Charity reglstratlon number 273064 (England and Wales)
THE FUSILIERS MUSEUM OF NORTHUMBERLAND
ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
LEGAL AND ADMINISTRATIVE INFORMATION
Trustses
Mf N. Salvesen {Ch8imanl
Ms Clare Baxtèr
Mr G. Cast18
Lady Victoria Percy
MrA. Wlson
MrA. McLaughlin
Exaofficio TN$tees
The Duke of Northumbedand
Col. A. Gawlhorpe
Charity number
273064
Principal address
The Abbot's Tower
Alnwick Castle
Alnwick
Northumbeiland
NE66 1NG
Indèpendent examlner
Colin Frame CA
17 Vvalkergate
Berwick-upon-Tweed
NorthLtmberland
TD15 10J

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
CONTENTS
Page
Trustees. rep¢)rt
Independent examinerfs report
Slalemenl of ffinancial a¢tivilie5
B818nce sheet
Notes lo the finandal statements
8-21

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2025
The trustees present their report and accounts for the year ended 31 De￿rnber 2025.
Th& financi&l 5tatemcnts have been prepared in a¢cordanee wrth thè accounting policies set out in note 1 to the
financial statements and comply with the Trust's governing document, the Charities Act 2011 and "Accounting and
Reporting by Charities.. Statement of Recommended Practi￿ applicable lo charitiès prÈparing their aeeounts in
accordance with the Financlal Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021"
leffective 1 January 20191.
Objectlvès and activltlws
The obSectives of The Fusiliers Museum of Northumberland Ilhe Trust) are:.
al To hold the regimental collection, preSe￿ing. safeguarding and displaying the articles lo their best posslble
advanlage.
bl To apply funds at their disposal to a￿ul[e uniforms, medals, pictures, books. manuscripts. maps, documents and
other artides suitabl8 lo enhance the collection.
cl To uphokj the traditions of the Regiment.
The Iru51ees have paid due regard to guidance issued by the Charity Commission in deciding what activities the
Trust should undertake.
Achievèmènts and pèrfornianc•
Review of activitiès
Although slighlty below the record leve15 of 2025, the rnuseum had another good season with visitor numbers
exceeding 98,500. The school holiday months of July and August were again the busiest, reflecting the importance
ofthe farnity audience.
Our new 'Womon in the Fusiliers. display. supported by a grant from Museum Development North. was an
important addition to the museum in 2025. We collated very favourable feedback from visitors. The small museum
shop also had another excellent year, and we will airn to develop our retail offering despite the physical spa
limitations. Incorne was supplèmented further by the first full year of the shooting sirnulator installed on a trial basis
in the previous year - rt proved lo be a great success. We also conlinued lo offer a valued iesearch service for
people wanting lo know more about the past involvement of thèir (amily members in the regirnent.
One of our key objectives Is lo connect with different audiences of all ages and backgrounds, and our voluntèers
helped 10 5UPPOrt variou5 events both al the muséum and in the community. The 801h anniversary of VE Day w35
commemorated with a VVVMI object handling presentslion at the museum. and participation in a Teddy Bears. picnic
al RAFA House in Rothbury in collaboration with the Royal Britssh Legion. Volunteers also took part in Armed Forces
Day at Bents Park in Souih Shields in June. At the beginning of November, the Royal British Legion again inirited
the rnusÈum volunteers lo present Remembrance Workshops al schools in the Rolhbury area. Several other
sessions were run for local schools and lo¢al history groups.
01 course, we are very grateful for the efforts of staff. including the seasonal Front ol House team. and all the
volunteers who continue to make the rnuseurn inlereslin9 and relevant lo $0 many different people.
Financial rèview
The stalemenl of financial activities for the year is set out on page 5. This shows a surplus for the year of £9.549
{2024 £52,724).
Nel assets of the Trust al 31 December 2025 were £301.453 12024.. £291.904} of which £22,702 were capital
endowment fvnds12024'. £27,563).

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
TRUSTEES, REPORT (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2025
Reserves policy
The Iruslees have rev¢ew8d the reserves of the Trust. The review considered the nature of the i￿ome and
expenditure streams and roncluded that the resetves held are sufficient to maintain and preserve tIiE Regimental
collection and allow the Tru511o be managed efficAenlly. The trustèe5 feel that the cash al bank of £148.259 is
adequate lo covèr immediate needs. as it represents over 6 months of routine expenditure.
