REGISTERED CHARITY NUMBER: 1191056
REPORT OF THE TRUSTEES AND
IINAUDITED FINANCIALSTATEMENTS FOR THE YEAR ENDED 31 MARCH 2025
FOR
TOURING EXHIBITIONS GROUP
THE EXHIBITIOP4S CROUP
Flint & Thompson
2 Manor Square
Solihull
West Midlands
B91 3PX

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
Page
Report of the Tru$te¢s
Independent Ex#miner's Report
StAtemeDt of Finan¢iAI Aotivities
Bal*n¢e Sheet
io
r4otes to the Financial Ststements
Detailed St#tement of Fxn¥nei#l Activities
18 to 20

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 202$
The irnstees present their report with the fJnan¢ial 5tstemenrs of the charity for the year ended 31 March 2025. The
Iru5tee5 have adopted the provisions of Accounting and Reporting by Chariti¢5.' Statemeni of Recommended Practice
applicable to charities preparing their accounts in accordance with rhe Financial R¢porting Standard applicable in th¢
UK and Republic of Ireland IFRS 1021 (effective l January 20191.
OBJECTIVES AND AcfIviTIES
Chgrit%ble activitTes
The objectives of the Charity are to promote art culturc and science for the benefjt of the public by supporting research,
promotit)g best practice, delivering training and facilitating a network of providers a￿d recipieois of touring and
partnership exhibitions in mu5cums. galleries. heritage and other sitcs aLr055 the United Kingdon).
Public benefit
The tTUStees are mindful of the Charity Commissitsn Guideline on piiblic benefrt.
Page I

TOURIP4G EXHIBITIONS GROIIP
THE EXHIBITIONS GROIIP
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 202S
ACHIEVEMENTS AND PERFORMANCE
Co-chairs Report.. 2025 Activities
Co-chairs Report
The Touring Exhibitions Group ITEGI has completed its second year as an Investment Principles Siipport OTganisation
IIPSO) and as a recipient of a multi-year fiinding grant with Arts Coun¢il England, which has eDabled a Silbstantial
increas¢ in our activity and overall ambition. This funding has been transformative, supporting our ambition to develop
a5 a resilient, professionally led sector support organi5ation. In 2024-25, we announced a new brand identity, The
Exhib2tions Group, at the AGM on Monday 7 October 2024. We also made key financial and operational
in)provements, including back-of-house work on a new website with its final launch taking place in 2025-26.
The work which has taken pla¢e in 2024-25 wtll enable u5 to raise our profile in the sectOT which in turn will support
individuals and organisation5 to deliver accessible, sustainable, high-qua]ity exhibitions. TEG has continued to benefit
frorn its role as 2 IraIning partner on Going Plate5 for thc second year mnning, £ project fiinded by the National Lottery
Heritage Fund ond managed by Art Fund. In 2024-25 TEG becarne a formal partner the Development Phase and we
are now a fomial partner in the DelivEry Pliase 2025-30. We have also continued to work as a partner with the
Museums and Galleries Network foT Exhibition Touring (MAGNET). funded by Arts Council England and Art Fund.
botli of which have brought intonie and opportunities for a¢tivity.
TEG has increased its ¢tsnsulting team, welcoming Sue Lea as Admintstrator and Rachel Auty as our first Marketing
Consultant.
Following a Strategy Away Day, in January 2025, Trusiees and the consulting tearn developed and agreed a new vision
and mission statement. This was developed through an iterative. collaborative proc¢s5 and informed by previous
onsultation carried out with both members and non-meJnber5.
Vision..
We are the homc of exhibition practice.
Mission..
We connect and empower everyone in exhibitions to create r¢levartL Sustainable, diverse and accessible exhibitions.
To underpin and guide our work. we developed five values, supported by a Values Statemcllt=
We are Inclusive, Generous. Collaboraiivt, AmbitlOU5 and Responsible.
Alonggide this work, our new brand identity was 8nDoun¢ed, d¢5igned by Jsle Studio. It has proven to be very effective
in raisin8 the profile of the ¢harEty. It will be implem¢nt¢d fvlly with the roll out of our new website in 2025-26.
TEG also confimied the operations of Board of Trustees and Advisory GTOUP. Clarifying the governance framework and
tmplemenling governance trasning for Tru5tEes. At the AGM in October 2024, we welcomed six new Advisory Group
members ond fivc new Trustees.
TEG Connects 2024
Oiir annual netWork￿g and knowledge exchange event took place ai Coventy Transport Museum on 17 April 2024.
The event attracted 116 delegates and featured stands from 16 organis2tions, as well as keynote speakers Caro Howell
from Imperial War Museum and Margutrite Nugent. CV Life. The event tame in otj budget and w?s well received with
86D/o sarisfattion froTll delegates. We are graieful to Constaniine and Momart for their sponsorship both of the event
itself and our buTsaries scheme. which enablcd wider pariicipaiiorj to attend the event.
Arts CouDcal England Investment Prin¢ipl¢s
Page 2

