Registered numbor.. 1948578 Charity number: 292758 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A ¢ompany limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA¢ompany limited by guarantee) CONTENTS Page Rofèfynce and administrative detai]$ of the Company. its Trustee5 and advisers Chaiman's statemont Trustees. report Trustees. responsibilities $laternenl Independent auditorfs report on the financial statements Consolidated s￿ement of financial a¢tivrties Consolidated balance sheet Company balance sheet Consolldated statement of cash Ilows Notes to the financial statwnents 10 15 16 17 18 19-42 EUREKW THE NATIONAL CHILDREN'S MUSEUM IA company lirnited by guaranteel REFERENCE AND ADMINISTRATIVE DET￿Ls OF THE COMPANY, IT5 TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2023 Tru$t8e5 Mr A J Aubrey Mrs J T Craven Ires*Jr*d 17 March 20231 Ms F J He￿Id￿ Ireswn8d 8 Decemi¥ 20231 Mrs A M H)pe I￿$￿Jr￿d 23 February20241 Mrs L A Str&Jeski Ms J RK&Bowen Mrs S J HKJJins( MrsKELWard Mr J T Suldrfle MrJHKdly MtsFMBest MrSKAA2iZ Mrs S Shartr Company registered nUM￿r 1948578 Charity registered number 292758 Registered off￿e Discov*y Ro•Y Halifax West Yorkshire HX12NE Company secretary MrA Fwbes Chielex¢eutive officer Mrs L A Strade>ki Independent auditor kn5trorKJ watsC￿ Audit Limiled Chartered AcC￿nIants aNJ StatulwAuditors Third Fk(Jr 10 South Parade West Yukshi LS15QS Bankers Bardays Bank PLC 10 Market Street Bradford Wesl Ycwkshi BDI 1EG Solicitors WrvJleys LLP 19 Cookrkyge Streel Leed$ West YIMtshire LS2 3AG Page 1 EUREKA! ThE NATIONAL CHILDREN'S MUSEUM IA compariy limited by 9uaranteel cH￿RMAN's STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2023 The chair presents Ihwr staternent for the year. If 2022 was a yw of celebratil￿ as we launched Eurekal Suence and D¢5covery IESDI and marted our 30th year of Eureka! The Natsoftal Chikyren s Museurn IECMI Tll Halifax. then 2023 was a year of consolKlation when we got to grps with what rt Is to be a sw3nif&8nUy expanded organisat￿n operatitvJ across multiple &tes. It kvas an intense and challenging year for oui growry staff tearn as they worked inCr￿j1b1Y hard in testing orcuMsta￿eS to ensure Ihal realdy ofour diearns was $ustsinable in every way. The ambrth)n for Euokat io a new srte Iw heky, lh8 Origin￿ plans that we devised for Eurekal scien￿ + Discovery were coA￿ved of in a b.me betse Brexit." COVID.. war in Ukraine." th8 energy c￿$1$. fapid rises in inftation and Ihe subs4LEnt impact oll the (x)st of liwtyj. Opening a new visitof atLraction in this contexl has not been easy to say the leasL At b.mes %4E have fdt a sti￿ of dFsappointment that visitcK numbets have not yet reached Ihe lofty predicti(￿$ that we set all It￿ years ago. These external factcKs also had an impxl on our exstsf¥J rrf)era1ic￿ in Halrfax. putting pressure on both vBrtor numtrErs and sec￿ry ynd. However. three de¢*Jes of experiertt swng thildren and their families I West Yorkshire and bey(￿ enab￿d us lo hc4d our nerve arn1 remember thai our prÈmary objective to Increase child aWa￿lleSs, curiosty. undefstarLdir¥J and ery)yThent of the worfd in which we lsve is surely ev8r rnore vrtal in these unTrrtain b"mes. In Ihts regard have made a W irnpact and in aJ23 wele£JmgJ over 365.(M)O p80ple to play across botN of OUF Eurekal sites. VTSitor feedback is overwhelmiThJty positive and as a trustee it is a￿lay$ inspiring to ￿¥d user review5 in the re￿)rtS provKled by our Senior Tearn, nothirvJ gives you a greater understanding of the importance of our [ts￿ than seeing Eu￿kar Ihrough the eyes of a ￿ng visitor for whorn the experier)ce is spe¢ifically designed Now that my own chiK1reft afe allegedlylw old- for Eweka! they have comrnissioned their five-year-old cousin to be their exojse for Vi&lrng. Tr wondw and py that Sp￿ad across hey face as she enier8d The Burrow. our ctpative play space for under 7s. at ESD for the first time was infectious. She encouraged her etTiourage of &(x)tnpanwng adults to put down our bags and coats and to play. This was a mple b(rt libèrating act that was inevilatrty shared in snapstr￿{ forni on our family WhalsApp group. Mor8 importanuy though, as we bJilt towers of bricks. chased d￿1131 fjsh and waiched our own colobrfLsI butteffly whiu down a slide. we coltaborated." we sofved prob￿rns.. we cetnented ¢onn8Ctions anij made memor*e5. This is the radical power of play thal Eurekal harnesses and shafes vath children. families and schools every day. At Eutekal we are seriws ab)ut play and bdieve in tts fundamental irnportance. As trustees we know that il we are to preserve this as a rKJhl lor fulure generatitw we musl also be seritsus about risk 3nd strategy. Working closely with Ihe Chief Execubve and the Senior Leadership Team. the trustees have focused, rightly, this year on understsndkng why rwr finanual perforniw falkn shyt of lar9ets and have knked again at o*Jr business moyjel. E￿￿ka1 15 a rafty in the UKS charilable ojldjral sector as we are enti￿lY sdf-funding and do not ￿lY on any regular subsioy fTW S￿￿tary $￿jrces or contHbuied In￿)me from trusts ￿ foundatKJns lo deliver our charitable objecltves. In rn8ny way5 this ha$ iEen an enVIa￿e posib.on bJt during 2023 we began to exP￿re the potential value in (Jevelopt￿ a fur¥Jraisiro strategy that ￿)U￿1 ￿able us Its broaden WF regular in￿rne base, a measure that may spread risk aw¥J reduce our exp¥)5Ufe lo unpr8d¢aatAe econom￿ events SL4ch as the cost-of- IDiing crisi5. This I￿rk. sup￿rted by fundraising consultants Cause 4. dovetaib wth our 2024-2026 Strategic Framework, the fo(yJs of whKth ￿ ￿)¥o￿J." firstly, estaNishing ESD as a 8uGTrssfvl and sustainable visitor aiiraction and se¢DrKIty resoknng the tssues Ihe heritage buikjings on our Halrfax site. As 8 Board of Trustees. we are clear that it ts ￿lY bvhert both of these objectives a￿ met that we Can realisli¢ally begin io pursue furtt)er growth and expansion of our offer. We have contiTrued to develop our approach 10 governance. keen to ensure that our 8oard operates in line with the Charity Governan￿ Code. As well as ens￿r￿ that a￿ cornplk8nt with law and rdevant regulations we have worked hard thi% lo foregn)uThJ strategic thinkw in ￿Jr meeiings %%*ich focuses us squarely on achieving Eurekal's vis*)n the fulure. Our 2022 cohort of tyuste8s a￿ n(w hjlly embedded