on raising funds

Costs of raising voluntary income

Unrestricted funds 2024 £ Fundraising costs 15,257 Costs of raising voluntary income - wages and salaries 109,503 Costs of raising voluntary income - NI 11,406 Costs of raising voluntary income - pension costs 19,570 155,736 Total 2023 130,593	Total funds 2024 £ 15,257 109,503 11,406 19,570 155,736 130,593	Total funds 2023 £ 15,599 89,885 9,254 15,855
		130,593

Other trading expenses

Unrestricted funds 2024 £ Cost of sales 314,430 Administration expenses 140,622 Cost of sales staff costs 258,725 713,777 Total 2023 391,545	Total funds 2024 £ 314,430 140,622 258,725 713,777 391,545	Total funds 2023 £ 320,381 71,164 -
		391,545

Page 36

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

8. Analysis of expenditure on charitable activities

Summary by fund type

Unrestricted funds 2024 £ Maintenance & advancement 7,215,632 Total 2023 7,403,912	Restricted funds 2024 £ 1,182,013 854,983	Total 2024 £ 8,397,645 8,258,895	Total 2023 £ 8,258,895

9. Analysis of expenditure by activities

Maintenance & advancement Total 2023	Activities undertaken directly 2024 £ 7,931,854 7,858,785	Support costs 2024 £ 465,791 400,110	Total funds 2024 £ 8,397,645 8,258,895	Total funds 2023 £ 8,258,895

Page 37

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

9. Analysis of expenditure by activities (continued)

Analysis of direct costs

Maintenance & advancement 2024 £ Staff costs 5,511,729 Materials, collections and conservation 225,076 Computer costs 247,955 Payments to other bodies 287,151 Rent, rates and utilities 680,046 Establishment costs 42,045 Security costs 577,971 Cleaning 115,254 Repairs and maintenance 65,363 Advertising 140,761 Postage and stationery 2,170 Sundry expenses 36,333 7,931,854 Total 2023 7,858,785	Total funds 2024 £ 5,511,729 225,076 247,955 287,151 680,046 42,045 577,971 115,254 65,363 140,761 2,170 36,333 7,931,854 7,858,785	Total funds 2023 £ 5,830,356 242,824 240,909 384,618 632,197 38,865 243,703 72,145 12,390 120,001 2,414 38,363
		7,858,785

Page 38

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

9. Analysis of expenditure by activities (continued)

Analysis of support costs

Telephone costs Audit and accountancy fees Insurance Legal and professional costs Consultancy costs Travel and subsistence Subscriptions Bank charges Postage and stationery Sundry expenses Total 2023	Maintenance & advancement 2024 Total funds 2024 Total funds 2023 £ £ £ 44,963 44,963 85,159 22,244 22,244 22,376 65,946 65,946 58,890 170,366 170,366 106,707 121,424 121,424 83,563 14,570 14,570 12,693 11,940 11,940 18,537 4,812 4,812 3,338 2,740 2,740 2,294 6,786 6,786 6,553 465,791 465,791 400,110 400,110 400,110

10. Auditors' remuneration

The auditors' remuneration amounts to an auditor fee of £19,725 ( 2023 - £18,800 ) , and preparation of financial statements of £6,250 (2023 - £5,960).

11. Staff costs

Wages and salaries Social security costs Contribution to defined contribution pension schemes	Group 2024 £ 4,763,842 411,170 735,921 5,910,933	Group 2023 £ 4,757,080 421,429 766,841 5,945,350	Company 2024 £ 4,559,576 391,624 701,008 5,652,208	Company 2023 £ 4,757,080 421,429 766,841
				5,945,350

During the year expenditure of £67,732 was recognised in relation to voluntary redundancies agreed in the period (2023: £104,970), this is included in wages and salaries above.

£nil of this is an accrued liability at the balance sheet date (2023: £52,996).

Page 39

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

11. Staff costs (continued)

The average number of persons employed by the Company during the year was as follows:

	Group	Group	Company	Company
	2024	2023	2024	2023
	No.	No.	No.	No.
Employees	209	234	198	212

The number of employees whose employee benefits (excluding employer pension costs) exceeded £60,000 was:

		Group	Group
		2024	2023
		No.	No.
In the band £60,001	- £70,000	1	1
In the band £90,001	- £100,000	1	1

In 2024, Royal Pavilion and Museums Trust consider their key management personnel to be:

H Swain, Chief Executive; C Tapping, Head of Collections & Conservation; A Thomas, Director of Enterprise and Visitor Experience and C Evans, Head of Engagement.

