CL4Y re8istrw nwther. 01629881 awity regi5tr8tion rmrnbtr. 284687 Nautical Museums Trust Limited (A compHny limited by The Warship Anry Tn* aTrJ th¢ w8wthipRcsolution Tnjst) frythe Ytw FA0 31 tkcanbcr 2024 A J Thomson FCA High Street Heathfidd E&%t Sussex TN21
Nautieal Museums Trnst Llmited Contents Rcfcrcnce and Administraiive Daails Tnw£es' Report 2to4 Iwnt Examinerfs Re S(aThent of FSn8ncial Aciivitics 6t07 B&l8nce Shcct 89 Notrs to the Fmancial yAatemts lo20
Naulltal Mosemms Trwl Lamited Referente and Administrailve Det T M¢lhn#ld Cbaiity Reratn Nllmbor 214687 cop ReKi•tioD Nllllther 01629881 Ro( A Nore Road TN34 3DW Indepemdent ExamiD¢f A J Thomson FCA 8 High Strcet H¢athfi¢ld TN2181 B*nker8 Nloal W&slrninyty Havelock Road Ha#it TN34 Ifjw CAF Bank W¢sL Malling ME194SQ
Nautl¢al Museums Trust Limited Trnstees, Report The trusiee5, who are dire¢rors tor th¢ purposes of ¢ompany law, rKtsent the anTru report iogcttKr with thc ri[wla1 ststements of the ¢h&itable compsny for thc year ended 31 Dccember 2024. Trustee5 and offr& The tn]ses And oificer5 %rving durin8 theycar artsl sirKe the year end were &5 follows: Trus1$. T mCDotd D Spooner A Dodge K Brnian (arvoint¢d 20 Jun¢ 20241 Statement of trnSlep5' Vtsponsibilitiu Thc trumees (who are also the directors of Nautical Museums Trtl LiThit¢d for thc purrxjses of company lawl are Tesponsible for PTeJ)0ring the trumees, report and the fina1 staments in accordance with applicable law and United Kingdom AoUnting Siendards IUnid Kingdom Generally Accepted Accounting Practicex incEudLTr8 FRS 102"The Financial Reporting Standard applicable in the UK and Republic of Ireland" Company law requir¢5 the tru5tccs lo prepare financial Stslements foT eath financiaj year. Under company Jaw the I$tS must rtot approvc the fLnaThcia] ststtmenrs unless they are satisfied that giv¢ a truc and fair VICW of the 5taL¢ of alr81 of the ¢hgritsbl¢ compAny and of the inming resourccs and application of resour. including i¢S infOTne and rnditUre. of ik charithble comp90y for th8t period. In weparing thtse financial s¢at¢methts, th¢ tnJstee5 are rquired to.. selcrt suitable ac£ouNin8 poli¢i¢s apply them ¢onsi5tcnily' obscrvc the methods ot)d prin¢ipl¢s in th¢ Charitics SORP. make judg¢m¢nts attd ¢stimwe$ that are reBson8ble and pruthni. stsie whether applithle accounting Standards. comprising FRS 102 have been followe4 5ubjccl to any material departure5 disclos and expiasned in the financial statements. and prepare the financia] sthtements on thc going concern b&8is unless 1¢ i% inappYoprÉate preswne thht the chariiablc company will wntinue in bu5in&%. The trustees are responsible for kceping rKopu accountin& r¢¢ords that can disclose with reasonable A¢¢uracy at any li¢ the financial position of the charitsbl¢ ¢omkwJy ad cnable them w ¢nsuTe that the flnaneial 5taiements eomply with th¢ Compa¢)ies Act 2006. They arc Blso respornsibl¢ for safeguarding the sets of th¢ Charitable mpany and hence for taking Teasonablc steps for the preven(ion and det¢cti¢Jn of fraud and other itt¢gularitie& Th¢ thteS re5r4Jnsible for the mwni¢twK¢ and integrity of thc corr artd fioanrial infonnation included on the chJriMbl¢ comlY,S bsite. Legisl10Tr governing the pjrparntion and di5seminwion of rLtWLciai statrmenls may differ frorn Icgislation in other jurisdietions. Objects thidl The objective for whith the Trust was e5tabli5hcd rcmairn the ssme- to promote the education, wthYstandin8 8md ettjoymcnt of 111m¢ hi$tory and archaelo&y for everyon The Trust rc8ard$ th¢ involvcrncnt of the public as a hi8h priority. aTfBnging Wl5iLS by schools and other ationaj organisation5> putting on prcsentaiion5, setting up guid walks as well cnsurin8 visitors to the shipCk Museum can easily and clearly und¥3wd the swies and histi1¢5 relaLing the wf8¢ts and exhibits on display. blle bthefv Pg8¢ 2
