# **Trustees’ Annual Report & Financial Statement** ## **1 May 2023 - 30 April 2024** **A Charitable Incorporated Organisation Registered Charity Number 1187853** ## _Together We Celebrate_ **Friday 26[th] July 6pm – 9pm at Marlow Museum: Launch of the new exhibition** _‘From Frankenstein to Noddy - Writers of Marlow’_ Exhibition to be opened by ‘Mary Shelley’. Further events on Saturday 27[th] and Sunday 28[th] 1-5pm ## **Marlow Museum Centre Project Trustees’ Annual Report & Statement of Financial Activity for the Year Ended 30 April 2024** ## **Contents** ||**Contents**|**Contents**| |---|---|---| |**1**|**Reference and Administration Details 2023-24 ............................. 4**|| ||1.1|Charity Name & Registration................................................. 4| ||1.2|Charity’s Address .................................................................. 4| ||1.3|Names of the Trustees Who Manage the Charity.................. 4| ||1.4|Names of Advisors ................................................................ 4| ||1.5|Bank ...................................................................................... 4| ||1.6|Independent Examiner.......................................................... 4| |**2**|**Structure, Governance & Management ......................................... 5**|| ||2.1|Type of Governing Document ............................................... 5| ||2.2|Trustee Selection Methods ................................................... 5| ||2.3|Governance & Management ................................................. 5| |**3**|**Activities, Achievements & Performance 2023-4........................... 7**|| ||3.1|Objects of the CIO ................................................................. 7| ||3.2|Statutory Declaration ............................................................ 7| ||3.3|Activities, Achievements & Performance .............................. 7| |**4**|**Financial Review........................................................................... 11**|| ||4.1|Details of Any Funds Materially in Deficit............................ 11| ||4.2|Policy on Reserves .............................................................. 11| ||4.3|Principal Sources of Funding and Outgoings ....................... 11| ||4.4|Remuneration of Trustees .................................................. 12| ||4.5|Financial Status ................................................................... 12| ||4.6|Statutory Statements on Liabilities ..................................... 13| |**5**|**Statement of Financial Activity .................................................... 14**|| ||5.1|Independent Examiner’s Report on the Accounts ............... 14| ||5.2|Receipts & Payments During the Financial Year Ended 30 April 2024.15| ||5.3|Approval of the Board of Trustees ...................................... 16| ||5.4|Notes to the Accounts......................................................... 17| Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 3 of 20 ## **1 Reference and Administration Details 2023-24** ## **1.1 Charity Name & Registration** The Charity’s name is Marlow Museum Centre Project, known informally as Marlow Museum. It is a Charitable Incorporated Organisation, registration number 1187853, registered with the Charity Commission on 10 February 2020. The charity is also registered with HM Revenue & Customs. ## **1.2 Charity’s Address** Court Garden, Pound Lane, Marlow, Buckinghamshire SL7 2AE. e-mail: contact@marlowmuseum.org website: www.marlowmuseum.org ## **1.3 Names of the Trustees Who Manage the Charity** |**_Name_**|**_Office_**|**_Appointed_**| |---|---|---| |Michael A. Hyde|Chair|2020| |Richard Krajewski|Treasurer|2020| |David Part|Vice Chair|2020| |Della Fitzgerald|Secretary|2020| |Philip Kersey||2021| |Roger Wilson||2021| |Alex Collingwood||2021| |Jacqueline Roberts||2023| ## **1.4 Names of Advisors** Cllr David Johncock, Bucks Council Cllr Natalia Mityaeva, Marlow Town Council Brendan Carr, Museum Mentor for Accreditation Madeleine Ding, Documentation Officer (FTA: July 2022-July 2023). Emily Toettcher, Fundraising & Audience Development (FTAs Sept 2023-Sept 2024) ## **1.5 Bank** Lloyds Bank, 45 High St, Maidenhead SL6 1JS ## **1.6 Independent Examiner** Roger C. Smith Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 4 of 20 ## **2 Structure, Governance & Management** ## **2.1 Type of Governing Document** The governing document is a constitution, based on the Charity Commission’s model governing