Financial Su$tainability
Some larger items of rnainlenance and refurbishment expenditure were incurred in 2025 but, with reasonable
income from variou5 sources, reserves remain heaithy. However. the economi¢ outlook for the tourism sector is
Un￿rtain with con51rainls on family budgets and continuing inflationary w955ure5 affecting tha musgum's cost
base_ In these cArcurnstanc•s the trustees aro awarè of the need to manago r*$ources prudènuy.
Public Benefit
In considering thè opeTation. achievement and performance and flnan¢es of the Trust. the trustees are satisfied Ihal
public benefit has been prowded in aceordanTr with the Charities Act 2011 and guidance provided by the Charlty
Commission.
Risk revièw
The trusteès have assessed the major risks lo which the Trust is exposed. and are satisfied that sy$iems are in
place to mitl9ate exposure to other major tisks.
Independent examlne
A resolution proposing that C. M. Frame, Partner in Greaves Wesl & Ayre b9 re-appointed as Independent
Examiner of the Trust will be Plrt to the Annual General Meeting.
Strueture, governance and management
Constltutlon
Thè Charitable Trust was set up on 7th February 1977 and 1$ governed by the terms of its Dedaration vl Trust, as
varierl by schernes in 1992, 2001 and resolutions in 2001 and 2018.
Governing Body
The Trust's affairs are under control of the Iwstees, who are responsible for all transactions and matters relating lo
the Trust. Thè Duke of Northumberland and the Regimental Colonel Northumberland are ex-offiao trustees.
Thertr are up lo seven cmpled Iruslees, who are co-opted by the setving trustees. and are generally appointed for
a term of four years.
The trustees who Se￿ed during the year are as Staled below..
The Duke of Northumberland
Ms Clare BaxteT
Lady Victoria Percy
Mr G. Castle
Mr Neil Salvesen (Chairman)
Col. A. Gawthorpe
MrAli5dair Wilson
MrA. McLaughlin
(Appointed 21 Novembèr 20251

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
TRUSTEES. REPORT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Statsm•nt of trusts¥s' résponsibilities
The trustees are responsible for preparing the Trustees. Report and the finan¢ial statements in accordance with
applicabl• law and UnitÉd Kinodom Accounting Standards {United Kingdom Generally Aecepted Accounting
Praclicel.
The law applicablè to charities in Endand and Wales requires the trustees to prepare )InancAal statements for each
finanaal year which give a true and fair view of the slate of affalrs of the Trust and of the incoming resources and
application of resources tsf the Trust for that year.
In prepamg these ftnancial 51alements, the Iruslees arè required to..
s818et suitable accounting policiÉ*s and then apply them consistèntly.,
observe thè methods and pdndples in the Charities SORP..
make judgements and estimates that are reasonabb and prudent..
st*e whether applicable accounting stsndards have been followed, subject to any matersal departures disclosed
and explained in the financial stalements; and
Prepa￿ the financi81 stslements on the going concern basis unlèss It Is inappropriate to presume that the charity
will continue in operation.
The trustees are responsible for keeping suifiaenl accounting records that disclose wlh reasonable acwracy al any
lime the financial position of the Trust and enable them lo ensure that the financial statements comply with the
Charities Act 2011, the Charity IAccounts and Reports) Regulations 2008 and the prowsions of the Trus( Deed.
They are also Tesponsible for safÉguarding the assets of the Trust and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
The trustèes. report was approved by the Board of TtU5leES.
Mr Neil sa￿eSen (Chaimanl
Chairman
24 April 2026

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF THE FUSILIERS MUSEUM OF NORTHUMBERLAND
I report to the Iruslees on my axaminalion of the ffinancial Slalemenls of The Fusili&rs Museum of Norlhumberfand
(the Trust} for the year ended 31 December 2025.
Responslbllltle$ and basis of rèport
As the trustees of the Trust you are responsible for the preparation of the financial statements In accordance with
the requirements of the Charities Act 2013.
