THE FUSILIERS MUSEUM OF NORTHUMBERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 21 Vnre8trl¢ted funds The unrèslncled funds ol the Trust (xffiprise Ihe unexpended balances of donat￿)nS and grant8 which are nol subject to S￿￿fiC condibons by donors aThJ granlors as to how they may be used. At l January 2024 Incoming Re8ource8 resource• expendod Gains and lo$$es At31 DeCem￿r 2024 Genero1 fundi 132.288 120.4 (78.2441 180.886 Pr•wlou• ye•r'. At 1 January 2023 Incorning ResOUTC•8 ource• •xpend¢d G•lns ond At31 D?c•mhr 2023 GaMro1 lunds 111.188 94,278 (78.145) 4.967 132,288 22 An•ty858 of n•t I￿•ts b•tw••n fund• Unmtrict•d Unr••tricted fund• fund• g•noral d••lgnated 2024 2024 Rtstrlct•d fund• Totsl 2024 2024 At 31 08￿mber 2024.. Tangible assels Inv$stments Current asse¢￿Il￿bI1th*I 1.357 7,869 128.784 155,251 128.784 51,990 77,055 28.2Cfj 180,886 83,455 27,583 291,W4 Unrestrlcted Unr•atrlcted lund* fund* neral de8lgnated 2023 2023 Re•trl¢ted fund8 T¢)tsl 2023 2023 At 31 Decemb•r 2023.. Tangible assels Investment5 Current assetrJlltat41it*81 259 103.825 28.184 1,850 103.825 126,845 75.654 23.C4)7 132,268 82,054 24,857 239,179 23 R•lated party trar￿Ctions There We￿ no diados#tAc TC￿tell party transacti¢￿ duiww thc y¢aT P￿23." N¢Jnel. 21 THE FUSILIERS MUSEUM OF NORTHUMBERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Unr•8trietod funds . d￿ign•t i Msa are unr98t￿le￿ fvnds whk* are malwial 10 Ihe Twusfs aciNibe8. At 1 January IncomlrvJ 2024 rtswrcos Resour¢es ex￿nd¢d Tr•n•fer• At31 De¢eMbor 2024 Awui$ilion FuTrJ Conservation Fund Rglurbi8hment Fund 6,400 11.695 59.360 10.294 199) 82,054 (991 83.455 Pr•vlou• y•ar'. At 1 Janu•ry 2023 In¢omlng R•sour¢• our¢ •xp•nd•d Trnn•fern At31 c•mber 2023 A¢9￿$1t￿on conserv8ts.on Fund Refurblshment Fund 8.40) 16,294 59,360 14.￿9 {1751 80.329 1175 400 82,054 Th• Acquisilion FurKI is applied lo wuire dISp￿Y 8rtides ￿ the regimèntsi colkntin. The proLwdJ ol any minor items di$posed of a￿ ttedrted to lth's fund. and us•d lo make bjrlher a9]ui$l￿.9￿s. svnrf￿￿t disposal woceed$ are alkncat•d to fw*Js 4t Tru$loe$' dwel*￿. The ConseNatKM FurKJ is us•d for the preswvatin of items in the regI￿ts1 cc41ect￿n. In lh• Y￿r. variou¥ amounls have been *xpe￿d for this purpose and have l)een L*arged to this lund attordingly. In pwiou$ years conserva*'on equipment has l)een capjtaltsed Yath the depreC￿tIon ¢thargèd over 5 ye8rs to the ConseNalp)n Fund. The RefiJth$hment Fwhj reprewts donatim$ aThJ transth desyiated tc*•Ards Ihe costs of rèdèYglopTng the museum. Translers ar¢ madè frorn the General FWKI to ts Dewwaknj Fund to ￿)Ver the excess of éXFérnthlu￿ over Income in the year, where appI￿ab￿. THE FUSILIERS MUSEUM OF NORTHUMBERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Rèstrl¢t*d funds (Continued) Prevlous yoar. At 1 January Intdminy resources Rèsourte expended TAnsfer At31 December 2023 2023 Caprtal Endowment Fund Pilgnm Tru81 and MDNE Conservalion Grant Gun Sale Grant IAMOD The Joicey Tru51 Regimental Colours Grant MDNE Fir•am)s Cleanirg Grant Regimental FAS