REGISTERED CHARITY NUMBBi'. 119744¥
Roport ￿th• fnrnt8w •nd
Flnan¢lal 8tat•m•nl• for th• Y•ar Ended 31•t D•c•mbw 2024
Worc•8tsff•hlr• Hwltall•• Art and Mu••um8
Tho sa￿ Parfnership
Thomeloe Ho
25 Barboum8 R¢Jad
Worcéstsr
WoTce5teT5hire
WR1 IRU

Worcester¥hSr• HerJtag•. Art and lkneur
Cont•nt• of tho Fln*n¢lal Stat•rn•nts
lor th• Y•*r Exd•d 31st Dèeomb•r 2024
Paq•
R•port ￿ th• TNst
2 to 4
Ind•pond•nt Examth•f8 R•port
ststwngnt of FIn￿ClaI Adlvlllo•
Bal•nc• Sho•t
C&•h Ht)w St&tsm•nt
Not4• tr• thè Cash Flow St#i•n•nt
Not•4 to th• Flnanclal Staterne
10 to 15
16

Worc•stornhtr¢ HgrflagD* Art afMI IAu••um•
R•f•r•nG¢ and Admlnl8tytiv• Dbtslls
Igr tho Y•ar Ended 318t Decernbgr 2024
TRUSTEES
C J Nalsblti (Chair)
V J Osbome
F F Dorr81
l R Rutherford
John60n Iroslgned 22.10.241
T O D¥nEI lappointsd 2110.241
PRINCIPAL ADDRESS
worr￿tsr Cty Musoum & M G811
Wcfc4$ter
WoTcester5hwe
WR1 1DT
REGISTERED CHARrrY Nu￿ER 1197448
INDEPENIMT EXAIANER
The Rit*ards S•bYy Pattr￿h1p
Tts)meloo House
25 Bathum8 Ro
WcrfL*St&r
WR11RU
Th8 Collcfef8tibp Bank
11&120 Colmore Rv
BKmirfjham
B3 3BA
MUSEUPA MAMAGER
P￿n9
INVESTMENT IAANAGERS
Fl8gston•
1st Floor, Clawlo H(x*o
Lond
SW1Y 4EL
Page 1