I report in respect of my examination of the TNst's fjnancial slalements carried out under section 145 of the 2011
Act. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission
under se¢lion 145{5llbl of the 2011 Aet.
Independent examlnè¢s Statement
I havè cornpleled my examination. I confirm that no matters have come lo my attention in connection with the
examination giwng me cause to ￿lIeVe that in any material respect..
accounting records were not kept in respect of the Trust as required by section 130 of the Chafilies Act 2011.
the financial statements do not accord with those record5', or
the financial statements do not Comply with the applieable requirements conceTning the form and content of
financial statements set out in the Charities (Aecounls and Reports) Regulation5 2008 other than any
requirement that the financial 5talemenls giv6 a true and fair view, which is not a fflatter considered as part of
an independent examination.
I have no other concems and have come acros$ no other matters in connection with the examination to which
attention should be drawn in this report M) ordèr lo enable a proper understsnding of the financial statements lo be
reached.
Colln Fram? CA
17 Walkergate
BeTwick-upon-Tweed
Northumbèdand
TD15 1DJ
24 April 2026

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Currant financial yèar
Unrestricted Llnre$triGted
fund$
funds
general d•slgnatèd
202S
2025
Rèstrict•d
funds
Totsl
Total
2025
2025
2024
Notss
Incom• from:
Donations and lègaaes
Charitabte actiffities
Other trading activities
Investments
13.091
66.035
19,559
3.403
2.500
436
16,027
66.035
19,559
3,403
42,463
65.524
15,631
2,302
Total in¢omè
102,088
2,500
436
105.024
125,920
Expèndliure on:
Raising funds
Charitable activities
11,888
82.169
11,888
88.502
3.869
75,693
126
6.207
Total expenditure
94.057
126
6.207
100,390
79,562
Nel gains on investments
12
4,915
4.915
6,366
Tr8n$f¢is between funds
19101
910
Net movèment in fund$
11.126
2,374
14.861)
9,549
52,724
R•conGiliation olfunds:
Fund balances 811 January 2025
180,886
83,45S
27.563
291,904
239.180
Fund balancès at 31 Decembef
2025
192,922
8S,829
22.702
301.453
291.904
The statement of fjnancial activities includes all gains and losses recogni5ed in the yÈ8r. All income and Èxpèndl￿re
derivè from continuing 8¢tivitses.

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
STATEMENT OF FINANCIAL ACTIVITIES (CONTINUED)
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2025
Prior financial year
Unr•$tricted Unrgstrl¢tsd
funds
funds
géneral designated
2024
2024
Restrtcted
funds
rotsl
2024
2024
Nots8
Incom& from:
Donations and legacles
Charitable activities
Other trading acliwties
Investments
37.039
85.524
15.631
2,302
1,500
3.924
42.463
65,524
15,631
2,302
Total Income
120,4
1.500
3.924
125.920
Expenditure on:
Raising fLJnd5
Charitable activities
3.889
74.375
3.869
75,693
99
1,219
Total expenditure
78.244
1,219
79,562
Nel gains on investments
12
6.366
6.366
Net Incomè and movement in lund
48.618
1.401
2,705
52,724
Re¢onciliation of funds..
Fund balance5 al 1 January 21Y24
132.268
82,054
24.858
239.180
Fund balancès at 31 December 2024
180.886
83,455
27.563
291,904

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
BALANCE SHEET
AS AT31 DECEMBER 2025
2025
2024
Notes
Fixed asscts
Tangibl8 assets
Investments
14
15
14.075
133,380
7.869
128,784
147,455
136,653
Current a$$gts
Stodis
Debtors
Cash at bank aiid in hand
16
17
2,472
14,237
148,275
5,529
1.310
155,646
164,984
162.485
Creditors: amounts falllng due within
one year
{10,9861
17.234)
Net current assets
153,998
15S,251
Totsl assets les5 Gurrent liabilitie5
301.453
291.904
The funds of the Trust
Restricted incorne funds
Unrestricted furKls- general
Unrestdrted furKls- designated
19
21
20
22.702
192.922
85.829
27.563
180.886
83.455
301,453
291,904
The financial slalements were approved by the trustees on 24 April 2026
Mr Neil Salvesen Ichairnianl
Chaimlan

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2025
A¢¢ounting pollclos
Charfty S￿￿￿natIon
The Fusiliers Museum of Northumberland is a registered charity with the Charities Commission. which is
administered by ils own governing documents.