vthn Organisat￿n and using Iheir Skllls to 5UPPOrt the Senior TearTT in a variety of wayE. We are grateful for their enthusiasm. commitment and wse counsel. This has ma¢Ye it traS￿r for our rrore Wstandifi9 trustees to ￿ts"￿ as part of an agreed succession plan. We said farewell lo Fiona Hesselden ai the eThY of Oe¢eTvber 2Q23 after fourteeft years of service during which time she Page 2 EUREKAI THE NATTONAL CHILDRENE MUSEUM IA company limbted by guarantsel CHAIRMAN'S STATEMENT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2Q23 was Chair of our Heath & Safety arky HR Cc¥nrn￿rtee as a5 our Safgguardry Lead aThJ worked diligenuy lo ensure the safety of o(rr users ￿ staff. In FetKuary 2024, Ajison Hope stood down after fifteen years ￿￿th Eurek81 Alison was a much resw¢ted Chair of the FIna￿e & GerEral Purp)5es Committee and then took on th8 role of Interim Chair duriro the patVjem￿ wbw) h8r and steadfast fX)mmitsnent io Eurekal'5 vI￿n gave 51r8ngth to all of those who *rJrted tw. We pbn lo rtcruii a new cohort of trust￿ in 2024 to enswe Ilwt the skills that we have lost through recent r8ts'remeftts are replenished. When pewe walk thrc￿h the (knrs of ore of our visrtcy attwtlts￿ tw a￿ met by wami. attentive and kno￿e{I9eab1e staff who Make evertryme feel wdo)me and induded. They a￿ the embodifnent of the ¢ygan15ation's culbJre, a ¢ullure thal has L*8n c￿fU￿ L¥eated by our Ch*f Exe￿tive. Leigh-Anne Stracleski and her Senior Leadership T8am. GW￿n. Liz Penisthn. m￿he￿e Ernerson. Andy Forbes and Andy Grirn5haw whose kr￿￿ge unthrstanding of Children's Museums is peerfess in the UK. l thank Ihern not ju$1 for th￿r experb.se and dedKatK)n bui also fLY tr*ir goo¥J humwr and ￿th"n9ness to go above and beyond. It has again been a gr88t prwilege lo act Chair t￿"5 year aThJ to with the trustees. staff, funders and stakeholders to provxle (Kjr Visit￿$ vfilh Ihe (ppor￿nty to play, the Im￿)rtanCe ol must nev8f be ¢mderestimated. Jane RKe-8owen Chair of Trusiees Page 3 EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IA company Ilmited by guarantee) TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2023 tnthes present their reK*xt ts the ypar statements for the ￿ar erKJèd 31 Decembèr 2023. STRUCTURE, GOVERNANCE AND IAANAGEMENT GOVERNING DOCUMENT: Eurekal The NatK)nal C￿.￿jren.s Museum s a cC¥np￿Y limited by guarantee govemed by its Memorandum and Arircles of A&%ouation dat£d 18 December 1985. h is registered as a chawity with the Charity Commissknn. PPOINTMENT OF TRUSTEES Trustees are appointed by the rn8mbets ai the Amual Gereral Meeting of the charty. after nomination by one metnber, as required by the d￿ri￿S ￿tiCleS of Assttiakn. The Board has wwer, at b"rne, to appoint any person to be a mernber of Ihe BO&￿ ￿ fin a ca5Lbal vacancy or as an &*Jition lo the existing members of the Board. Trustee5 are ￿u￿£d to rebre by rotsts"￿ on an annual basis. TRUSTEES INDUCTION AhlD TRAJNING Utx)n appoinlmenl Eurekal tr￿lee$ a￿ gwen an iThJUCtiL￿ pack whth consists of the chanty's Mernoranclurn and ArtiC￿S of Assock3tk)n. the bugness &4an, the ￿teSt Statutory acwunts. and other ￿levant strategic arNJ operatronal d(tuments. Through a rneetiThJ Ihe Cth￿1 Executive at)d other senior staff. tnjstees are briefed on their responsibilities and obloat￿S 8$ trustees. promded ¥￿th appropriate Chanty C(xnmissv)n documents and referred lo Ihe website for further inf(ma￿. RekvanE informab.on and training opportunrties aye roulinety circulaied and tntstees are encouraged ￿ ensure their kno￿¢ 15 kept up lo date. tharrtable Law or wuirernents are aklressed at Iru5tee me8bry$. Key alterations to ORGANISATrON The Board of Trustees adtnints¢efS the thanty. The 8oard meets quartedy and sutKomrnittees covering finan￿. human ￿SOUrceS and heath and safety meet r&Jutarly. A Ch￿f Exeurtive is apwinted by the truste8S to prowde strategt¢ leadership and manage the chafws day-ifrday operalKJns. RELATED PARTIES The charity has a substhlwy. 1855 SlatNJn BL4hYThJ Lirnited, whith property in Ihe 1855 Station Buildir#J at Eurekal The Na150nal Chrtlren's Museum in Haktax, a￿1 (4)erates Ihe cafes. shops and car park5 across both Eurekal attractions in Halifax and Wirral. 08JECTIVES AND ACTMTIES The chatrtls otlects are to FYomc4e. mantsin * athfance eduCa￿On by the promoiion, establishment Maintenar￿e of a museum. Of rnuseums. fcf children. ti opÈrales chi&lrÈn's museums proV￿1n9 Interactive educati¢)nal exhibrts and wcsrarnmed I￿1￿)p5 desfjned io in¢￿aSe Chi￿ awaren85s, cunc6ity, under51andiNvJ and enjoyment of the workl in which we INe. The Trustees C(￿[￿ that Ihey have referred lo the guidance c￿laIned in ts Chartty Commission's ger￿ra1 guIdar￿£ on publ￿ benefit when revipwng the ¢hathYs aims and obl￿tIveS arn1 in planning fvture activthe$. Page 4 EUREKAf THE NAnoNAL CHILDREN'S MUSEUM IA company limited by 9uaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 STRATEGIC REPORT ACHIEVEMENTS. PERFORMANCE AND FUTURE pL￿4s Strategic P￿all*le5 Each ￿al, the strat8gic framthvort Eurekal is rem&5￿1. stratwc pr•)ril*s are agreed, and (x)rporate obieetives are set. 2023 was an excibry ch￿￿Jing year as ￿ embarked on (¥Jr joumey operating as a Iwo-site entity. The primary fr￿JS [£￿ the w was ￿ makry lhis transition smcthty across all areas of management. staffing and Operati￿S. mantain1r￿ our success at Eurekal The National Children's Museutn IECMI in Hal*fax arKJ beginniry the proces5 of estsblishing Eureka! scien￿ + Discovery IESDI in Wirral as a successful aThY integral part of our Eurekat group, serving the cornrnunty. Liver[￿1 City Region and gre818r Northwest area of the c(NJnlry. The deky in openirNJ fully at EuTekal ￿fiCe + Dxscovery due to water ingress issues with the Terminal Building meant thal ￿r Under 75 area and café did r¥)t open unbl June 2023. This affe¢ted our abdity to implement some of the p4ans and pro3ramn* we had Tr)tend*l, and had an impact on Visitor nurnbers arKI inrA)me. and u￿ma1￿Y Outc￿ne in 2023. Key Highllghts of 2023 At ESD. the fLw Yras on ¢*lNering an wtstaFKfFrMJ visitLY 8XFerle￿Ce. buikJitNJ our Profi￿ and planning for Ihe growth and stabilisaboft of wsbtor number5 through a range of public progratnming. markets'ng and partnershipl)ased approac+￿. Thi8 has sh(r￿n t￿[nIs1ng results in a slow bErt steady growth of vistor nurnbers in