Alwells & Mendip
Trymuseum
WELLS MUSEUM
FINANCIAL STATEMENTS
31 December 2024
Registered Charity no. 1204396
8 Cathedral Green
Wells
BA5 1UE
www.wellsmuseum.org.uk

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD {7 MONTHS} ENDING 31 DECEMBER 2024
Contents
Page
Legal and administrative information
Annual Report of the 8oard of Trustees
Independent Examinerfs Report
Statement of Financial Activities
Balance sheet
Notes to the Financial Statements

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
Legal and adminlstrative infonr¢ation
The Charity is a Charitable Incorporated Organisation (CIO). Itwas registered on 171h
August 2023 and started tradingon 1"June 2024 with fundstransfefred from the
predecessor charityTheWells Museum (No. 200738).
The Charity is also knowm asTheWells & Mendip Museum.
Wells Museum is an Accredlted Museum undertheArts CouncllAccreditatlon
Scheme. The Museum is also a memberoftheAssoci8tion of Independent
Museums
Board of Trustees
Chairnian
Sue Isherwood
Honorary Treasurer
Tim Riichie
Trustees
The Tfustees of the Museum during period ended 31 De￿rnber 2024 were:
Appolnt•d Resigned
2610912023
2610912023 1311112024
2610912023 1211112024
2610912023 1211112024
1211112024
1211112024
1211112024
1211112024
1211112024
1211112024
Sue IsheNiood
Simon Armstrong
Bruce Scobie
Manlyn Cattell
Tim Ritchie
Linda Armstrong
Tanya Tyreman
Jane Burman
Paul Willshire
Cryslal Johnson
Honorary Curator
David Walker
Honorary Llbrarian
Stuart Andrews
Curatorial Advlsor
David Walker
Bankers
Lloyds TSB plc
COIF
Wells. Somerset
80 CheapsKle, London, EC2V 6DZ
Independent Examiner
Geoff O'sullivan

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
R8POrt of the Board of Trustees
The Museum was founded in 1893by Herbert E Balch with the vision of"maintaining a
Museum for the benefit ofthe public ofthe Cityof Wells and the Mendip area and
advancingthe education ofthe public in the conservation, protection and improvement
ofthe historical and natural environment ofthe Wells and Mendip area."
Thisvision remains at the core ofthe Museum's activities and we are still guided by our
founder's principle to'search and Learn."
The Museum is situated on
Cathedral Gr8en,
occupyingwhat was once
the Cathedral Chancellor's
house which is Grade 2
listed and at the very heart
of the city, close to the
marketplace. the Vicars,
Close and the Cathedral
itself.
The Museum is currently
visited by 3,500 people a year. In addition, our lecture hall hosts multiple community
groups on a regular basis and is available for private hire. whilst our stunning exhibition
gallery is mostly booked out attractinga further 2.000 visitors. We also host regular
school visits though these are recorded at a group level.
The Museum tells the story ofwells. the Mendip landscape. and its inhabitants.
Specimens of local geologyand archaeologyfeature in the displays, as do social history
artef8CtS and samplers. It has an informative website. and 8 social media programme
using Facebook and Instagram.
The Museum helps to foster 8 sense of local identity. In our case quite literally as it
contains an archive of the city's past. We offer residents and visitors alike a deeper
understanding oftheir shared heritage. The Museum also acts as an education resource
foryoung and old alike."Why does waterflow along both sides ofthe High Street? Why
are there so many people of Italian extraction living in Wells? Who was Harry Patch?
What is an ichthyosaur?"Whywas Mendip so importantto the Romans? These are the
sort of questions that are asked and answered when people visit us.