document for a Charitable Incorporated Organisation with voting members other than its trustees. ## **2.2 Trustee Selection Methods** There must be at least three charity trustees. There is no maximum number of charity trustees that may be appointed to the CIO. In accordance with the Constitution, Trustees are appointed or re-appointed by a resolution passed at a properly convened meeting of the charity trustees or at the Annual General Meeting of Members. In appointing Trustees, due consideration is given to ensuring that the Trustees have, between them, the skills and experience necessary to manage the charity effectively and in accordance with charity law. All new trustees are given a copy of the Constitution, the most recent Trustees’ Annual Report & Financial Statement, and Minutes of recent Trustees’ meetings. ## **2.3 Governance & Management** The Trustees and Advisors make up the Management Committee which is responsible for the management of the museum. There are three sub committees, Planning & Finance; Managing Collections; and Volunteers & Visitors’ Engagement, which report to the Management Committee and make recommendations for the Committee’s approval. The next page shows the organisational structure for 2023-24. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 5 of 20 Marlow Museum Organisational Structure October 2023 MEMBERS Ic401 TRUSTEES Mlke Hyde {Chalrman); Dave Part (Vice Chairl,. Rick Krajewski (Treasurer); Della Fitzgerald (Secretary); Philip Kersey,. Roger Wilson. Alex Collingwood. Jacqueline Roberts. MANAGEMENT COMMIThEE ALL THE TRUSTEES, plus these ADVISORS: Cllr Natalia Mityaeva (Marlow Town Councill,. Cllr David Johncock (Bucks Council); Brendan Carr (Museum Mentor for Accreditation} PLANNING & FINANCE SUB-COMMIThEE (A) RW, MH, RK, DF MANAGING THE COLIECTION SUB COMMITTEE (BI DF, P. Mcmullen, R. Blazey VOLUNTEERS & VISITOR ENGAGEME SUB COMMIThEE (C) DP, B. Wallis, T. Mitchelmore, T. Ray. WEBSITE K.Warne FUNDRAISING DFIEmily Toettcher MUSEUM CURATOR Audience Development Owieer Emily Toettcher Ifreel8ncel' Rota & Volunteèr Support B.Wallis COMMUNICATIONS & PUBLICITY Ifreelancel. SALES TM. RK. DF MEMBERSHIP SEcR￿ARy IDF. RKI Vacanc Collection Volunteers DF. RB. PM. MMS Vacancies Front of House Duty Managers MH.. RK.. DP.. DF; AF; BW.. AB,. SW,. TM STOCK STATS CONTROL David TM Wraight CLEANING & MAINTENANCE IMH. Alan Bartram. TM, SRI Vacanc EVE￿5 & OUTREACH MUSEUM STEWARDS acan FRIENDS OF MARLOW MUSEUM ALL VOLUNTEER ROLES EXCEPT ANY MARKED. Marlow Museum Centre Project.. Trustees, Annual Report & Financial Statements 2023-24 Page 6 of 20 ## **3 Activities, Achievements & Performance 2023-4** ## **3.1 Objects of the CIO** The Objects of Marlow Museum Centre Project are to advance the education of the public by the establishment and maintenance of a museum for the collection, preservation, conservation, explanation, interpretation and display of artefacts, specimens, historical and other records relating to the communities of Marlow Town, Bisham, Little Marlow, Great Marlow, Marlow Bottom, and Medmenham. ## **3.2 Statutory Declaration** The Trustees confirm that they have paid due regard to the guidance issued by the Charity Commission on public benefit in deciding what activities the charity should undertake. ## **3.3 Activities, Achievements & Performance** ## **a) Museum Refurbishment** Last year’s report stated the intention to undertake a complete makeover of the interior of the museum, to show what can be achieved within a small building. It was acknowledged that the size of the building was limiting, but the plan was to give it a high-quality fresh new look, with the intention of appealing more successfully to families, schools, tourists and existing supporters. 22nd May 2024 would mark the 15[th] anniversary of the opening of the museum. Accordingly, during 2023-24 the trustees set about raising funds for a Birthday Makeover project. With the encouragement and support of freelance museum consultant Emily Toettcher, the museum was fortunate to achieve total funding of £17,627 from the following sources: SW Chilterns Community Board; Marlow Town Council; S. E. Museum Development’s Access Audit Grant; S.E. Museum Development’s Going Green Grant; and the Shanly Foundation. The museum also made a substantial contribution from its own funds; however the landlord Buckinghamshire Council has promised to recompense the museum for money spent on emergency repairs to the timbers of the west wall, which were found to be rotten once the makeover had begun. