THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
31 MARCH 2025
FINANCIAL STATEMENTS
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST CHARITY NUMBER: 1199639
| Full Charity name | The Leicester Museums and Galleries Development |
|---|---|
| Trust | |
| Trustees | |
| Mr William Michael Gilding (Chair) | |
| Ms. Ella Josephine Joyce | |
| Ms. Rita Bullivant | |
| Dr. Sally | |
| Horrocks | |
| Offices | |
| City Hall | |
| 115 Charles | |
| StreetLeicester | |
| LEI lFZ | |
| Bankers | |
| CAF Bank Ltd | |
| 25 Kings Hill Avenue | |
| Kings Hill | |
| West | |
| Malling | |
| Kent | |
| ME194JQ |
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
ANNUAL REPORT YEAR ENDED 31 MARCH 2024
Activities
The Trust is a charitable incorporated organisation (C.I.O.) registered on 13 July 2022 with the Charity Commission (under no. 1199639) and the Registrar of Companies (under no. CE029697), and acquired the assets, liabilities and activities of The City of Leicester Museums Trust (no. 0527876) on 31 March 2023.
The only voting members of the C.I.O. are the Charity Trustees.
Objects
The object of the Trust is to support the purchase of works and the development of services that are of educational, scientific, artistic or cultural interest for the benefit of the inhabitants of the City of Leicester.
Such works are presented to and such services delivered to the Leicester City Arts and Museums Service or such other charitable bodies and publicly funded museums as may be decided by the Charity Trustees from time to time for addition to the city's Public Collections. Funds are raised through donations, bequests and corporate partnerships.
The Trust has power to do anything which is calculated to further its objects or is conducive or incidental to doing so.
Performance
There were no changes of appointment on the board of Trustees. During the present year, Leicester City Council Administration and Business Support Officer Arran Bladen, stood down from his role in providing administrative support to the Trust. These duties are now administered by Trustees, working in collaboration with Leicester Arts & Museums Service Income Generation Manager, Rachael Hickson-Pearce.
The principal focus this financial year has been to launch the Trust’s website to establish an online presence with the facility to receive online donations from members of the public. We continued developing the site with Jetpack Marketing, and officially launched the domain lmgdt.co.uk in June 2024. The CAF Donate API service was installed and established to be working, with public donations incoming from June 2024.
Following the establishment of the Trust website, focus shifted to installing a new contactless donation terminal in the New Walk Museum site to further drive public donations in the digital age. Service providers were contacted and discussions held with GWD looking at their product “skinny Donation Station” on a 6-month rental. This proposal was adopted in March, with work towards graphics to begin from April 2025.
The Trust were asked to consider the purchase of the work titled ‘Inimitable Mrs. Morton’ by Jeffrey Davis, in February. The purchase of £1,800 was supported as the painting represents the Windrush generation and the city’s Caribbean Carnival, contributing to community cohesion and representation.
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
The Trust continued our ongoing support of sponsoring prizes for the 35[th] annual Open Art Exhibition, held at Leicester Museum and Art Gallery in December 2024. The prizes totaled £400 and were awarded in one Adult and three Children's age-related classes. The winners of this year's awards were:
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Adult Prize: Christine Pearson, " Oceania Collective", prize £250
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• Age 16-18 category: Tom Hudson, Waiting, prize £75
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Age 11-15 category – Oriel Birks, A Little Owl Looks, prize £50
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Age 5-10 category – Vincent Parker, Arc de Triumphe, prize £25
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST ANNUAL REPORT YEAR ENDED 31 MARCH 2025
Statement of trustees' responsibilities
The trustees are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
The law applicable to charities in England & Wales requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources of the charity for that period. In preparing these financial statements, the trustees are required to:
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select suitable accounting policies and then apply them consistently
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observe the methods and principles in the Charities SORP
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make judgements and estimates that are reasonable and prudent
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state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements
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prepare the financial statements on the going concern basis since all assets and liabilities have been assumed by the successor Trust
The trustees are responsible for keeping accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the C.I.O. Constitution. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
If the C.I.O. is wound up, the Members have no liability to contribute to its assets and no personal responsibility for settling its debts and liabilities.
Will Gilding – Chair
15 January 2026
THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
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| RECEIPTS AND PAYMENTS ACCOUNT YEAR ENDED 31 MARCH 2025 Income Voluntary income Donations King Richard III Visitor Centre Trust Investment income Interest received Loss on disposal Total Income Direct charitable expenditure Open 35 Prizes Purchase: ‘Inimitable Mrs. Morton’ by Jeffrey Davis (Feb ’25) Other expenditure Bank charges Website development Total Payments Net income for the year |
2025 2024 387 7,066 164 100 ----- (692) 7,617 (592) 400 400 1,800 60 52 1,152 216 _ _ 3,412 668 _ _ £4,205 £1,260 |
|---|---|
The notes on pages 6 and 7 form part of these financial statements.
