Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P 1ll7 Registered number: 01362091 Charity number: 276066 Friends of Benjamin Franklin House (A company Ilmlted by guarantee) Unaudlted Tru8tees' report and flnanclal Statements For the year ended 31 March 2025 Friends of Benjamin Franklin House IA company limited by guarantee) Contents Reference and administrative details of the ch¥ity. its Trustees and advisers Independent examinerfs rep(Yt Statement of financial activities Balance sheet 10 Notes to the financial sLitements Friends of Benjamin Franklin House IA company limited by guarantee) Reference and administrative details of the Ch￿lty. its Tntstees and ad¥isers For the year ended 31 March 2025 Trustees Mr John Studzinski. Charman Ms Elizabeth Tirone, Seuew (resi￿ed 11 DeCern￿ 20251 Mr Tud￿ Aw. Treasurer Lama Kanazeh Ms Anne P Ke￿j￿r Mr Rory SutherlarKI Mr Michad Sheldric* Mr Dawd A Mcrte MS lrina Bokova Iresign&J 1 November 20251 Mr Gay Evans Company registered number 01362091 Charity registered number 276086 Registered office 36 &aven Street Lond WC2N SNG Company secretary El￿eth Rose firone Accountants Kreston Reeves LLP 2nd Fltsy 168 Shwlrtth Street L(￿dOn E16RA PaJe 1 Friends of Benjamin Franklin House IA company limited by guarantee) Trustees. report For the year ended 31 March 2025 The TNstees yesent their annual rqyxt together Imth the fin￿￿al sLitements of the charity for the sear 1 April 2024 to 31 March 2025. The Annual report serves purposes of both a Trust￿5, report and a directors, report under ccffipany law. The Trustees confinn that the Annual rewrt and finarrial Statements of the charitable company comply wth the current statirtw requrements, the requirements of tt)e charrtable companls goveming d￿Ument and the w1visic￿$ of the Statement of Recommended F¥actice ISORPI applicable to charities preparing th￿r accounts in accordance wrth the Financial Rewts"ng StaThJard applicab￿ in the UK and Republic of I￿laThJ IFRS1021 leffective 1 J￿￿ary 20191. Since the chanty qual￿￿$ as small urbjer sec*on 3e2 of the Companies Act 2Cth, the Strategic rewt required of medium arKI large companies Lnder the CompaThes kt 2￿ (strateg￿ Rep￿t and ￿"re¢th. Rewrti Regulations 2013 has been t￿￿rtled. Objectives and activities a. Policies and objectives In seth.ng objeclives and F4anning for acb"vitses. ￿ Trustees have gNen due consideralicn to general gu￿anCe published by the Charity Commissth rdaling to put4ic benefft. indLKling the guhdance 'Public knefrt.. running ¢harity IPB21'. The eknject of the Foundation is to advanr* educaticm for public benefft by. providing a dynamic museum which makes real the lrfe aTrJ tsmes of Benjamin Fr￿klin at 36 Craven Street.. and for that purp)se to own, imkyove, preserve and maintain Benj*nin Frnnklin House, the sole remaining residence of Benjamin Frankiin an￿ere in the wortd; estsblishing a S￿￿eTht Science Centre f￿ young pecple that emphasises the $￿entifiC method and encourages Benjamin Fr4nklin's spirit of enqury experin*nts and other means to swr interest in science and Franklin related subjects. bringing thildren toFther lo foster (Y￿ wllurl understanding and dialogue and British American rel*'ons'. aTr lili) instituting a Sc￿)larship Centre fLY scholars. athlt leamets, and othets, as a focal rÉJinl in Europe for Benjamin Franklin and Franklin related resear¢h. offering schdarships solely. or in conjunction with other irbdmduds ¥bd instituiions. at the discrelion ofthe Board of Tntstees. b. Strategies for achieving objectives The first phase of th. oynFlela on tThe arKI wthin budget in 1939. ensured the structural surwval of the 1730s Grade I listed, Ge￿lan tefrace buildir&. the wortd's surviving ￿me where Benjamin Franklin lived and Wcfked. The Herrtage Lottery Fund, English H*. Ihe Gety Foundati￿ and Ihe William Hewlett Trust, amor4 oltrEr5, provided core fvndiry. We then frtused on parbal e4)nservation of the arKI fi￿t Iloor along wrth desvjns for the Histon"cal Experience, Student Science Centre, and Scholarshp Centre. This essentil work vras made possible vAth support from indivMJuals and fwndations. indL*Jing the Equrfable Charitable Tntst. the Welcome Trust. the Weston FoLrthtion. and the WeAfscfi FourKiaticn. Final works encompassed the remaining Inter￿ ccfflservabon and Ihe installation of mechanical. electrical and multimedia services required lo present Benjamin Franklin House lo the pU￿1¢- m*le pos%ble in large part due to a second grant from the Nats'onal Lottery Heritaje Fund (then HerrtaJe Lottery Fund) - thus realising the objectives of the charty. We met goal to open the H[￿se on the 300th aMwer5ary of Franklin's birth, 17 January 20(￿. Then Foreign Secretary of the Unsted arKi AmbassaJL¥ of the Uniied States pre5bded over the ￿remonY al Craven Street. PaJe 2 Friends of Benjamin Franklin House IA company limited by guarantee) Trustees. rewrt Icontinuedl For the year ended 31 Mareh 2025 The House thartts l￿derstand￿￿ of Fran￿1n.