1.1 Accounttng ¢onvention
The financial statements have been prepared in accordan¢e with the Trusls governing docurnent, the
Charities Act 2011, FRS 102 °The Financial Reporting Stsndard applicable in the UK and Republic of l¥eland
C'FRS 102.1 and the Charities SORP 'Accounting and Reporting by Chaiilies.. Statement of Recommended
Practice applicable lo charitiès preparing their a￿o￿ntS in accordanee ￿t￿ the Financial Rèporting Standard
applicable in the UK and Rèpublic of Ireland {FRS 1021" leffective 1 January 20191. The Trust is a Public
Benefrt Entity as defined by FRS 102.
The Trust has taken 8dvantsge of the provisions in the SORP for charities not to prepai¥ a Statement of Cash
Flows.
The financial slalernents are prepared In sterling, which is the functional currency of the Trust. Monetary
amounts in these financial statements are rounded to the nearest £.
1.2 Golng Concern
At the time of approving the financial statements. tha trustees have a reason8ble expectation that the Trust
has adequate resources lo continue In operational existence for the foreseeable fulure. Thus the trustees
continue lo adopt the going c¢ncem basis of ac¢ounling in preparing the financial statements.
1.3 Charitsble funds
The Genèral Fund is an unrèslriLt8d fijnd which is avallable for use al the discretion of tha trustees in
furthoran¢e of the general objectives of the Trust.
Oesignatod ftjnds comprise Un￿Strided fvnds which have been set aside by the trustees for particular
purposes. The aim and use of eath designated fund is sel out in the notas to the financial slalements.
ReStr￿ted funds are funds whieh are lo be used in a¢¢ordance wlh spe¢ffle restrictions imposed by donors or
which have been raised by the TNSI for particular purposes. The cost of raising and adminislefing such fijnds
arè Charged against thè Specific fund. The aim and use of each restricted fund is sel OLrt in the notes to the
rinanrAal statemènts.
Endowment funds are rèstricted capital funds, whlth rnusl be held indefinf(ely, and where there is no power lo
convert the original capital lo income. The costs of administering sud) funds can be charged against the fttnd.
1A Incom•
Income is fecognised when the Trust Is legalty enliiled to it after any performance conditions have begn mel,
the amounts ¢an be measured reliably, and il is probable th81 income will be recebved.
Cash donations are recognised on receipt. Other donations are Tecognised once the Trust has been notified of
the donation, unle55 perforniance condition5 require defertal of the amount. Income lax recoverable in rèlation
lo donats'ons received under GittAid or deeds of covenant is recognised at the lime of the donalifm.
Legaaes are rec£Jgnised on receipt or otherwise if the Trust has been notified of an impending distribution, the
amount is known. and receipt is expected. If the amount is not known, the legacy is treated as a conlingenl
8Ssel.

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policlas
(Continued)
1.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer ecoThimic benefit to
third party, it is probable that a transfer of economic benefits will be required in $etttemeAt. and the amount of
the obligation can be measured reliabty.
All expenditure 15 accounted for on an accruals basis. Costs are allocated lo appropriate headings, b¥$ed on
the acliwties to which they are attribvlable.
Costs of generating funds are the cost of goods sold in the museum shop.
Support costs are those Incurred directly in support of expenditure on the Ob￿CtIveS of the Trust
Management and 3dminislr8lion ¢osls are those incurred in connection with the admini8tfallon of the Trust
and compliance with conslilulional and slattrtory requirements.
1.6 Tan9lblè flxed assets
Tangible fixed assets are initially measured at C051 and subsequ$nlly maasured at cost or valuation. net of
d&preciation and 4ny impaimcnt losses.
Depreciation is re¢ognisèd so as to write off the cost or valuation of as￿15 lèss their rèsKlual values over their
Use￿ lives on the following bases..
Storage equipment
Offi¢8 and computer equipment
Artefacts
Fixtuies and ffittin9S
20% Straighl Line
33.33% Slraighl Line
20% Straight Line
The gain or k)ss aiisin9 on the disposal of an asset is determined as the difference b￿￿en Ihe sale proceeds
and Ihe carrying value of thè assèt, and is racognised in the statement of financ4al 8clivilie$.