public holw thrcwgh the summer and half_ternns of lale 2023 and early 2024 At ECM. a renew￿1 focus Early YeaFS pryammè res￿ in the introluclK)n of a raryJa of new programmes and inthatives a revamF*d Creatiwty Spa￿. crèatwe gallery-b¥s*J expenenc*$ and the Little Exp&)rers ptograrnrne whth has rMw4 been intrcnlucwj at ESD a5 well. $0 at ECM. Ecost￿t was c(Thplet8d wened earty in in 2024 *ith supp(wt frcffi thg Cumrnins Foundation and the Hedley FoJndats"(x) Our continued emphas* on reachit¥J harder to reach au¢J"ences IF￿￿￿e(l lh8 fojlowng". ' The kunch of"Relaxed SEN¢ty- at both srtes fy dLsabled vi8itus and their families ° Campa4ns for heavrfy discounted or tsee entry targeted to draw audiencè5 frc disadvantaged rx)mmunrt*s to ESD ° Our 3(Mh annNerwy ts"(*et gNeaway en*ed vists kn ECM by 15k fam$l￿S and groups most ￿ need. induding a$￿uM seekers. f(M>lbank (xkstcxners. and those receivi additional SUPFKJrt frorn Icrèl agencies ° ECM wa5 dosed Io Ihe pubk for Tak￿er Days. . one by The A World. an NPO whth supwrts the aub.stic commurNty, rx)e for East LarKashire Swjts." on these days each group had excbjsive use of Eurekat fcy th*f eV￿t Horne Educator days at ￿th sites For the fi￿1 tsme ever. a ts￿week ckssuie was L￿￿ertaken at both sites in the first two weeks of Septernber to tie up some Iw5e ends rdated lo exhibitK)ns and servi￿$ ai ESD and to do some of Ihe e55ential but more dispjpb.ve ar¥J time intensive upjrades. mainlenanL¥ and repair works at ECM. As part of this. all new fjLW)rir￿ w05 instalkd I￿ the publ¢ areas at ECM and the ststion steps wh ovide access to our site tr￿n the Halrfax Stats)n tifidge were re￿a￿l. This ts¥frweek pefio1 of dosure wa5 also used f(x essential training deveknpfflent of our staff in aws including health and safety. fir* aMI. safeguarding. accessibility and indugon. intEf5ive training program across a S￿-Month perirxy for our midd18 management team was also undertaken in 2023 arvj we have seen Ihe ￿￿rI(S of th￿ coming thr¢MJgh in ernployment pracbce and teamwork. A teaM.￿Ilding day for evewe vés he￿ wl*h enabled 51aff who ar8 geogratA)icalty separate kn come together. get to krx)w each othw and share practice and ideas. We were delighted lo be of a handful of cefit￿ of ex￿knce for early ￿8£$ play and ￿aMIng sewed to featu￿ tn a intematK)nal fikn on the IMPJrtan￿ of play to children's learning aftd Page S EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IA cornpany limtted by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 develwnenL This inthatNe is slill in deVek)prnent￿ slages. but are very m￿h fon¥ard to seeing the finished prLMj￿t at some wnt in 2ty26. We were sdected atKJ ann￿nce(l as the 2025 hosts of Ihe tx-annual Conferen￿ of Hands-onl Internati￿al, Ihe associatw)n dedicated to profeSS￿￿alS w(Kking in Ihe fields of ¢hiPJren's museurns and iklren's proms1(￿ in tradits"￿al mus*Jrn$ arKJ gallerEs. The conlerence will be hekj in November 2025 th ESD in Wirral akng&de LiverpD)l as Ihe host cty, ￿7th an ex¢ursiJn to ECM arml H8lrfax 8 hvJhlKJht of the conferefKe. This wll draw up lo dekgates and ￿anning is wdl under way. In addition to the highlwjhts of 2023. some key chalk￿eS arose drNen prirnarily by the extemal (x)ntext. The aftenmath of CovK119 has had a kyotracled effect on the ¥￿tt￿ altractic￿. hL%StMtsIty and leisure secltsr. affecling both our ability to recruit and retain ¢we staff and VLgtor betrwvh)ur. The ry)st-of-living crisis affected familos gnrficantly during 2023 when they were faced drffJ¢utt tlecisions about how and where to sperKI their money. At th8 same trme, rxjr overheads at Eurekal have beeft rising to escaLgting energy costs and the requtrern8nt lo inuease wages in kne wilh ln11atr￿. Cafes at both of our sles. txjt parti(JJtarly at ESD presented a ChaI￿nge and ac￿￿e￿ng o)nsistent profit margins. which ar8 ifttegral to sustainitYJ our sew-funded business mthl was rKJt a¢hievatAe. We dpvek)ped a number of plans and measures to M￿￿ale ihis. and we are seeirvJ improvernents in the earty part of 2024. and we ar8 confident this will continue in the cxynif¥J montr6 in spit8 of a en￿r0nrnent. FINANCtAL REVIEel SUMMARY 2023 Saw our first full year of trading acmss attrxiions, Eurekal The NalK)nal Chiklren's Museum IECMI in Halifax and Eu￿￿31 SC￿n￿ * Discovery IESDI on the Wirral. ECM ￿lcOMed 262,906 acr05S the year. a f￿1 of 3% on the previws year wA)ile ESD saw 102,806 visrtors in its first full year of owNNJ. Overall ir￿orne for the year was E5,352.688 a de¢rea5e from £7.852,854 in 2022. This fall 15 primarily as a result of th8 grant ￿¢&￿ts assocoted th8 ne* attraction cm)ir¥J to an end in earty 2023. The nel rnovernent in funds for the year feti to a defol of £1.042.955 in 2023. frL¥f a surplus of £4,177.251 in 2022. Wiihin this. ￿$tricted funds lell by £732.693 Whi￿ unrestrKied funds fell by £310,262. INCOME AND EXPENDtTURE In￿me for Ihe year was £5.352.688 12022.. £7.852.8541 i[￿A￿l￿g UTrrestr￿ed ￿¢(Me of £2,749.796 fmm charitabk actiwties. £1.747.282 from trad¢ThJ ac¢iwiies and £559.467 frorn gtfts and donatsons. Restricted I[￿oMe of £211,632 wras reeeNed from grants ¢*)nations. 811 reknJ to ESD, and any funds remainifig at the y8ar end wll be spent in fu￿￿ ￿ars. Trading a¢*w￿5. after intercompany fecharge5. generated a 5uWu5 of £139.622 and thg tr*Jing sub5i(liary wll. the￿fore. make a paymeftt under grft aid to Ihe charity in 2023. The chanty rewed a further £373,473 by way of rental and mBnagement char9es from the tradiry subsKYiary12021". £276.3031. Charitatle eXpendrtu￿ to £5,263,54712022". £3.162.2111 a5 a rasLdl of n￿nIThJ tM)th attrdctions knrtsjghout Ihe >ear. Page 6 EUREKKf THE NAnONAL CHILDREN'S MUSEUM IA company limited by 9uaranieel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 FI￿VRE PLANS In 2023, a Growm Strategy and Strategic Framewrjrk 2024 10 2026 vas devd(wJ. This builds on the B08rd Strategy Day hekj al the end of 2022 lvhth wjentikd the requirement to bok ¢0 the future now that Ihe major strategic la￿at￿e to deveknp aThJ lauvKh Ev￿al + Dtscovery had been achI￿ed. The Grobvth Strategy arti￿￿aleS a Ihree-stage approach to the future gro￿ arvj development of Eurekal The primary driver5 for grthvth that unde￿n aprKoa¢h are'.- Increasing aud￿Ce line thariws SLKyal p(KF¢)5e Buik1ing finar￿la1 ￿l&ence StrengthenirrtJ brand and rerKJta Tf* three-stsge aP￿￿h is".