$ achieverwits and vJues throwJh.' A HIS1￿Cal Experience that presents the excit￿)ent and uncertainty of Franklin's years using the rooms fftre so much place as slagirvJ for a drama wh￿h seamlessly integrates live performance, cwtting e&Je Ibjhting, sound and projecti￿ technology. It stands al¢Me among Lornlon attractions in its hiuseum as tsatre, approath a￿1 has wted a nthv stsTrJ¥d for histoncal interwetation. The StLthnt Centre fc¢uses Franklin's Lorthn sC￿ee - from lighthing rods to hydr¢>Jynamics, alhwng sdKoI children to satisfy their historical ard saentffjc cl￿05￿, free of charge. Outreach. including Ben's Travellirvj Surtcase, txrys ow educatKmal actiwlies into schools and the YnmLmity. The Robert H. Smth Schc4atship Centre serye$ as a Imkn f¢X Frdnklin rekted study in Europe, featuring a full sel of the PaFers of Benjamin Franklin catslcgued by Yale Untvèrsity. an active volunteer programme for university students from the US, UK aTrJ farher afield. and over 40 pu￿1¢ events per year ranging from leclures, exhib￿.0ns. aTrd famity days. Achievernents and perfomwnce . Main athievements of the ehanty Key events in the year Ovgr the past year, 8eniamin Franklin Htjuse has continved lo deltver on its missK)n to yeserve and animate Franklin's only surviwng residence ￿lIe thancipKJ PU￿1¢ LThlerstanding of his lrfe aTrJ legacy. Since openiw to the publ￿ in 2006. more than 166,OC(J visrtors have c*ossed our thre$￿Id. We have strengthened our staff team thanks to roles SUFWted by the Not￿nal Lottery Hentage FLmd, appoinb"ThJ Megan Kirg, a d¢xtoral researcher in eady American history, as Front of House Manager and Jess Ir*Jram a5 operat￿r6 Ccordinalor. Michael Hall has tran$￿'oned lo the role of Head of Partrerships JKI Advancement, sUpP￿.ng a new phase of organisats'onal development. This role strengthened the (ynisab"¢M'S eapaety and was instrumental in thè suetsssful delivery of the Nationd Lottery Hentage FLnd Visitor engagement remains ￿￿siSten¥Y high. Posth"ve feedback C￿ Tri￿4th's￿ and other plalfcms continues to highluht the skill of our guides and the unw4ueness of our approach. Building C￿ this strength, we completed granl-funded aud￿tt deveklpment this culminatiThJ in a repyt thal wqll guth fLrture pr¢>Jramming to sustain and increase impact a broaer aThJ more diverse aud*nce. New inlems have joined us through the Robert H Smith stl￿ Centre from UnNer5ty of Notre Dame. the College of Charteston, and Southweslem Universty. Our prcqamme of events aThJ pul￿￿ enp3ement has been rich ￿ varied. In September we part'cipaled in OFen House Londcfi. This also marked the start of ￿r aubjmn lrterary sea￿, featuring talks wth authors includiry Eric Weiner (Ben and Mel. Evan FriSs18enj￿1n Franklrb arKI ts Advent of the Arneri¢on Bwkslorel, Jason Cherry (Dr. Franklin arKI Major Trenll, and Rgtert Frishman (Ethyard DuffEld'. Philadelphia Clockmaker, Citizen, Genllemanl. In Octthr. the House hosted a U.S. P￿sKJential debate al the 8rilish LiLYary v represenlatsves of Democrats Abroad UK and Repu￿icar￿ Overseas, moderated by our Joumalisl-in- Residence, Justsn Webb. In Novemter. the Rotert H. Smrth Lecture in Dem¢xrocy took place al the London School of Economics wrth Profesw Michael Cox. offering a timely ￿ectiOn on the American elecli¢x and its glcbal consequences. Our Illustrator-in-Residence. Krernena Dimitrova, further enriched our cultural prcgramme, leading wcfkshop5 for Refwee Week and devdoF4ng her V￿U￿151n9 History pwecL which culminated in December exhibth.on at the House. PaJe 3 Friends of Benjamin Franklin House IA company limited by guarantee) Trustees. rewrt Icontinuedl For the year ended 31 Mareh 2025 Education remains at the heart of our charitaL4e rnwic￿. Ckn three demonstrati￿ strands-electri(aty, fO￿tS, and Soun(￿lema1n highly wxjlar, the decth(ity thsh4) the most frequenly rw4uested. We also Melcomed grouF6 suth as the 32nd Cub Seouts and the Arnellcan Airbase School. Beyond the House, our outreach projramme deltvered 84 w￿kShC￿5 in 21 schcds