REGISTERED CHARITI, Nu￿qBER.. 1191056
REPORTOFTHE TRUSTEES AND
[INAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED31 MARCH 2024
FOR
TOURING EXHIBITIONS GROUP
Flint & Thompson
2 Manor Souare
West Midlands
B91 3PX

TOCIRING EXHIBITIONS GROVP
CONTEINTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024
P*ge
Report of the Trustees
Independent ExAminer's Report
Statement of Fingntial Activities
Balance Sh¢et
Note5 to the Financial Statements
9 10 14
Detailed Statemtnt of Financial Activities
15 10 16

TOURING EXHIBITIONS GROUP
REPORT OF THE TRIJSTEES
for the l'ear Ended 31 March 2024
Th¢ trustee5 present rheii. report with the finantial statements of the charity for the year ended 31 March 2024. The
trustees have adopted the provisions of Ac¢ounting and Reporting by Charitl¢s.' Statement of RecoiMIMended Practice
applicable to charities preparing their accounts in accordance with the Fsnancial Reporting Standard applic2ble in the
UK and Republic of Ireland IFRS 1021 leffeciive l January 2019).
OB.IECTIVES AND ACTIVITJES
Charitable activities
The objectives of The Charity are to promote 2rt culture and science for the benefit of the publi¢ by supporting research.
PTOmOtinE best practice. delivering rraining and facilitatine a netWtsTk of Providers and re¢ipi¢nts of touring and
parthership exhibitiotis in miiseums. galleries. heritage and oiheT Slte5 across the United Kingdom.
Public benefit
Thc trustees are Inindful of the Charity Commission Guideline on public benefit.
ACHIEVEMENT AND PERFORMANCE
Chgritable 4¢tivities
The Charity ha5 completed its first of a four-year funding grant with Arts Council England, which sees a substantial
incr¢as¢ in its activiri and related incom¢. At the end of the financial period bank dep051ts amounied to £134.J35 {2023
£32.7291.
Co-chairs Report: 2024 Activities
In 2022 the Arts Council agreed to the Touring ExhibiliOlJS Group's (TEGI application to become an Invcstment
Principles Support Organisaiion IIPSO} and we were granted £160,000 of funding annually for three years ivhicli
formally comnieJiLed froin ApTII 2023. This funding has been Iransfornlaiivc for TEG wrh a comniitment to
developing ourselves as a Tesilient. professionally led 5¢Ctor support organisation. This means that TEG will be able io
deliver more training, niore events and have a higher profile In th¢ 5¢Ctor to 511ppon individuals and organisations to
deliver accessible. SUst￿nable, high-quality exhibitions.
Our application had four guiding principles, and the below report outlirtes how in 2023-24, the first full ycar of IPSO
funding, we laid the foundations for delivering on those objecitves, Io¢u5ing primarily on increasing our team tap#¢ity.
developing strategy and preparing the organisation to deliver more".
l. Ambition and QuAlity: To grow our rnembership and demonstrate our relevance through increased Advocgcy
and impact ger0￿ both the Ilk and interngtional sectors
Two in-person Away Day5 lone focused OD Professional Development Strdt¢gy and one on overall Strategy and Vision)
weTe attex)ded by botli Trustees and ihe TEG team in December 2023 and Marcli 2024. We conducted a review of the
professiollal development offer. a membership survey and developed a new Marketing and Conimuni¢ations Strategy.
This work has enabled the team and trustees io Understand the fEG offer better and to understand how it could be
iniproved to meet the needs of niembers and the sector.
To ensure TEG'S capacity is suitable for a larger tumover OTgani5ation. new team m¢mb¢rs were appointed. financial
systeTns and controls were reviewed and adjusted to enable repDrting to Arts Council England and a resource5 audit was
carried out. New roles included TEG'S first Executivt Director, Reyahn King who started in April 2023 and
preparations were n)ad¢ lo appoint a Markeiing Consultant as part of the team who would lead delivery of the new
Markeiing and Communications Strategy.
Meanivliile TEG continued to progre55 a partnership with the Art Fund to support the Going Places progrdmme with
exhibitions training 2nd similarly WOTked with th¢ new MAGNET project to support cohort training in community
engageinent in exhibitions.
A5 part of our advocacy work and to raise the profile of the OTgdnisation, the ream attended cojiferences alld events.
with stands at the Group for Education in Museums IGEMI and the Mu5eum8 + Heritage Show. and TEG
representation li&% included PTC5enlations al th¢ 2023 Museunis COP ai Tate. Arts Coun¢il England Museunj LeadEf5'
Symposium in Bam51ey. alld the launch eveni for the Weston Loan Programrne at Derby Museuni & Art Gallery.
Trustees continiie to pla) an active role in TEG. presentin¥ on sustainable exhibitions at the Museums + Heritage Show,
London and ICOM Exhibiiions IICEEI event, London.
Page11

