GODALMING MUSEUM TRUST IA Company Llmlted byGuarantee) RÉPORT AND UNAUDITED ANANCIAL STATeMEP4TS FOR ThE YEAR ENDED 31 March 2025 Comp•ny Reilstered No. 1968010 IOOq8591vl
GODAiMIN6 MUSÉUM TRUST IA Company Llmlt•d by GuK•nteel Icompany R•8lst•r•d 14umb•r 19680101 REPORT AIID UNAUDfff D FIPIANCIALSTATEMENTS FOR ThE YEAR ENDED 31 March 202S INDex Report of the Trustees Ito4 ststement of Flrsancial Activities Sto6 Bolance Sheet 7t08 Notes fo the Flnan¢lal Statements 9t013 Report of the Independent Examlner 14 Incom• and Expenditure CoUnt 15 I58%1vI
GODALMING MUSEUM TRUST IA Company Llmlted by Guarantee) Icompany Ae8lstered Number 19680101 REPORT OF THE TRUSTEES FOR THE YEAR ENOED 31 March 2025 The Trustees present their Aeport and the Financial Statement5 for the year ended 31 March 2025. CONSTITUTION AfrIO PRINCIPAL ACTIVITY Godalming Museum is a company limited by 8uar3ntee (Memorandum of Association dated 4 November 19851 and 15 a registered charity. The principal activity of the Company is the provision of museum facilities in Godalming for the public benefit. TRUSTEES AND DIRECTORS: The Directors at the end of the year under review were.. W M H Edwards. MA (Chairman) AA R Goodrid8e, MBE, LLB Ivice Chairman) A Kelly. FCA CMlSmithMA M L Steel FCA Treasurer.. A Kelly FCA Re8lStered Office: 109A High Street Godalming Suryey, GU7 IAQ Independent Examlnèr: P J Osbome, FCA 7 Oaks Lane Bookham Surrey KT23 3FD Bankers- HSBC Bank PIC
GOOALMING MUSEUM TRUST IA Company Limited by Guarantèel Icompany Re8lstered Number 19680101 REPORT OF THE TAUSTEÉS FOR THE YEAR ENDED 31 March 2025 Re8lSttred Charlty No: 292155 Accredlted Museum No: 255 Revlèw of P•rfom)ance, Progress and Athlevèments 20Z4- 2025 Introdurtion A busy year for the Museum with much change in personnel across the board. Following the retirement of Alan Bott as Chairman of the Trustees the Trust welcomed William Edwards as his successor. William. o Partner in law lirm, Edwin Coe had been a trustee for a nurnber of ¥p3rs, having lived in Godalming all his life is enthusiastic to take the Museum forward working c5osely with Curator. Rhiannon Jones. At the same time as Alan's retirement two other trustees retired after long service, Celia Forbes and Mary Heath- 8ullock, Revlew of Achievement5 and Performance 2024IS New Trustees There w35 a need to find suitable replacement trustees at the earliest opportunity, and during the course of 2025 we have Successfully identified three new trustees, Sarah Dickinson, Vicki Bradley and Sarah Kelly. who will lake office in the summer of 2025. Sarah Dickinson is currently chairman of the Surrey Gardens Trust, Vicki Bradley is the Alumni Relations Manager at King Edward's School Witley and Sarah Kelly, Executive Director of Prime Residential based in London. Each of the new trustees will bring their extensive knowledge of fund raising, rnembership and organisational skills to the Board in order to boost the fund-raising projects needed to take the Musetjm to the next stage. E3£h enthusiastit to be irvolved with the Museum we are excited io have them all on board. A new Museum Coordination Group has been established. meetings regularly taking place involving a number tsf the trustees, the curator and the representatives from the Town Council chaired by the Town Cleik to provide a forum to discuss the progress of the Museum amy issues arising. The Group is ensuring close cooperation between the Town Council and the Museurn TTU5t. enormously helpful to all concerned. We are delighted to have Ellie Whitelaw looking after the M¥seum as Curator whilst Rhiannon 2one5 Is on Maternity Leave. Le¢ture Series In terms of events the trustees have b005ted the number of lectufes per annum to onE per month now, all held at the Wilfred Noyce Centre. Numbers of attendee5 are Increasin8 from 60 upwards, whith with an Increase In tscket prices has Created a nice profit per lecture. both raisin8 awareness for the Museum and boostin8 ou¥ much needed Inctrme. The season began with a Kate Nicholson's lecture, Behind Everest- a talk corcerning Ruth and fjeorge Mallory and their èssociation wlth Godalrning. Sub5eouent lectures were given by Professor Craig Underwood I Space and the Surrey Revolution) and Dr David Whitehouse l Exploring Space and looking for lifel Julian Humphrys (The Battle of Guildownl. Our next lecture is being presented by Hilary Underwood in July on the topic of Surrey Artists. The Gèllery has held regular display5 and hosted book launches during the course of the year including Kate Nicholson. IfA15R491vl
