Trust•o8 Annuol R•port
lor ￿TIod 1° Aprll 2023 to 31° March 2024
Woodbridge Museum registered ¢h8rity number 1194042.
Address..
Whisstock¥ P18ce.
Tide MILI Way,
Woodbridge.
Suffolk
IP12 1FP
The Charity 1$ now a CIO h8vlng been entered on Ch8rrty Reglster 9 April 2021. The ch8rltywa$
previously an unincoipofated ch8I1ty C811ed Woodbridge Museum Trust. In accord8nce with Art8
Council recommended best procticethe tTUStees tookthe decision to become a CIO. The
original ehafity opened the museum in 1982 in its previous location on the Market Hill,
Woodbridge. The museum has a 99-year lease ol it's building on o peppercorn rent. Our18ndlord
is Woo(Ibridge Town Council. The ground floor houses our permanent dlsplaywhich is open to
the public. It h8d been intended to utilis¢ the first floor 8$ exhibition space. office and 5toroge
8re8. Unfortunately. the difliculty in obt81nlng insur8nce cover and he81th & safety Issues have
made the use of the area tor exhibition space non-viable. The oreo is now used for $toroge ond
office space which we plon to open to local 8nd tsmily hlstorians on 8n appointment basis. The
Collection$ Team work In the office usually 8t least two days a week so 8 Large. dedicated space
where 5 or 6 people can work together ho8 proved very successful.
Our vi8itor8' numbers have continued to increase y88r on year since we moved io Whissiock's
Place. In the current year we had 22,974 adults and 3.056 children visit the museum. This
represents 8 28% and 19% respective increase in visitors over the previous year.
Our aims 8re set out in our CIO constitution ond our main aim is°To 8dvance the edvc*ion of
the public by the provision and mainten8n¢e ol a mugeum in or nearwoodbridge for the
exhlbition to the public of specimens ol fin8 and useful arts, ethnology. 8rch8eolo8y, geology.
botany 8nd n8tur81 history with particular reference towoodbridge and the 8urroundlng area"
We are fully accredite¢J byThe Arts Council 8chi8ving reoccredit8tion on 22- July 2022.
The Charity is managed by its twelvetrustees who meet regularly to discuss museum business
and where we receive reports trom sub committees including Front of House & The Collection$
Tegm both ol whom include trustees and other volunteers. None of our volunteeis. including
trustees, receive any remuneration although we offer steward3 roimbursement of porkingfe85.
It is our policyto not charge for odmission to the museum. $0 we ore reliant on donation8 and
profit from our shop to cover annual running costs. We have introduced a card terminal for
donations as well as abiiityto make donations through the till on the Front Desk. We con 8ccept
card and cash payments and encourage donors to complete a gift aid form. We are entirely
reliant on volunteer Stewards to open the museum which we do sevon d8yS 8 week th¥ough

summer period and atweekends during the Winter. On some occ8sions we have had to close
throughlock of stewards, but this is infrequent. Without the support of ourvolunteer stewards
the museum could not function. Many of our stewards are drawn from The Friends of
Woodbridge Museum which is itself a ch8rity run to support the aims of Woodbridge Museum. It
Is hoped to merge"Friends- wlth Woodbridge Museum as r( Is consldered It will be beneficial for
both charities.
Duringthis financial period Woodbridge Museum has received a grant to conserv8 8 unique
menuscript m8p of The Manors of Woodbridge late Pfiory and Woodbridge Hasketon1829. We
are wateful foi the generosity of Arts Friends Suffolk in supporting this project.
The museum continues to receive objects donated bythe public 8nd in particular has recelved a
substantial collection ot photographs and other items coll8ted by a local hi81oii8n. The
Collection Team also monitor locel auction websites and sociol medi8 and hove purchased
some iterns forthe museum. The CollectionsTe8m h8$ also commenced an inventoryofthe
permanent Collection. It is ttoped that once this is completed 811 items held within Ihe
Collection will be photographed and complete details will be catalogued on our digital sy8tem.
It will hèlp the Collections Team identlfy item8 that need consèrvation ond further rese8rch.
Four of the Collections Team ore trustees. The need tor an irwentory w8s prompted by a
Collections Care Audit for which a grant from AIM was obtained. This audit also helped us
identify other issues that affect the Collection such as light levels and humidty control. We
have taken steps to mitigate the rlsk vthere can.
Our largest expendlture is the cost of energy particularly as we must keep dehumidifier$ running
most of the time. We need to heat the buildingthroughout the year, even when we 8re closed to
the public. to ensure the air t8mpeiature stsys within the recommended level of not less than 14
degrees. When our volunteers are in the building the temperature needs to be higher for their
comfort. The Trustees decided to install 8oL8r panels on the southe8Stern side of the roof
together with b8tteries1inverters within the building to store electricity. We intend to sell surplus
electricity baek to the grid particularly during the summ¢f months. We hope that this will offset
the cost of energy in the Wintef and overall, substantl8lly reduce our annual energy costs. There
are substsntial environmental benefits to this installotion as well which improves the museum's
environmèntal lootprint. We were fortunate to be able to fund the installation from our capitsl
reserves and we are sure reducing our energy cogts now and into the future will be of great
benefit, not least to the museum's financial viability.
We are ple8sed to now be supported by our new museum mentor Clare Wa118ce Curator of
Suffolk & C8mbrid¥eshlie Regiments Museum.
The coming ye8r ¥￿1{, we hope. see the completion of the inventory of the Collection. We 8180
antiCiP8teth8t the Friends of Woodbridge Museum will merge with Woodbridge Museum CIO.
Our shop continues to be a substsntial source of income. and are gr8tetul to our volunteer
who h89 Put in many houis of work to source new stock and display it. We plan to continue to
support her in widening the choice of goods on s81e. We 8re also grateful to our volunteef
stew8rds as without theirwork we couldny function. We plan to Increase our number of
volunteers during the comingyear.
The Tru8tee8 declarethat they have approved the Trustee$. report above.