W*x¢•stsrnhlr• H•rflag•. Art and Muwim•
R•port ofth• Trust••s
fortho Ygar Endod 31st D•ewnbor 2024
Tha trustees present their report wth the fin8nrial staf¢m8￿ of the charity for the year ended 31st D8eember 2024.
The tru8tse5 have adopted the promsions of Accountrng and Rèporting by CharitseB.' Staternent Df Recommended
Practice applicable to charitses prepar￿￿ Iheir acc4)unts in aecordance vthh the Financ4al Reportiry Stsndard gpplicaNg
In the UK and Republic of I￿land IFRS 1021 {•ffedi%* l January2019).
OBJECTIVES AND ACTivrriES
Ob1ecUV￿ and alms
The objeth'ves of Iha CIO are the wcffiotion of the apkY8rAth'on Ènd ￿joyM9nl of art, cukure, heritage and BcKgn(*
public by anwuraging Ihe put￿le to particyte 8fk1 ertga90 Wtth museums and related services operatsd by
*Jseum$ WorcÈstèrnhlra.
81gnlflcant ictlvltl•#
The trustèas ar0 tasked to erwjrage and prrynotè pAitidp8tion in the wrjrk of MuBeurn¥ Worcagtershlre's
musèums through support, publicty, aokncacy and drwlons for the Pl1rp￿ of PLrthasiThJ works of art and artof8cis
that devdop eallacuong Ènd lurth6n.ro lh& ￿ and acb¥tso5 ofthg muwms.
Publlt bènafft
Thg tru8tsgs confimi that they haNp Cr￿￿4￿d with th¢ duty In geellon 171511rf th& char￿e¥ Ac* 2011 tp hAv8 du• regard
to guldancs published by the Charity Commissicffj on wtllc benofft mimng the th*1ty8 alm$ and obl￿S
and in plannlng hrturg 8dvltS8s.
ACHIE￿￿ENTs AND PERFORMANCE
Charttable o¢tlvlU
2024 was WorcesteTrluTe Hgritagg, Art & Mu#tums third ye8r of Ivatic￿. 9)nOnug to SUkVJrt an(J advocate
for thè work across thè museums the Chaiity sw)F*)rtS.
In 2023. Trustees adtrptèd four strategtc ajms and obl￿￿￿$ fortsw Chty.
1. developing the art co118¢ti0n,
2. supportin9 the Mder collgctivn¥.
3. Incluslon, education and SUWBion planning.
4. heslth and mental wdlboiro.
Dewloplng tho Art Colle¢tk
In 2023, tho charity r8C8i¥8¢J 8 majL¥ bequest frL¥n ow fThmder. Profèssor Roff Olw A stralagy to use this ￿qu95t to
purchase significant for Warr*stèr Citls musoum ci4knts.on had been agrged wilh Ro￿. Trustee$ K*re able to
continue thatwork in 2024, pur¢h881ng thè fdlo*iNJ *Drks WorcesterfB collecty"on.'
- Dawd Hocknèy'mywindow. iPad drawng'No. 610.. 23Td DeCem￿r 2010. 2019,
- Ellzabtrth FDrbès'Portrait of Stsnhope Folbes atthe Ea$d dr**in
Th88e rACttve8 wll be incl(h*d (n th& new Shirt8y aThJ Rclf Oknn ￿1￿Y ofts Citys 8rt co1￿c1k)n, sCh￿Uled to op$n In
2026.
The Iwo palntiws by Dame L#wa Kmioht wuir•d kn 2022 *ith the support of the Charty Èxhlblt•J In th8 Spring
2024 Exhi￿"th"On 'Dame Laura Knight. I Paint T¢KI8I, v*uch attractèd 7:(￿) ￿Sitors. 79% of viBilor¥ m from outsld8
W¢rts8tor, th•r ￿lts briThJhvJ secondary spend and eoxomk Impad Into th8 city.
Supportlno th• wld•r ¢ollecllon•
Phllanthroplst Martin Cwk, who is originlly trom WLvc8stgr but ncN4 in the US. rnade a signfficant donation via th
ArnaricAn Friends olthe Art Fund. This iwSred by Professcf Rolf Olsen's founding donation, bmlh Marun Sa￿n9 'l'
keèn te play a part in Worcasterts uJKural debelopment and Profesw Olsen's ambiti'ons stnJc* a thord wlh mg. My
sh is to 8UPPOrt tha d8V81opment of the Art Gallery WKI Mus9um. L*bebratÈ the rich heritage ol th? ity 1 grsw up in
And build on Professor Olsen's legacy."
A slratsgy has boon agreed to this donation tD crBate a gdkny to d￿[laY WDre8star Cty Museum's national
important glov& (X)ll￿tIOn and showcase w￿¥￿¥ roia In the iniomattonal glovin9 trade.
This proied ￿lch will xlso indud& int8mships Thill nuthre rrvatib* trI￿l In the dty and help young pecple
enterfng the museum protsysion, ￿￿11 startwork in 2025.
In DèeÈmt4r 2024, th• Trusleas la￿Khed a fu￿1raIsIng ￿1P4￿Jn to sabB an IMp)￿t Rornan o)In ho8fd In
Wor(*Èt&rshlre.
This hoard, known aB thg Worrg¥tgrslur& CorqLbest 14oard. was by chant* in Léigh and Bransford in 2023,
and conslsts of c￿e Iron Age gdd ststsr and 1.137 R(xn8ll ¥thr denaril burfed in AD 55. It is largèst $llv8r hoard of
the reign of Nero IAD 54481 ever found irt R¢xn#n Britain. and 19 one of th& Largest Neronian sifvgr ￿)8￿18 recorded
from th? enti￿ Rtyn￿ Empire.