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
REPORT OF THE TRusfEES
FOR THE YEAR ENDED 31 MARCH 2025
TEG'S Arts Council England IPSO application had four guiding principles. In 2024-25. the 5¢cond year of IPSO
funding. we contitjued to develop our Strategy, beginning to deliver more activity. This in¢luded a new Profc5sional
Ikvelopment Strategy to guide the next few years and an expanded programme of learning and events activillC5.
New course5 and events in¢liided a GJS webinaT in collaboration with Arts Council England.. and new training courses
such as Courier Traioing and Communit). Engagement for Exhibition Making. Key to this strategy is an aspiFation to
reach wider audiences whilst staying relevant to the exhibitions sector. For the Le9Thing strand. we continue to deliver
tTaining sessions in exhibition skills. A new Events strand introduced H¢w forniats such as webinars wirh thought
leadcrs.
Our parthership wEth Art Fund to deliver Going Places has generated visible in)pa¢t. including WOTkshop5. training
sessions. cohort meetjn8s. reSOUTce5 and a skills audit to support the partnership. In addition, our rontinuing partnership
wilh the fvL4GNET Network is siipporting Inu5eums to think hard about how they Produce exhibitions that are inclusive
of their communities.
Ambition and Quality
TEG ¢ompleted a significant piece of rese2T¢h for an Arts Coun¢il England commissioned report on the carbon impa¢¢
of inieTnAtional lending and borniwing. While originally produced for Arts Council England's internal use. a public
version has since been Tnade available. This research was presented at the NIUSCON conferen¢c in London, the ICOM
ICEE conference in Estonia atsd ai a Conscrvation scienc¢ seminar in Poland and is now available on our website.
TEG ¢ontinued to be very aclive &ttending ¢onferences and events io m￿lmiSe profile. These included thc M&H Show
at Loodon Olynipis and GEM'S annual conference in Bristol.
OUT Learning and Event5 programme lex¢luding TEG Connects) pcrfornied strongly reaching 316 participants against a
target of125, 235 /D of the partieipation target.
The free 40th Anniversary Sector Thought Leader Webinar chaired by our Execuiive Director in February generated a
lot of interest Wlth 97 people attending. We would like to thank our presenters, indep¢ndent C￿ratOr, art historian and
broadcaster, and form¢r Exhibitions Groiip Chair 12000-031: Kathleen Soriano,. Man2ging Director at MarshTnallow
Laser Feast. Nell Whitley,. and Carolin¢ Grewar, Director of Programme at V&A Dut)dee.
Dynamism
TEG strengthened its op¢r8tion5 by adopiiDg a new accounting system, switching bank accouots and developed a
Financial Controls Policy to ensure robusi financial management.
Our marketing has developed, with the introduction of targeted email marketing campaigns ￿ well as our monthly
newsletter5 Wlth siibscribers growing. Instagram account was launched, and our Linkedln page continuc5 to attract
followers and engagement.
Environmental Respoiisibility
In paTtneTship with the Design Museum and ATt Fund. TEG developed the Rethinking Touring Exhibitions Tool. This is
significant piece of work and resource to gUPPOrt the secior in building more 5U5tsinable pra¢iices. We also launched
the Environmental Responsibility Hub on TEG website wÈth additional resouTC¢S.
This year marked the first tirn¢ that TEG repDrted in full on its environmental impact. pmviding a report to Julie's
Bicycle for 2023-24.
Inelusion and Relevance
TEG successfully recruited to both the Advisory Group and Board of Trustees from a more diverse pool of candidates.
welcoming I I new individuals.
Page 3