NAUtleal Museums Trnst Llmlted Trustets, Report In wtin8 the charity's obj¢¢¢ives planning its A¢uviiie4 the trustees contirm th8¢ th¢y hav¢ complied with the requirem¢nts of Section 4 of thc Charitic5 Act 2011 to hav¢ du¢ r¢8ard the public bcnefit 8uidanL% publis1 by the Charity Commisjion for England and Wole& The trus 85 Part of th¢ir r¢FKrL h4v¢ the CThairnMn give an account of the main events aftd ae4iviiies of the y¢ar. whith foll within his responsibilitles. RI¢11¢v1¢W The ¢rnIng surplus of £9,50012023'. surplus £8,578)on a totsl income of £122.705. Cash at year end waJ £45.74412023.. £49245). Followlns Iw y&s fomlal recogniuott by the Boord th&t the Trusi needs lo h)Id sufficleni reserves to b¢ abl¢ With3nd any unforesttn mairrial duCtion in its income an¢Yor ond unexpeeted iD¢r¢&% in costs. a sum of £5,000 has been duly set aside. This will be added w in the fv(ute. rnethrei xovernawct Noftwe ofGovernlKg DMeI NautÈC81 Museums Ttust L2mited LS a cornpllny limited by guornnitt 8ovemed by its MemorAndum and Articlcs of Assoclation. It Is re8LStered. 8lon8side hvo 6ubsldS8ry ¢rusTs.. Th¢ War8hip Antt Tt- and the Warthip Resoluilon Truai chariry. Recrnllmenlondoppolmnwni olirusiees Tru8tres ekn appolnd on an od hoc buls durlrtA the year by the Board of Tnsie¢$ lo fill iden(ified skill v1epft¢i. Any trus¢tt appointed during the y¢gr Ind one thlrd Of remoining trUScs #re subject reappointment by Mem) rf the Annu Genernl Mttting. AII tru8iecs are required 10 131 any potent1 eonflld of ini¢r¢si b¢¢w¢M their p¢r$onal ond prlvaie Intertsts d tholc of the Tru5L Organts#ilothil&ruclure The tNste¢# mccl cight times a year adm5nlsier the Charity ensur¢ ¢omp118nce with all re8u1lOns and direciivcs. This inclLtd¢s a r¢gular ViEW of the risks atta¢hed 10 the ojxrntion of the TnK Th¢s¢ riik areos covcr a wide range. in¢ludinBy but by rn means rutrithed 10.. la) prow eve MI trainin8 for volunteers en5Win8 DBS ¢hr(in8 18 implemented Ibl ovcrall heajih and fery Ic) insuron¢e MaerS (¢& fire, businc$5 intcmjption) Id) security for iN)th personnel and artefacts (el proper CBrc of th¢ Mu8¢um's artefa¢ts The Board of Trustces is ¢urr¢ntly looking to incre•ae the number of its m¢mb¢rs to help accomplish its ction and business pl. eMAccrtdll0Ilo Th¢ Musewn has full foal accreditation from the Arts Council of England.
Nautical Museums Trust Llmited
Tru5tees' Report
Clidirm4n'.F Repurl
Eneouragiiigly, tlie w)si-COVID recovcry in the Museum's lomines not¢d in 2022123 e()ntinucd iiito tl)e above
accpuiiliiig ycar. A iiutnbcT t>l' cxtcrnal facior% which ¢tsul(I havc Iiad a ncgativc impact wcrc idcnlificd, c.bi. ail
unusually larg¢ numbcr ol. mdjor road works iii aiid dround H&4ting% makinui ilLL¢.55 ilita) thL Iowi LhallcnkTjII&,
nvl lo iiieniion exLended period5 of ii¢Jver&e wcadier. Nur weTe pe55i1i115tic eeonon)ic foreci1515 1'ebTulurly
pp¢drinby in Ili¢ ni¢did pd11ibuldrly lirlptiill H()wrver, vi5iior nwnb¢rs ID &i¢nerdl bWLc¢vdvd in holdin) up, albeii
wilh ll stnull drop in the nuinb¢r ol. tho%e Loining Irotn Jbroud.