W•r¢•st•Y¥hlrn H•rlt•g•. Art*nd Mus•um•
Roport of thè TN•t•
forth• Y•ar End￿ 313t tYg¢ernbgr 2024
It Is a discovery of national imFXKt3n￿ ￿ (( a unique glimp58 of mlitary acfjmty and mI)V￿nentS In tho first
￿￿￿deS ofthe R￿nan Conquest- the dis¢yJvery ofthts hD8rf puts rurJ Worc*st8rshir6 onto the miliiary frontier.
Tho fvndr0i￿n9 ¢wnp8ign aims lo frjnd at least 5% of the lotat acquisition costs. and the launch of the Cro￿lIfvDdln9
campaSgn reached rnany d1￿￿, k>Jlh ¥ndl large. local and intwnatKJnal. The camp8p3n ¢ontinL>ad Into 2025 vAth
an eXhIb￿.0n atw￿Cestsr City Art Glbry.
Inclu8lon, Educatlon and Succ•sak•n Plannlng
Carrièd for%vard frem 2023, th• Charity frJnd8d the purchase ol Iwo audio guKlè pL4yers. dong wth tsctile stickers to
rnake the controls easlèrto ftnd by touch. and thsF￿ble eartJud4 forwisitorn lo Art Gallery exhiimuons.
Th8 Charity undeThm)tp and rhampioned a Pay it For*8rd 1ic*et stt*me to supF*)rt styd$nts to vwt th8 D•m8 Laura
Knight I Painl Today exthibthon at the Art Gallery. St￿Jents ￿[The frorn Aston, Coventry, Bristol, Bath. Bim)ingham,
Wafwck, DLwdè• and Keele universities. as wdl as Several Irtyn W¢￿r un1var￿ atNI from Pershore and Chas¥
sixth lo￿$, and H8rgford Art College.
Remainiro fiJnd5 from th¢ Pay11 FoN¥arf tkknt schem• ￿[8 tTr￿n to supp¢xt stsjdent mgmbgrshlps for Worcester
Art Gallery & Museum.
lmwtsvam￿s whl¢h Rolf had ad￿)Cated to Ww*ster Cty irnprowng Ihe tolSets and th8 Ifft at Wortestar
Cty Art Gallery Its rJEatè a better ￿SItOr experience-*Ere undertaken by tho Council in 2024.
H•¥lth #nd M•ntsl Wdlbolng
The ctta￿ appli8d tcs Worcestershire County Cwnryl put4ic ha8lth grant for the Make Tim& prclect at WOr￿ste￿h1rO
County Museum, supporbng IcrAI peop￿ at risk of 10ndir￿ and 3ou81 isolation. The project evofvgd during 2024, to
focus on SUFpo*ng f8mllles SEND children in 2025.
The charty was to cism ald on many of tho don81icns it rece￿, inrn8ir8 thp wnp8ci of w)pi8'9 geTherou5
gmng. The Trustees continup to Tewiew its prudant of fts 8vallabl8 ￿n¢]&
Th¢ Trustaas hav8 $tr8ngth8nod the Board of Tnntees, haiiNJ audited the th8rtLYs gObEMan￿. F￿rnal ond irWornal
advocaw for museums co)nlnu6s. *ith T￿te88.￿*T9$e￿l￿￿ ts Chwity to. m￿s￿.M members, sta(eholder¥ and
VIP8 at ?￿nts.
FINANCIAL REVIEW
The charity'5 unrestricted iT￿￿￿1￿j wourc05 £14.005 (2023.. £4.%71 and the unrestsithl was £1,529
12023.. £1,100). giving a net surplus of £12.476121Y23.' £3,2671-
The charitys re8trictgd incomirrfJ rasourL*8 vAro £320.10812023." £2￿,127) aThl the restr￿￿911 &XFwllbJr8 was £31750
12023.. £5.7061, gmng a net iurplus of £287,35812023.' £244,4211
Total unr•stn'cted fijnds at 31 Decembgr 2024 *pre £15.9831202&' £3.5071. of vthith £9,WN 12023.. £2,9151 rolated lo
4cuued income not y•t rec•ived. ￿a￿ng free reserve¥ of £6,07912023.. £5b21. T¢)tal re51rtcled fvndg were £533,399
12023.. £246,041), giviwJ total lunds of £S49,382(2￿23.' £249.548).
Rgty•ry•8 Pollty
In Ilne wlth Charty Commission guidanc*, Wor<¥stornhir¢ Hwrtagg Arts & Museums reseNes policy sets out
hvw mu¢h tha eknaity needs to hold in resoThE and
hcw and when the thar]Vs ieserves w be spent
how often thtr ￿881￿•$ pollcy 441 bè r8Mth4*d
The charity does not emrAoy 6tsff OT man•2& ￿￿￿ingS aThJ thus M doos not to re80rve funds for rèslfuciuring or
maintanan¢• In rag8rve.
11 does llot yat have any othgr planngd ¢0Mm￿onts that cannot ￿ met by fiJhwe incomè alon$ (for example a proFect
for whlch the charity has cornmittsd ID pmwda matd)ed fuThJing} and IhLL8 dces not neèd to rèsèN& funds for this
PU￿)(>S$.
Tho ¢h¥rity $hwld ka¢p in rèserve funds for Ihe cost of dis5dubon sh￿Ad ts tharrty bè unable to continue. This 18 only
to be used in the event oflh• Trwtèè$' d•eKfiffJ th8 d)8rtty th)ukl ￿$• to exisL Th15 will i￿￿de tho Cost ol final year
gccountlng and any pa￿llents wtstsndiwj IL* tha op￿8b￿ of th8 donation ststiC￿.
Thé charfty hold a minknum of £8(Kl and a mayimun of £1.5W In rew¥* for tt)Is purF4)se. This reS￿ve èxdudas
Income reC￿vable INt not yet recaved. as the ch8Jity cannotwnd Ihe Income until it i¥ r8c8ntsd.