GODALMING MUSEUM TRUST IA Company Lirnited by Guarantee) Icompany Re8lstèrèd Number 1968010) REPORT OF THE TRUSTEES FOR THE YEAR ENDED al Marth 2025 Icontinuedl Volunteers We hève welcomed g new volvnteers during the year, although we do have quite a few volunteers on long term 3bsence so currently breaking even, meaning that staff are h3vin8 to leave their work in order to ¢over shifts at least three times a week. RecruitmeDt is becoming difficult across the volunteer sector due to 6(70-year-oldS either coNtinuing to work or taking on child minding duties to help fatnilies with the cosi of living. Long term we may have to considÈr eithÈr putting some paid hour5 into a desk receptionist role (which would be a Trust expense) or moving a sm311 desk and pc downstairs SO that staff can contiftue their work whilst covering reception The 5hDP The shop Is dolng very well desplte a slower Christmas than usual. The Teason for this is twofold, the increase in postage costs just as Christmas approached meant sales of cards werè down 15% although compared to a 35% decrease acr05S the retail industry. We did very well especially as we only had the public 83llery for two weeks le3ding up to Christmas Eve instead of the usual 6 weeks. WE have also used thls year to refurbish the shop and bring it up to retail standards whilst increasing capacity lor stock. 2025 Is looklng very prornising and profit5 are looking good: Chr15trnas will be 3 6-week period in the extended area. We also planning shopping evenings for Friends, Volunteers and Town countil staff with a sm311 discount offered. Acqui5ition5 The Museum has recently acquired an irnportant Bron2e Age pen3nnular ring, found ir? Shamley Green by a metal detectorist and this will soon go on display. Subjert to fund-raisinÈ plènnifig, the Trustees are currently considering the acquisttion ol hoard of Iron A8e colns comprising three gold states IABC 5271 and seventeen silver units (all ABC 65013150 found in Shamley Green. The hoard is very rare- the coins thernselves in lovely condition ènd beautifully decorated. Fund raising ThÈ TrusteÈs are planning numerou5 fund-raising 3Ctivities startin8 Wlth once-a-monrh events to boost the Income for the Trust with the expectation of now reducing rhe deficit significantly. A quiz is being planning for Septernber. A new fund-r3isin8 committee has been e5tabli5hed consisting of members of the irustee5. volunteers and friends of the Museum with a view to creating a new Platinum Friend arrangement and a new Corporate Sponsorship package. A larger event is being planned for the Autumn to be held èt Charterhouse and the nature a*d format of this is bein8 planned by the new committee. The aim of the Trustees is tts turn around ihe deficit, b005t the awèreness of the Museum in the town, grow the edu£3tional programme opportunities. 3nd increase the footfall in the Museum by creating new events. Our increased 50£i3l media presence. better website are making a difference especiallv amongst younger families and schools. We would like to ihink that this year would be the fSrst year we are not in deficit rf all goes to plan. I4191VI
GODALMING MUSEUM TRUST IA Company Limited by Guèranteel Icompany Reglstered Number 19680101 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 March 202S Icontlnuedl Review of Financlal Actmtles and Results DrIng the year a deficit or Unrestf¢Cted Funds of £8,491 was recorded., in addition we benefiited from an ¢ncrease in the market Value ol our investments 01 £2,956, reducing the overall deficit to £5,535. We also continued to invest In the future of the Museum by way of gallery and general museum improvements and redecoraiions. Overall our asset base remains stronB with total net assets of £220,253 35 at 31 March 2025. The Trustees are very aware of the need to expand how we generatefunds internally and are determined to ensure that we at least break even in the coming years. W M H EDWARDS Chairman otthe Trustees Date:..... 1&]58£91wl