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
As well as being a Museum we are also a meeting place. We have a Lecture Hall, an
exhibition space, a meeting room, and a garden. Allare used bythe community with
groups as diverse as the Wells Natural History & Archaeological Society IWNHASI,
Wells Men's Breakfast. Several U3Agroups and local Rotary making regular use of the
facilities.
Regardingequity, diversity & inclusion, we have recently completed an access audit to
identify howwe can better
accommodate people with
either learning or physical
disabilities. Through our
recently completed Heritage
Lottery funded Seach & Learn
project, we have run
programmes specifically for
those with mental health issues
in partnership with local charities. Heads Up and the Lawrence Centre.
We aim to develop community led exhibitionswith local interest groups, such as Wells
City Band. Avery popular recent exhibition featured the Italians in Wells and explained
how many prisoners of war decided to put down roots locally ratherthan returning
home at the end of hostilities. We are also workingwith WNHAS. the Cathedral and the
Wells & Transatlantic Slavery Group to put on a public education programme. for
instance, we hosted a talk on"The Red Gold of Africa Benin, Brass, Bristol & Slavery."
We workclosely with other interested parties to serve the needs of local communities.
The connection to WNHASgoes backto the Museum'sfounding in 1893 and the society
holds a programme ottalks in the Lecture Hall, 8swell as providing a representative to
sit on the Trustee Board.

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
Independent Examlner's Reportto thetrustees of Weus Museum
I report on the accounts ofwells Museum forthe period ended 31 December 2024,
which are set out on pages 6 to 20
Respectlve responsibblities of trustee and examiner
The Charity's trustees are responsible torthe preparation ofthe accounts.
The Charity's trustees consider that an audit is not required forthisyear under section
144121 ofthe CharitiesAct 2011 and that an independent examination is sufficient
It is my responsibility to:
examine the accounts under section 145 ofthe 2011 Ch8rities Act
to followthe procedures laid down in the general Directions given bythe Charity
Commission under section 145{5)(bl ofthe 2011 CharitiesAct
and state whether particular matters have come to my attention
Basis of Independent Examlner's Report
My examination was carried out in accordance with the general Directions given bythe
Charity Commission. An examination includes a review ofthe accounting records kept
bythe charity and a comparison of the accounts presented with those records. It also
includes consideration of any unusual items or disclosures in the accounts, and
seekingexplanations from you as trustees concerning any such matters. The
procedures undertaken do not provide all the evidence thatwould be required in an
audit and consequently no opinion is given asto whetherthe accounts present 8"true
and fairview" and the report is limited to those matters set out in the statement below.

WELLS MUSEUM
FINANCIAL STATEMEMrs
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER2024
Independent Examiner's Statement
In connection with my examination. no matter has come to my attention".
which gives me reasonable causeto believethat in any material respect the
requirements:
a. to keep accounting records in accordancewith section 130 ofthe 2011
Charities Act: and
b. to prepare accounts which accord with the accounting records and
comply with the accounting requirements ofthe 2011 Charities Act have
not been met: or
2. to which, in my opinion, attention should be drawn in orderto enable a proper
understanding otthe accounts to be reached.
Quallflcatlon statement.
Examination otthe accounts has led meto a concurwith the Board ofTrustees
reg8rdingthe charity as a goingconcern. The charity currently has unrestricted fund of
around £37.000 and at current rate of cash outflowc8n continue to function until
approximatelythe end of 2026.
The charity had recognised this situation priorto my examination and have put in place
8 recovery plan actively supported by the full board.
In my opinion the recovery plan is realistic. Ifthe plan is executed as currently stated
the charity will 8chieve a stable financial position.
Name
Signed
Date