Worcot•rnhtr• Hortlag•. Artand Museurn*
Rgport of thè Truste•s
forth?Y*ar Endvd 31$t D•¢•mb6r 2D24
Atthe yaar end the chartty had unTe8tii(#ed Fe58ThE5 of £15.983 {2¢Y23'. £3,507). of whith £9,90412023'. £2,915) Tdaled
to aecruad incomè not y8t received, leawn9 Iree Teswv8s of £6,079 12023". £5921. Although thii is abtsvè the stated
Tg8erv88 policy, thls Is ￿SIdered to b8 due onty to a timirg drff¢rgn¢p bpiwn the cc4bci.on ol in￿9 and paymants
ol grants to rknrity.
The charity wll hokl th$ Rdf Ob¢n Iwuèst And thè Marbn Coc* donation until they ￿ SFent as s8t out in
fvM1 strategles, reccgniSiTWJ that ts Roif 018èn baqL&•St can b8 SFent on diBthub'on ￿￿ts if those are
r8quiTgd,
This poliGy vall bs on ￿ annu81 basls to ensuTe Ihat I￿ LYE the need for a reBeNo h8$ not
changed.
FUTURE PIANS
ThÈ rharity has no signlfieant Flans to c*ange it OFwat05 goirwJ forward.
STRUCTURE, GOVERNANCE AND MANAGEMEI
Govarnlng document
Th6 charity 18 ccth45gJ by its gthemlng do¢umrt a c0nsbbj1iL￿. and constilth ? thwitgble IncorpoTatsd
Crf98nisÉlion.
Ro¢rulkn•nt and •ppolntment of new t￿slee*
art from th¢ first charity trustsas, avery trusto6 must ￿ aFVCffitgd for a tsm ol thre8 ￿s, by a resolution pJ¥$od at
a property convened m901ing ofth& charity trustses.
A skllls anatysis ol the trusteeB was ￿￿ertth¢n and a rBcnJNment plan adopted to bring eAlditionaJ sklllJ to th• trustses.
Inductlon and tralnlng ol n•w trusts
The charity truste9$ wll rnake to each n8w(knity tr￿￿￿. on w bgftyg his or 4wintrnent
eopy of the current Nwsion of the eonstitubon".
- a copy ol the C108 lats8t Trustaos, Annu81 Report and a statemént ofaccount8: and
- a ¢opy ol the charitys p￿Ic￿S tstratsgi¢ pl#n. mostr8cent m8bng mirxrte8.
Conn•¢tèd Entitleg
The CIO support¥ the wotk of ￿￿eUmS Worcestsrshire and iryb tts snnvol FknnYwJ. MuseLmS WoTcesternhlrg 1$
#jcinl mu8¢wns soN¢è ftjr W￿CeSter Cty Couwl and Worrmiwshiro Cwnty CJJnc41.
Approwj by order ofthe boarf oftrust8è8 on 21st 0¢*Ober2￿25 and signed on behalf by.
C J N8isbti- Trustee
P8994

Ind•pgnd•nt Examln•rf$ R•portto thg Tw•1￿ of
Wor¢•8t•rshir• Horltaq•. Art and Muyeurn
Indop•ndènt •x4rnlng¢• roport to tntht••• olWore•st•rnhtr• H•rtlag•, Art and Mu•gum
I report lo the th8rity Irusl?p5 gn my examinatw)n of Ihe a(a))unts of Worwtorshirg F￿ntagO, Art and M￿8UMB Ilh?
Trust) for the year ended 31st D¢etynb*r 2Q
Responslbllltles and ba81¥ of rnport
A8 thg rhanty trustees of the Trust you are r85pon3itrAg for M>ar8t1￿ ol th8 acc4>unis in a¢xordance htrith tr
quir￿￿nts ofth• Chwib"8s Act 2011 Adl.
I r4)ort in respect of my exarnination of thè Trusfs 8ectsJnts carri￿ out under Section 145 ofthg and in carrying c4Jl
my •xamln8t'on I have follo%￿d all applicable DI￿￿orts giw by the Charlty Commvssion under Sgrtion 14515llbl ol
thÈ ACL
Ind•p•ndgnt •xamlMr* statsment
Sinco your charitys gro88 incorne exce&lèd £250,(K#J your must bo a mwnl*T of • lthd bclty. I can confimi
that l am qualified to undertake the 8￿Inati￿ b￿j$e 18m a rnemtw of the hASti￿atiOn ¢1 Chartéred Cortified
Ac¢Qur￿ts. whlch is ono ol the listed bodig
I have ￿mpl?￿d my exxminab"on. I confinn that ￿ Materi￿ havè (x%ne to my att•ntion in connetlion byith tho
examination gl*ing m$ ¢ausè ts) bèliov& that in any Ma￿la1 resF*rt
aCC￿ntiTrg records V+pre not in ra¥￿ oftr* Tnjst as rnqUiT&J by S8c*on 130 ufthe Art vr
th8 accounts do not accord wilh records., or
Ihs accounts do not comply wih the aWic8ble requi￿¢￿ts c¢JnLwirvJ fcffln and cc¥tsnt of 8c¢ounts se(
out in thg Charft￿ (Accounts and Reports) R&aulay￿S 2008 otlw than 8ny TEqui￿ant that the accounts
tJw and fair *iew vthlGh Is not a matter Gr￿5*￿ered as part of an indèpéndènt axamination.
I have no concom8 and havè aUCaS M othw matt8rs in ￿neth0n Aqth the examm￿l&0￿ to *filL* sttenuon should
bo drwn in thls report In order to ena￿e a rKorw ofthè acfthbnts to bo raach•J,
MÈll8sa Gott•An ACAACCA
The Richards Sandy Partnership
Thomeloa House
25 Barboume Ro￿1
Worcester
Wor¢e8tsr8hir¢
WR1 1RU
Dats,. ..L*:Co. LS
Pa90 5