COVID Grant MDNE RecoYery& Oeveloprnènt Granl MDNE Recovery & Oeveloprnent Grant 2023 20.737 20,737 1184) {138) 225 89 I4￿) 1.357 142 1.357 29 1113} 231) 55 3.320 I7￿> 2,590 23.331 3.320 11.394} I4￿) 24,857 Th• Pl&￿M Trust and Museum DeVelopn￿t North Easl IMONEI Con8eNatvJn Grant r¢pre8¢nt$ d￿atIonS mad• towards the ¢nvironrr¢nlal Ir￿ttOring èquimntinl lof thè ftwjwm. Th• Amiy Museums Ogilby Twutyt Gun￿¢ grani rwos•nts ¢J)nabon$ tow*ds the co¥l ol o gun8afg. Thg Joic•y Twst Grant Tepreaents donalKW Iwards makn'ng and dispLqwnq new 9raphic images of the Regirn•ntal CoK)ur8. The Museum Deveh)prnent North Eas¢ IMDNEI granl represents dwtions tthvards the deanlng of fi￿amiS. The Regimental Fusiliers Aid Socw COVID grant rtpros•nts donations towards thè e05t ol the charty continuing its work during thè COVID-19 pand•mic and tha subsaqL*nt rèoFening of the rnu5eurn after na￿'onal lockdowns. The MDNE Recovery & Devebpmerrt oranl represenis d￿ti￿ to a virtual tour Icf the Gharty's website. conseryation supplie$ and an A3 Printer1￿nner. Th• MDNE Recovery & DeVelop￿t Grwl 2023 reprewnts dwtions towards the EPOS to streamline adNits'e5 in the rnu8eum Sh￿ and reoyding of shop sale8. Wtdcw signage, conserva￿Tr and a new laptop. The Wornen in the Fuslliers Pr(4ect Grant 2024 is a (k)naiw twards graph￿ panet$ whi¢* rep￿sent the wornen in tho luwliw8 over tho years and vp to the preeonl d•y. A¢ 31 Oecernber 21Y24 the balartes of Pi19rim Trust and MDNE ConseryatK)n Grant. Gun Safe Grant. The RegKnental Fusil*rs Aid SOC￿ Granl and MDNE Reo)very & tlevelopment Grants rep￿seftt the net book values of those assets purchased wrth the grants receNed. AS those assets are ijepreuated each year the restnded fU￿j b*nces wiu reduce by ￿ depreoation ¢harpJ against unts"l exts"nwished. 19- THE FUSILIERS MUSEUM OF NORTHUMBERLAND NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 16 Stock8 2024 2023 Row rnaterials and c4nsthTraN•s 1,531 17 Debtorn 2024 2023 Amounts falllrtg due v41th1n ono year. Trade debtors ot￿r d8btor¥ Prepaymen18 and acau•d hKom• 971 242 357 261 339 1,310 18 Crndltorn: amounts lalllng due wlthln (w y••r 2024 2023 Other Ioxatson and wdal s•cJJrlty Accnjals and dèfèrrèd inco 4.559 2,875 13,471 3.190 7.234 18.661 19 Ro8trlcted lund• restncled funds of the Trust COM￿8• the umxwded balan￿ ol don8tions aThJ grants hek1 on trust subject io 6pedfic Cond￿On$ by doTh)rs as to hr￿ they may be used. At 1 January Incomlng Re•OU￿*$ TAn8f•rn At31 Docomber 2024 CaFYtal EndK8 for the prep8ralion of the finanp¥ ststements in arurdanco wilh the requirements of CharitiesAd 2011. I rep(rft In resped ol my tsxaminatitin of Il* TNSYS fl*r￿1 statemgnts oul wthr 145 of the 2011 Act. In Car￿n9 out my examirwti¢)n I hwe lollo**d all Ihe aF￿4￿ble Direclion$ 9Nen by the Charty Commi88iOn under seclion 14515llbl of Ihe 2011 Aci. Ind•p•nd•nt •x•mln•f• •tat•m•nt I have coM￿eted my 8xaminats'on. I confirm Ihat no rnatters have txm8 to my attentit￿ kn o)nneclk)n with the eX8min8tion giving ￿￿Se lo teli¢ve Ihat in any Matw1￿ ￿SE￿¢t.. accounting recL)rds were nol kepl in resped ol the frusi as required by aéckn 130 of the Chaiitk*$ Acl 2011. the financial $￿teMentS do Trjt accord with th08e recwds., or the financi81 statements do not o)mpty the aOicaN• rwuir•m•nts ca)num￿9 lh• fomi eont•nl of flnawal slalements sel o¢Ji In the Chariiies (Accounts and Reports) Regulations 2008 olher Ihaft sny equiremenl that Ihe f￿an￿al statemenls we a true and Iw"r view. whth is not a matter tonsklered as part 01 an independent ex*nina￿. I have no other c4)ncem$ and have cLYne aw6s no ots mattern in 1>3nnethn *lth tho examlnatkin to whlth •tt8ntion 8lv)uld be drawn in Ihis reFryt in order to en•ble a proFer ￿T$t￿dIng of th• finandal 81at8mont8 to reached. Colln Fr•m• CA 17 Walkergale 8erwlck.upoTrTweed Northurnbèrland TD15 1DJ 25 April 2025 THE FUSILIERS MUSEUM OF NORTHUMBERLAND TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Statemen¢ of trustees. ￿ponsibl11￿ The Iruslees are resp)nsible for P￿Pall￿ tht Trusi8es' Report aTrJ the finanraal sta¢ernents in 8(xord8nce with applicabk law and United Kingdom Acowntiw Stsndards (Untted Kinqt*Kn Gertr￿1V ActeJed A¢￿￿ntIn0 Practice). The law applicable to thaiiknes in England and wa￿ requi￿ Ihe trustees to prepa￿ finanoal statements for each financial year which gnie a twe and fair view of the stste of affwrs ol the Trust afftl of the incoming resour￿$ and application ol resource$ of the Tnbst f(v Ihal year. In ￿paring these financial statemenls. the trustees a￿ requlred to - setht surtatle accountino poI￿Je$ ond Ihen aprAv lh￿7 conssstenuy." - ob8em the methods and prinrydes in the Charrftes SORP.. . make ludgements and estimates that are (fra￿n￿ and yudunt., - slat• whether applicable acct)unting slandafds lth• b••n fo*Md. 5ubiBct 10 any Material departure5 disdosgd and eX￿ained in the finarKial statements,. and - prt￿r• th• financial stst•ments ￿ tho b0￿￿ unl98¥ it 1$ irwpropriatg lo presume that the c*arily will conllnue In operation. Th• tru51O•S ar• r•sponsibl• for k••p'ng suffitient accounting r￿r￿S that disdo$e vAth re88onabL8 acwracy al any lime the financkil posrtion ol the frust and enable them lo ensure that the financial slalements cornpty %wth the charit￿5 Act 2011. Ihts Charrty (Accounts and Repvrt51 Regulations 2(1￿ and the provision$ of the Tru$1 Deed. They are also ffjspon*ble lor saleguarding the a5set5 01 the Trusl and hen￿ for taking r¢980nabb $tgp$ for th? prevention 8nd detection ol tra¢Jd ond olher imegulaiiti•s. Th• tr￿t••¥' f•POrt w98 4ppro¥•d by th• Board ofTNstw. Mr Ntril Safves•n (Ch&mi￿) Ch¥lrnian 25 April 202S THE FUSILIERS MUSEUM OF NORTHUMBERLAND TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Re88rv88 policy The trustees have revie*ed the reserves ol the Trusl. The re¥w4 ￿sIde￿ the nature of the inrxffle and expenditure strearn5 aTrJ concluded that Ihe reseThe$ held are sur￿￿ni to maintsin and preseNe Reglmenial eolleclion and alk)w the Trust to b8 m8naged eifK*rttly. The tnjstees feel thal the ￿$h at tiank of £154,293 is adequate lo cover irnrnediate