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD {7 MONTHS) ENDING 31 DECEMBER2024
These financial statements are presented usingthe Accruals accounts packs (CC171-
SORP 2005 set out on the charities commission website
A¢¢ruals accounts packs ICC171- SQRP 2005- GOV.UK
The following notes are not included asthere are no entries andlof the items covered
are not applicable.
Note 5
Note 7
Note 8
Note g
Note 10
Note 13
Note 15
Note 16
Note 17
Note 21
Note 22
Donated goods. facilities and se￿iceS
Extraordinary items
Funds re￿iVed as agent
Support Costs
Details of ￿rtain rtems of expenditure
Grantmaking
Intangible assets
Heritage assets
Investment assets
Provisions for liabilities and charges
Other disclosures for debtors, creditors and other basic financial
instruments
Contingent liabilities and contingent assets
Fair value of assets and liabilities
Events after the end of the reporting period
Transactions with trustees and ￿lated parties
Additional Disclosures
Note 23
Note 25
Note 26
Note 28
Note 29

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
IHARIIY COMMI5510N
FOR ENGLANO ANO WAiES
Char*y Namp". We15 arwj Klpndy Mus•w
Ch31rfy
12043961
Annual accounts for the
To
emd
01-Jun44
oate
31i1écQ41
Section A
Statement of fi nancial activilies
Recommended Gategoil*• by
aclivity
Uhresirl¢ted In¢omt Endown•ni
lunds
funds
lund5
Prior year
Totsl fund*
Incoming res{￿r¢e$ INol• 31
F01
F02
F03
F04
F05
5.424
14.839
12.￿5 r -
49.496 T 424.744
32.821
38.245
14,839
12,505
474,240
Toial
R•sourc•s txpend•d (Note 61
EwndItur•¢￿'.
458.162
1.n4 r
15.$88
28.$07
14.071
s9.￿1
1,734
Cn•n1**4¢tsyll1•
1,626
810
77.411
14,071
110.431
Tot•1
$12
Net Incomellexpendlturel b•for• Investm￿1
9alnslllossesl
$13
Mèt incomellexpenditurn)
Extraordlnary it*ms
Transfeys belvjeen funds
Other recogni5ed galn$lllMs•sl:
$15
429.994
S16
811
Ilei ￿￿VeMentIn lunds
407,032
429,gk4
Reconclllatlon of lund8.'
Tolel funds corFled fonvanl

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD (7 MOMtHS} ENDING 31 DECEMBER 2024
Chaiily
1-04396
Annual accounts for the per*)d
Section B
Balance sheet
P￿ltyj Et4rtdats". l Jw 2024
TO￿￿j dÈte 31 Dec*mber 2024
VTrr••trlcW ED¢o￿TrIrt Totslthh Totsl
Flxtrd a$s•ts
FOI
F02
FO3
F04
FOS
IP4Jt• 1S1
Tinglble assqll
NfrritagF a•g0ts
315.214
315.214
{Not• 161
INDt• in
31&214
315.214
Curn•nt 418ots
$locki
Dobtor•
1•1
(Not? 191
1.967
In¥•8lmenl•
IF4ot• 17AI
¢Mh at b•nk and In hnd INot• 24)
Tot•l¢wv•nt•M•ts
102.9J2
102.SJ2
139.
145.328
42.a24
Cr•dltorn.' *m¢￿r￿lI11n9 du• oth•
ywr
INrJl• 2W
30.545
12.279
102.502
114.7
12.279
417.718
Credltorn.. •mouht•fallw du•4i•roh•
yNr
(Not• X+l
PrOV*￿nI for1￿bIlItI9*
Tot•lnot•88ets orll•bMI
417,716
Funds of the Charlty
End¢)WMOlIt lund• (Noto 271
Un*o•trt¢i•d funds
Revalulltlon
29.980
Falrv•l¥• r•wN•
29.
Thomemb￿S h•v*notrnq￿Cdth•¢aff￿￿yto 4￿￿￿•¢¢¢?￿•￿¢+￿ffi s*¢w￿l70 ¢lth• eomynlfrs Act2thX
rqglnr• KC0th￿Q*71￿FRsftrlS&PP.
Dth ofappio
ddim
R*rJ¥e
T￿￿RI￿￿4•