- 1- COMMUNITY OUTREACH Anchored in existirg venues,. deggned to broaden reach arKJ dri¥e new f(¥)tfaU into these venues. maximising swal imp8Ct in each k￿lty 2- SATELLITE GALLERIES H05ted bycuttural partners within the Lyoad catchmant a￿a of eX￿ttng venu2s.' des•Jned to Strengthen the Eureka! braThJ amor*J new aLKlIen￿ and encourage folknw-on wi￿ts 3- NEW, STAND-ALONE EUREKKS VENUES Servin9 new a￿a¥ of Ihe UK, extetmjiry the dtsirnthe Eurekal experien¢e to audiences and ￿ntinUIr0 lo buikl brand and recojnthn. A subsequent rtsse ofdevek)prnent for thestr vgnues 11 see each in tum Serve as an anthr fty tEW ¢4￿mUnIty oulreach and saiellile galleries. The strateg￿ Frarnework 2024 to 2026 artKyJlates four key Strateg￿ pnoribes:_ Outstsnding ￿aYful l¢arnin9 experiew for childr￿, ￿n9 people and famil*s Diversty and inclusion across our alklier￿ and %4rJrk learn Strategic and stsstsInab￿ approach io futu￿ devek)weni and 9rowth Bustness mLvJel supp)rts c#Jrreftt yratKJB ￿anS UnderlwNJ this strategy a￿ integral area5 Ihat will be a key foojs for Ihe t¥Jard and senwar team to delNer in this time p8ftod:_ Eslablish ESD as a suc¢ess(ul and SLtslainat4e vBitor attraction through gro1￿ of vi&tor nurnbers and inC￿e Resolve the ongoing issues wlh the bJFkJiryJs and other elernents that are part of the ECM leasehold thrwh a prLWS ol ￿tUrn1r0 Ihem to CakJe1da￿ Metrowitsn Borough Council A comprehensive ￿ary ha5 teen PLrt first of thes? with a nurnber of strategies. including an ernphasis on buiiling our au¢lience of fitsi-time pawng vi&tors and enhanung schod group attendance an(J other weekday ierm-tirne visitors. We wfil cOnt￿Ue to make improvemenis to the vtsitor experience including teading on the initiative lo improve the ar¥i¥al experien￿ of tyjr ViSLlors and olher users of the site through hard and 50ft landscaping improvements to the front of the Terminal aThJ Eur8kal main buikling. This is being funded by the Town De31 grani programme. ahn9 se¥eral Lther projeds to support regenerati￿ of the B1[ken￿ad and the East Wirral WdterfronL We a￿ underway wilh the ￿8Th to resofve our Sile Bsues at ECM and a￿ taksro kgal and property advi￿ to better defrne our approach and next steps. Res￿￿ng this is essents'al to Eurek81's longer term pLannin9 an developrnent of the V￿lior at$racti￿ and tyJidcx)r play space tine %rfi (wJriy•Yn aspirations and tharitabte remrt. Pa9e T EUREKAI THE NATIONAL CHILDREN'S MUSEUM {A company lirnited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2023 One other ar88 fty f￿uS over the twO-￿ar per*yY wll be Ihe development and imptementation of a strategic approach to fundraiwrvJ b suprx)rt core costs. rew aUd￿e devek)pmenl aThJ projects to SUPPDrt our charitable remil. Work Oe9an on this wth tx)ard 5essM)ns bein9 hekj ta￿ in 2024 and Ihe strategy wall be finalised by the end of the year. Orte Implemen￿. rt is ho￿ this become imFfJrtant element of our business mottel going fowd¥d. PRJNCIPAL RISKS AND UNCERTAINTIES Eurekal adopt5 the pri]xiples ol risk managemenl iwt order to protect ts heatth, safety and %%tIfa￿ of its empknyees and ts visitL)r5, to protect assets and othw rescxjrces and to mwnlain its reputst￿n and good standirKJ. The Board of TrLLStees reviews the Maj￿ ri5k5 lo the charity is éxposed cffj an annual basis, parb"cularty those rekt8d lo operation5 and finarK8. The trustees have giv6Ys ¢(￿￿ler￿v)n to the appropriate poIr￿. prtKedures ar4(1 systems to mrtigate Ihe exwjsure lo the ffla1￿ risks and a risk register exists, which 15 gularly reviewwj. The key risks ldentrf￿ within Ihe regisier a¥e". the rising coEt of Iwing ar￿ operating ￿$ts arKJ FKJtential impact on ¥￿ttOr numbers, the health and salety ol visrtors and staff, bu￿e Ihat Ij￿re is a ma*fial missratement of this 0th8r infomiation. ￿ are reqUi￿d to rewrt that fact. We have nolhing b retmyt th this regard. Opinion on other matters prescribed by the Companies kt 2006 In wr opinK)n. based on the uThJert*en in the wrse ofthe audit the ￿fOrnia11(￿ gNen in the Trustees. rerAyi including the Group Strategic fep(xt for the financial year for vthich the financial Statements are ryepared 15 ¢(￿lstent V￿1h the financial staiem8nts. the Trustees. report and the G￿uP Slralegc rerth l%tyve been prepared in accLYdar￿e with appI￿able legal reQ￿rernents. Matter5 on which we are required to r•port by exception In the light of our kr￿￿edge and ￿mIerStand￿l9 of Group and Ihe charilabè company and its environment btained in the course of the audtt. we have Trjt idents"f*d material misstatem8nts in Ihe Trustees, ￿port including the Group Straiegic report. W8 have Th)thing to rewi in of ts fo￿)￿￿ matters in rekb.on to *t¥ch Companies Act 2006 requires us to report lo rf, in our LynKx7". parent cforitable c(xns)3ny has not kept adwuate and sufficiefit aco)untin9 records, or ￿umS adequale for our audit have Trx beert recaved from tKand)e5 r￿ by us". the parent charitable rA)mpany firta￿al stAtements are not in agreement ￿th the a￿x￿)tI￿ records and tums." or certain discbsur8s of Tru5tees' remurwatrm by W are Th)t mth,. CY we hav8 retsived all the infornithn arnl explanations requKe for tyjr audit. Page 12 EUREK￿1 TrIE NATIONAL CHILDREN'S MUSEUM {A company limited by guarantee) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EUREK￿1 THE NATiONAL CHILDREN'S MUSEUM ICONTINUEDI Responslbllittes ot trustees As explained rn(Ye futy in Ihe Tru5tees' reS[A￿1)i￿ stslement on rwJe 10. ￿ Trustèès Ivtho are also the directors of the chantable Ly)mpany fcK the purrw)ses tsf ¢c￿panY kw) are re¥*)nsitk for the preparation of the rinancial statefflents arKI for bein9 satsfied thal they give a true and Fair view. and fw ￿th inte¢nal control as the Trustees determine is ne￿$sary to enatAe the yeparatk)n of fina￿￿41 staternents Ihal are fr88 from maierial m45slatemenl. vthelher ¢kn to frwd or 8rr¢x. In preparing Ihe financial statements. Ihe Tru5te8s are resrK)nsible for assessing the Group's and the parent Charitable companls ability lo (￿b"nue a¥ a £￿￿rn, discb*wJ. as appltsble. rnatters related to going concem and using the going ccrtern basis of aco)unb"ng the TDtsStees ￿ther tntend io Ik]uidaie the Group or the parent charilable company or to ￿ase operakns. or have no realistic altematsve but to {*) so. Auditorfs responsibilities for