THE SIDMOUTH TOY AND MODEL MUSEUM Trustees Report and Financial Statements For the Year Ended 28 February 2026 **Charity Registration Number: 1187808** THE SIDMOUTH TOY AND MODEL MUSEUM FOR THE YEAR ENDED 28 FEBRUARY 2026 |**TABLE OF CONTENTS**|**Page Number**| |---|---| |Regulatory Information|1| |Trustees Report|2-7| |Accountant’s Report|8| |Statement of Financial Activities|9| |Balance Sheet|10| |Notes to the Financial Statements|11-19| THE SIDMOUTH TOY AND MODEL MUSEUM ## REFERENCE AND ADMINISTRATIVE DETAILS FOR THE YEAR ENDED 28 FEBRUARY 2026 |**Charity Number**|**Charity Number**|||1187808| |---|---|---|---|---| |**Registered**|**office**|**and**|**operational**|The Old Chapel| |**address**||||Chapel Street| |||||Sidmouth| |||||EX10 8ND| |**Trustees**||||Ian Gregory| |||||Rebecca Gregory| |||||Tony Pennison| |||||James Gregory (Appointed 1 January 2026)| |**Accountants**||||Price Bailey LLP| |||||Causeway House| |||||1 Dane Street| |||||Bishop’s Stortford| |||||Hertfordshire| |||||CM23 3BT| 1 THE SIDMOUTH TOY AND MODEL MUSEUM TRUSTEES REPORT FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ The Board of Trustees present their report and accounts for the year ended 28 February 2026. ## **Accounts** The accounts have been prepared in accordance with the accounting policies set out in note 1 to the accounts and comply with the charity’s governing document, applicable law and the requirements of the Statement of Recommended Practice “SORP 2019 (FRS102)”, and the Charities Act 2011. ## **Structure** The Sidmouth Toy and Model Museum (The "Charity") was registered as a Charitable Incorporated Organisation (CIO) on the 7 February 2020 and is governed by its constitution. ## **Board of Trustees** The Board of Trustees which served during the period, and up to the date of signing the trustees' report, consists of the following individuals: Ian Gregory Rebecca Gregory Tony Pennison James Gregory (Appointed 1 January 2026) ## **Registered Details** Registered address: The Old Chapel, Chapel Street, Sidmouth, EX10 8ND Registered charity number: 1187808 Bankers: CAF Bank Accountants: Price Bailey LLP, Causeway House, 1 Dane Street, Bishop’s Stortford, Hertfordshire, CM23 3BT ## **Website** The Trustees for The Sidmouth Toy and Model Museum are happy to present the following website: **https://sidmouthtoymuseum.com/** ## **Objects** The object of the charity is to advance the education of the general public in Sidmouth by the provision of a toy and model museum. 2 ## THE SIDMOUTH TOY AND MODEL MUSEUM TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ ## **Mission** The main objective of the charity is to provide information to educate visitors to the museum about historical toys and models. The charity also provides the opportunity for members of the public to donate or loan toys and models of historical interest to the museum for display. ## **Review of Activities** The museum was open for 111 days (111 days in 2024-25) and the average attendance per day was 41 (39.5 in 2024-25). The museum did not open during December as originally planned. We continue to engage with local schools and undertook one visit to a school, and five school visits were made to the museum. Talks were also given to the following organisations throughout the year: - Sidmouth Hospice at Home - Sidmouth Memory Café - Young at Hearts Club - Sidmouth Volunteer Service - Whimple History Society We continue to receive donations and old toys and models, although given capacity issues we do not take all items offered to us. We continue to extensively rely on our volunteers who do a great job in supporting the museum throughout the year. We have increased our active volunteer pool to 17. In September 2025 the museum sponsored the Sidmouth Chamber of Commerce Classic Car Show and in return was given a pitch to market the museum. This was a successful event as the museum was also open on the same day, allowing members of the public to attend both events. The car park income remains stable and there continues to be a long waiting list for spaces. In addition, the cottage attached to the museum was rented out in the summer providing an income of £1,020. 