Overull incvine during tIIL yLar Wds very slitsihtly12.30/nl bclow tIIc PTCVLOUS ycdr's tDtdl. Miis pritndrily
rL%uli c)f IciwLr %hi)p iiiid (hL l(?%% (If iliLiTrmL friim Liuid¥d w(Ilk% lil IIIL wrLLk i)f ihL Am%tLrduin. thi% l
Nauikal MueuDU Tr&Tt limiled Independent Rtport to the trteeS of Nauti Trnst Llmlted {'the Company,) I reFQrt to the chrity on my <%1 of of thc CornpwLy for the year ¢ThJed 31 Dcccmber 2024. Rwondblllth Amd baHs of rep•rt As the tsity's tn]steC5 of Comw { aL%o diredots for F4llP)se5 of wmrooy igw) are r¢snsible for thc prqrtion ofts in with the requiremujts ofthe CoMleS Ad 2(M)6 {'the 2006 Aa'l. Having 1sfIed mysdf the of th¢ TWA rquired bc slId wknler Part 16 of 2006 ACL arkq arc cli8iFAe iThJetth ex1811 I rcpxxt in rcsrrtCE of my examilon of your charity's xcounts carrttd out seaiort 145 of the Chwitics Act 2011 I'thc 2011 Act,). In canying my ex8mination I have folk)wed the Directi givah by the Clwity CMiSsion ujder seak)n 145(5)(b) of th¢ 2011 ACL I have complcted my rxamitWiO¢L l o)rtfimi m¢$ havc L¥Jtne my allentiL in Con[cOn with th¢ ciaminarirffi 8iVill8 me 1$¢ to bcli¢vc: ofthe 2006 Arl or 3. the acc(Mmts do 1 compty with the rniin8 rwiwcmcnts of 5c&xion 396 of the 2(K)6 Act othcr than ny Tequiremeni the x¢ounts give a'In ar¥1 fvir vi•V wh¢ is 8 Tblattcr con%idued &8 Part of an 4. thr COunts havc bc in accorthe with the and win¢ipl¢s of (l Statcmcmt or R¢rommcrthd Practice for accr by charitie5 {applicabl¢ to chIticS prw2ng their 8cco11n in a¢¢ordall¢e with the Financial R¢pxu Stsndard applicable in th¢ UK aTrJ R¢publi¢ of Iretand (FRS 102)]. thould be drnwn rn this rep)rt in • wop¢r ofthc Ix A J FCA MannirW4)ns 8 Hith Strttt Heathfield TN218LS
Nautlegl Museums Trust Llmlitd Statsment ofFlnandal Aclivltles for the Year Ended 31 December 2024 (In¢luding Income and Expenditure Account and Statement of Total Recogntsed Galns and Losses) Rutrltted fuods Tolal Note In¢om• E))dowments from: DonDtions and le8acie$ Other tradin8 8¢llViU¢J Invcsuneni income 41,842 80,854 41.842 80.854 Tothl Income 122.705 122.705 Exp¢ndl¢ure on: Rai5in8 fimd5 Chllrithble activiii¢J 185,1801 28.025 (85,180) TO Expendiiure 13.205 113,205 income vement in fund5 9.5(10 9,500 RqcontliltlM of Tothl brousht fonwd 80,392 1.500 Tothl fund& cwried forwprd 18 89,892 Unrutrl¢t ndi 1,500 Re4trlrtÈ funds 91,392 Total 2023 Not• llltomt Endowrnents from: Do10$ and l¢Bacie5 Other iradlng activltles Investment irtcome 21.476 86.530 21,476 86.530 Tothl incorne 108.017 108,017 Exptndlthre oj: Ralsin8 fufftds Chvithble wcLivitieJ {77.294) 145 177.294) Total expendlttwe Net in¢4me 99,439 99,439 8.578 8,578 N¢t movan¢n¢ in funds 8,578 8.578 Ret•n¢llldon offunds Total fijndq brou8hl fotW8rd 71.814 1.5(10 73,314 Total fimds urrid forward 18 All of the Chlty$ adlvliits derivc from ¢ontlnuln8 operaonS during the &E<*ve Iwo ptriod& Th¢ nokJ on pag¢s 10 to 20 forni intelrai port of th¢s¢ financial statcmcnts. Page 6