the audii of the financial statem Our objectwes a￿ to obtaifi reasonab￿ assur3￿ abLXJt lbthether the finanual statements as a whole are free from rpalenal mi5Statern8nt. whets due to fraud or errN, and to ISSUE an Audrtorfs rewri th8t indudes our opinlon. Reasonable assurance is a high *1 of assuran￿. not a guarantee that an audrt CL)nducled in cordance wth ISAS IUKI will ahvays detect a matwrdl rni5Statemenl when it exists. Misstatements can a¥i5e from fraud or error and are conshjered Fnaterial Éf. indNidually or in the aggregate. Ihey (x)uld reasonably tse expected to influence the e¢(￿orn￿ deckwons of wrs tak￿ on the ￿"5 of these financkql statemeots. Irregularit18s, including fraud. are instances of ntjwpr*n￿ wilh laws and wulation$. We design procedur8S in lin8 with our responsibil￿ES. ouUin&l atthe. to deted m*errdl m￿statements in ￿pect tsf irregularities. inclL¥Jing tra￿. Th8 exi•rt to ¢JJr wcc*dures are capable of detectirwJ irregularities. Includi*￿ fraud is detailed bek)w". Our approach to Klentifyng and asse￿￿ the ri8k5 of materBI misstatem￿1 in re5F*Ct of irregularities. ¥n¢luding fraud and non cornplkgnce wilh L¥•ts and regulatms. as frAkn¥s." . the engagement partner ensured thal the engagemeni tearn collethvely had the appropriate competenc8. capabilities and ski115 to Kjentify or rec(8nise tK)n Com[4￿nce appI￿a￿e la%%s and regulations.. we KlenD"fied Ihe laws and regublKX)5 appfKable io Ihe Group and parent char(t8ble company through dis¢ussions wrth tru51ees, and Olher fflanagement and ofapprowi418 industry kno￿￿edge." . we assessed the extent of cc¥nF4k4nce the and regulat*Jns tikntffied above thrwh making enquiries of manag8ment" arK1 . "dentffied tws and regulatiotss we c(hmrnunicated %%ilhin atKlfl t￿1 regularly the team Temained alert to instsriGe5 of rK)n complianc& thr(uglK)ut the audiL We assessed the suswitib.lty of Ihe Gr¢xJp a￿* the par&* charitabl8 (x)rnpany financi81 statements to rn8terial mi5Statement, inckjthng obtaining an understandi*vJ of lThf fraud mght occur. by.. ' making erNuiries of managemeni as to where ty ¢onsI￿￿ tr*r8 was su$￿pts￿l1ity to Iraud, th8ir knowWe of ￿tual. $u5pected and al*ed fraud". and . con$Klerir¥J the ￿ternal ccfitrols in i*e to mtyie risks offra4KJ and nr￿ r&Jm￿lanee ￿th laws and regulat￿n$. Page 13 EVREKAI THE NATIONAL CHILDREN'S MUSEUM IAGornpany limited by guarantee? INDEPENDENT AUDITOR'S REPORT TO THE MEM8ERS OF EUREKA! THE NATIONAL CHILDREN'S MUSEUM ICONTINUEDI Audltorf$ responsitJilities for the audit of the finan¢ial statements Icontinuedl Tts address risk rA fratvj thrcwh manwi•rt bias ar¥J ov8fTKle of (xmtrols. **'. ' Pgrformed aTraMic￿ as a risk a&%essmenl tcKJl lo wjentify any unusual or unexpected rekts.C￿ShIPs' test￿1 journ81 entries to thntify unusual transactic￿$.. . Assessed whetheT judgements assumpt￿￿ made ift detemiintyj the accwntiThJ estimates set out in Note 2.18 were indicatNe of potenlid bos. In reS￿nse to the risk of irrè3ulaJthes aNJ coMpl￿nce wth aftd re9ubts)ns. we designed proc8dures which ir￿Uded. but were not limitwj to.. ' agree4w finanoal staiemeni disCh)su￿$ to UndwI￿Tra SUprth.￿ ￿L￿uments￿"(ffj". and ' enqu￿￿ of rnanagem&M as to acth81 aThJ poteniial titigab￿ aTrJ ¢Ja￿￿$. Due to the inhereni lirnitations of an a￿lIt. th8re is an I￿}￿dab￿ r6k that we may not have detected some materi81 misstatements in the finanaal ststements. even thuoh we have prO￿ty ￿anned and performed our audit in accordance wth auditing stan¢Jards. Frgery, intentional omi5su)ns, rnisrepresentstions, or the override of Internal controls. We are reS[￿nsible for preyenling fraijd or non compliance with laws and reguLalions and GgnAo¢ t* exp8c18d io detect all fra￿j rKJn comK4once with bws and fegulatso￿. A further descripbon of wr reS￿InSi￿*￿es for the audit of the finantral statements is IoLXted on the Financial Rèporting Council's website at.- w￿.frC.0r .￿audit(￿ sbilit*s. This descripiion forrns part of our Use our report This report is made soletyto ￿ Charitab￿ companys members. as a iKMJy. in ￿)rdance th Chapter 3 of Part 16 of Ihe Compa￿leS Act 2006 Our aL¥Jit th has been urxjèrtaken so that we mighl state to the charitable companvs metnt*rs those mattws ￿ are reqthred lo stale lo thern in an AudTtoVs report and for no other purFose. To the fullest extent pemiitted by law. we noi at￿p1 ￿ &%sume ￿$[m)nSIbIlIty to anyone other than the charitable company and its membets. as a b￿. for our audrt w)rk, for thss report, OT for the opinions we have fcKmed. Karen Rae Isenior statutory audllor) lor a￿d on behalf of Armstrong Watson Audit Limited Chartered A¢couAtants and Slatutory A￿￿1 Page 14 EUREK&I THE NATIONAL CHILDREN'S MUSEUM IA company limrtwl by guaranteel CONSOLIDATED STATEMENT OF FINANCIAL ACTMTIES {INCORPOIiAfNG INCOME AND EXPENDITURE ￿CoUNT) FOR THE YEAR ENDED 31 DECEMBER 2023 Restricted Unrestricted funds funds 2023 2023 Total funds 2023 Total fvnds 2022 Note Income from". Donats"ons ènd legaci Charits￿e activities Income frorn other tradiro a￿1￿lIes.. C(¥￿rner￿1 trading actbvil￿s Inveslrnents Olher incomq 211.632 559,467 2,749,796 TT1.099 2,749,796 4,429,6f4 2.018.594 1,747.282 84,511 1.747,282 84.511 1,272,728 26,633 105,285 Total in¢c•me Expenditure on: Commercial Iradiry activtiies Charrtable actnithes 211.632 5.141.056 5.352.688 1,652.854 1.234.188 4.319,222 1.234.1B 5.263.547 705.316 3.162,211 944,325 TO￿ expenditure 914.325 &S53A10 6.497,735 3.867.527 Net l¢xpendbtureVln¢ome before taxati*)n r131693) {4113541 11.145.04n 3.985,327 Taxation- Kluseum & Gal ExhibilKJns Tax ￿lEf 102.092 102.092 191,924 Net movement in fvnds 1732.6931 1310.2621 11.042.955) 4.777.251 Reconciliation L)f fvnd5'. Totsl fun(ts brought forward Net rnovernent in funds 12.958.295 17316931 4.583,805 {310.2621 17.M2,100 {1.042,9551 13.364,849 4. 177.?51 Total funds carried fonward 12.225.602 4.273.543 16A99.145 17,542, 100 The Consdklated stat8ment of fmancial adiwlies irKJud85 all gains and ké8es recogni5ed in thè year. The notes on pages 19 to 42 form part oflhese finanual Slatements. Page 15 EUREK￿4 THE NATIONAL CHILDREN'S MUSEUM IA cofflpany limited by guaranteel REGISTERED NUMBER.. 