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 202$
For ihe Second year running, we offered a bllrsary schenie lo early career or underrepresented people to attend TEG
Conne¢t5 in Coventry. Five people were 2ble to take up this offer, and we would like lo exiend our thanks to Momart
and Constantine for funding the bursaries.
We continued to improve the occessibility of our training sessions, with the Professional Developtneni Nlanager
allowing for the provision of live captions and oih¢r tneasures, such as Ac¢ess Iknders for speakers.
We appointed Birds of Paradise to provide EDI training for the consulting ttaTn and Trustees, and Direct Aceess to
support the EDI Working Group in developing an EDI Action Plan.
A special online event 'ln Conversation about ExhibTtions' was held with Mikei Hall. Anits Sheth and Reyalin King for
the Museum Detox cohort. offering an insight into careers in exhibitions.
All of this would not b¢ possible withoLlt the tnvaluable support of the Arts Coiincil England, together with our parther
funders and sponsors. We would also like to Wa￿1}. thank TEG'S deditated team of consuliants. Ann, D2na, Ra¢hel,
Reyahn and Sue whose work underpins everything we do. To our fellow Trustees and Advi50ry Groiip, thank you for
your ongoing ¢ornmitment and support which is vital ill shaping our future strategy and development. Our particular
thanks go to our new Trustees and Advisory Group members who h&ve already made a strong impact in helping to
shape the organisation.
Above all, we are gratefyl to the wider exhibilion5 community for the joy of sharing expertise and knowledge. and
especially to our members. Ivhose investtn¢nt in their own PTofEssional developmeni and in the sector as a whole.
make$ oiir WOTk and the networks we enable possible.
Miranda Stacey and Alanna Davidson. Co-chairs.
Page 4

TOURING EXHIBITJONS CROUP
THE EXHIBITIOIYS GROIIP
REPORT OF THE TRugrEES
FOR THE YEAR ENDED31 MARCH 202$
FINANCIAL REVIEW
Financial positton
The Charity generated a nioderate surplus of £21.998 (2024- £101.999} for ih¢ period under review.
The charity maintain5 a very loiv risk investrnent policy with the bulk of its non-fjxed assets held itE back deposits.
Year-end position and reserves policy
The Exhibition Group finishes the 2024125 financial year with healthy reserves of £155.46]. TEG reseTV¢ policy
requSTes a minimum of4 Entsnths of expenditure lequivalent to £78,800).
The trustees had designated £34,000 of reserves to be used in 2024-25 10 support website development and research.
Both of these projects began in 2024-25 but WCTe not yet completed a5 hopcd at end of financial year. The remainiog
sums were therefore designaied for use in 2025-26 on these same projects.
The Board ha5 agreed a defjcii budget in 2025-26 to allow for Teducing reserves whilst in¢re85ing activity.
Perfonnance
The financial year 2024125 saw TEG complete its 5¢cond year of a multi-year funding grant with Arts Council England,
and an asso¢iated substant121 increase in a¢tivity and related intome and expenditure.
JNCOME
At the end of the financial period bank dep05Ets amounted to £155.46] 12024 - £134.3351. TEG total in¢om¢ from
funding. pr(>fe5sional development. membership and oth¢T activities in the year amounted to £239,237 which constitutes
an increase fiDm ihe £211,666 achieved tn financial year 202Jf24.
Annual Membership
Annual membership income (renewals and new members} tota15 £24,461131 March) against a tsrgel of £23,000.
Membership is a Itttle down on last year at 263 from 300. We hope that ihe la￿nch of our new website and refreshed
membership offer in 25126, alon85ide a membership marketing drive will substantially increase subs¢Fiptions next year.
Professional dcvelopment
Oiir income from professional development income underperfornied against biidget Wlth an income of £3,556 (budget-
£6,500).
Other income
TEG Connects perfomied better than anticipated generating £7,318 through an in¢rea5e of income from donations.
sponsorship. bank interest. and other funding IMAGNET and Going Pla¢¢sl.
EXPENDITURE
The charity's total expendiiure in 2024-25 was £217,239 12023-24 £109,667) spent on sector 5UPPOrt. m¢rnb¢rship
management and professional development a¢tiviiies including learning and ever)ts. There was a moderate underspend
against budget in expenditure for 2024125, outwcighing any additional ¢0S1s and loss of tncome.
Other costs amounting to £1,611 & £2,000 relate to TEG governance activities. Going forward Governattce costs will
be captured in a new cost Category in the 2025126 budget.
Financial oversight
The change of bank ac¢ounts initiated in the previous financial year has been completed and the accounting software
{Xero} embedded. A5 a safeguard. The Exhibiiions Group maintains h¥0 separate bank accounts where one is a savings
a¢¢ounl.
The F&R committee presented th¢ final drafts of the Financial Controls Policy and ihe Expenses Poli¢y to ihe board.
Thes¢ were signed off at the June 2025 board meeting.
Page 5