n8eds, as rt represents over 6 monlhs of rouline expenditu￿. Fln*ne5al Sustainab511ty ¥Mth visdor numbers as they have been in the lasl few years, tho entrance fe88 earned from AlnWty￿ Casl1• Ventures have all(wed the museum lo maintsin a ￿Thd financial ￿￿￿'0Th. Regular and unscheduled dornationl have added to reseNes. However, inflatKrflary FY8ssures, SFeafKally on wa99$ and salaros, persi81. The mus8Urn 16 vory ￿n8￿0￿6 ofthe *)eed to it6 ttyJre<¥s ofint•mo and to koop a tight ojntrol ofco•ts. Publ1¢ B¢n•fit In considenng the operatbon. achtevem•nt and parfomi8￿• and financ85 01 tha Twst, the trustees are satisfièd that public benefrt has been Pfovided in accordance whh t1￿ Charits•$ Aet 2011 and guidAnt4 provided by th* Charity Cornmiswn. Rl•k revlew The trustees have 8s8ewd t￿ mapy iiiks to *thich lh• Tft*t is èxfftd. oThJ •r• sati#fvd thai 8y5temi ar? In plac* 10 mlllgaie exposuro 10 other m*r nsk8. Ind?￿ndent ex•mln•r• A resolijlion proposing Ihat C. M. Frarne. Partrnr In Greaves ￿ & Ayrn b• r•-aPWnt•d a8 Indopendènt Examiner of t￿TrUst will be pul lo theAnnual General Meeting. Structur•* go¥•m•n¢• •nd man•g•rn•nt Con•tltutl* The Charilablo Tru8t wa8 801 up on 71h Febrnwy 1977 and l• go¥•mod ty lh• t•mi6 of Its D•darallon ofTNtsi. ts$ V8￿rt by s¢heff*s in 1992. 2th1f aThJ r•sohJtion8 in 2CiJ18nd 2018. Oov•rnlng Body The Trust's 8ffaits Ar• undar contrc4 of thè trust•tt, wfv) •r• rèspon11￿? lor all transatt*)ns and matter8 r*ting lo thè Trust. The Duke of Northltmberfand and Ihe Re9imenlal C¢4)nel Nrylhumberland are gx-officao tnjstees There a￿ up to seven ctrwed truslee¥. who ore cwled ty the seryiry trustees. and are 9eneralty 8ppinted for temi ol low years. The trustees bvho served durin9 the yew are os *aled ￿1￿. The Duke ol Northumberland Mr John Arm$trorq Ms Clare Baxter Lady Ifictorkq Percy Mr G. Casle Mr Neil Safvesen Ichaifflwnl Col. A. Gawlhorpe MrAli5dair W￿50n (Retwed 19￿ri12024) THE FUSILIERS MUSEUM OF NORTHUMBERLAND TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustee5 present Iheii report and account5 for Ihe year ended 31 December 2024. The finanaal statements have been prepared in a¢xx)rdarKe with the a(X￿nting poIic4es set out in note 1 to the financial statements and oynply with the Twsfs goveming dcKument. the Charitse$ Acl 2011 and 'Accounling and Reporting by Charit'es.. Statement of RecAYnmended Practice applicable lo thanties preparing their accounts in accordance wrth Ihe FiThancio1 Repr￿￿'Th9 Standard 8Wi¢able in Ihe UK and Re￿￿1¢ of Ireland IFRS 1021. leffe¢iNe 1 January 20191. Obj8¢t1V￿ and activiti The objethes olThe Fusillers MuswJm ol Northumberfand {the Twstl èr•.'