1948578 CONSOLIDATED BALANCE SHE AS AT 31 DECEMBER 2023 2023 2022 Fixed assets T8ngible assets 12 13.986.126 74,36CI,276 13.9￿126 14.360,276 Current a55ets Stocks Debtors Cash at ba)k and ift hand 14 36.853 684.610 3,333.005 15 428.951 2.596.958 3.OW293 4,054,468 Creditors.. aM(￿MIts faS1ing due ￿"￿ L year 16 15752741 f872.644? Net Cuttent assets 1513.019 3, 181.824 Total assets less current 11obilili8s 16.499.145 17,542, 1(X) Total net assets 16,499,145 17,542. 1(Kl Charlty lund5 ReStr￿ted funds Unrestricted funds 19 12.225.602 4273.543 12,958.295 4.583,805 19 Total funds 16.499.14S 17,542. 1(k) The Trustees ackfxi*ledge th&r reswJnsOilitie5 frx c¥mptyMg ￿ the requI￿ents of the Act with reSp￿t to a¢0￿nI1￿j ¥8&xds a￿1 weparation offinancial statemwsts. The financial statements apprwl and authoriwj f(K issue by ts Trustees on ned ￿ their behalf by.. Ms J Rice-Bowen Ttustee Mr J T Sutcr￿e Trusiee The noles on pages 19 to 42 fr*m part of trwe $tal￿ents. Page 16 EUREKAJ THE NATIONAL CHILDREN'S MUSEUM IA company lirnited by guarantee) REGISTERED NUMBER: 1948578 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2023 2023 2022 F￿ed assets Tan9itle assets Investments 12 13.986,126 14,360,2T6 13 13,986,128 14,360.278 ¢L¢rr¢nt assets Debtors Cash at bank artd ￿ haTr 15 646.415 1228,437 705.039 2.989,605 1874.852 3.694.644 Credtt￿s. amounts faI￿j due wilhin r star 16 {484,6111 rK86,261) Net current assets 1390,241 2,908,383 Total assets less ¢urrent liabilities 16,376.369 17,268,661 Totsl net assets 16.376.369 17.268,661 Charity funds Restrtted funds Unrestricted funds 19 1222S.602 4.150.767 72,958,295 4.310,366 19 Total fvnds 16.376.369 17.268.661 Trustees th￿r ￿Sp(￿91bi&kn.es ￿ cornpfvj wth the requi￿rnents of the Act wrth iespect to accc4￿tIng records aftd preparatth of financaal slalernenLs. The fin￿¢￿1 slaternents akV￿j aull¥Jfised for Is$￿ by the Trus￿9 on arml styJn8d on their behalf by". LL s J Rice.BovKn Trustee MrJ T Su¢¢liffe Twstee notes on pages 19 to 42 fomi part of these finan(xal slalemenLs. Page 17 EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IA ¢ompany limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEIABER 2023 2023 2022 Cash flows from operating actrvities Net cash piowded in 0￿ratir￿j actNibes {￿le 221 {224.29SI 5,428,983 Cash flows froffl investing activlties Dmdends. interests and frrmn investsments Purrthase of tsngible fixed assels 84,511 26,633 15962631 (5, 170,290) Net cash used in investing a¢tbviti8S 1511.7521 15,143.6571 Change In Cash and ¢ash equivalents in the year Cash alld cash equivalents at twiming of Ihe (736.0471 3,333.005 285,326 3,041.679 Cash and cash equNalents ai the end of the year {note 231 2,596.958 3,333,Q05 The notes m pw 19 to 42 form of finarKAal statements Pagè 18 EUREKAI THE NATJONAL CHILDRENE MUSEUM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 General infonnafion Eurekal The NatK>nal child￿n'S Musety7) a rknritable company lirnited by guarafrtee and registered in England and Wales. The registered a¢Jdr8ss i% Eur8kal The Nalional Children's Museum, Discovery Road. Halifax, West Yorkshi￿, HX12NE. The functionirMJ ¢wrrw is SterfTrNJ (£1. ¢ounting poli¢ie5 2.1 Basis of preparation of financial staternents The finafwl statements have been prepared in acc(xdance wlh the Charibes SORP IFRS 1021 _ Accounts'ng aryj Reporting by Charitses.. Ststern8nt ol RecomrneThJed Practi￿ applicable to charities preparirvj their acctsunts in wilh the Finanual Repowting Standard applicable in the UK and Republ￿ of IreL3rKI IFRS 1021 leffective 1 Jaftuary 20191, the Financial Reporknng Standar aWicaNe in Ihe UK and Repubk of Ireland IFRS 1021 ar*J ts CL¥npan* Aci 2tMI6. Eureka! The NatK)nal Chitdren's MuwJrn meets the definitK)n of a benefit entity under FRS 102. Assets and liabiffties a￿ ￿¥tsa￿ recogfjised at historral cc61 or tran￿tIOn value unless Othe￿7$e slated in ￿ rdevant accounting wlw. The ￿s01*￿ated statement of financial acti￿￿e$ ISOFAI ￿ Consolidated bala￿e sheel n501idate the finarthql StateM￿ts of the C￿￿panY aThJ its subsKliary undertakM¥J. Th8 results of the subsidiary ate rat5iTrJ and publi¢ity and managemenl and 8dministraiKJn. Siaff costs are albrated according to rhe costs of slaff wo¥king directly in the relevant department5 atKJ property costs are alkKzted al￿rdir9 ¢0 the Spa￿ used by each department. Where costs are rK)t directy attribu1at￿e to any departmeni they have been apportion8d accorthng to Ihe iolal of all othw costs rd8tirwJ io each 4Yepatlmeni. SupyJrt Costs ￿ those inryjrred directy in *JpF￿ of exrendthre on the objects of the cornpany and project management ¢arrEd at Hea¢*uartets. Costs of ge￿rat1￿j funds are costs incurraa in atlr&ting vokmtsry incom8, and those incurred in trading activtbe5 that raise fwJ5. Charttat4e 8cbMIE$ atyj GovemarKe (wts afe costs irKwrTed CcYnpan￿S edurational operations. induding supwrt costs and costs relating lo the g0Veman￿ of the company apportioned io charitabk act￿￿es. Expendtture on raising funds irtludes all expenditure incurre(5 by the Grwp io raise funds lor its Cttaritable purp￿eS and indudes costs of all fufidrwsiThJ a¢iivitEs 8vents nont Costs. Page 21 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Accounting policies l¢ontinwll 16 Basts of consolidation The financial sts(ements consdKtate the accounts of Eurekal The Natsonal c￿.￿j￿n$ Museum and its substhry Un(Jerta￿r￿J. 1855 Statton BuqdirwJ Lrynited. The company has takeTr afvantag8 of Ihe exempts"￿) LY)ntained vitthin sectiw 408 of Cotnp8nie5 Act 20(b not to pres•* ds Statemenl of Finarrial Acbwt*s. induding income and expenditure ac£ounls. net income and expendiiure aceth￿t Ic( the yEar deali %¥ilh in the ac￿Unts of (he company was £3,964,821 12021 - £6,136.9991. 