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
REPORT OFTHE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 202$
Ulrike Smalley, Treasurer
STRUCTURE, GOVERIYANCE AND MANAGEMENT
Governing document
The charity is controlled by its governing document, a deed of trust and constitutes an unincoTrorai¢d charity.
The Touring Exhibitions Group is a registered Charity {number 1191Q56). All a55ets, liabilities and operations were
transferred to the incorporated Charity on 28 August 2020.
Recruitment and appointment of new trustees
The ¢harity trustees for the purposes of charity law and IindeT the company's Articlcs are known members of the
Management Committe¢.
All members of the Management Comniittee give their tim¢ voluntarily and received no benefits fron) the charity. At)y
expenses reclaimed from the charity are set oui in note 9 to the accounts.
Roles aTe advertised along with guidance to apply through the Touring Bxhibitions Group's newsletter and nettvorks.
Th¢ Exccutive Committee members are elected by the meTnbership from its ranks through a ballot at the AnJ)ual
General Meeting.
Organisational strncture
Touring Exhibition5 Group has a Management Comniittee of up to eighteen membeTS who meet quarterly and are
responsible for the sirategi¢ direction and policy of the charity. In 2023-24 the Management Comtnittce has sixteen
members from a variety of professional backgrounds relevant to the work of the Charity.
The Management Co]nmittee consists of seven trystees (the Executive Boy￿1. The trustecs appointed an Executive
Dirtcior for the first time in 2023 on a consulian¢y annual contraci. This post now manage5 the remaining consultancy
teaTn which includes a Membership Manager, Professional Development Manager, and a Coordinator that ovesees the
w¢b5ltt and administration). TEG'S work is a]so 5UPPOrted by a voluntttr Advisory Board.
Induction and training of new trnstee5
All new mernbers of the Manag¢Tnent Committee are issued an induction manual to introduce them to the roles of the
¢ommittee and the work of the organisation.
REFERENCE AND ADMINISTRA TJVE DETAILS
Registtred Charity number
1191056
Principal address
Ulllt 82A James Carter Road
Mildenhall
Suffolk
IP28 7DE
Page 6

TOURING EXHIBITIONS GROUP
THE EXHJBITIONS GROUP
REPORT OF THE TRUSTEES
FOR THE YEAR ENDED 31 MARCH 2025
Tru5tee5
K Morton (resigned 7110124)
E Daker
F Sylvester
C MacGtllivray (resigned 7110124)
A Lobb
U Smalley
A Davidson
M Stacey
E S2gg¢rs (resigned 7110124)
M Lowe (appointed 71I0124}
J Johnston (appointed 71101241
B CTonk-Moore (appointed 7110124)
C RaMk￿8w8rt (appointed 7110r24}
M Ragan {appointed 7110124)
P Diment (appointed 7110124)
Independent Exgminer
Peter Haughton FCCA MAAT
Flint & Thotnpson
2 Manor Square
Solihull
West Midland5
B913PX
Bgnker8
N2tional Westtnin5ter Bank Pl¢
33 Lord Streel
Wrexham
LLII ILP
Approved by order of the board of tjustees on 13 October 2025 and signed on its behalf by..
A Davison
Co-chairper50n
M Stacey
Cow¢hairperson
Page 7

INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF
TOURING EXHIBITIONS GROUP
Independent examiner's report to the tru5tee5 of Touring Exhibition5 Croup
l ￿pOrt to the charity irllsiees OD my examination of the 2ccounts of Touring Exhibitions Group Ithe Trust) for the veaT
ended 31 March 2025.
Responsibilities 8Dd basi5 of report
As the charity tTUStee5 of the Tnjsl you are responsible for the pr¢paration of the accounis in accordance with the
Tequirement5 of the Charities Act 2011 I'the Act'l.
I report in respect of my exainination of the Trust's a¢rounts carried out under Section 145 of the Aet and in carrying
out n)y examination I have followcd all applicable Dire¢tions given by the Charity Com5ni55ion under Section 145151{b)
of the Act.
Jhdependent examiner 5 StAtement
I have completed my examination. l ¢onfiTm that no inaterial maners have corne to my attention in connection with the
exatnination giving me ¢ause kn belieY£ that in any material respect..
aecounling records were not kept in respe¢1 of the Trust &s required by Se¢tion 130 ofthe Act.. OT
the a¢¢ount5 do not accord with tho%e records. or
the account5 do not comply with the applicable requirements con¢eTyJing the form and ¢ontent of accounts set
out in the Charities (Accounts and Reports) Regulations 2008 othcr than any requirement that the accounts give
a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns end have come across no other matterg in ¢onn¢ction with the examination to which attention Should
be drawn in ihi5 r¢port in order to enable a PToper understanding of the actoJnis to be reached.
P. HoA@L
Peter Haiighton FCCA MAAT
Flint & Thompsort
2 Manor Square
Solihull
West Midlands
B91 3PX
Date..
13 ocroSÉi zo75
Page 8