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
1.1
FR&l￿-
i.Z
Y*

WELLS MUSEUM
FINANCIAL sTATEME￿[s
FOR THE PERIOD {7 MONTHS) ENDING 31 DECEMBER 2024
PRAC￿£
10

WELLS MUSEUM
FINANCIAL sTATEmE￿s
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
rT)
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WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD (7 MONTHS) ENDING 31 DECEMBER 2024
*¢k**.'
In
TLN
•ClhlUw.'
042
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14
fXh•riTrJl
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In¢om• Ir¢dm
In¥Htsn•Trts.'
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TOTAL IN¢¢XIE
OthwSnforrn4*cth:
I lTrrom•lTrth•prfw
thln th•lncorn• knn••buY•th•foMa*thg
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12

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD {7 MONTHS) ENDING 31 DECEMBER 2024
Scttion C
Notes to the accounis
Analy•l• (rf oxp•ThJItw•
L•¥ty•¥
no•
I￿u￿ed Jee*￿g
Wkwlg Iya•$
IrKurred
'OporAbng
cKql lotteries
fL￿r￿sir*j
|OFw*n9¢hority*
IotyJrThting tttr&irwJ ¢￿1p•￿
iunderbkiry ncTrchanlatrkntrthJno
,A¢l¥*fbslng. m•rt•lr4 dlrnth rn•ll*Ni
stsrt UP in g•w•br¥
nth¥ ￿UT￿OrIu1LyQ Ir¢crfn
Otrwtr&dlnq 4c1￿1
InwAbii•rrt CfAt&'
Portlc410 mlln4omeniDx
coslol0tthn￿q Inw¥trn￿t1thle4
,Ilii
Rwi •r
Totil•Ap•ndStum•n ￿ ly
15.574
14
17,074
140
Litsorywpen
T+Jtsl•xp•nthturnonclbwlt•b
b¥*l•B
EBtabli¥hmoni
Adminislr4bon
7.5
11.888
19.191
21,fy)8
T&*•1
Utilibej
hsurunce
Ctsyèè Mxhi
iation
Tftsl othwQxpend￿￿e
TofNL EXPÉNDITURE
732
14.071
110,431
To*￿ th
support
TOt&i iut
y•
6lrw¢ty
t¥vl
IOlhÈr
Tr￿1

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
T￿*11
£1
14

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
Soctioii C
Note5 to tlTre 3CCOUlits
Icontl
Note12
Delbned contribution pengion ￿herne or defined benefit scheme accounted for as a
d•llngd contrlbutk>n 8cheme.
Thlb
12.2 Pl••se cL¥n&rfe¢e th18 jortlon wlw• th• ehwftyp*iid•kn•dBIlnBdlJw￿tw￿￿pl0ftts￿l8 un•bl• to
scertaln 118 slw• oftho t￿YIng •s#•ts
Pl•as• conllm) afthowJh iho ¥lwn•
1$ ¥c¢ountgd l*y¥s a dofinod
WA
plawL
Pl•#• prcNldo •uch Ilknmth ••
avalkthlo •b¢wJtth• pknn'* surpk• or
and th• IN)Icalkry Il*ry. fortt*
repjrung chartylrythl• ltti
ar. W dwferent
t23 Pl¢•96 thls soctkn where thèchwltypwtldp*O In • ￿￿&￿(1•nn•dl)¥Jmfftp￿$lOn iknl
OeBcrfbe ts •xtgnttowN¢h th• th•wty
obl*tlons under the tsmm and
ofth• mulk•m*rn plawk I
Ihb Is drfl8rnnt for ksi y•ar, w￿lde
NIA
Provlde an •xp*natkn of any
Ilthlly wiswig frthn an agrwThrtwlh a
muttknpknyer pkn to ha5
Ixen dBtsrminBd l Js (uifww#f(Y
siyear. provkle deta115
15