GODALMING MUSEUM TRUST STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatin{ Income and Expenditufe Account) FOR THE YEAR ENDED ai March 2025 Gtneral Funds Restrl¢ted Funds Total 2025 Notes INCOME Grants and donations Incorne from tharitable activities Incorre from other tradin8 activitles Investment income 9,651 3,656 22,648 7.964 9.651 3,656 22,648 7.964 Total Income 43,919 43,9J9 EXPENOITURE Expenditure on charitable activitie5 Project e¥penditure 52.410 52,410 4,722 4,722 Total expenditure 52,410 4,722 57,132 Net empenditure before loss on InstmentS and transfers between lunds Unrealised surplus on Investments 18,4911 2,956 14.7221 113.2131 2,956 Net defitit for the year 15,5351 14,7221 110.2571 Reconclllatbon of fund5 Total funds brought forwèrd 213,210 17.300 230,SIO Total funds carrled fonvard 207,675 12.578 220,253 IfAI58$91yl
GODALMING MUSEUM TRUST STATEMENT OF FINANCIAL ACTIVITIES Ilncorporatln8 In¢ome and Expendlture Ac¢ountl FOR THE YEAR ENDED 31 MARCH 2024 General Funds Restfirted Funds Total 2024 Notes INCOME Grènts and donations Income trom charitable activities Income from other tradin8 attlvlties Investment income 4,733 6,328 21,501 6,179 3.OlXJ 7,733 6,328 21,501 6,179 Total Income 38,741 3.000 41,741 EXPÉNDITURE Expenditure on charitable activities Project expenditure 48,379 48,379 15.317 15,317 Total expendlture 48.379 15,317 63,696 Net expendlture before loss on In¥estments and transfers between funds Realised profit on investments Unrealised surplu5 on *nvestments Tran5feTS between funds 19.6381 27 3,488 14,0881 112.3171 121,9551 27 3,488 4.088 Net deficit for the year 110,2111 18,2291 118,4401 Re¢onciliation of funds Total funds brought forward 223.421 25.529 248,950 Total funds carrled fonward 213.210 17,300 230,510 I%8591¥1
GODALMINfj MUSEUM TRUST Icompany Reglstered Number 19680101 BALANCE SHEET AT 31 March 2025 Notes 2025 2024 FIXED ASSETS Tangible fixed assets Investments 5.758 183,780 194.349 189,538 194.349 CURRENT ASS5 Shop stocks 11.380 8.828 Debtors: Income tax recoverable Prepayments 850 3.071 813 1.647 3,921 2.460 C35h at bank 3nd In hand.. Savin8s account Current accovnt Shop bank account Cash in hand 5,895 4,333 7,884 234 14,348 5,943 6,914 795 18,346 28,000 33,647 39.288 CREDITORS: Amounts lèlllng due withln one year: Creditors and accruals 2.932 3,127 NET CURRENT ASSETS 30.715 36,161 TOTAL ASSETS LESS CURRENT LIABILITIES 220,253 230,510 Represented by.. FUNDS Unrestricted General Fund Restricted Funds 207,675 12,578 213,210 17,3(K) 220.253 230,510 1605¥591vl
GODALMING MUSEUM TRUST (Company Re8lstered Nurnbef 19680101 BALANCE SHEET AT 31 Marth 2025 Icontinuedl For ihe year ending 31 March 2025 the Company was entitled to exemption from audit under Sectior¢ 477 01 the Companies Act 2006. No notice has been deposlted under Section 476 of the Companies Act 2006 in relation to its finaneial statements for thÈ year. The Trustees acknowledge the respon51bilitie5 for complying with the requirement5 of the Companies Act 2006 with respect to accounting records and the preparation of accounts. The financial statement5 have been prepared in accordance with the provi51ons of Part 15 of the Companies Act 2006 relating to small compènles. Approved on beaOf theTrustees on ..... W M kl EDWAR A KELLY If4)58591vl
GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 March 202S ACCOUNTING POLICIES The prin£ipal accounting policies adopted, judgements and key sources of estSmation uncertainty in the preparation of the financial statements are as lollows.. al Basis of preparation The financial statements have been prepared in accordance with AoUntIng and Reporting by Charities: Statement of Recommended Practice applicable to charitie5 preparing their accoynts in actordance with the Financi31 Reportin£ Standard applicable in the UK 3nd Reptsblic of Ireland IFRS 1021 (effective I January 20151 ICh3rities SORP (FR5 10211, the Finaneièl Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Godalmirng Museurn Trust meets the definition of a publtc benefit entity under FRS 102. Assets and liab¢litie5 are initially recognised ai hi5toiical cost or transaction value unless otherwlse stated in the relevant accounting policy notes. bl Goin8 concern The accounts h3ve been prepared on the going concern basis. The Trustees are confident that this basi5 Is appropriate. cl Income Income is reco8nised v4hen the charity has entttlernent toihe funds, any performance conditions attached to the iternlsl of income have been met, it is probable ihar the income will be received and the amount can be measured reli3blv. dl Irstere5t receivable Interest on funds held on deposit Is included when receivable and the amount can be measured reliably by the charity,. thi5 s normally Ltpon notification of the iAiere5t paid or payable by the bank. el Fund accounting Unrestricted funds are available to spend on attivities that further any of the purposes of tharrty. Restricted funds are donations whith the donor has Specified are to be solely used lor particular areas of the Trust'5 work. 11 Ejtpenditure and irrecoverable VAT Expenditure 15 recognised once there is a legal or constructive obligation to make a payment to a third party, it is probablè that settlement will be required and the amount of the oblieation can be measured relièbly. 81 Tangible fixed assets These are £apit3lised il items are experted to derive benefit to the Museum over a period of more than one year and are shown at the lower ol cost and net realisable value. Depreciation is provded at the following annual rates to write off the cost of each asset and its expected useful life. Plant and machinery Fixtures, equipment and display boards 20% straight line IO% straight line I55¥1]
GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAA ENDED 31 Marth 2025 Icontinuedl ACCOUNTING POLICIES {tontSnuedl hl Stock Stock is included at the lower of cost or net realisable value. il Debtors Debtors are ¥ecognised at the settlement amouni due. Prepayments are valued at the amount prepaid. Cash at bank and cash in hand includes cash and short term hi8hly liquid investments with a short rnaturitv of three months or less Irorn the L4ate of acquisition or opening of the deposit or similar account. jl Creditors and provisions Creditors and provisions are recognised where the charsty has a present obligation resulting from a past event that will probably in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated Teliably. Creditors and provis¢ons are rnormally recognised at their settlement arnount. kl Finan£ial instruments The trust only has financial assets and financial lsabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentlv measured at their settlement value. LEGAL STATUS OF THE TRUST The Trust is a company limited by guarantee and has no share capital. In the event of the charity being wound up, the liability in respert of the guarantee is lirnited to £1 per member of the charitv. INCOME FROM CHARITABLE ACTWMES Unrestrlrted Funds 2025 Unrestrlrted Fund5 2024 Friends. subscriptlDnS Fundraising events Educationèl. group visits and loan boxes Corporate donations 100 Club surplus Sundry ircome 2,020 2,837 401 785 1,250 975 570 250 816 3,656 6,328 INCOME FROM OTHER TRADING ACTIVITIES Unrestrfrted Funds 2025 Unrestrlcted Funds 2024 Shop, exhibition and refreshrnent sales 22,648 21,501 10 I)£8.91¥1
GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOII THE YEAR ENDED 31 March 2025 Icontinuedl EXPEf4DIWAE ON CHARITABLE A1VITIES Unrestrlcted Funds 2025 Unrestrlrted Funds 2024 Shop purchases and payments to exhtbitors Rent 3nd in5urarnce Utilities, telephone and irfternet Archiving, c3taloguin8 and conserv3tign Repairs, maintenance and securitv Event costs Cleaning, waste disposal and garden costs Cornputer cost5 Publicity and newslettei Other expenses Governance costs- independent examiner's fee Museum running costs Parking Trust administration Professional fees Depreciation 13,689 8,102 9,598 392 1.488 1,747 5,509 439 505 4,847 soo 2.208 S52 631 i.C4JO 1,203 11.138 7,881 8.307 2.502 1.9S8 4.235 363 692 3.202 5(K) 4.611 507 2.483 52.410 48.379 TANGIBLE FIXED ASSETS Plant and machinery Fixtures, e¢Juipment 3nd display boards Total Cost Additions as at 31 March 2025 5.069 1,892 6,961 Depre¢latlon Change for the year and at 31 March 2025 1.014 189 1.203 Net book value At 31 March 2025 4,OSS 1,703 5.758 11 160585Ylvl