The four key management personnel received total aggregate remuneration of £363,260 (2023: £349,656), made up of salaries of £279,849 (2023: £268,258), employers national insurance £33,598 (2023: £33,647) and employers pension contributions of £49,813 (2023: £47,750).

12. Trustees' remuneration and expenses

During the year, no Trustees received any remuneration or other benefits (2023 - £NIL).

During the year ended 31 March 2024, no Trustee expenses have been incurred (2023 - £NIL).

Page 40

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024 13. Fixed asset investments Company Cost or valuation At 1 April 2023 At 31 March 2024 Net book value At 31 March 2024 At 31 March 2023	Investments in subsidiary companies £ 1
	1
	1
	1

Page 41

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

13. Fixed asset investments (continued)

Principal subsidiaries

The following were subsidiary undertakings of the Company:

Names	Company	Charity	Registered office or principal	Principal activity		Class of	Holding	Included in	Included in
	number	registration	place of business			shares		consolidation
		number
RPMT Enterprises Ltd	12451429		4-5 Pavilion Buildings	The principal activity		Ordinary	100%	Yes
			Brighton	is that of operation
			BN1 1EE	of the cafes and
				shops in the
				historical buildings
				run by Royal
				Pavilion and
				Museums Trust.
The Royal Pavilion and		275242	4-5 Pavilion Buildings	The principal activity		N/A	-%	Yes
Museums Foundation			Brighton	is the advancement
			BN1 1EE	of arts, culture and
				heritage through
				acquisition of
				suitable objects and
				works of art.
The financial results of the subsidiaries for		the year were:
Names				Income	Expenditure		Profit/(Loss)		Net assets
				£		£	/ Surplus/		£
							(Deficit) for
							the year
							£
RPMT Enterprises Ltd				1,200,795		697,981	502,814		504,815
The Royal Pavilion and Museums Foundation				-		-	-		169,375

The financial results of the subsidiaries for the year were:

Page 42

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

14. Stocks Group 2024 £ Finished goods and goods for resale 216,829 15. Debtors Group 2024 £ Due within one year Trade debtors 257,103 Other debtors 82,971 Prepayments and accrued income 739,510 1,079,584 16. Creditors: Amounts falling due within one year Group 2024 £ Trade creditors 206,597 Amounts owed to group undertakings - Other taxation and social security 342,866 Other creditors 8,891 Accruals and deferred income 396,641 954,995	Group 2023 £ 224,400 Group 2023 £ 66,056 46,080 695,194 807,330 Group 2023 £ 418,251 - 255,858 4,029 208,939 887,077	Company 2024 £ 61,910 Company 2024 £ 198,782 82,056 734,803 1,015,641 Company 2024 £ 192,136 143,084 181,911 8,891 322,869 848,891	Company 2023 £ 121,089
			Company 2023 £ 58,839 45,890 675,512

			780,241
			Company 2023 £ 404,283 66,313 223,799 3,430 187,685

			885,510

Page 43

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

17. Creditors: Amounts falling due after more than one year

	Group	Group	Company	Company
	2024	2023	2024	2023
	£	£	£	£
Concessionary loan	2,000,000	2,000,000	2,000,000	2,000,000

During the period the Charity did not draw down any further from the loan facility from Brighton and Hove City Council (£2,000,000 was drawn down in the prior year from a maximum £4,000,000 loan facility).

The loan is interest free and repayable by September 2030.

See note 26 for details of post year-end drawdown.

Page 44

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds

Statement of funds - current year

Unrestricted funds Designated funds Museum Objects Acquisition reserve Royal Pavilion fund JHG Botswana JHG Designated Julian Crampton legacy General funds General funds Total Unrestricted funds Endowment funds The Graham Loder Endowment Restricted funds ACE South East Museum Development Robertson Bequest Garden Project Tomkinson Piano Restoration Adelaide Chinese wallpaper Pagoda conservation Charles Wilson - Conservation Learning appeal Esme Fairburn MA Collections Schools Archaeology Fund Fidelity Graham Loder legacy Jack Thompson Hove Museum BHCC MEND Mellon	Balance at 1 April 2023 £ 59,584 66,683 54,459 77,840 41,201 299,767 (1,228,996) (929,229) 169,375 39,431 13,329 8,084 7 6,846 6,958 - 4,071 808 1,727 - 7,509 180,538 - 5,433	Income £ - - - 80,000 - 80,000 7,774,899 7,854,899 - 550,921 - 33,228 2,000 - - 50,000 - 23,460 - 163,500 - - 138,942 -	Expenditure £ - (39,562) - (79,943) (19,894) (139,399) (7,945,746) (8,085,145) - (574,918) - (14,000) (2,007) (6,846) (6,958) - (2,249) (24,268) (820) (134,652) - (46,953) (138,942) (5,433)	Balance at 31 March 2024 £ 59,584 27,121 54,459 77,897 21,307 240,368 (1,399,843) (1,159,475) 169,375 15,434 13,329 27,312 - - - 50,000 1,822 - 907 28,848 7,509 133,585 - -