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 7 of 20 The museum was closed for the makeover for ten weeks, from January 31[st] until a ‘soft’ reopening on April 6[th] with a Building Bird Boxes activity for children, run by Wild Marlow outside the museum. The Official Reopening and 15th Anniversary Celebration was held on May 22[nd] with fifty people taking part, including sponsors, councillors and representatives of various local organisations. The building is now warmer in winter and cooler in summer: more energyefficient, comfortable and welcoming for both visitors and volunteers. The walls and loft have been insulated, the loft part-boarded and the windows double glazed. There is new LED directional lighting replacing the old fluorescent tubes. A new wood-effect vinyl floor has transformed the appearance of the museum. A bespoke reception desk with matching bookcase has made space for a new retail area. A contactless donations box, alongside the contactless payment machine, uses technology to raise funds more efficiently. ## **b) Exhibitions and displays** The exhibitions for much of last year were the permanent ‘Story of Marlow’ and ‘Marlow in the 1950s’ which continued because it was popular and the trustees were planning the museum refurbishment. There was also a small temporary display to celebrate the 150[th] anniversary of the Marlow Donkey, the single track railway between Marlow and Maidenhead. After the refurbishment, the museum reopened with a temporary exhibition of ‘20 Remarkable Marlovians Through the Ages’, as well as the permanent ‘Story of Marlow’. The new exhibition booklet on sale in the museum contains the stories of 45 Remarkable Marlovians. Because the museum was closed for 10 weeks at the start of 2024, visitor numbers inevitably were slightly down on last year; however, they made a strong return during the ‘soft’ opening in April and this has continued. At the 15th Anniversary celebration in May there was a display of photographs from 2009 till the present, showing the huge range of displays, events and activities that the museum has put on over that time. ## **c) Museum professionals working with the Museum** Marlow Museum has always been volunteer-led and staffed. However, over the last two years the trustees have benefited greatly from professional advice, first Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 8 of 20 from the Accreditation Mentor from Reading Museum; then from a Documentation Officer, suggested by the Mentor, on a fixed term agreement; and lastly from a freelance Museum Consultant who, during in 2023-24, has undertaken two fixed term agreement projects for Marlow Museum: a Fundraising Review and Strategy, and an Audience Development Project. The trustees realise that the museum has now progressed to the extent that volunteers can benefit considerably from professional assistance to develop it further. ## **d) Legacies** Over the last decade the museum has benefited from legacies from several people who had been volunteer stewards and wanted to leave the museum something in their will, usually a gift in the order of £1000, but sometimes objects for the museum’s collection. These legacies have been extremely helpful and have enabled the trustees to make special purchases such as a gazebo with museum branding for use at public occasions like Marlow Carnival. In the last months of this financial year, however, the museum has inherited something really special: a carefully-collected lace collection, with associated equipment and books, from an internationally-known lace expert, Pamela Nottingham Johnson. The trustees have taken advice from the Lace Guild about identification and care of the lace. In addition, Pamela chose to leave a substantial share of her large estate to several charities, the museum being one of them. The gift of £250,000, coming in April 2024, has given the museum financial security and will enable it to make plans for the future with hope. The trustees have decided to designate the bulk of the money as an investment fund, from which the museum can cover much of its running costs, thus avoiding the risk of repeated operational deficits as incurred in previous years. Pamela was born in Marlow and although she moved away in her forties, she never lost her love for the town. She used to return regularly to volunteer as a museum steward and demonstrate and teach lace. Her ashes have been interred in Marlow cemetery alongside her parents. A commemorative