Worcesternhlrn Art •nd
statgm¢Dt of Flnanelal AetlvlU•6
forthe Year Ended 31¥st D0￿Mb￿ 2024
2024
Total
fundg
2023
Total
nds
fJnd
INCOME AND ENDOWMENTS FROM
Donation5 and legac￿$
320.10
320,969
251,819
Inv&%bnenl income
13.144
13.144
2,675
Total
320.1 08
334,113
254,494
EXPENDITURE ON
Ralsing f¢Jnds
218
216
Charltabl• actlvllle¥
Charit*49 actb￿t￿9
1.313
32,760
¥063
8,806
1.629
32.76(1
34.279
6.806
NEf INC￿lE
11476
247.888
RECONCILIATION OF FUKIS
Totsl fund8 brought foThYar(I
1507
246.041
249
1.880
TOTAL FUNDS CARRIED FORWAIID
15.983
533,399
549.382
249,646
Pago 6

Wor¢g•twuhlrp HgTrlagg, Art •nd Pkn•um
Balanc• Sh￿l
3181 00￿mber 2024
2024
Total
lunds
2023
Total
ftJnd$
unr￿t￿rted Restricied
funds
CURRENT ASSET8
Dèbtors
Cash at bank
11
17.818
515,581
2,815
247,653
7,147
522,728
17.061
560A
250,568
CREDITORS
AM(￿nts fAlllng du8 ¥￿thin one year
12
11.lJ61
(1,0681
11,02CI)
NEf CURRENT ASS￿3
15.983
533,399
549,382
249,548
TOTAL ASSETS LESS CURREpif UABILMES
15.983
399
549.382
249,548
NET A88ETS
14983
633.399
549,382
249,548
FUNDS
Unrestrfcted funds
Rastrfctod fjjnds
13
16.983
633.399
3.507
246,041
TOTAL FUNDS
549,382
249,548
The financial statements aN)[￿ed by the Bo8rd of Trust•ès allthc￿￿ for S6￿ on 218t Octrl)er 2025 8TrJ
were s*Jned on its t*half by.
C J Nal¥bitt- Trustsg

Wor¢￿tanhI￿ H•rliag•. Art and mu￿uMB
Cash Flow Stat•m•nt
forth• Y•ar Endod 31¥t l)•e•mb•r 2024
2023
¢a$h fvws Irom op•ratlng actlvlti
Cash generatsd fTcYn op¢r8tic
261.931
243.118
Net cash pmided by opeTrting
261.931
243,118
Cash flo￿￿ frvm InTMBtln9 actlvld
Intere31 receNed
1&144
2,675
Net cash prowded by inv6sllng 4¢bvlb
13,144
2,675
Change In ca¥h and ¢a*h •qulvahnts
the reportlng perfod
C*8h and ca8h •qulval•nts at th•
glnnlng of th• r•portlng porlod
276,076
245.793
247.663
1,860
Cash and ca8h •qul¥al•nts at thè ond of
th• rvportlng porfod
622.728
247,653
The notes fo￿ PArt finand81 stAt8mants
Page 8

Worc•st•rnhlr• H•rliay. Art and *J•gum
Not•s to th• Cash Flow Statement
for the Year Ended 31#ttJ•¢•mb6r 2024
RECtX4CIUATION OF NEr IIKOME TO NET CASH FLOWFROM OPERATIIK ACTpirriES
2024
2023
Not Incom? forth• rèporllng ￿lIOd (as p•rth• Stat•mwrtof Flnan¢lal
Aetlvltl•sl
Adlu8tments for.
Intsrast récèivèd
Increas¢ in deblors
IrKre&8e in ¢rgdito
299.834
247,868
(111441
(218071
12,6751
12.9151
1.020
Not ¢ash y0v1d￿ by ¢Jp•ratlon•
261.931
243,118
ANALYSIS OF GHANGES IN FUNDS
At1.1.24
Cash fiow
At 31.12.24
Net ¢a#h
Cash at bank and li h8nd
247,663
27fj,076
62172B
247,663
275,075
522,728
Total
247.653
275,075
522.728
Pw9