3 THE SIDMOUTH TOY AND MODEL MUSEUM TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ ## **Plans for 2026-27** The budget for 2026-27 is similar to that of the previous year. We continue to monitor overheads closely but do expect some significant expenditure on maintaining the building. We plan to open for 113 days during the year and will be closed from 30 October 2026 to 21 March 2027. The trustees decided not to increase the admission fee this year and expect rising costs to be met by increased visitor numbers. We plan to rent out the cottage again throughout the year and have set a budget of £800. We are pleased that James Gregory BA MA has joined the trustees. James has worked in the charity sector for over four years and brings a current knowledge of the sector to the trust. This meets our succession plans for the immediate future, but we continue to look for local trustees to join us. ## **Financial review** The Charity received donations, grants and other income worth £23,728 (£21,645 in 2025) in the year. As at 28 February 2026, the Charity carried forward a positive bank balance of £47,843 (£38,610 in 2025). In accordance with SORP 2019, costs have been allocated between direct charitable activities and support costs. In summary, direct charitable activities totalled £633 (£93 in 2025) and support costs totalled £13,988 (£13,308 in 2025). 4 THE SIDMOUTH TOY AND MODEL MUSEUM TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ ## **Public Benefit** As a charity, The Sidmouth Toy and Model Museum must be able to demonstrate that its objects and activities are for the public benefit as required by the Charities Act 2011. The Trustees have all reviewed the guidance issued by the Charity Commission on public benefit and have ensured that the Sidmouth Toy and Model Museum’s objects and activities comply with this statutory requirement. The Trustees confirm that they have complied with the duty in section 17 of the Charities Act 2011 to have due regard to the public benefit guidance published by the Charity Commission in determining the activities undertaken by the charity. This report explains our main activities and achievements in carrying out our aims. ## **Governance and internal control** The systems of internal control are designed to provide reasonable assurance against material misstatement or loss. They include: - The trustees being responsible for the strategic direction of the Charity and, subject to any prudent delegation to advisers, and agents, make all substantive decisions in relation to the Charity. The trustees are not remunerated; - Regular consideration by the Board of Trustees of financial results and non-financial indicator reviews; - Prudent delegation of authority and segregation of duties; - • Identification and management of risks. Day-to-day decisions continue to be taken by two trustees. All items of expenditure required the approval of two trustees before payment is made. The bank account is reconciled monthly, and management accounts are reviewed by the trustees on a regular basis. 5 THE SIDMOUTH TOY AND MODEL MUSEUM ## TRUSTEES REPORT (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ ## **Risk management** The Board of Trustees are fully aware of the need to assess the risks faced by the charity and to minimise those risks. These are events/outcomes that may have a severe impact on operational performance, achievement of aims and objectives or reputation. During the fiscal year the Trustees have discussed such Risks and continue to maintain and update the Risk Register. The main risk facing the charity continue to be physical damage to a member of the public when visiting the museum. This risk continues to be mitigated by securing all exhibits appropriately, providing signage about uneven floor, yellow and black tape at the edge of steps and monitoring of visitor activity by volunteers. The trustees undertake informal ad hoc reviews to confirm that the mitigating controls remain in place. The trustees also have a Public Liability Insurance of £5 million. The trustees have reviewed and confirmed that appropriate controls exist against possible financial loss. ## **Reserves policy** Trustees are committed to generating sufficient reserves to support current charitable activities to meet the following requirements: - Safeguard the charity’s service commitment in the event of delays in receipt of grants or other income. - Providing a financial cushion against risk and future uncertainties. - Resourcing the research and development of services and initiatives. Free Reserves (Unrestricted funds