muS¢un Trnst Llmlted Statement of Financial Acdvities for the Year Elld¢d 31 December 2024 (lkneluding Income and Expendi¢ure Account and Statement of Total Recognised GalDs and Losses) The fl& breakdown for 2023 is shown Én notc 18. Th¢ no on pages 10 to 20 form an integral part of these financia] ststemen¢s. Pa8c 7
Nautkal Mllseun Tn1 Llmlted (ReEiStrntlon number: 01629881) Balanc¢ Sheet as at 31 December 2024 2024 2023 Note FIAed TanBiblc wts 13 39.059 25,848 Cvr¢t ASS¢tJ 14 15 6,655 6,141 Debwr5 - due within one y Cash 8( battk oThJ In 1,307 49.245 16 45.744 52,399 56,693 Credltoys: Amounts fallln# wlthln othe yur Net Current 17 66 649 56.044 Net 91,392 81.892 Futhds of the charlty: R¢•trlrtod In¢opK Resthcted fundj 1,5(Kl 1.500 Unwtrltted lThcom• Unrestri¢ityJ thnds 89,892 80.J92 Total futhdi 91 The on pa8¢s 10 LO 20 form an intel p&rt of th¢se financid sta*rner. Pw8
Nautlcal Museums Trnst Llmlted (Regtstradon Dumber: 01629881) Balanee Sheet as at 31 Deeember 2024 For the financial year ending 31 Decrmber 2024 thc chariiy v4¥6 en¢iUed ¢x¢mption from audit under s¢¢tion 477 of the Companies Act 2006 rel1ng to small companie& DirKiors' re8ponsibiliue6: The members have not requtred the chariry to obtain all Audit of its Aecounts for th¢ yw in qucstion in accordznce with section 476. and The dirtttors acknowledge their re8ponsibiliiies for complying with the requiremert¢s ofthe Act with respec( &ccoutttinB records and the preparation of acc(MJnts. Th¢ financial staicments ott pagcs 6 to 20 were approvcd by thc trustees, and authoriscd for issue on . and sI¢d on their behf by.. T M¢Do Ttee The no on pages 10 to 20 forni inthgral part ofthN¢ fiDan¢ial sthwnrnt5. Page 9
Nau111 Mllsemms Trnt iamited Notes to the FlnaDelal Statements for tkn Year Ended 31 December 2024 l A¢¢outtthi polities The principal aco)uniing wjlicies awlied in thc WeForn of these financial statements are set below. Ststennt Oft01•re Thc finwKi81 hav¢ t¢en WeForcd in x¢ordarKe with A¢¢(&ing and Rcporting by CthariLies: Ststemenl of Recommendtyj P1¢¢ (arvlicablc w dwiues Fx¢paring dKir in accordw with th¢ Fitla] Reportrng Starmtard a]Il1t in the UK and Rqrtthlic of Ircland (FRS 102)) li&sutd in (kth 2019) - (Charities SORP (FRS 102)}. Rep)rfiog kndard arvlithl¢ in th¢ UK and Rewblic of Irel8fKI (FRS 102) otwl th¢ Compnia 2(K Bsl¥ of preprll• Nautid m$cnIs Tr1 Limid meds the defjnition of a wblic benefii ¢nLiry wwJ¢r FRS 102. Assds and liabilities are initity re¢wiscd ¥[ hiAor1 v8lw ls¢ stad in th r¢le¥t ¢owiting w)licy Ixite& Going eODrern TCVieW way5 to crtsure fuDue finwKiaJ wyatrmbility. Ther¢ are IKI Significant are of