1.7 Fixed asset investments
Fixed asset investmen15 are initially measured at transaction pri￿ excluding transactlon ¢osts, and ara
subsequently measured al fair value al 8ath reporbng date. Changes in fair value are recognised in net
incomellexpond¢tur&l for the year. Tran$aetion costs aro oxpènsgd as incurred.
1.8 Impairmont of fixed assets
Al trach reporting end dalts. the Twst rèviews the carying amounts of ils lan9ible assets lo d&lèm)ina whèthér
there is any indication that Ih05e assets hav6 suffered an impairrnenl loss. If any such indication èxists, the
recoverabla amount of the asset is estimated in order to delem)ine the extent of the impairrnenl loss Of any}.
1.9 sto¢k$
Slo¢ks arè statod at th• lowor of eost and estirnated selling price less COSt$ lo ctsmpleto and sell. Cost
comprise$ direct materia15 and, where applicable, direct labour costs and those overheads th8t have beèn
incurred in bringing the stocks lo their present locallon and condilion. Items held for dislributs'on al no or
nominal consideration are measU￿d the lower of ieplacemenl cost and ¢osl.
Nèt reatisable value is the estimated selling prKe less all estimated costs of complolion and costs lo be
incurred in rnarkeling, selling and distribution.

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policles
Icontlnutrdl
1.10 Cagh and ca¥h equivalents
Cash and cash equivalents include cash In hand, deposits held al Call with banks, other short-lerm liquid
investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown
within boirowirigs in current liabilities.
1.11 Financial Instruments
The Trust has elected to apply the provisions of Section 11 '8asic Financial Instruments, and Section 12
'Oiher Finanaal Instruments Issues, of FRS 102 to all of its finan¢lal Inslrumenls.
Financial instruments are recognL8ed in the Trusfs balance sheet when the Trust becomes party to the
contraetual provisions of the in$lrument.
Flnancial assets and liabililles are offset, with the net amounts presented in the finanrial slalements, when
there is a legally enforceable right lo sel off the re¢o9nised amounts and there Is an intention to settle on a net
basis OT to realise the asset and settle the liability simultsneously.
8a5ic financlalassets
BasiG finanGial assets, wl)id) iiiGludE debluT5 an¢J Gash and bank balance5, are initially measured at
transaction price induding Iran5aclion costs and are subsequenlty carried al 8mortised cost using the effecllve
intere51 method unless the arrangement conslilules a financin9 transaction, where the tr2nsa¢tion is
measured at the present value of Ihe futuro receipts discounted at 8 market rate of interest. Financial assets
classified as ieceivable within one year are not amortised.
8asi¢ financial liabilllits
Basic financial liabilities, including crèditors and bank loans are initially recognised at transaction price unless
the arrangernenl constitutes a finanang transaction. where the debl instrument is rnèasured at the prÈs@nt
value of the future payments discounted at a market ratè of interest. Financial li8bililies classiffed as payaNe
wrthln one year are not am￿￿Sed.
Debt instruments are subsequently carried 81 amortised cost. using th& effedive interesl ra16 method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary o)urse of
operations from suppliers. Amounts payable are classified as current liabilities rf payrnenl is due within one
year or less. If nol, they arè presented as non-currenl liabilities. Trade credf(or8 are recognised initially al
transaction price and Subsequent￿ measured al amortised cost using tha effective interest method.
Derecognitlon of financial liabilitlos
Financial liabl￿tieS arè dere¢ognised when the Trust's contractual obligth.ons explre or are distharged or
cancelled.
1.12 Employ•• banèfits
The cost of any unus8d holiday entittement is recognlsed in the period in whrch the employee's s8rvicg$ are
received.
Temiination benefits are recognised immediately a5 an expense when the Trust is demonstrably committed to
terminate the ernploymenl of an employee or lo prowde lerminalion benefit5.
10-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Accounting policies
Icontinuedl
1.13 Govornmont grants
Govemment grants are recognised at the fair value of the asset receNed or receivable when there is
reasonable assurance that the grant ¢ondilions wll be met and the grants will be received.