Wor¢￿t•￿h1rn H•rftag•. Art and Iljuwims
Notes to th• Finlnelal St•t•m•nts
forthe Ygar Endod 31￿ De¢8mbor 2024
ACCOUNTING POLICIES
BASIS OF PREPAI￿NG THE FINANCIAL STATEMEKrs
The finanaal statements Df the o*arity, bthich 15 a public bellgfft entity und•r FRS 1￿2. have been prepared in
acccrfdance ￿ the Charities SORP IFRS 1021 'Accwniing and Rgporting by Charmes.. Statement of
R6cemmeThJed Pradce appllcable to charities PTeparirvJ Ihew accounts in 8c¢ord8n¢g wth th8 Finandal
Reporting Skndard PFPtkablp in Ihe UK and Rep￿1￿ of IrelaThJ IFRS 1021 leflective 1 J8ntsary 20191,, Flnancial
Reportiry Standard 102 Fin8n¢yal RgpJrting Stsndard in Ihe UK and Republic of Ireland, 0Th1 thè
Charities Act2011. The ffinanaal pr•par￿ hLstortC81 o)st ccffivendon.
Thè accounts are prepared in stethrvJ. whiL* is Ihe fvndJ￿al oJrTenry of tho ch8rtiy, Mc￿&t￿ry amounts in the
flnanti81 statwiènts Wa rounded to tha nearest£1.
INCOME
l income is recognised in Ihe Statemert of Flnanclal 01￿& ihe d)arity has ant1￿ment to th? fvnd¥,
is probabl• that the Nicome Mqll be receiled and Ihe amount can be rneasur8d Tèliab￿.
Incomg frDm don8bon5 Is Induded ¥¥hen the dmrity 15 enotled to the lunds,. for colkg(litin$ end planngd givlng
this is when th? funda are rgE4Vgd.
Income frc*n grants aTrJ dona*'on8 rer4)gniwl in thg PgTitxl in Mthld) 18 ￿li￿0d to receipt and the
omount can be measur&1 Teasonable certainty. Inu¥ne from grants iy only ¢Werrpd vth8n the charity has to
lulfil condltions not yet met before becoming entiued to it cf dl¥￿ has 5p8clfied that the In￿Me Is lo
be O￿nd&d In a futuw pwlc•J.
Income from GiftAM 1$ induded in thg SOFA atthe swne twng asts thialic￿5 to they relate.
Inec¥ne from legades15 IndL*Jal 7*then Ihe arncunt rwxNable ha8 •wtsined and nOfjf￿d by
the wcutors
Inwno from Cash In4thn•nts fis rnci¥Jn188d on elfectiw int•r8st rat&
EXPENDrruRE
Liabl￿'ty.e8 are recogni8ed a3 wendiknre ag 8Cty as a I￿ or construclw Ob￿g￿On cgmThlttlng the
arity to that expenditure, It is I￿0b￿e that £ transfer ol ec(MKMlliC Ipnaffts re￿Ared In Sett￿rnent and
th8 amount of the ￿￿gati￿ ran measured rdiably. ￿TrJitUre 18 aciLunted for on an acuwls basls and
has been ctas&fierl undw headi￿ that aggregale all cost Trlated to thg c81890ry. WhwB e95ts cawlnot be
direcoy attributed tg parb"w18r h&adlrYJs they have been allocated to activiiies Dn a basis consI8￿t Iho
of resourcAs.
Grarts offered sutle(* to condrtions whith have not been met at the Jpar dats 8ro not•d os a commitment
but not aocrued as eypenditure.
TAXATION
The (*arity Ss exernpt fmTn tax ￿ its th*i1*4è athiuès.
FUND ACCWNTING
Unrestri¢t¢d fuNJs ¢8n be us&1 in accordance *ilh the (*ari&*Jk cèieclThw atts disrrtion of th&tru$tO8S.
Restri(knd fund3 can only be u8ed fttr p8rUoJlar mstslcled puws knithin lh• otycts of the c*art¥. Re8tri¢tions
arisg when speo'fied by the dOI￿r fvn(ts are ￿￿ed ts p8rbcyJlar restrithd purwses.
Furthor explanation ol the naiur& and purp￿ ol each is ind￿1￿d in the notss tv the ffinan¢i81 sts18ments.
FINANCIAL INSTrUMENTS
The charity has elected to appty thg prow5ity)s of S*eb￿ 11 'B8sk Fthandal Instrwments, and Sedion 12 '0ther
FIn8nd￿ InsknJm8nts Iss￿, of FRS 1￿2 to dl of h finandal instrumen
DeblDr¥ and ￿edIto￿ with stated Inte￿t rate and TecAvable or payable ¥￿thITr (ne ￿ar arè r￿ardad 8t
transaction wrx. Any10ssos ari$ing fr￿n imp8imont ar• r8ccwJnis•d in the wofft and h)ss account
P8g8 10
GOn￿n￿ed...