TOURING EY&HIBITIONS GROUP
REPORTOF THE TRUSTEES
for the Year Ended 31 Mareh 2024
ACHIEVEMENT AND PERFORMANCE (CONTINUED)
Membership has remained static at around 300 for this financial year and one of our PriTnary objectivcs for the next
three years 15 to see a year-on-year increas¢ on that rising 10 450 by the end of our IPSO funding period. Our
fortlicon)ing strategy work will be fo¢u55¢d on identifying and Clarifying tnemb¢r5hip benefits which alofigside aji
improved website and n)2rketing plan, we hope will be key 10 achieving that target.
2. Dynamtsm: Lookitbg #t the need5 of our membership seetor more widely and *djustlDg our provision and
5UPPOrt accordingly) particularly in our professional development offer.
Following the away dzy 2nd professional development review, the Professional Development Manager Created
Professional Developineni Strategy for roll out in 2024-25. The Siraiegy will include four key srraiegic direction5'.
l. Positioning TEG as tlie exhibition sector leader in exlitbilions-related trdining
2. Developing clarity of PUTpose around the iraining strategy
3. Building partnerships to deliver our visio
4. Expanding expertise io diffeTent group5 Wlthin the sector
TEG continued to deliver high quality training to members and tl)e sector witli 95•/y of workshop attendees saying they
would recon)n)¢Jd TEG to colleagues. Tlie Professional Development Manager lias progressed our Inclusivity and
Relevance prÈnciple by implementing Jnore a¢cessibility rnea5ures into workshop and training cvents including TEG
trainers and Speakers stating their PTOllOUn5 and giving a brief visual des¢riplioD when tliey introduce theniselve5',
providing automated closed caption5 snd Enabling BSL interprdaiion on requ¢5t' making workshop recordings
available.
In addition to the TEG prograinme, many workshop5 liave been led 2nd delivered by TEG as pan of th¢ Aft Fund
Going Place5 and MAGNET programmes. TEG also provided Consultancy Service5 to Plus Tate on Sustainable
Exliibitions (in partnersl)ip witli the Design Museum) and to hquseum Development Soutliwesi IMDSWI on Strategic
Interpretation Planning for Engaging Exhibitions.
In April 202) a succ¢55ful TEG Connects event was held al the Maritime Museum. Naiional Museums Liveryool with
104 delegates. Sc5sions included presentations by the Art Fund. People's History Museuiii and The Amelia. Pan¢1
discussions included representatives froTn the MAGNET cohort ineluding the Horniman Museum. Sheffi¢ld Miiseums.
Tullie House Museum & Art Gallery.
3. Envbronmental Responsibility: Driving the thinge towards reduced environmental impAct of touring
exhibit10115 exhibition-m*ktng by providing practical guidante, trgiThing and toolkit5 for orynisgtions.
Arts Council England approached TEG in December 2023 to commTssion a Teport to identify nieaningful actions lo
irnprov¢ the ¢arbon footprillt of exhibition loans. The r¢5¢arch into lever5 to encourage environmentally sustainable
lendin8 and borrowing Plxctices internationally was begun in 2023-24 with an international foriim. interviews and
survey. Interviews and desk rese2rth were ODgoEng into 2024-25 and the report was submitted to Arts Council England
in June 2024. The researclj proje¢t opened up conversations intemationally and TEG'S reputation ben¢fited greatly from
being tommissioned lo do thi5 work. Key partnerships were also put in place this year lo ¢reate a decision-making tool
for More environmentally sustainable touring which will be launched in the Autunin.
Page12