less fixed assets) amounted to £46,642 at the year-end (£37,535 in 2025). The charity’s Reserves Target continues to be set at £5,000. ## **Going Concern** The trustees have assessed whether the use of going concern is appropriate and have considered possible events or conditions that might cast significant doubt on the ability of the charity to continue as a going concern. The trustees have made this assessment for a period of at least one year from the date of approval of these financial statements. In particular, the trustees have considered the charities forecasts and projections and have taken account of pressures on income. After making enquiries, the trustees have concluded that there is a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. The charity therefore continues to adopt the going concern basis in preparing its financial statements. 6 THE SIDMOUTH TOY AND IAOtsEL MUSEUM TRUSTEES REPCfftT (CONTIWED) FOR ThE YEAR ENDED 28 FEBRUARY 2026 The Trustees tre respon8sble for yeyirwj the T￿￿t¢s. Rewt **INCOME**
2
Other trading income
Charitable activities
Donations
Investment income
Interest
Total income
**EXPENDITURE**
Charitable activities
3
Total expenditure
Revaluation
Net income
Net movement in funds
**RECONCILIATION**
**OF**
**FUNDS**
Total funds brought forward
Net movement in funds
Total funds carried forward|Unrestricted
Funds
£
6,547
15,230
846
1,020
85
23,728
(14,621)
(14,621)
240,000
249,107
249,107
597,535
249,107
846,642|Restricted
Funds
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-|Total
2026
£
6,547
15,230
846
1,020
85
23,728
(14,621)
(14,621)
240,000
249,107
249,107
597,535
249,107
846,642|Total
2025
£
6,665
12,944
1,128
840
68| |---|---|---|---|---| |||||21,645
(13,401)| |||||(13,401)
-| |||||8,244| |||||8,244| |||||589,291
8,244| |||||597,535| The accompanying notes on pages 11 to 19 form an integral part of these financial statements. The statement of financial activities includes all gains and losses recognised in the year. 9 ThÈ SIDMOUTH TOY AND MODEL MUSEUM BALAN￿ SHEEr AS AT 28 FEBRUARY 2026 2025 TaNJibl¢ a￿¢t$ Investment Prnptrty 575.1J)O 225.(h)O 160.0 560,(X)O Debtors Cash at bank ond in hand 1.629 47.843 49.472 1,515 38.610 40.125 ¢EtsrroRS: Amounts falling d within one year 30 46,642 37.535 NEf ASSETS 846,642 597535 Lhwestricted fuThts: General Restricted fw 846,642 597535 846.642 597.535 These accounts were awo¥ed by the 8oard of Tnjstre￿ and Postcards
Books
Sale of second-hand items
Car park charges
**Charitable activities**
Museum admission fees
Annual memberships
School visits
Group visits
**Investment income**
Cottage rental income
**Donations**
Other donations
Gift aid tax reclaimed
**Interest**
Interest
Total|**Unrestricted**
**funds**
£
35
23
349
6,140
6,547
14,655
15
330
230
15,230
1,020
606
240
846
85
85
23,728|**Restricted**
**funds**
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2026**
£
35
23
349
6,140
6,547
14,655
15
330
230
15,230
1,020

606
240
846
85
85
23,728|**Total**
**2025**
£
37
31
487
6,110| |---|---|---|---|---| |||||6,665
12,457
29
418
40| |||||12,944
840| |||||840
1,128
-| |||||1,128
68| |||||68| |||||21,645| All income received during the year and the prior year was unrestricted. 14 ## THE SIDMOUTH TOY AND MODEL MUSEUM ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) ## FOR THE YEAR ENDED 28 FEBRUARY 2026 ## **_____________________________________________________________________________** ## **3. EXPENDITURE** |**PENDITURE**||||| |---|---|---|---|---| |Charitable activities
Direct charitable activities
Support costs
Total|**Unrestricted**
**funds**
£
633
13,988
14,621|**Restricted**
**funds**
£
-
-
-|**Total**
**2026**
£
633
13,988
14,621|**Total**
**2025**
£
93
13,308| |||||13,401| Included in the above expenditure are direct charitable activities as follows: |Display materials
Volunteer payments
Total|**Unrestricted**
**funds**
£
367
266
633|**Restricted**
**funds**
£
-
-
-|**Total**
**2026**
£
367
266
633|**Total**
**2025**
£
75
18| |---|---|---|---|---| |||||93| Included in the above expenditure are support costs as follows: |Advertising costs
Associations
Bank charges
Communication costs
Cottage costs
Electricity
Fire precautions
Gas
Accounting costs (see below)
Insurance
Miscellaneous expenses
Licences
Payment services
Repairs and renewals
Security costs
Website costs
Sponsorship|**Unrestricted**
**funds**
£
1,026
95
60
384
2,976
751