Signed on b
alf of the charity's trustees
Martin Sylvester. Ch81r
Date.......
0..￿..... ￿.¢ 42024

Woodbrld8e Museum
Charity No. 1194042
3110312024
Balance Sheet- Year endlng 3V0312024
31103123
Funds & Hxed assets
General fund
Reserve BIF
ExcesslDefic
ReSt￿e CIF
Developmentfuftd
Reserve BIF
Xfr to General Fund
ReSe￿e CIF
Malnialance fuThl
45,063.68
1,097.91
46.161.591
46,161.59
3,350.05
49.511.64
rin8-fenced
69,442.551
-5.394.90
64,047.65
64,047.65
45,150.56
|de¥eloprnent after site move
18,897.09
rln4-fenced sinkln8 fund
9.640.02
3,760.W |
13,400.
13,400.C¢)
6,500.(M)
Xfr from General Fund
ReSe￿e CIF
Fixed assets
9,942.85 |
lue 8IF
3,886.68 |
New fixed assets
-2,489.33 |
Lèss deprnciat5on
11.340.20 |
Value CIF
134.949.441 Sum of all funds & fixed assets
|SeeTable 3
19,900.rxJ
11,340.20
474.65
-2,260.30
118% of value IION Kscrnppedl
9.554.55
97.863.281
|Assets
Uquld assets
30.607.51 |
Bank account
79,184.24 |
Bulldin¢ society
85.73 |
Petty cash
115.291.79 |
5.588.54
74.087.47
89.85
79.765.86
Non-llqukl a55ets
Flx•d assets valu8
Shop Stock @ cost
11,340.201
8.317,45 |
19,657.65 |
134,949.441 Sum of all assets
9,554.55
.542.87
18,097.42
97.863.2B
Treasurer
Mike Cullington
Independent Examlner.
Rlchard Honley