TOIIRING EXHIBITIONS GROUP
REPORT OF THE TRugfEES
ror the Year Ended 31 MAr¢h 2024
ACHIEVEMENT AND PERFORMANCE
4. Inclusivity and Rtlev#nce- ActTvely seek to diversify our membership and especially our TrustÈÈs and
Advisory Committee. Develop and irnplement EDI Polity and Action Plan for TEG which t2n also prowide
#n txample to 5UPPOrt wider settor dTrversity *nd inelusion.
Th¢ current Board meiiibers and team are passionate about the potential for TEG to broaden the appeal of the profession
to a wider representation of society 2nd recn¥ni5e that we need to start with our organisation. We will work 10
diversify the board in our next round of trustee recnlitment (September 20241 and will create two Early Car¢eT Tniste¢
roles by April 2025. EDI training will also be undert2keD by all Exe¢iitiv¢ and Advisoj), Board meTnber5 in Q4 of
2024-25. We have an EDI Tnjstee wlio leads an active EDI working group who meet regularly and we have created an
EDI statement and Mission which Is available on our web51te. Work is in progress to ¢r¢ate an EDI Policv and Action
Plan which will also be in place by the end of the next financial year (April 25).
Looking forward, exciting developrnents for the coming year include rhe final 5-Year Strategy for TEG as well as a new
website and brand identity which wll be launched in the coming monihs to support increased marketing activity-
Trustees have agreed that a shifi in the organisation's naThe to The Exhibitions Grollp better reflects the diversity of
exhibitions support now offered by the ¢haTity. A short pr¢sentation on our new brand and identity will be included as
part of the online AGM on October 7th. Our newly refr¢5h¢d professional developmeni offer will also be launched in
2025.
So mu¢h has been a¢h5eved in our first year of IPSO funding and the journty from a volunteer led io a professionally
led organisation is well under way. Yel there is still a great deal more to do and huge potential for the organisation lo
grow and thrive in the coming years. All of this would not be possible without the invaluable support of the Arts
Council England as well as our partner funders And 5ponsoT5
so lieartfelt thanks for YOUT ongoing faith and trust. We
would also like to thank TEG'S dedicated team of consiiltants, which whtle small and ninible. is the powerhouse behind
what we do. And on behalf of all the trustees and te2m. speci21 thanks to Reyahn King for her dynami¢ ond thoughtful
leadership at this critical time in the organisaiton's develtsprnent. To our fellow trustees and advisory committee
mernbers, thank you for your contit)ued engagement and support which is vital in ¢ontinuing to shape our future
direetion and vitality. And to our valued Tnembcrs, we hope you continue to see the benefits of your ongoittg support for
TEG. Everyrhing we do ts with our members in mind, and we value all your feedback and Ideas. Wc hope that you are
as excited as we are with The curyent and future direction of the organisation.
MirandA Stacey and AIAnna D9vidson
FINAIYCIAL REVIEW
FittincRal position
The Charity geiieraied a SU￿1U$ of £101,99912023 surpllls £2,194) for the period under review.
The Charity rnai%Jtasn5 a very low risk investment policy with thc bulk of its non-fixed assets being held in the form of
bank deposits.
Perform#nte
The financial year 2023124 saw the first round of IPSO fund reaching our accounts, which lead to a notable increose of
our reserves at the end of the flnancial year.
Underspent 4g#iust 4Dticipated activitie5
The consulting leani were not able to deliver in fvll on the OTigEnal ambilious a5piration$ for the year. due to the need to
focus on operational planning such as delivering a new fjnancial system and the need to rc-recruit two consultani
positions. In particular. the new websit¢ and new brand have not been completed in 2023-24. Taken togeth¢r th¢se
dElays. particiilarly in ¢OTnmissioning wtbsite consultanis, have meant an &indtrsp¢nd ag￿n$t Arts Council England's
grant for 2023-24. The trustees have therefore designaied £34,000 of the ￿su[tIng reserves to bc u5¢d in 2024-25 to
support website development and other resear¢h.
Pag¢13