across London, reachir#J more than 2,SOO pupls. Our Franklin's Young ScEntisl CIL￿ ¢￿ty"nUe￿ to fvjrish. wnnrrfj monthly sessK)ns C￿ tcpics ranging from l¥Jht and sound lo the human bcKJy aThJ sdar system. We continued lo champion ￿Ung voices through he Benjamin Franklin House Literary Prvze, vthich held its ¥ward Ceremony in May wth fwr of the five $hordisled wrters and three of the five I￿19e5 in attendance. We also hosted the launch of From Ideas lo Impact." A Pla*ook for Influencir¥J and Im ￿ementing Change in Divkled Wcrfld wth author Michael Shddrick. In Juty. Ihe House welcomed non-profft leaders through an American Express F￿ndation Immersi￿ wsrt, and throug￿ the gjmmer, Kremena Dimitrova's illustraliL worksPws offered youw r￿e new ways to erKJ•Je ￿￿th Franklin's stw aKI wbjèr histories. A major fccus of thts year was Buildirvj a SuStaina￿e Benjamin Franklin House project, SUPFQrted by the Natic￿al Lottery Heritage Fund. Nearing COM￿etitin at the er￿ of the finanual year, this grant provided the House with a rare opportunty to slep back and re-examine rts reSilEn￿, offer, and organisalional capa¢ty. Vvith a modest grant eXtenS￿n. the grart wll carry into next fiscal year in order lo implement findings from extensive consUltsti￿ with exFert consultants acro55 ccnserva11c￿. marketirvj, digital engagement, audiertt thveloF¥nent, and fundAising. On the conseryatKn side, essents'al repairs were carried out to the fa￿￿C of 36 Craven Street. induding masonry and plaslerw)Tk, repairs to historie flooring, repaintiThJ of previwsly painted fini$he5. These works were overseen by conservation $peoalisl$ and undertaen lo highest stsndards, ensuring the Icng-lerm slabilty and pr•v.ntatiM af Franklin's httm•. Th•. rKry•et also addressed urgent needs in the Historie21 Experienee. upgrading the 4udTrvisual system that uTrJerpin5 our flajship pwfomiance and sth'lisiry visitor ddivery while plan its ftrtwe redevdOw￿rt. Equalw signffieant were investments in organisabcthl reslience. The gr￿t funded three new staff p)silions.' Head of Partnerships and Adv￿￿Ment. an OFeratffis Coordinator. a Front of H￿se Manager. Together these roles transft)med the daity capacty of the H)use. enabliThJ us lo a ￿anned increase to OFening hours from three to fve ty per week thriThJ the summer season. exp￿￿ xhcd and public pr¢>Jramming. and relieve long-StarKIiw Pfessures on staff. The House also benefitted frcm the input of leading consultants. Marts Calfl delivered a refreshed development and fvndrai$ing strategy. includir4 a case for SUFWt, slewzrdship fram&%¢rfk, and elhies pdicy. Cogeney prowded a comyehensNe review of our digital playorms. develcyirKJ a forWa￿00king Swal media strategy Mryth dear KPIS. Lucy Ba1￿Y led an irthpth Prcgramme of audience c¥)nsuItati￿. engaging 143 parbcipants across VISrt￿ surveys. communty focus groups. ano pibt events. Her ￿)rk produced an audience development strategy that is alrea(ty shapiNJ our future prryjrarnmmg. Colleth"vdy, these strand5 have helped the House reach neN audience5, tr￿1 creative progrJnming (InclL*Jing F¥)ety evenings and family da￿}, arKI refine its brand and dIgrt￿ pres￿b¢e. Thanks io ihe hard w￿k ol Ihe Benjamin Franklin Hthtse staff, gr*t delNery progressed ￿TthoUt requiring dosure of the srte to the pu￿1C, a ConsK1era￿e achpvement gNen the scale of conservation works. During this period, our EducatK)n Manager successfiJlty yvoted lo an outreach-based mc•Jel. thich only mainlaineil but increased student parbcipaliw in our educati￿ prctyJrammes by tsking workshops directty into schwls. This adaptive approach ensured ￿ntinUitY of service lo W￿15 and teachers at a time vthen irthouse delivery wa5 not possible. On-site educatK)n V￿rtS continued in the artLmn 2025 term, tr￿1￿11ng on the momenbjm gained through this expanded outreach model. Finally, our commitment lo SI￿dShip of the bjikling itseff has remained strong. Following flood damage in the prewous finanaal year, repairs to the basement have now been cc¥npleted lo a high conservation standard, undertaken wth input from cOrwVat￿ experts ard in c(￿SuIta1￿M wth Westsninsler City Council's planning department. AJorKJside the grant wc**s the building fa￿rfIc is in the best Cond￿on Since we completed initHI conservation work5 in the eady 2000$. PaJe 4 Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P7ll7 Friends of Benjamin Franklin House IA company limited by guarantee) Trustees. rewrt Icontinuedl For the year ended 31 Mareh 2025 b. The