- l Tu Ili* 1*gwnenl81 LYAlé¢XiLV), woa*rviiw. ¥of¥yuaidiiN ¥ri¢J di¥Wuyiiy ¥rith¥ l() Ilwii ￿¥¥1 pu¥¥ibl¥ advantage. bl To Apply funds ai Ihtsir dlsp)sal to wuire unrftimis. m•d&ls. Frfdurès. books, manukfipts, maps, ¢kxJJmonts and other articles 5uilable lo enhance the co118Cth?n. ¢} To uph&A thè trAditierts of thè R•gim•nt. Th• trusioos havè pall du• rngard lo gU￿￿tin¢? iwed by the Chaiity cornrnl$s￿￿ in dwding what a¢ty'Yrtie$ th T1￿￿ ¥IM)uld uiNl¥iiak*. Achievement8 and perfonn#ne• Revlew of o¢tlvltl 2024 saw another good yearfor visitor ThJmb•rn with th8 museum r8cordiThJ 101.39J visitorn duriw AInw￿k Castle, opèn season frorn Marth to Octobtr. This w85 a rnC4Jest inc¥ease over the previou5, very successful year bul repr*5•nleé thtr highest daity av•rag• lor ovèr a dècade. The holiday month5 of July and August were again the strongost. f•lnlordrwJ th• inwtsnc• of tho farnity audienc•. Th? small shop ￿ th* rnus¢um al89 had another good year. In addition to the permanenl dispk8ys. Ihere were several aes$4ons run lor the benefil of brAI schools and loc41 history groups logelher wth regular objecl handling sess￿n$ at the museum during the season. It is an area that Ihe musèum should continue to devek)p are 10 rema¥1 relevant and interè5tirrfJ to a youngtr oud*neè. Ay evèr, thè mus•um is grateful to lh• staff and volLmte•r t•am who supp)rt th• rnnning •v•ni8. During 2024 work progressed on the project lo intrthjuce a new display charting the d)anging role ol Wbmen in the Fusiliers which the museum WAII have in ￿ace for the 2025 season. In 8d¢Jits"on. the museum trialled 8 shooting simulator on a sale t¥ rtsbjm basis. This proved to b• a Ky¥ular addilitin and afy)thor sourcè of inc0rn8 and, follLw4lng Ihe PlQVi5K>nal ￿p￿D¥￿I of LhE Iruslee5 ublainBd at thB End of last year. the museum has proceeded wllh it5 in51allath?n ￿ the Upt￿ng se810n. There were some mainten8nce and ￿n0Vat￿n projects whKh the nwseum took forward In 2024. notably the long outstandirrtj repair lo the fi￿ delectv)n syslem the ￿p1a￿Tr￿n1 of the fire suppreSs￿)n gas cylinder In the archNe 0￿. Some of the assooated costs wll be iTh%rred during 2025. Also. the MOD support for tsur phone syslem was wilhdrwn bsl year and. afler some disrupts)n. Ihe museum has arranged ils own contract for a digital phone system. FlnanGlJl revlew The 51atement of fina￿81 actNdiès lor thè y•ar 15 581 rrtrt on p8ge 5. This stbyws a surplus for the year of £52,724 12023 £24.3511. Nel assets ol Ihe Trust at 31 Decern￿ 2024 wefe £291,9)4 12023.. f239,1791 of whK* £27,￿3 were capital endtyvment funds12023.. £24.8571. THE FUSILIERS MUSEUM OF NORTHUMBERLAND CONTENTS Pa9• Trustees. rèport Ind8P8ndent exarningrf$ fgFryI Stalgrnent of finanual aL%ivities BalanrA shget Note$ io tho fmwl 8tatgm•nts 8.21 THE FUSILIERS MUSEUM OF NORTHUMBERLAND LEGALAND ADMINISTRATIVE INFORMATION Trttste8s Mf J. Armstrong Iresgned as Chainnan arKI trustee on 19 April 20241 Ms Clare Baxter Mr G. Cas¥• Lady v￿lO￿a Percy Mr N. Safvesen lappThnted Chainnan on 19 April 20241 MrA. Imlson Ex-offl¢lo Trust•o• The Duke ol Norf￿￿*￿[18nd Col. A. G Ch*rbty nurnb•r 273064 PrIn¢l￿1 addmi The Abbtsfs T¢y4ver Morthumberfand NE66 1NG Ind•p•n(l•nt •x•mln•r Coliri Friirne CA 17 Walkergate Be￿￿k.UpOn-Tw••d Northurnterland TD151DJ Charity registration number 273064 (England and Wal881 THE FUSILIERS MUSEUM OF NORTHUMBERLAND ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024