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD (7 MONTHS) ENDING 31 DECEMBER 2024
T4rWt• flx•d4M•ts
1&1 CoxlDrv4*
In
OX173
AttAIIo
•T
2•7.2$9
1&Str1rtbDDkv￿
311211
l&• knp•bwr4
1&0 R•vdu#knn
Lmt
16

WELLS MUSEUM
FINANCIAL sTATEME￿rs
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
Section C
Notes to the accounts
(conti
Note 18
Stocks
Pltr￿e compl•ts this note rfthe clwityholds any stock It8ms
18.1 Please Slate the carrylng amount of stock and work In progress anatysod bet￿n activltles.
Stock
Donated goods
Work In
progresB
For
distributk
For rnsale
For
distributlon
For resale
Charltable •ctlvlfjM:
Oponlng
Added In pwkKI
3,893
Expons•d In pgrlod
Imylrod
Closlng
Other tradlng actlvltles:
Op•nlng
Added In pwknd
Expens•d In porlod
Imp•lr•d
Clo¥lng
Other:
Addgd In porlod
Imwlred
Closlng
Total this year
3,893
Totalprevious year
Thls y￿r
Last year
18.2 Please spoclfy the carrylng amount of any
stocks pledged as security for liabili
17

WELLS MUSEUM
FINANCIAL STATEMENTS
FOR THE PERIOD {7 MONTHS) ENDING 31 DECEMBER 2024
Section C
Nrites to the accounts
Icontl
Not• 19
Dobtors and w•payTnonts
Please complote thls not• Mthe chorityha5 any
19.1 Analy•l• of d•btorn
Thbywr
Last ￿•r
TMd• d•btorn
1,967.2
Pr•paym•nt8 and acenwd Incom•
Oth•r dabtorn
I,￿7.2
Totsl
19.2 An•ly•lJ of dobtorn lBegvor•￿ ITr mor• than l y•ar Ilneknl•d In d•btorn above)
Th1• y•ar
Last
Tr¥d• dobtgrn
Prepayfflent8 and *e¢ru•d Ineom•
Othar dobtors
Totsl
18

WELLS MUSEUM
FINANCIAL sTATEmE￿s
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER 2024
Sectitsn C
Notos to the accounts
Icontl
Note 20
Cfeditors and accru•l¥
20.1 Am*1￿11 ofcr•dltorn
Amoynl• l•lling duo within
on• y•ar
L••ty••r
Jnounts falling du• aft•r
moro than ono yoar
This y￿r
La8tyoar
crual• forgr4fits pay•bl•
Bank loan8 and 0¥•￿11ft$
Trnde Crndltorn
3.193
P8yrnonts recolvod on 4e¢4)untfore•ntr•¢ts or
Pgrformanco.r•latsd grants
¢ruah and def•Trd incom•
Taxatlon and ￿¢111 ••euilty
Oth•r ¢r•dltorn
27,352
Totsl
20.2 D•tsrrnd Incom•
l¥e•s• comple1• th1$ not• ff th•¢h•ityh•s d•l•ff•dAIwrn.
La•t
pl￿$• •xpl•ln th• r••son¥ *thyl￿oM• 13 d•fwrn
yo*r
•t y••r
B•lan¢o *tth• •1•rt of the rnporflng wlod
P4nount• •dd8d In cufrnnt p•rfod
Èalance at tho end of the rnportlng period
Silction C
Note5 to the aCCOLllits
14)t• 24
Ca•h at bank and In hand
yo•r
Lut ymr
Short t•mi eatrh InvoBM•nkn I1•￿ 3 montt* mattwtty
short tèmi doposSts
Cash at bank and on h•NI
Othor
Tolal
1tr2.YJ2
139.466
19

WELLS MUSEUM
FINANCIAL STATEMEWS
FOR THE PERIOD17 MONTHS) ENDING 31 DECEMBER2024
Not•27
Chv
F￿Thd
ItotUR"
J4iir
IL*rnryFuM
11 ltyj
T*F¥
20