Wtxc•stgrnhlrn H•rftagg, Art arKI Mu••urn•
Notss to thè Flnanclal Stat•ments • contlnu•d
for th• Year Endod 31#t D•c•mbor 2024
DONATIONS AND LEGACIES
2024
2023
Donakn.￿S
Glft gkj
Legaci8s
Grants
316.613
1,J156
1,185
250.IX)O
2,500
320.P69
251,619
Gr8Tts receI￿d, indud8d In thè above. grè as fell￿￿S..
2024
2023
Worce5ter5hire County Cwnc41
INVESTMENT INC(AIE
2￿23
Bank intsr85t
13,144
2,67S
IIAISING FUNDS
RAIIANG DONATIONS AND LEGACIES
2024
2023
Card mathno c*a
216
CHARITA8LE A￿M￿E$ COSTS
Grant
Ying of
actiw.ties
Ise8 note
61
Swort
sts Isee
notsn
Tolals
Charitatrle acb'mtsg
32.920
4.143
34.063
GRANTS PAYABLE
2W23
Ch￿table activibe
31920
5,761
Thelotal grants pakl to durirrfd y68rwas as folcmy:
2024
2023
Museums WorceBterslure
31920
5.761
Pagg11
¢Mtinuad...

WweoSternhlr• H•rltsgè. Art and Mu8•um•
Notss to the FinEnelal 5tat•rn•nts- eonllnued
forthe Year Ended 31st De￿rnb￿r 2024
SUPPORT COSTS
Govemanco
Fln8nc8
Totsls
Ch8dt8t4e a¢Jvib8s
1,143
Suppcrteogts, included in the atove. are as fr11￿￿.
2024
Charltab18
adMtie$
2023
actimtses
Bank charge8
Ind8p•nd•nt e￿mInatiC
25
1,020
1.068
TRUSTEE8' REIAUNERATION AND BENEFrr3
There wpre llo tru8tsw' r£mun￿a00Th or other t￿Ofits th8 ￿j¢d 3181 D￿nber 2024 nor for the year
end&J 3181 Decernt*r 2023.
TRU8TEES' EXPEIISES
Thorp no trustees. &>¥ense5 paid for the >wr 31$t D8¢WI￿r 2024 nor for the >paT ¥nd¥d
31$t tjwiter 2023.
STAFF COSTS
Tr*re were emF4oy8es during the ￿ w)dgd 31 D•c4thr 2024 nor d￿ng the year ended 31 Decemt*r
2023.
11
COMPARATIVES FOR THE STATEPAEIIT OF FINANCIAL ACTivmES
Unrestrh*d
Restrthd
nd8
Total
fuThJs
INCOME AND ENDOWMEpifs FRO
Don8titsn8 and lègaiws
250,127
251,819
Inve8tment Inccffle
2,675
2,675
Tot41
4,367
250.127
254,494
EXPENNfuRE ON
Ch¥fkRble aEtlvlti•6
Cha￿t￿le actMtse5
1.l¢Jl
5.706
6.8L
hET INCOME
3.267
244.421
247,688
RECONCILIATION OF FLVIDS
Total lund$ brought forward
240
1,620
1,860
TOTAL FUNDS CARRIED FORWARD
3.X)7
246.0¢1
249.548
Page 12
ntinued...

Wor￿t•1*h1r• Hothag?, Art and I*J•guMs
Not•8 to th• Flnanelal Stat•mMrts- Contlnuod
for th• Y••r End•d 318tD•¢omb•r 2024
11.
LEBTORS: AMOUNT8 FALL14G DUE I￿H1N ONE YEAR
2024
2023
Other debtors
Prepayments and acEn*d income
240
2,675
27,396
27,722
2,915
11 CREDITORS.. AMCAIP4TS FALLtrK4 fMJE VaTTrllN ONE YEAR
2Q24
2023
1,068
1.020
13.
MOVEMENT IN FIJNDS
movemgnl
in
A11.1.24
31.q2.24
un￿$tr￿tsd fund¥
General ￿nd
12A76
15,983
R•strlet•d f￿d$
R Olsen LegaGy F￿1
Worcèster Hoard
Cook Dgvéltspmént Fund
Make Tim¢ Ptga
246N41
132,260)
18.646
294463
213,791
18,646
298,463
151KI
246,041
287,358
533,399
TOTAL FUNDS
299.834
549.382
Not movement in fijnds, induded in thg ab￿ 8ro ¥$ fr41¢)m.'
Incorning
Re$our¢ès
Mov8m8nt
In fvnds
UnmtrS¢tsd fvnd
General fvnd
11.5291
12A78
R•#trletad fund¥
R Olsèn Lagacy Fund
Worc8st8r Hoard
Coc4(1)evelopment Fund
Banyard Art Gallery
Make Tkne Project
1312fj01
132.2501
18.646
298.463
I8.￿5
1500
320.108
132.7601
287,3S6
TOTAL FUNDS
113
(34.2791
299,834
Pago 13
ntinued...