th&t aff anying value of assets Idd by th¢ Charity. Exempti•B from preparing A tAsh tlow ststtwtmt The charity opted to ¢aTty adopt Bulletin I pknli5hcd on 2 Fdw 2016 hve theref TWA Ind 8 cash flow stEt¢mcnt in thc5c fin•)81 StsLemen All irt¢om¢ is rco)gni5d once the clw to the it is the iOe will be rt¢eiV andth¢ am¢Juni ofthc income recei1¢ (an bc *bly. Djnations arc recogni5d wkn tk dLLY h&5 I1 wtificd in writirg of the amount and setticment date. In tIK event that a (k)naiion i¥ subjea to ¢a)ndition$ that requir¢ 8 levd of pxvformantt by thc dMrity before the charity is ¢tKiiled to the fiu¥J& th¢ irK(Mne is d¢f¢rr and recolSed until either thrffje Wnditio ar¢ fvlly meu or th fiJ]filmts¢ of conditions i5 Twknlly within thc COTthIl of tht charity li is woiMbl¢ the conditions will bc firi]led in the reEXlrtin8 rccogniscd as a liability and Incl on shcet as defemd i¢ to be rd¢th Dividervjs arc rccogniscd once thc dividend h&5 brrm declared nlfil10 h&% bets rec¢tveJ of divide4 eio
Na•lieal Mu8e•ms Tru¥t Llmlled Notes to the FlnaD¢ll Statements for the Ye4r Eed 31 December 2024 Expendlthr¢ All expenditw¢ is reco8tJised on¢e there is th le1 or LThSlnthve obli8aU cxpuKl1tU it is sYobgbl¢ senlemeni is requircd thc amoum (n bc rncaswd Yeliably. All costs are allo¢¥tgJ to thE vwlicabl¢ rAdine headinB th• 888r¢8a similv Costs to ¢at£gory. Where }Sts bE directly attriljutcd to pllrtiadar headin85 th¢y have bren llllocated on a iwis con5isthnt with the use ofrc50Lrn. with Centr atr oists ailo¢ated on the b&5is of ufflc sp¢ Bnd dc¢¥eciation ¢h•r8¢s all1d on the portion of the &ss¢¢'S US These are cos¢s In¢uwred in altwaciin8 volunwy the of inve5knts th¢ Incwrcd ltt tr&dln8 activiiies rais¢ fvThl Chartsoble o¢rfvttl Chari18ble cxpendinwe tpri%$ costs iTh)xrtd by thc in the delivoy of its gdivtties servi for its benefjcbaries. 1¢ K1je$ c0515 can be all(¢4 direaly suth xtiViii¢s and those c4)sts of pport ¢wts sUp)rt includ¢ ¢¢ntsd fill10n5 knve bcen allor•d w l¥lty ¢ate8ortes on a 1$ consistent with the use of resoum, for exampl< allo1n& FrfOPW ¢osts by fl(w or¢aJ, or r 5t4tT c05ts by the time swi arbj othu costs by their Covernin¢e These in¢lud¢ thE coJts attri&M¥bl¢ the Charity's Lwplimce with Wwiwilon aryl r¢4uinnen irKludin8 AudiL ltralcRic m¥1DMeN rd#J Tnuc4' meaingl d TAiitlon The charity is Mnsidfftd the set out in I Schethle 6 of the FinErKc Ad 2010 and there(¢ It mects thc definiiion of a chanble ¢4)mF•ry for UK ¢wpYatson purpm. Acc4)rdingJy. the thDrity IJ (entIallY ex•no from ¢&x&ion in of incom¢ ¢api¢aJ gains Teceiv¢d within catc8ories covered by Cwer 3 PDrt I l ofthe cor1 Tu Aa 2010 or Scoion 256 ofthe T&(10 of Chptwble Gwns A 1992. 