TOURING EXHIBITIOIYS GROUP
REPORT OF THE TRUSTEES
for the Year Ended 31 March 2024
Incregse in traTr'el c05t5
The in¢rease in travel costs (from 2.466 in th¢ ftnancial year ending 31 March 23 to 8.279 this financial yearl reflects
the additional activity by our consultant team to prepare us for delivering against the AC target5. This activity includes
attendance at conferenees, presentations and partner a¢iivilies with MAGNET and Art Fund.
FINAT4CIAL REVIEW
Annual Membership
Annual niembership income Irenewals and new members) a¢TOSS Quarters 1 4 total £22,070 lat 31 March) against a
iargei of £2i.000. We hope tliat with 2024-25 more focused on delivery and less on strategi¢ and operational
ctsrrections. memb¢r5hip will increase closer to targets in 2024-25.
Vear-end p051tion and reserve policy
In view of the health of our unrestricted reserves. the board decided to adjust our reserv¢ poliey to 4 months of running
¢osts. in line with best practite in the sector.
We would like to thank oiir grant fundcrs Arts Council of England and Art Fund {Going Places and Weston Loan
Programrnel for their siipport. our sponsors Constantine and Mommart and our partoers The Design M115eum and
MAGNET.
srRUCTURE, GOVERNANCE AP4D MANAGEMENT
Governtng doeument
The Charity is Controlled by its governing docunient, a deed of tn]st and eonstitutes an unin¢orporaied charity.
The Touring Exhibitions Group is a registered Charity InLimber 11910561. 'All assets, liabilities and operations were
transferred to the Charity incorporated Organisation ICIOI on 28 August 2020
Re¢rnitm¢Dt &ppointmen¢ of new tru5tee5
The charity trustees for the PUTpose5 of cliaTity law and under the company's Articles are known m¢mbers of the
Management CA)mmittee.
All members of the Management Cominittee give their lime voluntarily and received no benefits froni the charity. Any
expenses re¢laimed from the charity are set Out in note 9 to the accounts.
Roles are advertj5ed along with guidanc¢ to apply through the Touring Exhibitions Group'5 newsletter and nehuorks.
The Executive Comniittee members are elected by the membership from its ranks through a ballot at the Annual
Genero1 Meeting.
Organi5ational structure
Tollring Exhibition5 Group has a Management Committee of up io eighie¢n members who rneet quarterl}. and are
respottsible foi. the strategic direaion and policy of ihe ¢harity. In 2023-24 the Management Committee has sixteen
members from a variety of professional ba¢kgrounds relevant to the work of the charity.
Tlie Management Committee consists of seven tnJ5tees (the Executive Board). The trustees appointed an Executive
Director for the first time in 2023 on a consultancy annual contratt. This post now manages the remainFng consultancy
team which includes a Membership Manager, Professional Development Manager. and a Coordinator thar ove5ees the
web51te and adminisiration). TEG'5 work 15 also supported by a volunteer Advisory Board.
Induction and training of new trnstees
All new members of the Management Coinmittee 3re issued an indiiction tnanual to introdiice them to the roles of the
ctsmmitte¢ and ihe work Of the organisaiiort.
Page14

TOLIRING EXHIBITIONS GROUP
REPORT OF THE TRUSTEES
for tht I'tar Ended 31 March 2024
REFERENCE AND ADMINISTRATIVE DETAILS
Registered Chgrity number
1191056
Principal address
Unit 82A James Carter Road
Mildtnhall
Suffolk
IP28 7DE
Trustees
A Davidson (appointed 28 April 20221
M Stacey lappoinied 28 April 2022}
K Morton (resigned 28 August 20241
N Patel
E Daker {known as E Greetjwood legally}
K Lewi5 Iresigntd 30 June 20231
N Coleby (resigned 12 July 20231
J Pa￿lsh (resigned 30 Jun¢ 20231
F Sylvester lappointed 12 July 20231
C Ma¢GÈllivray (appointed 12 July 2023 and resigned 29 January 20241
A Lobb (appointed 12 July 20231
U Smalley (appointed 12 July 20231
E Saggers lappoinied l April 202.1 and resigned 19 August 20241
REFERENCE AND ADMINISTRATIVE DETAII
Jndeptndent Examiner
Peter Georgiadcs BA FCA
Flint & Thompsotj
2 Manor Square
West Midlands
B913PX
Bankers
National Westminster Bank PIC
33 LoTd Strect
Wrexhan)
LLII ILP
Approved by order of the board of twstees on 7 October 2024 and signed its behalf by:
A Davison
Co-chairperson
M Stacey
Co-ch2irperson
Page15

INDEPENDENT EXAMINER'S REPORTTO THE TRUSTEES OF
TOURING EXHIBITIONS GROIIP
Indepe￿dent e%an)iner's report to the trustees of Touring Exhibitions Group
I report to the chai'ity ti'ustees on n)y examtnation of the accounts of Touring Exhibition5 Group Iihe Trusti for the year
ended 31 March 2024.
Responsibilities and basis of report
As ihe ¢harily trust¢e5 of the frust you arc responsible for the prepar*ion of ihe accounts in accordance with the
requireTtLents of the Cliarities Act 2011 I'the Acl'l,
I report in respect of my examination af the Tn]st's actouDt5 Ca￿led out under Section 145 of the Act and in ¢arrying
out my examination I have followed all applicable Directions given by the Charity Commission under Stction 14515llb)
of ihe A¢1.
Independent exarniner's statement
I have completed my cxaminztion. I ci)nfirtn that no inat¢rial matters have come io my attention in ¢onne¢iion with the
exatnination giving me cause io b¢lieve that in any niaterial resp¢ct'.
a¢¢oui)ting re¢ords wer¢ not kept in respecl of the Trust as required by Section 130 of the Act- or
the accounts do not accord with those records. or
the accoun15 do not comply with the 8ppli¢able requirenient5 concerning th¢ forn) and conieni of a¢¢ounts 5¢t
out in the Charities (Accoiints and Reports) Regulation5 2008 other than any requirement that the a¢¢ounts give
a true and fair view Wh￿Ch is Doi a rnalter Lon5id¢red as part of an independent examination.
I have no Concerns and Iiave ctsme across no otlier matters in connection wilh ihe examination to which attention should
be drydwn in this report in order to enable a proper understanding of the accounts to be reached.
Pete
AFCA
Flint & Thompson
2 Manor Square
Wesi Midlands
B913PX
Date..
7...o.cr(foz.....?o.2
Page16