TOURING EXHIBITIONS GROIIP
THE EXHIBITIONS GROIJP
STATEMEIYT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2025
Total
funds
2024
TotAI
funds
Unrestricted
fund
Restricted
funds
Note5
INCOME AND ENDOWMENTS FROM
Donaiions and legaci¢s
62.213
62,213
34,713
Charttable activities
Professional development
168,000
168,000
170,350
Other intomc
Investment inconie
7J18
1.706
7,318
,706
5.840
763
Total
239,237
239 237
211.666
EXPENDITURE ON
Membership managenient and sect or support
87,559
87A59
61,409
Ch*rit*ble activities
ProfESSioJal development
118.167
118.167
39.979
Other
11,513
8279
Total
217.239
217239
109.667
NET INCOME
21.998
21,998
101.999
RECONCILIATION OF FUNDS
roial fund5 bTought forward
133,463
133.463
31,464
TOTAL FUNDS CARRIED FORWARD
155,461
155461
133463
The notes form part of these financial statemenis
Pa8e 9

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS CROUP
BALANCE SHEET
31 MARCH 2025
2025
Total
funds
2024
Total
funds
Unre8tri¢ted
fund
Restricted
funds
Notes
CURRENT ASSETS
Debtor5
Cash at bank
7,391
155.356
7J91
155.356
444
134.335
162,747
162,747
134,779
CREDITORS
Amounts falling due within on¢ year
(7,286)
(7.286)
(1.316)
NET CURRENT ASSETS
155.461
155 46]
TOTAL ASSETS LESS CURRENT
LIABILITIES
155,461
155,461
133,463
NET ASSETS
155.461
155 461
133463
FUNDS
Unrestricted funds
J55 461
133 463
TOTAL FUNDS
155.461
133.463
The fingJLcia] statements were approved by the Board of Trustees and authorised for i5511e on
. o.¢r.*.l....i￿￿....... and were signed on its behalf by..
Trustee
The notes forni part of thes¢ financial ststements
Page 10

TOURING EXHIBJTIONS GROUP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES
B25is of preparing the finantial stAtement5
The financial Statements of the ¢harity. which is a publi¢ benefit cntity under FRS 102. have been prepared in
accordance with the Charities SORP IFRS 102} 'Accounting and Reporting by Charities-. Statement of
Recoinmended Pra¢tice applicable to charilies preparing Ihtir accoiints in accordance with the Financial
Reportsng Standard applicable in the UK and Republic of Ireland IFRS 1021 leffective l January 20191.,
Financial Reportirig Siandard 102 'The Financial Reporting Si8ndard applicablc in the UK and Republic of
Ireland, and the Charities Act 2011. The financial statements have been prepared under tlie historical Lost
¢onveniion.
Touring Exhibitions Group is a Charity incoryoraied in England & Wales The nature of the charity's operations
and principal acitvitie5 are concerned with the PToinotion of culture.
The fJnan¢ial statemcn15 are prepared on a going concem basts undeT the historical Cost convention, modified to
in¢lude certain items at fair value. The financial staiement5 are presented in sterling which is the fun¢iional
currency of the charity and rounded to the neare￿ £1.
The significant accounting policies applied in the preparation of these financial statements are sei out bclow.
These policies have b¢ell consistently applied to all years presented unless otherwise stated.
In¢ome
All incorning resources are included in the Statement of Financial Activities ISOFAI when the ¢harity is legally
entitled io the income after any perfomiance conditions have been met, the amount can be measured reliably and
it l5 probable that the in¢ome will be received.
For donations to bc recognised the tharity will have been notified of the amounts and the settlement date i
writing. If th¢r¢ are conditions aitach¢d to the donaiion and tliis requires a level of perfomiance before
entitl¢rn¢nt can be obtained tlien income is deferred unlil those conditsons are fully met or the fulfiltt)ent of those
¢onditiOlls is within the ¢ontrol ofthe charity and it l5 probable that they will be fulfilled.
Donated facilitie5 and donated professional services are re¢ognised in income at thes1 fair value when their
e¢onomi¢ benefit is probable, it be measur¢d reliably and the charity has control ovcr the item. Fair value is
d¢t¢rtnined on the basis of the valu¢ of the gift to the charity. For example, the atnounl the charity would be
willing to pay in the open market for such facilities and services. A corresponding amount is recognised til
cxpenditure.
No omount is included in th¢ financial statements for volunteertim¢ in line with the SORP IFRS 1021
Where prdcticable, gifts in kind donated for distribution to the benefjeiaries of the charity are included in 5toek
and donations in the financial statements uport re¢¢ipt. If it is imprdcti¢able to assess the fair value at receipt or
if the costs 10 undertake such a valuation outweigh any benefits, Ihert the fair value Is recogni5ed as a component
of donaiions when it is distributed and an equivalent 2mount re￿gniSed a5 charitable expenditure.
Gifts in kind donated for resale are included at fa2r value. being the expected proceeds from sale Ic55 the
expected costs of sale. Where estimating th¢ fair value is practicèble upon receipt it is re¢ognis¢d in stock and
'Income fron) other trading activities. Upon sale, the valiie of the stock i5 charged against 'lncome from other
troding activities, and the proceeds are recognised as 'ln¢om¢ frotn other traditjg activities. Wher¢ it 15
irnpracticable to fair value the items due to ihe volume of low value items they are not recogni5ed in the
financial statemenis unlil they are sold. This income is recognised within 'ln¢ome from other trading activities.
Fixed asset gift5 in kind are rerognised whcn receivable and are included at fair value. They are not defe￿ed
over the life of the asset.
Pagell