10 the cxtcni thaL swh irKwie orylr4 e aFg1ied exCI1¥¢1Y ¢0 dwi¢abl¢ 1)&e. TnKlbk fixed Individual fLx¢d &%sets ¢ting £5(P).00 ornve inili4lly rea¥dedth ¢OSL The Ctwity mainthins Acc¢$81( R¢gistu the Mai1 of tk •n¢faas h¢ be ¢knnated 10 or are on lokn to the charity theE¢fty¢ v4lu•wi b¢¢n cwricd ¢xA anefxts ¥e Mt included in th¢ charitys Bglan¢¢ She DepretltloA md amorttstlo# D¢prccialion is wovidcd on tan8ibl¢ fixe41 so as to write olT the L7bSt or v•luioN kss estimakd resid1 v8lu4 over their Expeud ec(mmic life as follow&" Asset ¢lAss Buildin8 Conversion ExhÉbi¢ion C&vs Fiiuii85 OITicc EqUIe rhono) 12.5%on e05t 20% straig Ln
Ngutkxl Trust iimlted Notes to the Flnattcial Stat¢m¢nts for the Yr Emdtd 31 December 2024 SAotk Stock is valued at the lowu of COA Ind cstimatoj sdlinB pric¢ k53 U)As ¢thnplctr and xll. after due reBArd ror olwla¢ slow nvIng stocks. Cost i5 damiAeA wire the fitst.1 firtl- (FIFOk Trid¢ debto Trade debtors are aMoW from ¢wlomer5 for mucl4ndi ¥Jld tr scrvices pthed in the ordin cowse of busirK Trk dcknj 4r¢ re¢fj8nised initlaily at thE CAsh and ush C&th and cash equivalenLS ¢omwse ¢&h on hand ¥J 11 dqxtsits. SI.rM highty liquid Invutrnety tha¢ 8r¢ rudily wnvertiblc kib)wn wmow of ¢8sh subject w an insi8nifithii risk of ¢hw)8¢ io val Tr•d¢ ¢rydl¢o Trade crediiorj ar¢ obli8atiMI for or scThiecs h•ve been acquired in th oTdiThory wurje or business from supplicrs. Accounts wable ar¢ ¢183Jifid Ilabililies if th Lthwity doE5 have an urKonditional ri8hL ai the ¢ThJ of the reFK)rtini to dcfer sclllemeni of the editOr for a¢ l¢aM Thvelve month5 after the rcpffiing date. Ifther¢ 1> u111101 right * thf¢r sleMl for le1 Thvdve mtyth &fter the rcwrtingdaio they are liabiliiic& Truk crediwrj we reco19¢d iniliaily at the wi¢¢. Borro•lnp IntcrcM.besrin8 lJorrowin85 are lnill]Y re¢othd at fr vBluk nel of Lrsts. Int¢ttsi.b¢oring bJrrowin83 SubSeqni tled * Imortised (y)sL with thffer¢rn% bdween the ryoceeds. ttet of tratuection COS and thc amouni due on red¢rnwion t¢lD8 Teewlsed • a dhv8e the Sthtunenl of FliiincÈ Adivitics over the period ofts r¢l¢vart i1& IMer¢M 1$ r¢co8nised on the Lwis of th ¢lTtttive inwtst metrthl knj is IK]d in inrrst and simlltr ¢5. Borrown8s are ¢lauifKd w currert li•titliiiu dwity lLndirI1 ri8ht deter of the liability for wt lewrt twelve mrmth after the rep)nin8d Unrestriaed incomc fi]Thts ore S•l fimmts Jre availthle for use * the truaccs diraion in fiJnhttwKe of the objeeiives of the dwriry. Desi8nated fun(b ar¢ set aside for wifK at the di8veI of tk ¢nMes. Restriaed itKtyne fiThts are in # l¢tar arca or fty sFrtifi¢ pwp)S4 IIK use of which P4¢ 12