Wr*ee#ternhlr• Herlt•g•. Art*nd MuMum*
Not•• to the Flnanclal Statements- ¢ontlnued
for tho Y•ar Ended 31$t Deegmbor 2024
13.
MOVEMENT IN FUNDS- ¢onilnu•d
Comparatlvg8 for movemènt In fund
Net
movemgril
In fund8
At1.1.23
31.1123
UnMtrkt•d fund•
General Mnd
3,267
3,507
Reitrlctsd fund8
Dame Laur8 Knight Fund
Art G8116ry & Museum Fund
R Ol¥en LegaBy Fund
1.425
195
11.425)
11951
246,041
246,041
1,620
244,421
246.ts11
TOTAL FUNDS
247,688
249,548
Crynpar81i* nat mthmént In funda, r￿ud•d in thè abo* arn as follrM8.'
InC(￿ing
I￿OUrCeS
Resources Movement
Ignded
in fvnd¥
UnroJtrfct•d fund•
General fvnd
11.1C4J)
3,267
RMtrictsd fund*
Dama Laura Kntqht Fund
Art G8118ry & Museum Fund
Cglle¢tiws Cttntre FurKI
R Ol¥en LggaGy Fund
25
(1.4501
11951
111Y21
{3.9591
(1,4251
11951
102
250,000
246.041
250,127
15,7C61
244.421
TOTAL FUNDS
254,494
16,8061
247.688
RELATED PARTY DISCLOSURES
Duriro the ￿ar ended 31 Dec&Trt￿ 2024 unrestricted d(1￿rOn$ of £10 ￿rg recei￿￿ from key mna9èmént
p￿sOnnel12023". £101.
th8 ￿#r grants of £32,92012023.. t5,7611 **re awarded to Museums Worcestershire. ofwhich P Tinsley
is Mvseum Manager. These grants givon in accordano wilh th? chgrivs grant award Policy. awarded by
the Trustees.
1&
PU￿￿OSE OF FUNDS
The unreslricled general fvnd can be used th8ritabk W[p￿ 7hithin the ￿￿11ty* objethj and gkwrowd
by the Trustees.
R•st
ct•d Funds
Damg Laura Knlght Fufftd - thL* fund L8 restrlcted for th8 purpc6e of as81sting th8 Art GAllary vAth th8 purchase
of p8intings by Dame Laura I(M￿Jh(
Art Galhry and Museum Fund- this fundls reslriL*ed for the ofassi5tiThJ the Art Gall￿ a￿1 Mu$sum.
Colecllonty C¢nts# Fund - fvnd is rnstrM#8d lol¢y*ing the rKglpt of thnth.o1￿ to t• put t(wa￿S the
Collthns Centre.
R Olsen Legacy Fund - this fund is restrictsl frAl¢Mng Ihe rrfwpt of a legary R OIB¢n, wth il $tlpulgtsd
that the bequeBI b8 Used solely fortr￿ purth￿e ofworf(¥ of a
Pag• 14
continu&J...

WoreMt•rnhlr• Horlt•g•. Art and Mugeurn•
Nots5 to thè Flnanelal Statsm•nts- contlnu•d
for th• Y•ar End¥d 31st D8c•mbBr 2024
15.
PURPOSE OF FUNDS- ¢ontIn￿l
Worc••t•r Hoard - thL8 fvnd IB re8tricted foT the PUTpose of s￿r￿j and thsF4ayng the Roman¢-Brfl¥sh ¢￿quest
Hoard.
C¢)ok Development Fund - thls is r•stri¢a8d for the purpose of mayimising the dBvelopment opportunlty
abngsida tho R Olsen Legacy Fund. incTeasing th8 of gallwy, and increasing prido In Wjrwlerfs
cultur81 history.
Bamyard Art Gall•ry- this bJTrJ k8 restriclwj for the of asslsung Art GaI￿ry & Museum.
Make Tlmo Project - this fvnd Is r8strlct•d for tho purpw of supwtiTrJ actMti8s ttk81 lonellne5s aThJ
8W81 i$¢lth"¢n.
Page15

Wom¥ternhlTr HwlWe, Artand
Detailed Ststementof Flnanclal A¢tivltlg¥
lor the Year Ended 31st Dgcernbor 2024
2024
2￿23
INCOME AND ENDOWMENTS
Donatlon¥ 4nd lega¢la•
Donations
Glft aid
LegacAes
Grants
316.613
1.8S6
1,185
834
250,000
Isoo
320,969
251.819
Inv•stmontlncome
Ba￿ Interest
14144
2,675
Total Incomlng I￿•Ure•S
334.113
254,494
EXPENDrruRE
Islrtg donatlons and l•g•cl••
C8rd machlno eh8rg8s
216
Ch•rtlabl• actl¥ltlgX
Grants to in*itJJtions
32,*20
5,761
support cost8
Flnanre
Bank charye8
75
25
Governance cwts
Indopendent examlnatton
1.068
1.020
T¢>tal r9¥Ou￿0￿
34.279
6,8C
Net Incomo
299,834
247,688
Th13 page doe8 ncrt form ofts stattrtory fjnana81 statsrn
Pago16