year ahead The coming year will be one of the most ambrtious in the history of Benjamin Franklin House, as we prepare for both the Semiquincenlennial of AJnerican indeperKlence in 2026 aThJ the tr￿t￿th anniversary of the House's opening. W• wll eefjtinuo to •xp3nd our PU￿1¢ Fxogiamrre Nmth a ￿bIrniC mix of lecbJre5. family days, creative residenaes. and cjjllural part￿Ships. Highlights will Y￿Ude an expanded summer programme of talks and debates exploring Franklin's e￿IUnrvj relevance.. and new seasonal offerings such as Flag Day and a family autumn fair. Franklin's 8ithlay Bash in January will kick-off our semiquin￿ntennlal celebrations. Amnual favourrtes such as the Fourth of Juty. Open House London. and Halbween will relum with refreshed fomats, from poetry evenirvjs and walking lows to late-nighl paran￿rnal InterpretsliL￿S. Our cultural edLalxJraticfts will brir*J di%tirrfJushed vow aryl wspec￿ to Craven Street. We are in discussion to partner wrth the Royal So¢￿ty of AJts. tr* Bnb'sh LitKary, and the NalK)nal Portraf( Gallery, and to continue l)uilding inlemati￿al recognthn thrc￿h tre USA250UK ¢c￿s0rtIUrn. liiks us V￿th partners such as Sulgrave Manor arKI the AJnerican Museum in Bath. We wll also piepare to wekome internabonal broadcast audiences as filming for a Semquiwtennial speoal has been cLwn*led in the HoLL8e ahead of spring 2026 release on the BBC and PBS. January 2026 will also see fv launch of Ir* ￿ IndeFwdence, a doital-first exhbitb)n delNered through Blo¢)mberg Connects and lunded by Blcomberg Philanlhrwes. This larKlmark project will explore Franklin's revolutionary diplomacy through thirteen of his L0ndC￿-era ktters. ccvnly"nirKJ high-rexs1ull￿ facsimiles wth expert commentary and interaclNe feaiures. The eXh1brt￿n wll rdl out in phases all￿ed with the anniversaries al t￿. l•tt•.rs th•.msdv•% cn.Ating mMi•nhim that wll earry us thrO￿h to December 2026. On site. the launch wll be acccffipanied by In-Per￿ activatK>ns indudng dramab"c readings, family printing workshops, arKI panel discussions cn the of liberty. The Nalthal Lottery Heritage F￿d grant was eompleted in summer 2025. In direct response lo the recommer¥J*'ons of the audience devdopmenl cmsuttancy, this summer we will trial new self-guided tours anchored by a neryaper-s￿e gupje. the Craven SITeet Gazette. This expanded fomiat wll incorp)rale fresh inlerpretath'on of Franklin's household. the pewe vth) INed arrtj la￿ured at 36 Craven Street, and the themes of libety, science, and lrfe in Georgian Lorvjon. Expanded openiry hoU￿- from three days lo five days Fer week wll allow rn￿e wsilors to expeiience both our guTrded * Seif-gu￿jed tows, strengthening inoyne gerwalion while WKlening access. The National Lottery Herrtage Fund yciecl has pOsit￿ed us strongty for this next phase. The cultural shift rt f05tered will continue lo shape how deliver pryramming aTrJ Strategy. A cuKure of Shared ideas has alreaoy led to inMvat￿S such as the installatjon of a new EPOS system and the inlegralK)n of development goals into pr￿raMming prcposals. These Pract￿ VAII be emtr*thJed furthw in the year ahead. ensuring resi1￿nce as we scale ujr aM￿tions. In Oclcter 2025. we owied the Peter and Kirvj exbibibrAb. installirKJ rth inlerwetsb'on in the House thal bnngs Iheir stones io the loretront lor Ihe hrsi bme. Developed through ¢onsuAab"on th scholars and community partner5, the exhibrtion Mqll form a Fermanent part tr c￿r offer. ensuring that all Msrtors enryjunler a fijller account of lrfe at 36 Craven Street and Franklin's enlaThJlements vrfh slavery. This installation represents a signrficant slep in delNering our commitment to indusive interKKelatKn aThJ wll serve as a fo￿dat￿)n for future programming lied lo the SemiqUinc￿Iennia1. Education will ￿Main ￿ntral to our mww. the successful wvot to outreach delNery during the conseryalion works, we wll resume ￿-$rte schcrt)I wsits in the autumn lem vthile ¢onlinuing lo offer out￿a¢h 5es5ions across London. Our Student Science Certre. Ycw@ scbenb.st CILb, and Franklin-themed workshops Mryll be further aligned wrth sern￿UlncerItennlal bknes, intrgjuong wpils to questions of libety, demc¢racy, and global atizenship throwh sw¢e and listory. PaJe 5 Friends of Benjamin Franklin House IA company limited by guarantee) Trustees. rewrt Icontinuedl For the year ended 31 Mareh 2025 ongside programming. the House wll ccmtinue lo prioribse finawal sustsinabilty. Building on the development strategy created with Markslcalil, we wll