Woodbrldge Museum
Charity No. 1194042
3110312024
Pmftt & Lms attount-YaYendlni 3110¥2024
Wojlzj
(uvr•nt
Next
Noi•s
Incom•
Donation5
8.110￿1
2.281.49
3.287£ty1
9.997.68
iO,SU.44
2316.32
8.9C¢.￿l
2,41KS.(WJ
Glh Al
Grnnts Ili5ted below)
Shop irntome tTII
Turnowr
Interest
N•t ltttam•
15,940.31
SeeTible I
829.66
24,505.88
2,381.88
1.6ts).C
373n.95
Oul80ir
O¥*rallty Exwr&•s
EThergy
Water
CDmmunk•tiC4h5
WTC ¢h•T84
matntenance
Othgrmt¢Y.
3,989th1
40S.451
374.30
340.60
4,152.87
2Z3.C
413.C
654.22
L038.64
IM41.81
315.C
568.40
252.CKI
Card fee5
Y57.
tsulhllng Insurance
346.58
Contents I￿ur•T
L234.19
Secudty
218.40
turatortal
3.239.93
xtrto Malntrrb3ntÈ FL¢nd s,5￿.
3.Cth.Cp)I
220.O)1
4dO.OJI
5CQCb)I
| 1.5W.OJI
I.0￿.C
I.269￿7
510.93
271.rKI
171.66
423.10
1,092.91
175.2C>
5,024.24
a.7￿.1X)I
I7,768.￿)
Adrnl
IrKJ.
É180GAthtMttd
250.1X)
1,7rx>.
| 4.LKX>.ryJI
1.7Tr).(K)Ike ￿$t￿ethd ¢VAttts
15eeTable3
s￿74
33420
338.12
9,404.99
6,963.13
Atqukgillo
Miycdljneous
shop ou*oiry trii
187.96
254.15
7,g54.95
LLW.(NJ
150.1YJ
LC(Q.INJ
150.ryj
SeeT•blt I
8,397,16
lknk>pm?nt Fund
14ew 0$5ets
Infrastnirture
Consuhtion
Inetsrporaifng Frle¥vJ5
Totsi de¥￿0￿mert CCSt5
Xfrfrorn Devdopmentfund
3,693AO
1.505.70
195AO
omi
5.394.901
5.394.90
4￿.99
43.279.57
L380.IXI
| 2.CW,ts)I
|30.CW.WI
o.coi
| i.LYX).￿l
|33.rix>.crfJi
| 33,OCKJ.(NJI
o.wi
INotreplKements
45,ISO.$6
45,150.56
l Ma1nt•mn￿ Fund
omi
Totrl expendf(ure
OD)
18.689.14
Not (Wln
ZBJ51.90
R•5ts1ct•d Grnnts& Dohmlhms
rnourt
8D.
Cquis
ons
onamn
1.050.(K) Curatodal Gr)nt- Isaè¢ lthnson mip repalr
sav
Art FrJÈnds Suwolk
KIX)3
131IV23
Ml*e Culllwroft

Charity No. 1194042 

**Woodbridge Museum** 

31/03/2024 

**Table 1:  Shop Profit & Loss - Year ending 31/03/24** 

||||||||**Budget**|**Budget**||
|---|---|---|---|---|---|---|---|---|---|
|**31/03/23**|||**£**|**£**|**£**|**£**|**Current**|**Next**|**Notes**|
||**Income**|||||||||
|9,997.68||Turnover||15,714.89||||||
|||Opening stock @ cost|8,317.45|||||||
|8,317.45||Closing stock @ cost|8,542.87||||||Database stock @ 31/03/24|
|||Stock increase/decrease @ cost||225.42||||||
||||||**15,940.31**|||||
||**Outgoings**|||||||||
|8,576.98||New stock purchases||7,733.44||||||
|||Replacement of stock losses||126.27||||||
|700.00||Design work||0.00||||||
|128.01||Sundries||95.24||||||
||||||**7,954.95**|||||
|5,423.33||Proft||||**7,985.36**||||



**Table 3: Maintenance Sinking Fund*** 

|**This Year:**|**2023**|**128.6**||||||
|---|---|---|---|---|---|---|---|
|Item|Installed Year|CPIH Index|Cost|Current Cost|Lifespan|Annual Cost|Sinking Fund rqd|
|Cladding|2018|106.0|60,000|72,792|20|3,640|18,198|
|iPad|2020|108.9|509|601|7|86|258|
|Laptop<br>|2020|108.9|779|920|5|184|552|
|Ofce Computers|2021|111.6|2,700|3,111|7|444|889|
|Solar panels|2023|128.6|5,929|5,929|25|237|0|
|Solar Inverters|2023|128.6|3,808|3,808|11|346|0|
|Solar BaXeries|2023|128.6|14,603|14,603|12|1,217|0|
|||||||||
||||||Total Fund required:||19,900|
|||||||Fund B/F:|13,400|
|||||||Xfr to Fund:|6,500|



* This fund is used for expenditure on the replacement of major items above that have a lifespan of several years. 

CPIH Source: 

https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/l522/mm23 

|**Title**|**CPIH INDEX 00: ALL ITEMS 2015=100**||
|---|---|---|
|**CDID**|L522||
|**Source dataset ID**|MM23||
|**PreUnit**|||
|**Unit**|Index, base year = 100||
|**Release date**|14-02-2024||
|**Next release**|20 March 2024||
|**Important notes**|||
|**2015**|100.0||
|**2016**|101.0||
|**2017**|103.6||
|**2018**|106.0||
|**2019**|107.8||
|**2020**|108.9||
|**2021**|111.6||
|**2022**|120.5||
|**2023**|128.6||
|**2024**|130.0|estimate|