Nantical Musenms Trnst iAmited Notts to the FinaKknI StAlements for the Year Ended 31 December 2024 2 Ineo•e doM•d•w •d Iwd ds Geller41 Totsl fundi DonlOn5 from irwjividwls Gift Jid r1Ml Granr¥. including ¢apithi Mb¢th and Bisiw Tnmt T•tl f•r 2024 22,289 3 J53 22,289 3,553 16.000 16.000 T•tl f•r 2023 21,476 21.476 TotAI G¢•¢rAI TTodin8 in¢omv. s¢5 of 8oods knd aeTviees Events intome,. 80,239 615 615 Totsl for 2024 80.854 TO for2023 86J30 4 lovutM•Dt lTht•me U&restrltt fuDd¥ GeA¢r•l futhd• Interesi reEdble arbl similw irw InicTeit r¢¢eivgble on W &Flts Tol1 for 2024 Totsl for2Q23 P4e 13
Nallli Musellms Trust Limited Notrs to tbe Flnnelal Ststrmethts for the Year EDded 31 Dec¢mber 2024 S Eipwdltyr¢ rltslni •} Cmts of dlvle UDr¢8trf¢ted f•llds GeDerAI To¢•1 Note Cosis Of8 sold Membership subsuiwions Mwketin8 and publicity tkpreciai5on, wnortisalion and other wmi18r wjsls Othcr costs of iviiiN for s#18 fwm Toll for 2024 38239 38 1,793 3.167 38,239 38 1.793 3,167 83.989 83.989 Tothl for2023 76,035 TotAI f*Dds G¢DerAI Finqnce ¢horg Bonk ¢h T•tsl for 2024 T•t#l for 2023 1259 59 P48¢ 14
Nouti1 Museums Trn$t Umiled Notes to tb¢ Financial Statements for the Yellr Ended 31 Detember 2024 6 Expenditure on ¢hiri¢ablt adivitiu Vmrntrided fund5 GeDer81 Totsl Not¢ Staff costs Allocat support costs Governance costs Activilies undertth direaly Total for2024 925 6,682 5.213 15.205 6,682 5213 15205 28,025 28.025 Totsl for1023 22,145 22.145 In addition to the cxpcnditure anatysoj thtt¢ are also 8overnarKe costs of £5,21312023- £5.980} which relate dITllY dwithble a¢tivities. Sec notc 7 foT fijrther de(oil8. 7 AM#lysis of govtrnanee Support eosts fund$ Gelleral Total fund$ Indcpcndeni examiner fees Examinalion of the finan¢id statcrnents t4a] and Prtsf¢ssional fecs 4,452 761 4.452 761 Tolal for2024 5.213 5.213 Tolal for21)23 5.980 5.980 Page 15
Nall1k Trust Llmlted Notes to the FIDxts¢ial Statements for the YeAr Ended 31 December 2024 Nrt ltyeowi•8loutgoing resollre Net incoming resoLfCeS f th ye¥ iw]u Dcpreciation of fExed assas FinHrK¢ charges payable 3.167 3.167 1259 9 Trustees rernv•ertloo Ad 111 StstT¢4)sts Th¢&gal¢ rAyroll Lwts w¢r¢ os folknvs: 2023 Staff eosts durini the ytsrwert: Wage5 and salarie5 Plon costs 40.752 34,101 1.577 41.677 35.678 No employee received of £(XIthrln8 the year. 11 1ttd4pelld1 ¢XAmiDW'i remuntrtl•# Examinion oftr* financial #atem•ll5 4.452 3J84 Py16
Navtit•l Tt LIned Nol¢s to the FknaDc1 StateDKDts for the Year Ende4131 December 2024 12 Taxatloll The charity is a regiMered dity is therefore from 13 TaD8lbl¢ fixed Exhlbldo• Csts nd rittl•p B¥lldlllg E4tsipmeNt T•tsl Cw¢ At l Jgnuory 2024 AddiLions 95.798 16,380 68J60 20.293 184.451 16.380 At 31 De¢¢mt¢r 2024 112.178 68.360 20,293 200.831 tkpretlatlo At l January 2024 Chv8e for the year Ai 31 D¢c¢mber 2024 71334 67.668 240 19,602 158,604 67.8 20.286 161,772 Net b¢ vht Ai 31 Dec¢mt¢r 2024 38.(Al 452 39.059 At 31 December 2023 24.464 692 691 25.847 14 Se•tk 2023 Sts)cks 15 Debton 2023 P4¢17