fc￿5 on ¢xltwating major donors. trusts, and foundations, while strengthening digital engagement through our ren￿d soaal media strategy and the Bloomberg Connects plarform. These efforts will uThJerpin our abilty to delNer the Semiquincentennial Programn￿ al scale. Finally, preparatiorts for the Semiquinc*nlennial wll iilensify. We wll w)rk ￿th partners across the UK, the U.S.. and Europ8 to dolivor a wogramm• of •v•nts that rèflects Franklin's transaUar*tic legacy and endurirvJ relevance. The Franklin Fcrfum. planned as a global hub for diabgue and leadership, will be furthef devek)F*d. Fundraising ill also * a central prionty, as we seek lo undemte this cn(X-in-a-generation owortunity. Through these in1bati￿s. 8enjamin Franklin Hwse will cc*)tsnue lo evdve as a steward of Franklin's London home and a living inslrtLth'on dedicated lo diak)gue, wjucation. and public engagement. The year ahead Mfjll be one of innovation, grovAh, and weparatp)n-ensuriffj that vthen 2026 arrives, the House will bè ready to play its full role in rnarking 250 year5 of li￿ and the enduring legacy of one of htstory s most remarkable figures. Financial review . Going concem After making apprwriate ewuiries. t￿ Trustees IHve a reasonat4e exF*Ctaticffl that the charity has adequate resources to cont'nue in operalicfial exislence fc* the foreseeable future. For this reason. they continue lo adopt the going concem basis in preparing the finanual st*ements. Fwther details regafding the acS¥ts"on of the going o)ncem basis can te found in the accounting pdicies. b. Reserves policy The Trustees have rewpmd the merves of the chty. The revw e￿(￿nPasSed the nature of the inccvne and expenditure streams. the r*d lo malth variable ine4Jme wth fixed eonmitments. the nature of the reseNes. The tharity had total irKcffle of £442.44812024.' £268,175) wth total expeTrJiture of £483,18412024'. £363,733). The ￿Ve1 of reseNed decr&*d to £1,339,472 cn 31 March 2025 from £1.380,208 on 31 March 2024. This was split be￿n £621.249 12024.. £626,093) of restnded reserve$. £718.223 12024.. £754.115} unrestricted reserves. The TrLKStees Lwtsidered the financial requir￿ert for thè wyjthiig caprtal requirements of the charity and ongoing maintenance. The Trustees have conduded that to allow the chanty to be managed effiaendy. free reserves should be maintsirbed, ideally at three rnont￿ of the proiecled expenditure. Management and Trustees rn￿110r actual and pyqected cash flow5 C￿ a regular basis. Structure. governante and managernent Constitution The charity is a company limited by guwanlee and wa5 on 10 ADriI 1978. It is govemed by an updated memorandum and artides of asscciab"on, whi¢* adcpleil by SFeryal resoluticffl cfi 9 July 2003 to bring them into line with mcthm ¢¢xnpany law a￿j wac*ces. b. Methods of appointment or election of T￿￿tee$ TNstees are apFK)inled usirKJ the ￿￿￿edUre for ￿nina1]OrS delemined frcffl tine lo line by the Bo¥d. The Trustees mel a minirrwjm of three times during the per￿￿. c. Policies adopted for the I1b(k￿t10n and training of Tnjstees On joining the Board, Tru51ee5 are given a ccpy of the MeMc￿andum and Art"des of Associab"on along wth document ents.ued Agreement ar¥J Cc￿Sent to Membership of Benjamin Franklin House, requires signalure. PaJe 6 vrtUaWtthTra￿I￿ Rd D77P*PIJ￿2Z￿lg t*¢XQ517."1528ixroitC +O)D 112P Friends of 8enjamin Franklin House IA company limited by guarantee) Trustees. report Icontinuedl For the year ended 31 Mareh 2025 d. Risk management The Trustees have examined the major strategi< business and ijperational risks that the charty faces and nfirm Ihal systems and rep￿"ng prccedures are in place to ensure appropriate management of these risks. The Trustees have ccfflsmlered the r￿ed for a SFeofic intemal Jjdil lurKtion and have decided that it is not necessary at the present time given the size of the c￿anisa110n. statemerrt ol Truslees. responsibilities The Trustees are also the directors of the charty for ts wrposes of company lawl are responsible for preparing the Trustees. reFQrt arKI the finarrial statem@ntg in aceordane@ with Applieabl• law and Llnit@d Kingdom Accounting Standards (United kn"ngdom Gdwalty Accepted A￿nts.￿9 Practicel. Company law requires the Trustees lo prew finamal statements for each financial year. Under Company law, the Trustees mu$l not approve the finanoal statements unless they are salisf*d that they give a true and fair view of the stsle of affairs of the charty and of rts inccrfning reSOur￿S and application of resources, including ils ineome and expenditure, for that period. In preparing these finanryal stalen￿nts, the Tru$lees are required to.. seled Suitable accountir¥J p￿IC￿ and then appty them u)nsislenly.' 