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
STATEMENT OF ASSETS AND LIABILITIES YEAR ENDED 31 MARCH 2025
| 2025 | 2024 | |
|---|---|---|
| Monetary assets: | ||
| CAF Bank Account | 86,480 | 80,476 |
| Creditor | (9,901) | (8,101) |
| Amount due to the Leicester City Council | ||
| Net Assets | £76,579 | £72,375 |
| Represented by: | ||
| Legacy Fund (restricted) | ||
| Miss Sarah Edith Hare Legacy | 18,770 | 18,770 |
| Leicester City Council / King Richard III Visitor Centre Trust | 7,066 | |
| General Fund (unrestricted) | 50,743 | 53,606 |
| __ | __ | |
| £76,579 | £72,376 |
These financial statements were approved by the trustees on 15 January 2026 and signed on their behalf by:
W Gilding - Chair
The notes on pages 6 and 7 form part of these financial statements.
THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
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NOTES TO THE ACCOUNTS YEAR ENDED 31 MARCH 2025
1. Epitome
The City of Leicester Museums Trust is registered with the Charity Commission (no. 527876) and constituted by a Deed of Trust dated 1 October 1930. The Deed was replaced by an official Charity Commission Scheme dated 13 March 2003 with subsequent amendments agreed in September 2008.
The City of Leicester Museums Trust ceased to operate on 31 March 2023 having formally transferred its assets, liabilities and activities to The Leicester Museums and Galleries Development Trust.
2.
Charity Commission's guidance on public benefit
Purchased objects are normally exhibited to the public at the relevant Leicester Arts and Museums Service site and should be displayed within twelve months, unless good reason given to the Trustees. The following acknowledgement of the Trust is given in any accompanying text:-
''Purchased by/Purchase supported by The Leicester Museums and Galleries Development Trust."
The charity is mainly funded by a proportion of the proceeds from public donation boxes at all museum and gallery sites, together with private and public donations, bequests and corporate partnerships. All purchases are in accordance with the 'Collections Policy' for the Leicester City Museums Service and support the Service's 'Strategic Direction'.
Incidental third-party private benefits may be incurred as a result of carrying out the Trust's purpose
e.g. cost of external valuation of paintings, shipping costs etc. These are fully listed in the charity's expenditure for the year.
3. Trustees
The Trust Constitution provides that there should be no fewer than three and no more than six trustees, who are appointed for a term of four years and may serve for a maximum of two consecutive terms, pending reappointment after a further interval of at least one year. Trustees must be persons who through residence, occupation, employment or otherwise are able to contribute to the object or management of the charity.
Trustee vacancies are widely advertised, applicants shortlisted and interviewed against published skills, experience and abilities.
The trustees must hold at least two ordinary meetings in each twelve-month period: in practice three or four meetings are held each year. At the first ordinary meeting each year the trustees elect one of their number as chairman of their meetings. Two Trustees shall constitute a quorum.
Trustees receive no remuneration, expenses nor other benefits from their work with the charity.
THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
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4. Related Parties
During the year the trust was administered by Leicester City Council; no charge was made for any services provided nor was any interest charged on the current account.
The services of SFB Group Limited, Chartered Accountants assisting the Trust with accounting matters together with any other areas as appropriate, has been provided without charge.
5. Accounting policies
The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective I January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention.
The principal accounting policies are set out below and have remained unchanged from the previous period.
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(a) Donations and interest received are taken into account when credited by the bank or Leicester City Council or unconditionally receivable.
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(b) The trust is unable to recover VAT and where appropriate this is written off with the associated expenditure.
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(c) Purchases are charged, and grants are credited to the receipts and payments account when paid and received.
6. Reserves policy
The trustees agreed average guidance levels of funding at £100,000, with lower and upper limits of £75,000 and £125,000.
7. Legacy Funds
- Estate of Miss Sarah Edith Hare
In March 2007, The City of Leicester Museums Trust received a legacy of £10,107 from the Estate of Miss Sarah Edith Hare; Miss Hare having expressed the wish that this gift be used for the purchase of Anglo-Saxon material for Jewry Wall Museum.
In the absence of suitable material for purchase, The City of Leicester Museums Trust Trustees had instructed that the fund carry interest based on the retail price index.
Following the subsequent closure of Jewry Wall Museum and recent transfer of the Legacy to The Leicester Museums and Galleries Development Trust, the Trustees have received permission from Miss Hare's Executors to broaden the scope of the Legacy usage.
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THE LEICESTER MUSEUMS AND GALLERIES DEVELOPMENT TRUST
- King Richard III Visitor Centre Trust
In November 2024, The Leicester Museums and Galleries Development Trust received a transfer of £7,066 from King Richard III Visitor Centre Trust with a restriction that these funds must only be used for applications directly relevant to the King Richard III Visitor Centre.
- Commitments
There were no purchase commitments at 31 March 2024 or 2025.