TOURING EXHIBITIONS GROIIP
STATEMENT OF FINANCIAL ACTJVITIES
for the Yegr Ended 31 March 2024
2024
Total
funds
2023
Toial
funds
Unrestricted
f￿nd
RestTl¢ted
funds
Notes
INCOME AND ENDOWMETrrrs FROM
Donations and legacies
34.713
34.713
39,524
Charit2blt activttie$
Professional development
170,350
170.350
Other income
Investmenr income
5,840
763
5.840
763
138
Total
211.666
211,666
39.662
EXPENDITURE ON
Menibership management and sector support
61.409
61,409
15.698
Charitable activities
Professional development
39.979
39.979
19,304
Other
8,279
8,279
2.466
Total
109.667
109,667
37,468
NET INCOME
101.999
101.999
2,194
RECONCILIATION OF FUNDS
Total funds brought forward
31.464
31,464
29,270
TOTAL FUNDS CARRIED FORWARD
133,463
lJ3,463
31.464
Page17

TOIIRING EXHIBITIONS GROIIP
BALANCE SHEET
31 Nlareh 2024
2024
Total
funds
202)
Total
funds
UnrestrEcted
fund
Restriaed
fund5
Notes
CURRENT ASSETS
Debtors
Cash at bank
444
134.i35
444
li4,33S
32,729
134.779
l i4,779
32,729
CREDITORS
Amount5 falling due within one year
11.2651
NET CURRENT ASSETS
13.1.46i
li3,46J
31.464
TOTAL ASSETS LESS CURRENT
LIABILITIES
33,463
l i3.463
il,464
NET ASSETS
133403
l i3,46i
31,464
FUNDS
Un￿sEri¢l¢d funds
13J,463
31.464
TOTAL FVNDS
lJ3,46i
The financial siaren)ents wcre approved by the Board of Trustees and authorised for issue on 7 October 2024 and were
signed on ils behalf by..
A Davison
Co-¢haiTperson
M Stacey
Co-chairperson
The notes fomi part of tliese financial statements
Page18

TOURING EXHIBITIONS GROUP
NOTESTO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024
ACCOIINTING POLICIES
Basis of preparing the fJngn¢i¥l $tatenJents
The financial statements of th¢ charity.. which is a publi¢ benefit ¢ntity under FRS 102, have been preparcd in
accordance with the Cliarities SORP IFRS 1021 'A¢counting alld Reporting by Charitie5.' Stat¢nient of
Recommended Practice applicable to thayities preparing their accounts in a¢¢ordance with tlie Finan¢ial
Reporting Standard applicable in the UK and Republic of Ircland IFRS 1021 leffective l January 2019),.
F5nancial Reporiing Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of
Ireland, and the Charities A¢1 201 l. The finaiicial statements have been prepared under the historical c05t
convention.
Touring Exhibitions Group is a Cljarity inLorporated in England & Wales The naiure of the charity's operations
aiid principal activities are ¢on¢etned with tlie proinotion of cultute.
The financial slatemettts are prepared on a going concem basis under the historical cost convention. modified to
include certain iiems at faiT value. The f)nancial siaieinents ttT¢ presented in 51erling whi¢h 15 the functional
curren¢y of ihe charity and rounded to the nearest £1.
The significant accounting ￿li¢1¢S applied in the preparation of these fina￿claI Statements are ser out below.
These policies have been Consistently applied to 211 years presented unless tstherwise stated.
Intome
All in¢oniing resource5 are included in the SiateTnent of Financial Activities ISoFA} when the charity is legally
entitled to the inconie after any perforni3nLe conditions have been met, Ihe amount can be measured reliably and
it j5 probable thai the incoime will be rcceived.
For donations lo be recogtJi5ed the charity will have been notified of the amoiints and the settlement dare in
wriiing. It" there are conditions attached io th¢ donation at]d this requires a level of performance btfo
¢ntitlem¢nt can be obtained then incom¢ is deferred until those conditions are fully rnet or the fulfilmeni of ihoge
conditions is within the control of th¢ charity and it 15 probable thai they will be fulfilled.
Donated facilities aod donated professional services are re¢ognised in income at their fair value when their
eeonomie benefit is probable. it can be measured reliably and tli¢ charity has control over tlie item. Fair value is
determined on the basis of the value of ihe gift to the charity. For example, the amount the charity would be
willing to pay in the open maTket for such facilities Snd servic¢s. A COJTesponding amount IS Tecognised in
expenditure.
No amount is included in the financial statemenis for volunteer tim¢ in line with the SORP IFRS 1021
Where practicable, gifis in kind donaied for distribution to the beneficiaries of the chaTiry are included in stock
and donations iii the financial statements upon receipt. If it is impracticable to assess the fair value at receipt or
if the Costs to undertake such a valuation outweigh any benefits. then the fair v21ue is recognised as a component
of donations when it is distributed and an equivaltnt arnount Tecognised as chariiable expenditUTe.
Gifts in kind donated for resale aT¢ included at fair vallle, being the expecred proceeds from Sale less the
expected costs of sale. Where estimating the fatr value is practirable upon receipt it is recognised in stock and
'In¢ome fron) other trading activittes. Upon sale, the value of the stock is chaTged against 'lncome from other
trading activities, and the proceeds are re¢ogni5ed as 'lncome from other trading activities. Where it is
impracticable to fair value rhe Item5 due to the volume of low value iieJns they are not re¢ogni5cd in Iht
financial statements until Ihey are sold. Thi5 income is recognised within'lncome fJx)m other trading activities.
Fixed agset gift5 in kind are recognised when receivable and are includ¢d ai fair value. They are not deferred
over the life of the ass¢t.
For legacies. entitlein¢nt is th¢ earlier of the charity being noiifi¢d of an inipending distribution or the lega¢}.
being received. At this point income is r¢¢ogni5ed. On occasion legacies will be notified to the charity however
t 15 not Possible to Ineasure the amouni expected to be distributed. On these occasions. the legacy is treated as a
contingent asset 2nd disc105¢d.
Page19
continued