0￿rve the methods arKI prinaple$ ofthe Chanties SORP IFRS 1021.. make judgments and accounb.ng eslimale5 that are reaSona￿e and prudent.. stsle thelher applicable UK Acecyjntsng Stsndads IFRS 1021 have ken folkw￿. suty'ect to any material departur8$ disel¢Jtsd and èxplain￿ in thè finanekn31 statèmènts.. prepare the finanual statements on the wng ¢))ncem basis unless rt is inapF*opriate to presume that the tharity will continue in bU￿ne$S. The Trustees are re$F￿￿ble f￿ keeping adeqLth accountiTrJ records that are sufficient to show 8nd explain the d)antys transactions and disdose reasonable accuracy al any tsme the financial r>)silion of the charrty and enable them lo ensure that the financial statements CoM￿Y wrth the CoMpan￿S Act 2CpJ6. They are also re$pK)nsible for safeguardiry the assets of the charity arKI hence for taking reasOna￿e steps for the prevention and detection of fraud and other irregul*ities. Approved by order of the rr*mbers ofthe board of TNslees &gned on their behaw by.. Mr Tudor Aw (Trusteel Date". 19 Dertmber 2025 vrtUaWtthTra￿I￿ Rd D77P*PIJ￿2Z￿lg t*¢XQ517".1528ixroitC +O)D 112P 1 Friends of 8enjamin Franklin House IA company limited by guarantee) Independent examin*s report For the year ended 31 March 202S Independent examinerfs report to the Trustees of Friends of Benjamin Franklin House {Ihe charity) I report lo the charity Trustees C￿ my examinat￿ of the accounts of the tharity for the year ended 31 Marth 2025. Responsibilities and basis of report As the Trustees of the charty land rts directors for the purposes of company lawl you are responsib￿ for the prepar*ion ofthe accounts in awdance wrth the requirements ol the C(mpanies Act 20061.the 2006 Act'}. Having satisfied myseN that the accounts of the chanty are not iequired to be audited under Part 10 of the 200G Act arKI are eligible for indeperKbent examinatic￿. I reFort In resped of my examination of the ¢hanty's accounts carrEd out under sethon 145 of the Chanties Act 2011 1.the 2011 Acri. In Cal￿n9 my examination I have fc41owed the DireCt￿S given by the Charity CoMmi￿10n urKler seCt￿n 145(5Mb) of the 2011 Ad. Independent examinerfs statement Sinee the chartys gross incc¥ne exceeded £250.CQO w examiner musl be a member of a boo¥ listed in Secti¢￿ 145 of the 2011 ACL I confirm that l am qua&f*d lo undertake thè examinatbjn because l am a member of ICAEW, which is one of the listed bodies. I have comFAeted my examinab"on. I confirm that Tr) matters have c4)me lo my attentw in ¢onnection wilh the examination giving me cause lo kelieve.. a¢￿untIng records were not kept in respect of the Charity as required by section 386 of the 2006 Act., or the accounts do not acoyd with those records.. or the accounts do rv)t com&4y wth the aco)untiTrJ requirements of seCtiC￿ 396 of the 2006 Act other than any requirement that the aco)unts 44ve a Ift￿ fairf vithv is not a matter considered as part of an independent examination., or the accounts have not been wepared in aco)rdance vdth Ihe methods priwples of the Statement of Recommended Practs'ce for acc))unling and rwb'ng by charitses lapplicable lo charities preparing their accounts in accordance the Finanaal ReportirKJ StarKlard applicable in the UK and Republic of IrelarKI IFRS 10211. I have no concems and have come across no other matters in tt￿neCtion ￿￿th the examination to thich attention should be drawn in this report in order to enable a proper urbjerslanding of the accounts lo be reached. This rekxyl is made sdely to the chariVs Tntstees, as a body, in acCord￿ce Part 4 of the Chanties (Accounts and Reports) Regulations 2008. My has tttn undertaken so that I myht stale to the charitys TNslees those matters l am required to state to them in an Independent examinerfs report and for no other purpose. To the fullest exterrt wmitted by law. l (k) not acc*pl or assume responsibility to anyone other than the charity and the charitys Trustees a5 a body, for my orfor this rewt. Signed.. Dated.. 