A grant that specifie5 perforrnance conditions is recogni5ed in income when the p¢rfomiance conditions are
met. Where a grant does not specify performance condition5 11 is recognised in income when the pr¢eeed$
are received or receivable. A grant received before the recognition criteria are Satisfied is recognised a5 a
liability.
Critical a¢¢ountfing 8stfimates and ludgements
In the application of the Twsl's a¢¢ounling policies, the trustees are required lo make judgements, eslimales
and assumptions about the carrying amount of assets and liabililies that are not readily apparent from other
soyr¢es. The eslirnale5 and associated assumptions are basèd on historical experience and other faclors that
are considered lo be relevant. Actual results may differ from these estimates.
The estimates and underlying assumption5 are reviewed on an ongoing basis. Rèvisions to accounting
éstimates arè recognised in the period in which the estimate is revised where the revision affects only that
period, or in the period of Ihfy r&vision and future periods where the revision affects both cuirenl and future
periods.
11

W (Y trj

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Income from charftable adivities
Unr•strlet•d
funds
2025
Unre$trleted
funds
2024
Visitor entr8n¢9 fegs
Outreach income
Research fees
64.000
410
1,625
63,000
1,878
66,035
65.S24
Income from othertrading activities
UnMstricted Unrestricted
funds
funds
20Z5
2024
Other income
19.$59
15.631
Income from investments
Unrestricted Unrestricted
funds
funds
202S
2024
Income from listed investments
Interest receivable
971
1.331
2.349
3,403
2,302
13-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Expenditure on rnlsing funds
Unresiricted Unrestricted
funds
funds
202S
2024
Fundral8ing and publicity
Opening stock- shop
Shop purchases and donated goods
Closing stock- shop
5.529
7.459
{2,4721
1,531
6,690
(5.529}
10,516
2.892
Investment management
1,372
1,177
Total costs
11.888
3,889
14-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
Expendlture on charitable activities
Charltabl•
Activities
202S
Other
Total
Charltable
Activities
2024
Oiher
Ttstal
2025
2025
2024
2024
Dire¢t costs
Staff costs
Depre￿allOn and
impairment
Conservation
Refurbishment costs
Cornputer So￿are and
consumabtes
Rent
Insurance
Repairs and cleaning
Travel expense
Postaga. stationory at)d
telephon&
Advertising
General administration
expènses
Bank charge5
ActNily expens&s
65,801
85,601
63,293
63,293
2,338
126
5.270
2,338
128
5.270
1,264
409
1,264
409
1,776
900
1,343
3,535
152
1.776
900
1,343
3,535
152
1.234
850
1.104
452
106
1,234
1,181
1,104
452
10S
331
1.324
395
1,324
395
1.239
317
1,239
317
2,073
531
2,073
531
1,210
971
1,210
971
83
348
83
73,883
12.029
85.912
85.380
7.483
72.863
Share of support and gov•manc8 costs (see note 91
Govemance
2,590
2,590
2,830
2,830
73,883
14,619
88,502
65.380
10,313
75,693
Analysls by fund
Unrestricted funds-
general
Unrestricted fvnds-
designated
Restricted fvnds
67,550
14.619
82.169
64,062
10,313
74,375
126
6,207
126
6,207
99
1.219
99
1.219
73,883
14.619
88,502
65.380
10.313
75,693
Govemane• costs
2025
2024
Governance costs comprise..
Ac¢ounlancy
2.590
2,830
2,590
2,830
15-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
10 Trustees
None of thc trustee5 (or any per¢on8 conneGted with them) reGeiv¢d Ony rwnunwation or expense5 durtng the
year12024." £Nill.
The lolal amount of donations received wlhout condition from Iru51ees or other related parties during the year
was £360 {2024. £3601.
11 Employoos
The average monthly number of emplJyee5 during yèarwas..
2025
Nuwnber
2024
N￿n￿r
Adminlslration
Seasonal
Total
Employment costs
2025
2024
Wages and salaries
Other pension costs
84,680
1.121
62.327
65.801
83,293
There We￿ no emptOy8as whose annual remuneration was more than £80,000.