2.7 Tangible fryed ass•ts and depr￿latI1)n A review for impainnenl of a ￿ed a&set is canBJ out rf $￿ts or charoes in c•rCumsta￿eS indicate that the ¢anyng value of any fixed asset may not be recoverab￿. ShortFalls beiween the carrying value of fix8d assets aThJ th￿r re[X)verab￿ amounts a￿ ¥*crfwised as Impairmefits. Impaimient sses a￿ recoJntsed in Ihe Staternen¢ of ffina￿al actimtses. Assets in Ihe course of constructhon are at CA)Sts irKurryJ to date. Depre¢lath￿l on thesè assets is nol charged until they are ￿Ought into use. Al each reporting date Cornpany assesses whether there 15 any indicatN)n of irnpaim)eftL If such indication exiqts. recoverable am(yJnl of the asset 15 determsned to be the higher of ils fail value less cosls to sell and its ¥￿u￿ in use. kn mp*m￿nI k)ss is recogni￿1 wher8 caffwng arnount exceeds the lecoverab￿ amtyJnt. Tangible fixed assets a￿ caffEd at cost. net of deprec¢atirm and any F¥OVSk)n for irnpairment. There is no deprectatK>n charged on other fixed assets whicti are assets under cnnstruction. D8precialion is prOV￿e￿ al rates calculated to vrrite off the cost of fixed as58ts, less their estimated resKJual valu8, over their expected useful llves on the fdkThing bases.. Long-term leasehokl wrerty - Yk straKJht liie and car park deveknpment Motor vehicle5 Fixtu￿ and fithros ExhibitK)n ￿uIpMEnt 25% strawJht lir 25% StraHJht line - 10% slwht lir The a55ets' ￿idual values. usefvl INes and deprecration methods are r8viewed. and adjusted Prospe￿1ve￿ if appropriate, or rf lhe￿ is an *ThJ￿?1￿1n of a &gnificartt thange Sir￿ the lasi repDrtirvJ 2.8 Investmenls Fixed asset investments are a form of finaryaal instrumenl an¢J are inibally recognised at th&r transaction cost and subseouently measured ai fair ¥ralue ai 8alan￿ sheet dète, unless the fair value cAnnot be rneasured reliably in which case it is measured al rx)Si les5 impairrnent. Invesirnent gal￿5 and bsses. whèther realksed or uniealised. are c￿￿b￿ed aTrJ prewted as'GainsllLo$8e51 on investments. in the c￿￿$(￿￿ated s*atemeni of finarKial ac*vitie5. Subsidiary undertakiros Inveslm8nts in 5ubshli8ries a￿ valu&J al cost ￿ provisK)n for impairrnenl. Pag8 22 EUReKAI THE NATIONAL CHILDRENE MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 A¢¢ountlng policies l¢ontinu8d) 2.9 Inte￿$¢ receivable Inte￿l on [￿dS hehj ￿ deposrt is *then receivab￿ and th8 amount can be ffleasurad lu8bty by the c(xnpany.' Ihi8 6 rthnally UP￿ nolification of the interest paKY (* payable by the aank. 2.10 Stocks and work in progre StsKks and ￿rk in progress a￿ valued at the of cost and net ￿ariSable v81ue after makiro due allowan￿ for obsdete and 5*Jw-rnoYir4 stLKks. Cosl incjudes dl dir8Ct costs aThJ an appropriate proporticfft of r￿e0 a￿1 ¥ariabte overt*ats. 2.11 Dtbtor5 T¥8de and oth￿ debt(Ks are I￿niSed at setUem8nl arnOL￿t after any traL* discujnt i)ff*rad. Prepayrnents are valued at the amC￿nt wepavj net of any trade dkscounts due. 2.12 Cash at bank and in hand and cash Èoui¥aleni8 Cash at bank ￿ in hand Incl￿ ¢ash and instant bank accwnts. The cash equivalents if￿￿eS shcrt.ierm hèghty inveslments wilh a SW mabJity ￿ three months or18SS. 113 Liabilities and provision$ abilities are recr4nised when Iher8 is an obWvM at the 8aknce sheet date as a rèsult ol a past event. il ks probab￿ that a transfer of e¢(￿L￿1C benefrt TrMII be required in setuernent, and the amout)t ol the settlem8Trt can be estirnatsd reliably. Lialy"ltrs are recognised at the arn￿￿t thai the coynpany anticipates rt wll pay to seiiie debl or the a￿Ount it ha$ recetvgj as advan￿0 payments for the go￿ 0¢ Services it must wowde. Provi8K)ns are measLwed at Ihe best estsmate of Ihe amounts required to setue Ihe obloabon. Where the ettect of ihe ts'me valle of mon8y Is materpl. the provision 15 b8sed on Ihe pre5enl v￿ue of Ih05e amcwnts, discounteij at the p￿-tsx disccunl rate that reflects the risks specffic to Ihe liai¥lity. The urwAJKh"r¥J of the dis¢ouni is recognised w￿￿1n interest payable and similar charge5. 114 Fjnancial instruments The Group ￿lY has financial assets and fin8￿CIal Ik4bilibes of a kind thal qualify as basic financial instrumenis. Basic fina￿101 instruments are ￿l￿allY recognise(l at transaction value and subsequ8ntly measured at thew sewemwrt value Writh the 8XL¥PtKJn of bank k)8n$ knthich are sub5equendy measu￿￿ at arnortksed Cosi using Ihe Èffective interest mell￿J. 2.15Taxatlon The com￿nY is (xJnsKyer￿1 to pass the tests Set in Pafagrapth I Sc**dU￿ 6 of Ihe Fnan¢e Act 2010 and therefore il meets the defénil#y) of a charilatAe c(Mnpany for UK cxjwation t8x purposes. Accordingty. the company is p)lentk8lly exempt from taxatk)n in r8spe¢l of income or Ca￿￿1 gains rece¢ved ￿1th1n categories covered by Chaplef 3 Part 11 of Ihe Corporatk)n Tax Act 2010 or Section 256 of the TaxalH)n of Chargea￿e Gaills Aci 1992. to extent that such In￿Me or gains are applied exdLssivety lo charitsble purposes. 2.16 Pensions The c(xnpany a ￿fined *Xthbutson r*nsion scheme arnl Ihe penspJn tharoe repieseftts the arncxjnts paydble by Ihe companyto the respect of thè year P8ge 23 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limiteil by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Ac¢ounting policies l¢ontinuedl 2.17 Fun(1 accounting General funds are w)￿str￿ted hjnds are awaiL4trAe lor use * th8 dis¢reb'on of the Trusle88 in furtherance of the general obJ￿tiveS of the Group a￿1 whth have not ￿en designated for other tle5ignated fmjs Cornp￿ ￿n￿tricted tund$ thal have set asN1e by the Trusiees paitcular puwe5. The aim arrfl use of èath desvjnated furxl ￿ sel (Kjt in lh8 rM)tes to ts financial 5tstements. Restri¢W fvnds are wtwch arè to te uwj in accL¥dance WU) sp8tsf￿ ￿1￿CtIO￿8 imFosed by donors or whith havè LEen ratsed by the Group lor partKutar purr*)ses. costs of raising and administer#YJ such funts a￿ charged against the $pecrf￿ fuThJ. The aim and use of each restricted fund Ès set out in the notes to Ihe fThncel statements. 2.18 Judgement In applyln9 accounting pL)Ikies and key sour¢es of estirnauon uncertainty The Fyeparation of these finanoal statements ￿Ul￿2 rnanagement lo make judgEments, estimates and assumptio￿ that affect th8 aPpI￿atiOn of and rerwxted arnwnts of assets and liabilities. income and exrenses. Ju¢Jg8rnertt and estimates a￿ waluated a￿ based on historral experiertes and other f8rknrs. includiThJ expedal¥￿5 of futu￿ e￿ts thai a￿ befv￿j to te reasonable und8r the orcUm#an￿S. The Gfwp and the makes esiim*es and 8&8umplK¥KS concem1￿4 thè fulure. The resutb" ac(x)unlbry estimates wll, bydefinrt•)n, sdd(xn equal the ￿lated actua results. Critical a¢¢ounting estimates and 35sumMions: Usefvl econornic lives of tsngible assets Th8 annltal dewetrialKJn charge for tangib￿ assets ts senstbve to thanges in the estirnaled useful e￿n0m¢ lives and resKJual values of the assets. The useful e￿oMiC lives and Tesidu81 Values are re-assessed annually. They are arnen¢Jed when necessary to reneot Cutrent estimates. based on technol(yJical &Yvallcement. futu￿ investments. e¢(￿oMiC utilisation and the phys￿[ COr￿￿On of the assets. See