19 Detombw 2025 Luw HamrTh)rKI BSC FCA Kreston Reeves LLP 2nd Floor 168 Shoreditth High Street London E16RA Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P 11r27 Friends of Benjamin Franklin House IA company limited by guarantee) Statement of financial activities (incorporating income and expenditure account) For the year ended 31 March 2025 Restricted Unrestricted funds funds 2025 2025 Total funds 2025 Total funds 2024 Note Income from: Donations and legacies Charrtable ath"vibe$ Other trading activities Investrnents 190,829 186.327 57,702 7,516 74 377,156 57,702 7,516 74 213,771 49,990 4.265 149 Total income 190.829 251.619 268.175 ExperKliture on: Raising funds Charrtthe xb'¥knes 41x17 283,504 4.007 479,177 2.787 360.946 195,673 Total expenditure 195,673 287.511 483,184 363.733 Net movement in funds 14,8441 135,8921 140,7361 195.5581 Re¢onciliation of funds.. Totsl funds brought fc4vMd Net movement in funds 26,093 14,8441 754,115 135,8921 1,380,208 140,7361 1.475.766 195.5581 Total funds carTied foThvawd 621.249 718,223 1,339,472 1.380,208 The Statement of financial actiwtses indudes all gains k)sses reetynised in the ye¥. The Mtes on pagès 11 to 25 fomi part of these financ4al stater￿nts. PaJe 9 vrtUaWtthTra￿I￿ Rd D77P*PIJ￿2Z￿lg t*¢XQ517".1528ixroitC +O)D 112P 1Y27 Friends of 8enjamin Franklin House IA company limitsd by guarantee) Registered nurnber: 01362091 Balance sheet As at 31 March 2025 2025 2024 Note Fixed assets Tangible assets 14 1.310,725 1.374.797 1,310,725 1,374,797 Current assets Debtors Cash al bank and in hand 15 3,720 33,036 2,578 18.521 36.756 21,099 Current liabilities Creditcvs.. amunts falling due ￿￿thIn one year 16 (8.009) 115,6881 Net current assets 28,747 5,411 Total net assets 1,339,472 1,380,208 Charity funds Restricted funds Unreslncted funds 17 17 621,249 718,223 626,093 754,115 Total funds 1.339.472 1,380.208 The charty was ents'lled lo exempkn'on tr￿n audrt urKler Secti￿ 477 of the Ccwnpanies Act 2CI)6. The members have not required the c¢mpany to obtain an audit for year in questson in accordance vAth section 476 of Companies Act 2006. The Truslees a￿(nO￿edge thwr responsitxl￿eS for cOmpl￿r￿j vith tr￿ requirements of the Act wth respect to accounting records and preparatson of finanaal statements. The finan￿al statements have been prepared in ac￿dance wth the provisions app1Ka￿e lo entities subject to the small companies regime. The finawal statements were approved and alth￿Sed kn Issue by the Trustees and signed cffl their behalf by.. Mr Tudor Aw ITrusteel ' 19 December 2025 The n¢)tes on p4es 1110 25 fomi part of these financial statements. Page 10 Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P 1Y27 Friends of Benjamin Franklin House IA company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 General inf0M￿l10Th Friends of Benjamin Franklin H¢xse (tr chariWI is a private o)mpany limrted by guarantee. In the event of the cc4mpany being wound up, the liabiljty in resr*d of the guarantee is limit￿4 to £1 per member of the company. It wa5 inccyporated in England the regIStrat￿n numter 01362091. The address of the registered office is Benjam￿ Fr*￿in House. ￿ Craven StreeL L￿don, WC2N 5NF. Accounting policie5 2.1 Basi$ of preparation of financial statements The finanual stslements have been ￿ePared in accordan￿ with the Charities SORP IFRS 1021- Accounbng Reporbrvj by CharrtEs'. Statement of Rec(ynmerKled Prxtice applicable lo charities preparing their accounts in a¢￿dar￿e ¥￿th the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 leff￿lI"ve 1 January 20191, the FinarKial RepKJrting Standard aFf$I￿able In the UK and Republ￿ of Irel•d IFRS 1021 and the Companies Act 2006. Friends of 8enjamii Frarthlin HcAtse meets the definilicm of a public benefft entity wder FRS 102. A￿ts and liakn"lth"es are inrtolly rewnised at hist(Yical o)st (Y trartsacticm value unless othwwise slated in the relevant accwitsrYJ policy. 2.2 Going concem Trustees asxss ththcr the use of going ￿r￿orn 1$ apwwalg i.?. whgther Ihgre are any material uncertainb.es related lo events cr CorKIrt￿￿S that may cast signrficanl doubl on the ability of the Charity to continue as a going ¢1￿¢em. The Tru$lee$ make this assessment in respect of a pen¢xi of at ￿a$1 ¢)ne ￿ar from the dale of aUth￿i$a￿n for issue of the financial stslements and hove conduded that Charty has ad￿uate resour￿$ lo continue in operatKJnal existence for the foreseeable ftrture and there are Tr) malerial uncertainks al￿j1 ￿ Charitys akn'lty lo o)nlinue as a gsirKJ eoncem, thus tlw ttfitsnue lo ath)pt the sx)ing ￿￿Cern basis of acc>)unling in preparing the fin￿￿al statements. 