Page 45

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Statement of funds - current year (continued)

NLHF - Goal Power JH Green Culture Change M Pel Fellowship CoPub Agreement Additional funds Total of funds	Balance at 1 April 2023 £ 121 158,063 4,614 15,579 18,054 471,172 (288,682)	Income £ - 190,109 - - 154,775 1,306,935 9,161,834	Expenditure £ (121) (115,335) (2,622) (15,579) (90,310) (1,182,013) (9,267,158)	Balance at 31 March 2024 £ - 232,837 1,992 - 82,519 596,094 (394,006)

Page 46

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Statement of funds - prior year

Unrestricted funds Designated funds Learning appeal Museum Objects Acquisition reserve Royal Pavilion fund JHG Botswana JHG Designated Julian Crampton legacy General funds General funds Total Unrestricted funds Endowment funds The Graham Loder Endowment Restricted funds ACE South East Museum Development Robertson Bequest Garden Project Tomkinson Piano Restoration Adelaide Chinese wallpaper Pagoda conservation Charles Wilson - Conservation Learning appeal Esme Fairburn MA Collections Schools Archaeology Fund Fidelity Graham Loder legacy Jack Thompson Hove Museum BHCC MEND	Balance at 1 April 2022 £ 1,735 64,914 99,274 54,748 100,337 59,741 380,749 (51,004) 329,745 169,375 15,399 14,253 - 9,007 6,846 16,762 - 4,099 - 3,755 5,866 7,509 180,538 -	Income £ - - - - 80,959 (40) 80,919 6,586,157 6,667,076 - 640,095 - 40,472 - - 4,500 18,638 - 26,780 51 - - - 10,000	Expenditure £ (1,735) (5,330) (32,591) (289) (103,456) (18,500) (161,901) (7,764,149) (7,926,050) - (616,063) (924) (32,388) (9,000) - (14,304) (18,638) (28) (25,972) (2,079) (5,866) - - (4,509)	Balance at 31 March 2023 £ - 59,584 66,683 54,459 77,840 41,201 299,767 (1,228,996) (929,229) 169,375 39,431 13,329 8,084 7 6,846 6,958 - 4,071 808 1,727 - 7,509 180,538 5,491

Page 47

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Statement of funds - prior year (continued)

Mellon NLHF - Goal Power JH Green Culture Change M Pel Fellowship CoPub Agreement Additional funds Total of funds	Balance at 1 April 2022 £ 6,133 6,866 200,000 10,650 20,000 6,707 514,390 1,013,510	Income £ - 22,650 - 3,500 10,000 35,079 811,765 7,478,841	Expenditure £ (700) (29,395) (41,937) (9,536) (14,421) (29,223) (854,983) (8,781,033)	Balance at 31 March 2023 £ 5,433 121 158,063 4,614 15,579 12,563 471,172 (288,682)

Page 48

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

Designated Funds

Museum Objects Acquisition Reserve - funds transferred to the Museum Service at time of merger of Brighton & Hove councils in 1996. The Director of Service designated the fund to support collections display, conservation and care.

Royal Pavilion Fund - Ringfenced reserves for use for capital works and improvements to the fabric and presentation of the building.

JHG Botswana - Sum set aside for loan of objects to The Khama III Memorial Museum, Botswana as an outcome of the Making African Connections: Decolonial Futures for Colonial Collections project 2019-21. Object loan deferred due to COVID and travel restrictions.

JHG Designated - Underspends on Annual J H Green Budget accrued over a number of years due to success in finding partnership funding for projects from elsewhere. The funds should be expended in line with the JHG Charitable Trust’s charitable purposes and trustees made aware of how it is being used. Supplemented annually by 80,000 annual grant fom the JHG held Endowment

Julian Crampton Legacy - Bequest from the late Professor Julian Crampton, former Chair of the Royal Pavilion & Museums Foundation which RPMT has designated for staff training and development.