12 Gains and losses on Investments
Unrestrictèd Unrestrlctad
funds
nds
2025
2024
Gainsl{lo$se$} arising on..
Revaluation of investments
Sale of investments
{12.70n
17,622
8.067
299
4.915
6,366
13 Taxation
The Tw$t is exempl from tax81ion on its activities bet%use all its income is applied for charitable purposes.
16-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUEDI
FOR THE YEAR ENDED 31 DECEMBER 2025
14 Tanglble fixèd assets
Storogo
equlpmgnt
Office and
Artgfacts Flxturgs and
Ilttlngs
Total
equlpment
Cost
At 1 January 2025
Additson5
18,551
23,033
6.400
805
8,544
48.789
At 31 Dècember 2025
18,551
23,033
6,400
9.349
57.333
Dèprnclation and Impalm)•nt
At 1 January 2025
Depreciation charged Sn the year
18,551
21,994
831
375
1,507
40,920
2.338
At 31 De￿rnber 2025
18,551
22,825
1,882
43,256
Carrying amount
At 31 Decembei 202S
208
8,400
7,467
14.075
Al 31 De(xmber 2024
1,039
6.400
430
7.869
All tangible fixed assèts arè used for charitable purposes.
The artefacts are stated al currenl market value at the point they are subsumed into thé collèction and due to
the nature of the assets have not been dep￿1141ed.
15 Fixed asset investments
Listad
inveslments
Cash In
portfo110
Total
Co$t or valuation
At 1 January 2025
Additions
Valuation changes
Investment income
Management fees
Disposals
Cash Investment
Gain on sale of investment
127,318
69
112,7071
1.468
{691
128,784
112,7071
1,053
{1,3721
1.053
{1,3721
87.873
187,8731
17,622
17,822
At 31 Decernber 2025
44.427
88.953
133,380
Carrying amount
At 31 December 2025
44,427
88,953
133,380
Al 31 December 2024
127.316
1,468
128,784
17-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
16 Stocks
2026
2024
Raw materials and consumables
2,472
5,529
17 Debtors
202S
2024
Amounts falling due withln one year:
Trade debtors
Prepayment5 and accrued in¢ome
13.8S2
385
971
339
14.237
1,310
18 Cr￿lt0[¥. amounts falling due wlthln one year
2025
2024
Other taxation and social se￿rity
Accruals and deferred income
8,266
2,720
4,559
2.675
10.986
7,234
19 Restricted funds
The restricted funds of thè Trust comprise the unexpended balances of donations and grants held on trust
subjaet to specific conditlons by donors as lo how they may bè used.
At 1 January
2025
In¢oming
resources
Resources
expended
Transfèrs
At31
D•cember
2025
Capital Endowment Fund
Gun Safe Grant IAMOTI
MDNE Fireamis Cleaning Grant
Regimental FAS COVID Grant
MDNE Recovery &
Developmeni Grant
MONE Recovery &
Development Grant 2023
MDN Women in the Fusiliers
Grant
20.736
89
1,357
29
20.736
89
1,357
29
55
55
1,372
19371
435
3.924
436
15.270)
910
27,562
436
16.207)
910
22,702
18-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
19 Restri¢tèd fund5
(Continued)
Pr8viou# y•ar:
At l January
2024
Incomlng
rèsoLtrces
Re$tsiir¢•s
expended
Transf•rs
At21
De¢ember
2024
Capital Endowment Fund
Gun Safe Grant IAMOT)
MDNE Firearms Cleaning Grant
Regim•ntal FAS covirj Grant
MDNE Recovery &
Development Giant
MDNE Recovery &
Development Granl 2023
MDN Women in the Fusiliers
Grant
20,737
89
1,357
29
20,737
89
1,357
29
55
55
2,591
{1,2191
1,372
3.924
3,924
24.858
3,924
{1,2191
27,563
The Arrny Museurns Ogilby Twst Gunsafè grant represents donations towards the ¢osl of a gunsafv.
Tha Museum Development North East IMDNEI giant represents donations towards the Lleanlng offfirearms.
The Regimèntal Fusilier5 Aid Sociéty COVID grant represents dtsnalions towards the cost of the charity
continuing ils work during the COVID-19 pandemic and the subsequent reopening of the museum after
national lockdowns.