lace exhibition will be held at the museum in 2025. ## **e) Looking Ahead** The next exhibition at the end of July 2024 will be ‘From Frankenstein to Noddy – Writers in Marlow’ for which we hope to borrow objects from various sources, including Eton College Museum. This will run until Spring 2025. It will Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 9 of 20 be opened by ‘Mary Shelley’ on Friday 26[th] July, as part of the Bucks Culture Open Weekend with events at the museum continuing until Sunday 28[th] July. The plan for 2024-5 is to complete the inventory of the museum’s collections, including the new lace collection, and further implement the policies, plans and procedures created in the work towards Accreditation, including making the museum more energy efficient and more accessible to all visitors. The trustees will apply for Accreditation with Arts Council England by February 2025. Meanwhile the trustees intend to commission a new website and purchase software to better manage the volunteer rota. They will arrange for the Collections database to be transferred to Modes, the standard museum collections management system. For the next year, the trustees plan more input from museum professionals to create a better learning programme for schools and a programme of activities for families. The intention is to complete and implement the Audience Development Plan, improving displays and activities in line with feedback from the target visitor groups. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 10 of 20 ## **4 Financial Review** ## **4.1 Details of Any Funds Materially in Deficit** The Charity has no funds which are materially in deficit. ## **4.2 Policy on Reserves** The Charity’s policy on reserves is to generate and maintain a balance which is sufficient: - a) to preserve the financial viability of the Charity in the event that unforeseen and/or unavoidable circumstances precipitate a short-term fall in its income; - b) to enable the Charity, in the interests of meeting its objectives, to undertake from time to time the setting up of new and innovative projects on a pilot basis to demonstrate the viability and potential benefits of such activities as a precursor to securing the external funding necessary to maintain such projects on an on-going basis. For these purposes the Charity will endeavour to generate and maintain reserves which are at least 50% of its annual expenditure. ## **4.3 Principal Sources of Funding and Outgoings** The museum closed the year with reserves increased by over £240,000 to £260,000 down to one matter – the museum was in receipt of (a first deposit from) a legacy from long term friend, member and steward of the museum – Pam Nottingham Johnson who sadly passed away last year. Ignoring the legacy, the museum incurred a deficit of £8,500 in the year, largely reflecting the trustees’ investment into the redevelopment of the museum, as well as their continued investment in processes such as fund raising and audience development as the museum heads towards Accreditation. Ignoring the museum’s contribution to the refurbishment from reserves and the investment in fund raising, its “on-going” deficit was below £5,000 which is about what the trustees would expect, given pre-exceptional levels of income and costs of c.£4,000 and c.£9,000 respectively. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 11 of 20 Ignoring the matters referred to above, the museum’s “on-going” revenues and costs were broadly flat year on year. Whilst historically the trustees have reported that a continuation of annual deficits cannot be sustained for long, with the legacy, which is currently invested to generate interest income, they should expect the on-going deficit to be more than covered for the foreseeable future – certainly whilst interest rates remain relatively high – providing the museum with the opportunity to continue to invest in infrastructure, systems and other resources. The trustees have already noticed a step-up in visitor numbers since the museum was relaunched in May with a new exhibition to boot: sales and donations are currently more than double the same period last year and long may this continue. Combined with the audience development work being undertaken and fund-raising investment, the trustees are hopeful of ever decreasing the on-going operating deficit. We ended the year with over £20,000 at the bank and an investment fund of £240,000. ## **4.4 Remuneration of Trustees** All Trustees act in a voluntary capacity and receive no remuneration or other material benefits from their services to the Charity. Out-of-pocket expenses necessarily and reasonably incurred by Trustees in promoting the purposes of the Charity are reimbursed at cost. ## **4.5 Financial Status** The charity’s current resources from unrestricted and restricted funds are sufficient to meet its outgoings for at least the next year. All the indications are that this will remain the case for the foreseeable future. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 12 of 20 ## **4.6 Statutory Statements on Liabilities** The Trustees declare that: - The charity has given no guarantees where potential liability under the guarantee is outstanding at the date of this statement ( _e.g.:_ any outstanding/ongoing contract or legal undertaking to buy or provide specific services); - The charity has no debt outstanding at the date of this statement which is owed by the CIO and which is secured by an express charge on any assets of the CIO ( _e.g.:_ a mortgage on property owned by the charity). Approved by the Trustees and signed on their behalf, Michael A. Hyde (Chair) Date: 28[th] June 2024 Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 13 of 20 **5 Statement of Financial Activity** ## **5.1 Independent Examiner’s Report on the Accounts** **Report to the Trustees and Members of Marlow Museum Centre Project on the accounts for the year ended 30 April 2024 set out on the following pages** ## **5.1.1 Responsibilities and Basis of the Report** As the charity trustees of the Trust you are responsible for the preparation of the accounts in accordance with the requirements of the Charities Act 2011 (‘the Act’). I report in respect of my examination of the Trust’s accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the Act. ## **5.1.2 Independent Examiner’s Statement** I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect: 1. accounting records were not kept in respect of the Trust as required by section 130 of the Act; _or_ 2. the accounts do not accord with those records. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Roger Smith Date: 28[th] June 2024 Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 14 of 20 ## **5.2 Receipts & Payments During the Financial Year Ended 30 April 2024** Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 15 of 20 ## **5.3 Approval of the Board of Trustees** The Trustees declare that they have approved the above Annual Report & Statement of Financial Activity. Signed on behalf of the Trustees: Rick Krajewski, Treasurer Date: 28[th] June 2024 Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 16 of 20 ## **5.4 Notes to the Accounts** ## a) **Accounting Policies** The financial statements have been prepared in accordance with the Charities Act 2011 Section 133, using the Receipts and Payments basis available to small charities and the charity’s own Simple Accounts Spreadsheet. ## b) **Reimbursement of Out-of-Pocket Expenses** Out-of-pocket expenses necessarily, reasonably and incidentally incurred by Trustees in the course of their duties as Trustees are reimbursed in accordance with the prevailing Financial Policies & Procedures. ## c) **Salaries & Professional Fees** No trustee receives any payments for the services they provide to the charity. ## d) **Fixed Assets** The charity has not purchased or disposed of any fixed assets in the current financial year. ## e) **Creditors** Cheques issued prior to the end of the financial year but not appearing in the end of financial year bank statement are only reported as outstanding creditors if they remain unpresented at the time of producing the financial statements. ## f) **Rounding Discrepancies** All amounts are recorded to the penny, but in these accounts are shown as digitally rounded to the nearest pound. This can occasionally result in a total apparently not being the sum of its constituent amounts. All individual amounts, and their totals, are nevertheless correct. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 17 of 20 In fond memory of our loyal steward and lace maker, Pam Nottingham Johnson,who passed away on 12[th] May 2023 and has included the Museum in her will. Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 18 of 20 Marlow Museum Centre Project= Trustees. Annual Report & Financial Statements 2023-24 Page 19 of 20 Court Garden, Pound Lane, Marlow, Bucks SL7 2AE www.marlowmuseum.org Marlow Museum Centre Project: Trustees’ Annual Report & Financial Statements 2023-24 Page 20 of 20