Nallthal Tr Limited Notes to the FIDxnclal StstrllDts for the Yur Ended 31 Dttember 2024 16 C•sh ca5b equivalents 2023 Cash on hand 371 44.638 735 11,602) 50.675 172 Sknrt-tcml dcpc6its 45.744 49.245 17 Creditors: m•llDts falliwg due withiD year 66 649 P¢ 18
N4Nilcal Mmseums Tr•s¢ Umltod No¢es to the Flnanclal Sta¢emeDts for the Year Ended 31 December 2024 18 FDnds B•ltt¢t #t 31 D¢tembtr Bal••¢¢ •¢ I expded Uurtstrltttd funds urrutr1c Fund 73Jty2 122.705 (1132051 14,892 Dcsi8nated FuThl Totsl utsrestrftt fqn 5.000 80J92 121705 {1132051 89,892 R#trl¢ted funds Royal Pavillion 1.500 Totsl 11.892 113.20 91.392 BAl•nt¢ 1131 Ru•urees 2023 UDrutrlrtd funth Ga¢rnl Unr¢striad Fw 6&814 108.017 (99.439) 75J92 DesiBJwi¢d Fund T•thl ullr¢strt¢kd 71.814 108.017 (99.439) 80J92 Royal Pavillik 1,5(10 Tot*1 fouds Th¢ 3Frfifi¢ ftrwhich thE to be 4ylied are as foll. Royal Pavillion- Coul 8nd ReL¥uiunu P4¢ 19
Nauil¢al Mu8eMJM Trnst iamlted Notes to the FlnaD¢lal Stsiemtnts for the Year Ended 31 December 2024 19 Allalysh of tset futhds At31 Ai l JknDory FID•Athi December 2024 Cash llt bllnk and in har*J 49.245 3.5(Kl 4S.745 45.745 Page 20
N•utiul Museums Tnul Umited Detalled Statem¢nt of Fill141 Aetfvldes for the Ye•r Ended 31 Deetmbtr 2024 T41 2024 Totsl Intome aDd End•w•ots froML' th)nl0 artd Ic8acies (tys below) (Xher w1n@1vI1l¢s (mAlys)J tth) InvestmMI inwme {wMlysed E¢low) TWJ in¢ome 41.842 21.476 86,530 122.705 108.017 EJp¢thdhur¢ OM: RaiJin8 funds la¢)alywJ E¢low) Charitabl¢ aaiviiies {atMlysed below) To41 ¢XFffidiNre Net lttcome (85,1801 (28.0251 (77.294) 113,X15 99,439 Nd movuncnt in funds 8,578 RetontlllAtlon of f•ndi Tothl thnd5 brou8ht f¢Mrd Tothl fiyKIs C4rried forrtd 81.892 73.314 91.392 P4¢21
Mw¢ums Trust IAmlted Detailed Statemen¢ OfFinaD¢i A¢tiviti¢5 for tbe Year Endd 31 De¢eJnber 2024 Total Total 2023 ldICI¢t5 21289 3.553 16.1 18289 3,187 Gift Aid t&x Rxjairncd Grnnts Receivable. Primrose 41.842 21.476 Sales of wr¢has¢d goods Charithblc Activiti&Evcnts 80239 615 84.075 2,455 80.854 86,530 IntertSL R¢c¢ived Rwift¥f¥Ads {38.239) 11,943) (38) (36,400) Stsff NIC ffmplornl 120) (1259) (34.101) (2J47) 11,916) {2401 Bank ¢h*g48 Wages and SarleS Advertising Dcprccialion of fredlold property Dcprcciation of fixDJrcs aThJ fiitin8S Depr110n ofoffict ewiwi (38.809) {1.7931 {22441 (240) 85.180 177.294 15) 1333) (30) (161) (201 {1.5771 1471 (896) sY Expa Pension Costs Trnvelling (1.094) L il Rmt ar)d rdtes Water rntes Lig1( htat and FKiwer Insurance 1290) 1183) (3244) (4.452) (9J52) 11041) 1663) (7431 (186) {3,5531 (2.7211 {3.5661 (1,901) (794) Tel¢plKJn¢ and f PrintiD& and s¢ationJy
NaotltAI Musellll Tr•s¢ Umlted D¢tailed Ststement of4¢1 A¢tiviti¢s for the Year Ended 31 Deeember 2024 Totsl T•tsl 2025 Legal and PTofe&sionaJ ftts- Examina Lcgal and pro(lOn9] fees {4.452) 1761) 13,3841 12.5961 {28.0 Thi5 P•8e does (Orth¢ financial ststernlts.