Endowment fund

The Graham Loder Endowment - Bequest from former Member Graham Loder received in April 2010. The capital sum of £169,375 must be retained to generate investment income. The resulting income from the interest is restricted to the purchase of contemporary art and craft and is shown as a separate restricted fund. No purchases on behalf of the fund were made in 2022-23 or 2023-24.

Restricted funds

The Graham Loder Legacy is the income from interest on the endowment fund and is restricted to the purchase of contemporary art & craft.

The Royal Pavilion Garden Appeal - Funds raised from public appeal to support the restoration and maintenance of the Royal Pavilion Garden transferred from the foundation at the point the Trust was formerly established.

Learning Appeal - Donations raised through a former fundraising campaign 2015-2016 to help children visit museums.

The Pagoda Conservation Fund comprises donations to our Pagoda Restoration appeal. This funding is to be used for the restoration of two porcelain pagodas at the Royal Pavilion.

Tomkinson Piano Restoration – Donations raised through an appeal towards the restoration of the Tomkison piano at the Royal Pavilion.

Schools Archaeology Fund – a generous donation from a local archaeological charity towards materials and activities related to schools visiting the Archaeology Gallery.

ACE South East Museum Development - Arts Council England National Portfolio Organisation funding for South East Museum Development Service to deliver annual business plan as agreed by the Museum Development Coordination Group.

Robertson Bequest - The Robertson Charitable Trust made a charitable donation of £65,000 to the Royal Pavilion & Museums, Brighton & Hove in 2005, in memory of Charles and Barbara Robertson. The grant is held “on trust to apply the capital and income to meet the cost of conserving, displaying and

Page 49

Royal Pavilion and Museums Trust (A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

18. Statement of funds (continued)

purchasing (or contributing to the purchase of) items held or to be held as part of the 20th Century Decorative Art Collections maintained by the Brighton Museum".

Adelaide Chinese Wallpaper - Grant for Wallpaper conservation and research from the Paul Mellon Charitable Trust

Jack Thompson Hove Museum - Jack Outhwaite Thompson Legacy bequeathed to the Art Fund for the benefit of Hove Museum in 2003. The legacy funds are restricted to use by Hove Museum for acquisitions and/or care of its collections.

CoPub Agreement - Donation from Patron to fund salary for Curatorial time to research and write a publication on the Royal Pavilion over 2 year period.

NLHF Goal Power - Grant funding for trip to the US to support research for exhibition Goal Power! Women and Football.

Garden project - In 2019 RPMT was awarded development funding from the National Lottery Heritage Fund (NLHF) to restore and enhance the Royal Pavilion Garden. In January 2024 a further $.3M grant was approvered by the NLHF for the project delivery. In both instances BHCC is the grant recepient with project funds drawn down from BHCC for Trust related delivery elements. Additional funding support is also being provided by BHCC as well as fundraising initiatives led by RPMT.

Esme Fairburn MA Collections - Funding from the Esmee Fairburn’s Collections Fund to use the bird dioramas at the Booth Museum to support children & families in developing their understanding of environmental change and the value of natural history collections.

JH Green Culture Change - National Lottery Heritage Fund project to new digital content with volunteers for bring your own device (BYOD) tours of Brighton Museum and Preston manor.

Charles Wilson - Conservation - 3 year pledge to support 2 graduate conservator traineeships and associated training and material costs.

Fidelity - Donation towards increasing income generation capacity across visitor engagement, corporate support and retail licensing opportunities.

BHCC MEND - supplementary grant funding for Museum repair works.

Mellon - Second grant for wallpaper conservation and research from the Paul Mellon Charitable Trust.

M Pel Fellowship - Research project to fully document the objects that have a connection to Martin Battersby, an important benefactor to the collections.

Page 50

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

19. Analysis of net assets between funds

Analysis of net assets between funds - current period

Unrestricted funds 2024 £ Current assets 1,795,520 Creditors due within one year (954,995) Creditors due in more than one year (2,000,000) Total (1,159,475) Analysis of net assets between funds - prior period Unrestricted funds 2023 £ Current assets 1,957,848 Creditors due within one year (887,077) Creditors due in more than one year (2,000,000) Total (929,229)	Restricted funds 2024 £ 596,094 - - 596,094 Restricted funds 2023 £ 471,172 - - 471,172	Endowment funds 2024 £ 169,375 - - 169,375 Endowment funds 2023 £ 169,375 - - 169,375	Total funds 2024 £ 2,560,989 (954,995) (2,000,000) (394,006) Total funds 2023 £ 2,598,395 (887,077) (2,000,000) (288,682)
Analysis of net assets between funds - prior
Current assets Creditors due within one year Creditors due in more than one year Total