TOURING EXHIBITIONS GROIIP
THE EXHIBITIONS GROIIP
P40TES TO THE FJNANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUIYTING POLICIES- continued
Ineome
For legacies, entitlement is rhe ¢arli¢r of the tharity being noiified of an impending dtstribution or the lega¢y
being received. At this point income is retogni5ed. On occasion legacies will be notifjed io the charlty however
it is not POS5ible to measure the arnount expected to be distributed. On these occasions. the legacy is treated as a
contingent a5S¢t and dis¢los¢d.
In¢onie from trading activities inelude5 inconie earned from fundraising events and trading acrivitics to raise
funds for the charity. Income is received in ex¢hange for supplying goods and services in order to rdise funds
and is recognised when entitlement has oecuffed.
Invesrment income is earned through holding assets for investment purposes siich as sho￿5 and property. It
In¢liides dividends, int¢r¢st and rent. Where it is noi practicable to identify investment managem¢nt costs
incurred within a scheme with reasonable aceiiraey the investment income is reported net of tliese costs. It is
sncluded when the amount can be tneasured reliably. Interest incorn¢ is recognised using the effective interest
method and dividend and rent income is recogtlised as the charity's right to receive payment is established.
Other income includes the Conversion of endowment fi]nds into incon)e which arises wheii capital fi]nds are
released to an income fund from expendablc endowments or ivlien a charity has auihority to adopt a total return
appToach to its peTmanent endowJnent fund. It Also includes other income such a5 gains on disposals of
tangible fixed assets.
Expenditure
All e.xpenditur¢ is aecounred for on an 2CLruals basis and has been classifjed under headiRg5 that aggregate all
¢o$is related to the category. Expenditure 15 recognised wh¢r¢ there is a legal or constructive obligarion to make
payment5 to third partl¢S. It is probable tliat the settleTnent iv511 be required and the aTnount of the obligation can
be measured reliably. It IS C2tegorised under the following headings..
Costs of raising funds in¢lude5 Co-ordinaior and membership management fe¢5.'
Expenditiire on charitable activities in¢ludes professional development costs
Other expet)diture represents those item5 not failing into the categories above.
Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.
Grants payable to third parties Rre within the charitable objeciives. Where uD¢onditional grants are offered. this
is ac¢Tu¢d as soon as th¢ recipient is notsfied of the grant, as this gives rise to a reasonabl¢ expectaiion that the
recipient will re¢¢ive the grants. Where grants are conditional relating to performance then the grant is only
accrued when any iinfulfilled conditions are outside of the control of th¢ charity.
Support costs allocation
Support costs are those that assist the work of the chsrity but do Dot directly represent charitable activities and
include office costs. governance costs, and administrative payroll ¢osts. They incurred directly in support of
expenditure on the objects of the charity and include projcGt nianagemeni carried oui at Headquarters. Where
support costs cannot be directly attributed to panicular headin8S they hove been allocated to cost of raising
funds and expenditure on Ch￿itable activities on a basi5 consistent with use of the resources.
Fund-raising Costs are those incurred in seeking voliintary ¢ontributions and raising grant funding from public
trusts and funders and do not Enclude the costs of disseininating infonnation in support of the charitable
TaxAtio
The ¢harity is exempt from lax on its charitable activities.
Page 12