TOURING EXHIBITIONS GROUP
NOTES TO THE FINANCIAL STATEMENTS- Continued
for the Year Ended 31 MaT¢h 2024
ACCOIINTING POLICIES- Continued
Intorne
Income from trading activit1¢5 includes ineome eamed from fundraising ￿¢￿18 and trading activities to raise
funds for the cbarity. Income is received in exchange for supplying good5 2nd services in order 10 rai5¢ fund5
aiid 15 r¢cognised wlien entitlenient has occurred.
Investment incoine is earned ihrough liolding assets for investnienr puryoses such as sliares and propcrty. It
includes divEdends, Ititerest and rent. Where it is not practicable to identify investrnent management costs
inciirred within a schc￿e with reasonable acciiracy the investnient incoTne is reported net of these cosis. It is
incliided when the amoiint can be Ineasured reliably. Interest incotne is Kcogt]ised using the effectiv¢ inter¢5t
method and dividend and rent income is recoBni5ed as the charity's right to receive paynienl is established.
Other income includes the ¢onversioii of endowment funds irtto intonie wliich aT15e5 whei) capital funds are
released io an income fut)d froni expendable endoivments or ivlien a cliariiy has authority to adopt a total relum
approach lo lis pemanenl endoi¥nient fund. Il also in¢ludes otheT income such as gains on disposals of iangible
fixed assets.
Expenditure
All expenditure is accoiinted for on an accruals basis and has been classified under headings tliat aggregate all
costs related to the category. Expenditurc is reco8nised where there is a legal or constructive obligation io tnake
payments io third part1¢5. it Is probable tliat the settlement will be required and the amount of the obligation can
be rneasured reliably. It Is categorised under ihe following headiiigs=
Costs of rdising funds includes Co-ordiiiator and nieinbership management fEes-
Expcnditure on charitable activities include5 pl￿reSsiOnal development costs
Other expendilllT¢ repre5¢nts those items not falling into ihe caiegoTies above.
Irrecoverable VAT 15 charged as 8n expense against the activity for which expendiiure aTOSe.
Granrs payable to il)ird partie5 are within tl)e charitable objectives. Where unconditional grants are offered. this
is accrued as soon 2$ the re¢ipient 15 notified of tlie grani, 2$ this giveg rise to a reasonable cxpett21ion that the
re¢ipieiJr will receive the grant5. Where Branis are conditional Telating to perfomianLe ihen the grant is only
a¢¢rued ivhen any unfulfilled conditions are outside of Ilie control of the charity.
Support costs allocation
Support ¢ostS #Te t1105e that 8SSESt the work of the charity but do tiot d1￿cl1Y represent ¢haDtable activities and
include office costs, goveriiance costs, and adniinistralivt payroll costs. They are In¢urred d1￿cl1Y in sUPPOrt of
expenditure on the objects of the charity and include project managemeni ¢&rricd out at Headquarters. WheTe
support costs cannot bc diT¢Ctly attribLtted to particular headings they have been allocated to ¢osi of raising
funds and expenditure on charitable activities on a basis COTJSiStellt with use of the resourets.
Fund-raising costs are those incllrred in seeking volut]tary contributions and raising grant funding from public
trusts and funders and do not include the costs of disseminating infortnation in support of the ¢haritable
Taxation
The cliarity 15 exempt from tax on its Charitable activities.
Fund attounting
Unresii'ictcd funds are available for use at the discretion of the trustees in funheran¢e of the general objetliv¢s
of the charity and which have not been designated for other purposes.
Designated funds ¢omprise unrestricted funds thai have been set aside by the trustee$ for particular purposes.
Tli¢ aim and use of each designated fund is sel out in the not¢s to the financial slatenients.
Pagel 10
¢oratinucd