2.3 Income AJI income is recognised the d￿rity has enlthmwbt to the income, it is prcthble that the income will ￿ reeeNed and anmxmt of incom? re￿1vable can be ffeasured reliably. Grants are included in the Statement of ffinancaal actiwbes a receivable basis. The balance of income received fc* speeffic trmjt not expended during the perioj is showr in the relevant funds on the 8alance sheet. Where income 1$ Teceived in advance of entr¢lemenl of receipl, its recognitKffi is deferred and Ind￿ li credrtors as deferred irKome. Where entsuement c¢cws before ineome is recetved. irttthe is ac(n￿d. Where the (knated gC￿ is a fixed asset. it is measured at fair value. unless rt is impractical to measure this reliably. in case the cost of the rtem to the donor should k used. The gain is recognised as irKcffie from ¢knnatl￿S a corresFthJirKJ amount is irKI￿]ed in the appropriate fixed asset class and deweuated over the usefvl economic lrfe in accordance Mqth the chantys aco)untr'ry pdicies. On re￿pt, dc￿ated professional service5 arbj faul1t￿5 are recojnised on the basi5 of the value of the gTft lo the chanty is the amount rt would have been willing lo pay to obtain or fa￿l￿"e$ of equwalent economic beneft on the open markeL a COrresp￿dirvJ amount is then recognised in expenditure in the perKxJ of re￿IpL Income tax recoverab￿ in relath)n to nvesknenl lic£￿e i8 reC￿L*l at the tirne the investment inLsJne receivable. Page11 Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P 14r27 Friends of Benjamin Franklin House IA company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 Atcounting policies (tontinuedl 2.4 Expenditure ExF￿¢￿tUre is reccwjn￿d or￿e there is a leg4 (f c¢)nstnthe rtJlVJab.￿ to transfer econcynic tenefft lo a third party, rt 1$ prcbable th* a transfer of eccfftynic tMefits wll t* required in settlement and the amount of the otr4igat￿ can be measured reliabty. Expendrture is dassffied by &tivity. The costs of each activty are made up of the tota of direct costs and shared costs, including support costs involved in undertaking &ich ath"vty. Direct costs attn"bUtaE￿e to a siryle acb.vty are allc£ated diredy lo that activity. Shared costs ￿1¢h o)ntrbute to more one acliwty and supptr( costs vthich are not attribula￿e to a sirKj￿ acbwty are ap[ty￿t￿ned befvfftn those actIv￿e5 a basis eonsistenl wth the use of resour￿. Central staff costs are allo¢aled basis of tme spenL and depreciation afges allocated on the wb'on of the asset's use. ExFen¢thture C￿ raisry fijrbts v)dudes 41 expeTrJrtwe I￿u￿ed by the charty to raise funds for its arrtable PL¥poses Ind￿ p)sts of *1 fundraising actsvit￿ events arKI non4haritable trading. Expenditure on char[ta￿e activib.es is incyrred ￿ directy undertaking ￿1¢h fvrther the ¢harty's objectives, as well as any assoc4ted costs. AJI expendibxe is Ir￿￿ve of *re(>)vernt* VAT. 2.5 Interest receivable Inleresl on fvnds hehj ¢n deposrt mduded vA)en re¢elvat4e and the amount can be measured reliably by the charity; this is rKffl)ally MtsfKabcffl of the interesl Pa￿ or pay￿￿e by the in$titulic wrth wkjm the funds are deF*￿ted. 2.6 Tangible fixed assets and depreciation T￿glI￿e fixed assets costing £1CQ or more ¥e capitalised and reec¥Jnised ￿en future ece￿¢thi¢ beneffts are probatAe ar￿ the t￿1 or vlue of the asset Can be measured reliably. T￿glI￿e fixed assets ￿ iThb'alty recO￿lsed at e4Jsl. After reeowitN)n, urKler cost m¢)del, tangible fixed assets are measured al (x)st less accumulated deprecIat￿n and any accumulated impaimient losse5. Al costs Ir￿rred lo bn.ng a *it4e fixed asset into its intended wc￿kIrlj Condit￿ should be induded in the measurenEnt of o)st. DeVeuat￿ft is tharged so as lo all¢xate the cast of taryitle fixed assets less their Tesdual value over their ests"m*ed usefvl INes. . DeFnCiation is wovthd on the follcMirwJ bases: Free￿Id - 2% straight line Historical Experience 5% Stra￿ht line Sludenl Science Centre 5% Stra￿ht line Computer ￿ office eqUip￿Ent - 33.3% straight lir 2.7 Inalienable assets Inalienat￿e assets ￿e rnt cap1a1￿1 n the accrAnts due to there being readily available and rella￿e valuation of the assets. Page 12 Rd. D71P*PIW221W 19 tkcX2517."7528I￿￿WC +OID 112P 1Y27 Friends of Benjamin Franklin House IA company limited by guarantee) Notes to the financial statements For the year ended 31 March 2025 Atcounting policies (tontinuedl 2.8 Deblors Trade and other debt0￿ are re(xyised at the sethement amount. Prepaymenls are valued at the affounl prepaid. 2.9 Cash at bank and in hand Cash at bank arKI ind￿￿e$ cash aTrJ strK4t-tem) highty liqu*J invesknenls with a short maturty of three monts or less from date of wiisilion or q)enirKJ of deF