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS- oontinued
FOR THE YEAR ENDED 31 MARCH 2025
ACCOUNTING POLICIES- continued
Fund 2CCOllllting
Unrestrict¢d funds are available for use at the discretion of the ttustees in furtherdnce of the genera] objectives
of the charity and which hav¢ not been designated for otheT purposes.
Desigllat¢d funds comprise unrc5tricted futjds that have been set aside by the tTUStee5 for particular purposes.
Th¢ aim and use of each dE5ignated fund is set out in the notes to the financial statements.
Restricted fuDds are funds which are to be used it) accordance ivith specific restrictions imposed by donors or
whi¢h have been raised by the ¢harity for particular purposes. The ¢ost of raising and adTninistering such funds
are charged against th¢ specifjc fund. The ainj and use of each T¢stricted fund is set out in the notes to the
financial statements.
Golng contern
The finan¢ial staternents have been prepared on a going concern basis as th¢ trustees believe that no material
un¢ertaintie5 exist. The trustees have considered the level of funds held and the expe¢ied level of income and
expenditurt for 12 months from authorising these financial siaiernenls. The budgeted in¢om¢ and expenditure is
sufficient with the level of reserves for the charity to be able to continue as a going Gon¢ern.
OTHER INCOME
2025
2024
TEG ContL¢cts ticket S81¢s
INVESTMENT INCOME
2025
2024
Interest re¢eivable- trdding
763
TRUSTEES, REMUNERATION AND BENEFITS
There were no tru5t¢e5' remuneration or other benefits for the year ¢Dded i l March 2025 nor for the yeaT ended
31 Mar¢h 2024.
Trustees, expenses
There were no
31 March 2024.
tru5t¢e5' expenses paid for the year ended 31 March 2025 nor for the year ended
During the curr¢ni year. there werc £673 of trustee ¢xpen5e incurred in order to support the TEG Connect
activities.
Page 13

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestrided
fund
Restricted
fund5
Tot41
funds
INCOME AND ENDOWMENTS FROM
Donations and legacies
34.713
Charitable activities
PTofession81 dewelopment
170.350
170,350
Other income
Investment income
5.840
763
5.840
763
Total
211,666
211,666
EXPENDITURE ON
Membership rnanagemeni and sect or support
61,409
61,409
Ch2rit*ble activities
Prof¢55ional development
39,979
39,979
Other
8,279
TotAI
109667
109,667
r4ET INCOME
101.999
lQl.999
RECONCILIATION OF FUNDS
Total funds brought fon¥ard
31.464
31,464
TOTAL FUNDS CARRIED FORWARD
133.463
133,463
Pa8¢ 14

TOLIRING EXHIBITIONS GROIIP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR TIIE YEAR ENDED 31 MARCH 2025
DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade debtors
PrepayTn¢nts and accnied income
144
444
7,391
444
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025
2024
Trade creditors
Other creditors
7.285
.315
MOVEMENT IN FUNDS
Nel
movement
funds
At
3113125
At 114124
Unrestricted funds
General fund
133,463
21,998
155,46J
TOTAL FUNDS
133 463
155,461
Net Eyjovement in funds. included in the above ar¢ as follows..
Ineorning
resourtes
Re50urtes
expended
Movement
in funds
Unrestricted funds
General fund
239.237
(217,239}
21,998
TOTAL FUNDS
239237
217.239
21,998
Page 15

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS- eontinued
FOR THE YEAR ENDED 31 MARCH 2024
MOVEMENT IN FUNDS- continued
ComparAtives for movement funds
Net
tnovement
in funds
At
3113124
At 114ll3
Unrestricted funds
General fund
101,999
133.463
TOTAL FUP4DS
31.464
101,999
133.463
Comparative net movement in funds, En¢luded in the above are as follows..
IneornRng
resourees
R¢source5
txpended
Movement
in fbDd$
Ilnrestricted fund5
General fund
211,666
1109,6671
101.999
TOTAL FUNDS
211,666
1109,6671
101.999
A Current year 12 months and prior year 12 rnonths combined position 15 a5 follows..
Net
movement
in funds
At
3113n5
At 114123
Unrestricted funds
General fund
31.464
123.997
155,461
TOTAL FUNDS
123.997
155,461
A current year 12 months and prior year 12 months cotnbined net movement in funds, included in the above are
as follows..
Incoming
resourtes
Resources
expended
Movement
in fund5
UDrestricfed funds
General fund
450,903
1326.9061
123.997
TOTAL FUF4DS
450.903
326,906}
123,997
Page 16