TOIIRING EXHIBITIONS GROiIP
NOTES TO THE FINANCIAL STATEMENTS- eontinued
ror the Year Ended 31 March 2024
ACCOIINTING POLICIES- continued
Fund ¥¢tounting
R¢siri¢ied funds are fund$ which are to be used in aecord3n¢e with specific restriciions imposed by donors or
which have been raised by the Charity for particular purposes. The cost of raisirtg and administering su¢h funds
are cliarged agzinsi the specific fund. llie aim and use of each reslrieted fund is set out in the notes to thc
financial ststeijents.
Going eonrer
The financial statejnents have been prep&red on a going conccrn basis as the trLlStees believe that no material
uncertaintics exist. The trtistees have considered Ihe levcl of funds held and the expected level of in¢onie and
expendilllre for 12 month5 froni autliorising these financial statenients. The budgeted income and expenditurc is
su￿1clent wTrtli tlie level of reserves for il)e charil). to be able to continue as a goin8 concern.
OTHER INCOME
2024
2023
TEG Conn¢cts iicket sales
INVESTMENf INCOME
2024
2023
Interest receivable- trading
763
138
TRUSTEES, REMUNERATION AND BENEFITS
There were no iruste¢5' remuneration or oiher b¢nefLts for the year ended 31 March 2024 nor for the year ended
31 Mar¢li 2023.
Tru5tee5' expense5
During the Current yeai.. there were £673 of inistee expense incurred in the chaTltable 2Ctivilies for Secrelariai
traw¢l expenses
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIN'ITIES
Unrestricied
fund
Restrtcted
funds
Total
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
39.524
Investm¢ni income
138
138
Total
39,662
39.662
EXPENDITURE ON
Menibersliip management and sector support
15,698
15,698
Charitable #ttivitie5
Professional development
19.304
19.304
Other
2.466
2,466
Totgl
37.468
37.468
Page | 11

TOURING EXHIBITIONS GROUP
NOTES TO THE FINANCIAL STATEMENTS-continued
for the Year Ended 31 Marth 2024
COMPARATIVES FOR THE sfATEMENT OF FINANCIAL ACTIVITIES- continued
Unrestricted
Restricted
fund
fiinds
Total
funds
NET INCOME
2,194
2,194
RECONCILIATION OF FUNDS
Total fiinds broughi forward
29,270
29.270
TOTAL FUNDS CARRIED FORIVAIU)
il.464
31.464
DEBTORS: AMOIINTS FALLING DUE WITHIN ONE YEAR
2024
2023
Prepayment5 and accrued inconie
444
CREDITORS: AMOUNTS FALLING DIIE WITHIN ONE YEAR
2024
2023
Trade creditors
Other crediiors
1.315
1.265
316
1.265
MOVEMENT IN FUNDS
Nct
niovetnent
in funds
At
31.3.24
At 1.4.23
Ilnrestricted fusbds
Gencral fund
31.464
101.999
133.463
TOTAL FUP4DS
il.464
01.999
133,463
Net moverncnt in funds. included in the above are as follows..
Incoman8
resources
Resources
expended
Movement
in funds
Unrestricted funds
General fund
211,666
1109,6671
101,999
TOTAL FUNDS
211.666
109,6671
101.999
Pagel 12
continyed...