445
1,065
3,111
2,456
202
217
192
320
139
424
125
13,988|**Restricted**
**funds**
£
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-|**Total**
**2026**
£
1,026
95
60
384
2,976
751
445
1,065
3,111
2,456
202
217
192
320
139
424
125
13,988|**Total**
**2025**
£
1,502
85
60
402
188
869
52
836
3,582
2,359
494
622
153
1,570
132
302
100| |---|---|---|---|---| |||||13,308| All expenditure incurred during the year and the prior year was unrestricted. 15 ## THE SIDMOUTH TOY AND MODEL MUSEUM ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 _____________________________________________________________________________ ## **3. EXPENDITURE (CONTINUED)** Governance costs include the following: |Accountancy fees
Total
**TANGIBLE FIXED ASSETS**
**Freehold Property**
**Cost**
At 1 March 2025
At 28 February 2026
**Revaluation**
Revaluation in the year
**Net book value**
At 28 February 2026
At 28 February 2025|**Unrestricted**
**funds**
£
3,111
3,111

|**Unrestricted**
**funds**
£
3,111
3,111

|**Restricted**
**funds**
£
-
-
**2026**
**£**
400,000|**Total**
**2026**
£
3,111
3,111|**Total**
**2026**
£
3,111
3,111|**Total**
**2025**
**£**
3,582
3,582
**2025**
**£**
400,000| |---|---|---|---|---|---|---| |||||||| |||||||| ||||400,000
175,000|||400,000
-| ||||575,000|||400,000| ||||400,000|||400,000| ## **4. TANGIBLE FIXED ASSETS** The 2026 valuations were made by the Trustees using their best estimate of the fair value at the Balance Sheet date. The Trustees confirmed that no depreciation needs to be provided. The last professional valuation was carried out on 5 November 2025. 16 ## THE SIDMOUTH TOY AND MODEL MUSEUM ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 **_____________________________________________________________________________** ## **5. INVESTMENT PROPERTY** |**Valuation**
At 1 March 2025
Revaluation in year
At 28 February 2026|**Investment Property**
£
160,000
65,000| |---|---| ||225,000| The 2026 valuations were made by the Trustees using their best estimate of the fair value at the Balance Sheet date. The Trustees confirmed that no depreciation needs to be provided. The last professional valuation was carried out on 5 November 2025. ## **6. DEBTORS** |Prepayments
Total debtors
**CREDITORS**
Accruals
Deposits
Total creditors|**2026**
£
1,629
1,629
**2026**
£
2,580
250
2,830|**2025**
£
1,515| |---|---|---| |||1,515| |||**2025**
£
2,340
250| |||2,590| ## **7. CREDITORS** ## **8. RELATED PARTIES** Included in income from donations are donations of £584 (2025: £919) from Ian Gregory, a Trustee of the Charity. Expenses totalling £NIL (2025: £NIL) were reimbursed to Ian Gregory for travel & subsistence on behalf of the charity. There are no other related party transactions. 17 ## THE SIDMOUTH TOY AND MODEL MUSEUM ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 **_____________________________________________________________________________** ## **9a. RESERVES** |Unrestricted funds
Restricted funds
Total funds|**As at 1**
**March**
**2025**
£
597,535
-
597,535|**Income**
£
23,728
-
23,728|**Expenditure**
£
(14,621)
-
(14,621)|**Revaluation**
£
240,000
-
240,000|**As at**
**28 Feb**
**2026**
£
846,642
-| |---|---|---|---|---|---| ||||||846,642| ## **9b. RESERVES COMPARATIVE** |Unrestricted funds
Restricted funds
Total funds|**As at 1**
**March**
**2024**
£
589,291
-
589,291|**Income**
£
21,645
-
21,645|**Expenditure**
£
(13,401)
-
(13,401)|**Revaluation**
£
-
-
-|**As at**
**28 Feb**
**2025**
£
597,535
-| |---|---|---|---|---|---| ||||||597,535| 18 ## THE SIDMOUTH TOY AND MODEL MUSEUM ## NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 28 FEBRUARY 2026 ## **_____________________________________________________________________________** ## **10a. ANALYSIS OF NET ASSETS BETWEEN FUNDS** |Non-current assets
Current assets
Current liabilities
Total funds|**Unrestricted**
**funds**
£
800,000
49,472
(2,830)
846,642|**Restricted**
**funds**
£
-
-
-
-|**Total**
**2026**
£
800,000
49,472
(2,830)
846,642|**Total 2025**
£
560,000
40,125
(2,590)| |---|---|---|---|---| |||||597,535| ## **10b. ANALYSIS OF NET ASSETS BETWEEN FUNDS COMPARATIVE** |Non-current assets
Current assets
Current liabilities
Total funds|**Unrestricted**
**funds**
£
560,000
40,125
(2,590)
597,535|**Restricted**
**funds**
£
-
-
-
-|**Total 2025**
£
560,000
40,125
(2,590)
597,535|**Total 2024**
£
560,000
31,701
(2,410)| |---|---|---|---|---| |||||589,291| 19