The MDNE Recovery & Devdopment grant represents donations to produc8 a virtual tour for the charitys
website, conservation supplies and an A3 printerlscanner.
The MDNE Re¢ovèry & Development Grant 2023 rep￿Sents donations towards the EPOS lo streamline
activities in the museum shop and recording of shop sales. outdoor signage, conservation supplies and a new
laptop.
The Women in the FusSllers Project Grant 2024 15 a donation towards graphic panels whith ￿present the
Women in th@ fusiliers over the yéars and up to the present day.
At 31 December 2025 the balances of Pilgrim Trust and MDNE ConseTwalion Grant, Gun Safe Grant. The
Reglmental Fusiliers Aid Society Grant and MDNE Recovery & Development Grants represent the net book
values of those assets purchased with the grants received. As those assets are deprectaled each year the
restricted fund balances will reduce by the depreciation charged against them until extinguished.
19-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
20 Unrestrl¢ted funds- dèsignatsd
These ar& un¥e8triGted funds whlch are materi01 to the Trust'5 aGtivibos.
At1 January
2025
Incoming Resources
resour¢o$
expended
At31
De¢ember
2025
Acqulsrtlon Fund
Conservation Fund
Refurbishmènt Fund
6,400
17,695
59.360
6.400
20,069
59,360
2.500
1128)
83.455
2,500
{1261
85,829
Previous year:
At 1 January
2024
In¢oming
resources
Resources
èxpended
At31
December
2024
Acquislllon Fund
ConseNalion Fund
Refurbishment Fund
6.400
16.294
59.360
6,4(X)
17,695
59,360
1.500
1991
82.054
1,500
199)
83,455
Thè Acquisition Fund Is applied lo acqulre ¢Jlsplay articles foi the regimental colle￿"On. The proceeds of any
mlnor items disposed of are credited to this fund, and used lo make further a￿u￿SitIonS.
Significant disposal proceeds aw ollocaled to funds al the Trustees, discrellon.
The Conservation Fund is used for the preservation of items in the regimental colledion. In the year. variou$
omounts have been expended lor this purpose and have been charged to this fund accordingly. In previous
years conservation equipment has been capitalised with the depreciation eharged over S years Its the
Conservation Fund.
The Refurbishment Fund repres&nts donations and transfers designated towards the costs of rédèveloping
the museum.
TranSf￿S are made f¥om the General Fund to Ihe Deslgnaled Fund to cover the excess of èxpondilure over
income in the year, where applicable.
-20-

THE FUSILIERS MUSEUM OF NORTHUMBERLAND
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2025
21 Unrestri¢ted fvnds
The unTeÉtrictod funds of tho Trust eomprise the unexpended bslanees of donatlons and 9rants wh￿h arg not
subject lo specific conditions by donor5 and grantors as lo how they may be used.
At 1 January
2025
Incomlng
rèsources
Resources
expended
Ttansf8rs
Galns and
lo$$e$
At31
Dècember
2025
General funds
180,886
102.088
(94.0571
19101
4.915
192,922
Prtvlous year: At 1 Januory
2024
In¢omlng
resourtès
Resources
expet)ded
Transférs
Galns and
lossès
At31
Dèeember
2024
General funds
132,266
120,496
178.2441
6,366
180,886
22 Analysis of net assèts bètsyèèn funds
Unrestricted Unrèstrlcted
funds
funds
gènèral designated
2025
2025
Restrlcted
funds
Total
2025
2025
At 31 D•e8mber 2025:
Tangible assets
Investments
Current a5sels/lliabilitiesl
112
133,380
59.430
6,400
14,075
133,380
153,998
79.429
15.139
192.922
85,829
22,702
301,453
Unrestricted Unrestri¢tèd
funds
funds
genèrdl deslgnated
2024
2024
Rèstrietèd
funds
Total
2024
2024
At 31 December 2024:
Tangible assets
Investment5
Current assetsllliabilitiesl
112
128.784
51.990
6,400
1.357
7,869
128.784
155.251
77,055
26,2
180.886
83,455
27,563
291.904
23 Related party transa¢tlon$
There were no dlsclosable felaled party transactions during the ygar {2024'. None).
21