TOURING EXHIBITIONS GROUP
NOTES TO THE FINANCIAL STATEMENTS- tontihued
for the I'egr Ended 31 March 2024
MOVEMENT IN FIINDS- continued
Cornparatives for rnovement in fwnd5
Net
movernent
in funds
Al
31.i.23
At 1.4.22
Unrestricted funds
General fund
29.270
2,194
31.464
TOTAL FUN'DS
2,194
31,464
Comparative net Inovemenl in fund5. iiicluded in the above are a5 follows..
Incoming
resources
Rcsources
txpended
Mov¢fflent
in funds
Unrestricted funds
General fund
39,662
li7,468)
2,194
TOTAL FUNDS
137,468}
A ¢urrent year 12 Inonihs and prEor year 12 months combined position 15 as follows..
Net
n)oven)ent
in funds
At
31.3.24
At 1.4.22
Unre5trieted funds
General fvnd
29.270
104,193
133.463
TOTAL FIINDS
29.270
104,19)
133.463
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are
as follows=
Incoming
resources
ResoLirces
expended
Movement
in funds
Unrestricted funds
General fund
251.328
1147,1351
104,193
TOTAL FUNDS
251.328
1147,1351
104.193
Pagel 13
Continued...

TOURING EXHIBITIONS GROUP
NOTES TO THE FINANCIAL STATEMENTS-continued
for the Year Ended 31 March 2024
RELATED PARTY DISCLOSIIRES
There were no related party transaction5 for the year ended 31 March 2024 oor for the year ended 31 March
2023.
Pagel 14

TOIIRING EXHIBITIONS GROUP
DETAILED STATEf¥iENT OF FINANCIAL ACTIVITIES
for the Year Ended 31 M•reh 2024
2024
2023
INCOME AND ENDOWMENTS
DonatlOlJS gnd legacie5
Membership subscripiion$ Ordinary
Mcn)beTship subscriptions Corporate
Meii)b¢T5hip subscriptioiis- Ordinary new
Membership Subscripiions- Corporate new
Menibership subs¢TjPtions Volunteer
Membership Slibscriptions volunteer new
Education Tneinbers
DoJ)aied services ajid f•tilitie5
Professional developtnent
Art fund
Bespoke training
Sponsorship niarketplace
Education members- new
12.885
i.189
12,97i
2.715
3.978
1.273
720
540
105
4,854
3.861
3.207
1.908
3.390
640
660
840
4.780
5.135
2.000
750
90
34.713
39.524
Other in¢ome
TEG Connects ticket sales
5.840
Investment intome
Interest receivabl¢- trading
763
138
ChArit2ble aetii'ities
Arts ¢oiincil orani
Research grant
Weston 108n progranime
Art fund
160.000
2,000
350
8,000
170,350
Total incoming resources
211,666
39,662
EXPENDITURE
Mernbership mAnagement and seetor support
Jn5llTance
Co-ordinator fees
Membership manager
Executive Oirector
Website manager
456
11.847
10.029
36,197
2.880
423
6.300
6.300
61.409
15,698
Charitable gttivities
Professional dev¢lopin¢nt workshops
Bespoke training
Carried forward
2.500
i29
2.829
i.ooo
2,000
Page | 15

TOURING EXHIBITIONS GROIIP
DETAILED STATEMENT OP FINAIYCIAL ACTIVITIES
for the Year Ended 31 Mareh 2024
2024
2023
Charitable Activities
Brought forward
Website maintenance
Web-slte hosiing
Other website c05t5
N4arketing promorion
Meinbersliip design
E-neiv51etter layout and postings
E-newsletter graphics
Marketplace other costs
Consultancy fees
Subscriptions- Quickbooks
WoTkshops
Evaluation
Markctplace catering
Research project nianager
Res¢ar¢h secretary support day
Secretariat Liplift
Art fiind consultattty
Weston loan consultancy
Market strategy consultan¢y
Finance consultancy
Research consultancy
Trainiiig in person
Training- specialisi speakers
Subscriptions- survey Jnonkey
SubscriptlOD5- microsoft one
Svbs¢riptions- dropbox
Art fund event cost$
Art fund travel
Weston loan- travel
Professional devclopineni manager fees
2,000
1,296
209
2.829
42
492
1,350
168
197
440
319
1,808
27
25
218
1.000
3.000
724
825
3,125
250
7,408
1,300
388
1.250
750
218
1,400
48
705
367
35
12.721
8,800
39.979
19.304
Support costs
Governante tosts
Sundries
Accountancy and legal fees
Travel- awaydays
rrnvel expenses- se¢TetaTiat
Travel expenses- ¢tsnferences
Staff travel budget
Travel marketplace
472
1,274
1,818
2,548
228
35
1,904
1.308
8,279
2.466
Total resources expended
109,667
37,468
Net income
101,999
2,194
This page does not form part of the statutory financial si3iements
Page116