GODALMING MUSELJM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Marth 2025 Icontinuedl INVESTMENTS 2025 2024 Schroders Charity Equity Value Fund 3.527.84 unlts 60,079 55,458 Caienove Charity Responsible Multi Asset Fund 15,470.30 units 10,701 10,891 Market Value as at 31 M3rch 2025 70,780 66,349 COIF Charities Deposit Fund I13,0 128,000 183,780 194,349 STOCKS 2025 2024 stocks for resale 11,380 8,828 RESTRICTED FUNDS Onllne Slr Kenneth Servlce5 Clvcas Legacy lan Flemin8 Fund TOYAL EXPENDITURE Project expenditurè 14,3001 14221 14.7221 Balance brought forward- at ? April 2024 3,0(KJ 4.300 10.000 17.300 Balance carried lorward at 31 March 2025 3.000 9.578 12,578 l(d)%8591vl
GODALMING MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 Marth 2025 Icontinu@dl io. TRUSTEES. REMUNERATION AND EXPENSES No remuneration was paid to any of the Trustee5 no¥ are any expenses reimbursed to them for ttrteir services to the Trust dvrin8 the year12024- Nill. ii. RELATED PARTY TRANSACTIONS There were no related party transactions durin8 the year12024-Nill ANALYSIS OF NET ASSETS 8ETWEEN FUNDS Tangible fixed assets Net tvrrent assets Investment5 Total Restricted Funds Isee note 91 Unrestricted Funds 9,578 174,202 3,000 27.715 12.578 207,675 5,758 5,758 183,780 30.715 220.253 13 l(4)£8591vl
INDEPENOENT EXAMINEWS REPORT TO THE TrUSTEES OF GODALMING MUSEUM TRUST I report on the accounts ol the Charity for the year ended 31 March 2025 which are set out on pages 5 to 13. Respe¢tl¥e responslbllllSes of Trustees and Examiner The charity's Trustees consider that an audit is not required fof this year Under section 144121 of the Charities Att 2011 Ithe 2011 Act) 3nd that an independent examination is needed. Having satisfied myself that the charity is not subject to audit under company law and is eligible for independent examination it Is my iesponsibility to.. examine the aceounts under section 145 of the 2011 Act.. follow the procedures laid down in the general Directlons Éiven by the Charity ComThlssioner under section 14515llbl of the 2011 Act.. and slate whether particular matters have come lo my attention. sis of independeirt examlner's report My examination was c3rried out in accoTdèTrce wsth the gÈneral Direclion5 given by the charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those rècords. It also includes consideration of any unusual item5 or disclosures in the accounts. ènd the seeking of explanation5 from yov as trustees concerning any such matters. The procedures undertaken do not provide all the evidence thèt would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair viev/' and the report is limited to those matters set out in the statement below. Independent examiner's statement I have completed my examination. I confirm that no matters h3ve corne to my attentlon in conne£tion with the exarTTrlllation giving me cause to believe that In any material respect.. accounting records were not kept in fespect ol the Company as Tequtred by section 386 of the 2006 Act., Of the accounts do not accord with those records., or the accounts do not ctsmply with the accounting requirements of section 396 of the 2006 Act other than any Tequirement that the account5 give a 'rrue and fair vteW which is not a matter con5ideTed as part ol any independent exarnination; or the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by tharities applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS1021. I have no concerns and have come across no other mèties in connertion with the examination to which attenlion should be drawn in this report in order to enable a proper understanding of the accounts to be reached. P J Osborne FCA 7 Oaks Lane Bookham Surrey KT23 3FD Date..... 14 16(>58591vl