TOURING EXHIBITIONS GROUP
THE EXHIBITIONS GROIIP
NOTES TO THE FINANCIAL STATEMENTS- continued
FOR THE YEAR ENDED 31 MARCH 2025
RELATED PARTY DISCLOSIIRES
There were no related parry transactions for the year ended 31 March 2025 nor for the y¢ar endcd 31 MarclJ
2024.
Page 17

TOIIRING EXHIBITIONS GROIIP
THE EXHIBITIONS GROIIP
DETAILED STATEMENT OF FINANCIAL ACTiifiTIES
FOR THE YEAR ENDED 31 MARCH 2025
2025
2024
INCOME AND ENDOWMEwrs
Donations 2t)d legacies
Membership subscriptions Ordinary
Membership subscriptions Corporate
Membership subscriptions- Ordinary new
Mernber5hip Subscriptions- CoTporale new
Membership subscriptions Volunteer
Membersl)ip subscriptions volunteer new
Donated servi¢es and facilities
Professional development
Art fund
Bespokc training
Education members- new
24.461
12.885
3.189
3,744
640
660
840
4,780
5,li5
2,000
750
90
2,390
11,876
23,486
62.213
Other income
TEG Connects ticket sales
7,318
5,840
Investmeot ineome
Interest receivable- trading
,706
763
Charitable Activities
Art5 council gr2nt
Rescareh grant
Wesion loan programme
Art fund
loo,000
160,000
2,000
350
8.000
168,000
170,350
Total incoming re$our¢¢s
239237
211.666
EXPENDITURE
Raising donations gnd leg*ties
Insurance
Co-ordillator fees
Membership manager
Executive director
Website manager
469
18.6SO
15,270
29,006
456
11,847
10.029
36.197
2.880
63,395
61.409
Other trading attiwitles
Marketing rnanager
CarrÈed forward
22,013
22,013
This page does not fomi part of th¢ statutory fjnantial statements
Page 18

TOURING EXHIBITIONS GROIIP
THE EXHIBI'fioNS GROIIP
DETAILED sfATEMENT OF FINANCIAL ACTII'ITIES
FOR THE YEAR ENDED 31 MARCH 202$
2025
2024
Other tr#ding activities
Broughr forward
Consultancy- market strategy
22.013
24,164
Charitable aetivities
Profe55ional development workshops
Bespoke training
Website maintenance
Web-site Iiosiing
Marketing design
Membership design
E_newsletter layout and postings
Subscriptions- Xero
Marketplace ¢ateTtn8
'rEG connects
Se¢retariat uplift
Art fund consultancy
Weston loan consultan¢y
Market strategy ¢on5ultancy
Finance consultancy
Resear¢h consiiltancy
Training in person
Training- specialist speaker5
Subscriptions- survey monkey
Subscriptions- other
Subscripiion5- dropbox
Art fund- event costs
Aff fund- travel
Weston loan- travel
Professional development manag er fee5
CPD atcreditaiion
MAGNET consultancy
MAGNET- event wsts
Advertising and Promotion
6,574
1,000
1,000
1,296
209
16,238
553
4,800
295
900
376
2,246
3,849
14,325
8.032
928
i19
1.808
27
3,530
825
3.125
250
7.408
1,300
388
1,250
750
218
1,400
48
705
367
35
2,721
26,489
816
218
582
204
23,224
563
1,050
3.424
1.500
117,186
39.979
Support costs
Governgnce costs
Sundri¢5
Accountancy and legal fees
Travel - awaydays
Travel expen5es- 5ecretsriat
Carried forward
341
1.639
5,561
4,143
11,684
472
1.274
1,818
2,548
6,112
Thi5 page doe5 not forni part of the statutory financial statement5
Page 19

TOIIRING EXHIBITIONS GROUP
THE EXHIBITIONS GROUP
DETAILED STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31 MARCH 2024
2025
2024
Governance costs
Brought forward
Travel expenses- ronfei'ences
Siaff travel biidget
Trav¢1 marketplace
11,684
6,112
228
35
1.904
810
12.494
Total resoiirces expended
217,239
109,667
Plet intom¢
21,998
101,999
Thi5 page does not fom) part ofthe statutory fjnancial stat¢tnents
Page 20