20. Reconciliation of net movement in funds to net cash flow from operating activities

Net expenditure for the period (as per Statement of Financial Activities) Adjustments for: Decrease / (increase) in stocks Increase in debtors Increase/(decrease) in creditors Net cash used in operating activities	Group 2024 £ (105,324) 7,571 (272,254) 67,918 (302,089)	Group 2023 £ (1,302,192) 41,388 (316,817) (153,914) (1,731,535)

Page 51

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

21. Analysis of cash and cash equivalents

Cash in hand Total cash and cash equivalents	Group 2024 £ 1,264,576 1,264,576	Group 2023 £ 1,566,665

		1,566,665

22. Analysis of changes in net debt

Cash at bank and in hand Debt due after 1 year	At 1 April 2023 £ 1,566,665 (2,000,000) (433,335)	Cash flows £ (302,089) - (302,089)	At 31 March 2024 £ 1,264,576 (2,000,000)
			(735,424)

23. Pension commitments

The pension cost charge represents contributions payable by the group to the fund and amounted to £735,921 (2023: £766,841). Contributions totalling £84,162 (2023: £79,863) were payable at the balance sheet date and are included within creditors.

24. Operating lease commitments

At 31 March 2024 the Group and the Company had commitments to make future minimum lease payments under non-cancellable operating leases as follows:

Not later than 1 year Later than 1 year and not later than 5 years Later than 5 years	Group 2024 £ 151,920 364,880 1,459,520 1,976,320	Group 2023 £ 151,920 425,580 1,550,740 2,128,240	Company 2024 £ 151,920 364,880 1,459,520 1,976,320	Company 2023 £ 151,920 425,580 1,550,740

				2,128,240

Page 52

Royal Pavilion and Museums Trust

(A company limited by guarantee)

Notes to the financial statements For the year ended 31 March 2024

25. Related party transactions

Charity and group:

No related party transactions during the period.

Charity:

Trustee expenditure reimbursed amounted to £1,023 (2023: £nil)

26. Post balance sheet events

After the year-end the Charity drew down a further £1,000,000 from the loan facility provided by Brighton and Hove City Council (bring the total to £3,000,000 drawn down from a maximum of £4,000,000).

The loan is interest free and repayable by September 2030.

27. Controlling party

The trustees who are also the directors control the charity.

Page 53

(A company limited by guarantee)

Contents

(A company limited by guarantee)

Reference and administrative details of the Company, its Trustees and advisers For the year ended 31 March 2024

(A company limited by guarantee)

Trustees' report For the year ended 31 March 2024

Objectives and activities

a. Policies and objectives

a) The Objects of the Charity are:

(A company limited by guarantee)

Objectives and activities (continued)

b. Strategies for achieving objectives

Strategic Framework

Our priorities

We wil l

Offering world class visitor venues:

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

Mission & Vision

c. Activities undertaken to achieve objectives

(A company limited by guarantee)

Objectives and activities (continued)

d. Social investment policies

e. Grant-making policies

f. Volunteers

g. Main activities undertaken to further the Company's purposes for the public benefit

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Objectives and activities (continued)

h. Cultural Exemption

Its eligibility is based on the fact the Trust:

i. Education

Achievements and performance

(A company limited by guarantee)

Achievements and performance (continued)

a. Main achievements of the Company

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

b. Key performance indicators

(A company limited by guarantee)

Achievements and performance (continued)

c. Summary review of activities

2.3.1 Collections & Research

Loans

Loans Out

Research

Acquisitions & Disposals

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

2.3.2 Conservation

2.3.3 Gardens & Buildings

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

2.3.4 Audiences & Engagement

Our Museums

2.3.5 Exhibitions and displays

Brighton Museum & Art Gallery

Royal Pavilion

(A company limited by guarantee)

Trustees' report (continued) For the year ended 31 March 2024

Achievements and performance (continued)

Hove Museum of Creativity

2.3.6 Events and Education

2.3.7 Communities, Partnerships and Engagement

Achievements and performance (continued)

2.3.8 Income Generation

(A company limited by guarantee)

Achievements and performance (continued)

2.3.9 Marketing, Communications & Digital

2.3.10 Business Services

2.4 Our People

2.4.1 Staff

2.4.2 Key Staff Changes

d. Factors relevant to achieve objectives

Achievements and performance (continued)

e. Fundraising activities and income generation

Financial review

a. Going concern