rh)te 12 for Ihe carrying arnotsnt of the pr(p8rty. plant and equipment and note 2.7 for the useful e¢(rnmic lives fN e*h tlass of assets. Bad debt provision The Group ￿ Ihe charitable ¢(wnpany makes ats estirnate of the recoverab￿ valye of trade and other ¢Jeblors. When assessi￿ imptiirment of trade and other deblors. management considers factors inciudirYJ the current ¢redrt ralry of debttr. the ageing profile of debtors and historical experEnce. See Tr)te 15 for It* nel I￿rr￿n9 amoufit of the debtors and assoEiated imp81rment Page 24 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guafanteel NOTES TO THE FINANCiAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Income from donatio1￿ and le9a¢igs Total funds 2023 lund$ 2023 funds 2023 Donatsons 211,632 559.467 1.099 R8St￿&S Unre8tn¢ted fvrtds nds 2022 2022 Total funds 2Q22 4.021.326 408,288 4,429.614 2023 2022 Un￿trIcted Gift aid Cultural Recovery Fur¥J Calderdala MBC Spark Fund- Sp(x)ner Trusl Spark Fund- Others Spark Fund- Dawd Cdino Other 554,622 393,584 2.000 833 593 1.14fj 559,467 408,288 2023 2Q22 Restricted Slraiegic Inveslmenl Fur*Y Medicash Tovm Deal The Johjwn Foundalir 3,842.076 5.000 74,250 loo.(￿) 111.632 100.000 211.632 4,021.326 Page 25 EUREKAI THE NATIONAL CHILDREN'S MUSEUII {A Company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 Ineome frorn ¢haritable acti¥stio5 Unrestricted funds 2023 Total fund5 2023 Totsl in￿e from werat*Jn of museum 2.749.796 2.749,796 Unreslri¢led funds 2022 funds 2022 Totsl in¢LNne from op8r8lM)n of museurn 2,018.594 2.01&594 Jnvestmont income Unrestricted funds 2023 Totsl funds 2023 Bank deposil interest ￿e￿able 84.511 84.511 Total fvnds 2022 funds 2022 Bank deposr( interest receivable 26.633 26,633 Page 26 EUREKAI THE NAMONAL CHILDREN'S MUSEUM {A company limited by yuarantsel NOTES TO THE FINANCL4L STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Other In￿Me Total fvnd$ 2023 Un￿strIcted lunds 2022 Tolal funds 2022 Other incx)miryJ reswrces 105.285 105.285 Page 27 EUR￿1 THE NATIONAL CHILDREN'S MUSEUM (A￿MpanY limiie¢l by guarantee) NOTES TO THE FINAN¢tAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Trading •lctivities Totsl funds fur¥Js funds 2023 2022 ctwty Trading Incon Turrth Fundralskng tr*Jin9 expenses Cctsi ol s*s Adrrinistrab"%e ew6es Wages and sakrtes Erryjbyers Nl PenSIc￿ costs 5T3.716 S41.654 470,554 17,455 4,281 13.716 $41.654 470.554 17.455 4281 352,497 403.217 213.002 9.572 3,331 1.607.660 981,619 I￿ort￿ ￿ti￿"teS tefore taTri"c 139.622 291.109 Tumover of £1.747.282 12022.. £1.272.7281 has teen reccwis8d in fv ctsn801idated slatement of rinarKial a￿l￿)eS in relath)n ¢0 the tradi￿ sut6i(liary. In addrtion. intef-cc¥npary recharg8s of £373.473(2￿￿2: £276,303) hgve bean eliminated consolidalton. Page 28 EUREK&I THE NATIONAL CHILDREN'S MUSEUM IA ¢ompany limÉied by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Anatysls of expenditu￿ by e¥pendituTr type Staff Costs [j￿re￿atIOn Other Costs 2023 2023 2023 Total 2023 Total Cc£ts IrtC￿r￿ by Tr•Jire S&fydiaries ￿289 741.899 Eslabhshrnent 711040 1.291113 244168 483,454 1,294213 2.489.707 486.958 266,849 2,047,920 423,406 668,574 1,488.197 1.3(K),570 344,906 Charitable 6vtties 970 412 1.984468 5 206 201 3.1&3.673 Expenditure on governa 970 412 2.783.713 6.497.735 3.867 527 T¢Ya 2022 1,￿3.687 1,813,318 3,867.527 Support costs 2023 2022 Governance AudiWs remuneratso Legal and professional 28.482 28.884 16.445 72,093 57,366 28,538 Page 29 EURE￿ THE 14ATIONAL CHILDREN'S MUSÉUM IA ¢ornpany limited by guatanteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 10. Net IncomellE¥pertditurel This is stated after ¢hargr¥J". 2023 2022 Fees Payab￿ to the a￿j110¥ forthe atyyrt ofthe Companvs annual acL)Junts Fees payable lo the audrtor in r8SF¢d of fees 41 relation io: Corporation tsx Depreaation of taw.ble awts by group 24,000 16,445 4.882 970.413 4,250 390.522 11. Staff ￿$ts Group 2023 Gmup 2022 Company 2023 Company 2022 Wages 8nd sakries Sock21 security costs Contribution to defined cffitrbulK)n Fens schemes 2,497.700 171.496 1,493.083 113.573 2.027,146 154.041 1.280.087 104.001 74A14 57,032 70.133 53.701 2.743.610 1.663,688 2,251,320 1.437,783 The avwage number of ￿lSOnS empw by the Group and Ccfflwy during the year was as folk>ws". Group 2023 Gft)up Company 2022 2023 Comp8ny 2022 No. Museu 78 22 110 78 150 100 78 The average he*tyJnt expressed as a fvll time equ*dlent was 80 in the wrenl 57 the PreV￿u5 Page 30 EURE￿ THE NATIONAL CHILDRENE MUSEUM IA ¢ompany limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 11. Staff costs Icontinuedl Ms L-A Slradeski. a Tnt5tee. re￿Ned reM￿neratiC￿ of £122.695 in the Seaf 120t2 £115,474) in h8¥ apaty as Chief Executive. Pensw ¢onlribLrtv)ns of 10% of salary paid 12022.. 10%). None of the other Trustees r￿1ve￿ rem￿e[alKIn dJrry Five other employees received rernuneration amwntirvJ to more than £fjO.o￿ in the current accounting year. These 3 ernplosees recewl rernuneration bets￿n £EA).I)00 aad £70.000 and 2 employees re¢eivEd behs*en £70.OIXI and £80,(KKJ •ThY Ihey a4 receive pen￿n ¢¢Mthbuts"ons of 5% of salary. . Costs incurred in relation to key mardgemenl personnel were £130,762 in lotrl12022." £124,7141 and this as in rdaticn b one person ￿ the currenl and prevx)us year. The charity purchased E1.564 {2022: £1.0941 to woteca wJanst loss arisH￿ from neglect or defaurt of rts trustees and offws. No exFens8$12022.' £Nill were Teimbursed to any trusieès. Page 31 7J EURE￿ THE NAnONAL CHILDRE14'S MUSEUM IA company lirniled by guarnnteel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 20rJ 13. Fixed asset investments Investment5 in subsidiary ¢ompani*s Company ost or Valuation At 1 January 2023 At 31 Decernber 2023 Net book valut At 31 December 21fJ Al J1 Dec8mbsr 2022 14. Stock5 Group 2023 Group 2022 Shop gc%)ds for resale Catering gcxxjs for re5a5e 51.033 11,351 33.2(K) 3,653 62,384 36,853 15. tjebtors Group 2023 Gn)up Company Company 2022 2023 2022 Due withln one year Trade deblNs Other debtors Prepayments and awued incC￿e 9.706 28.638 4.367 22S.526 416.522 23.914 34.849 647, 176 419.24$ 655.972 428,951 684.610 646,415 705,039 Page 34 EUREKAI THE NATIONAL CHILDREN'S MUSEUM (Acompany limited by guaTrntsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 16. Cre(litors: Amounts falling du• wrthtn one year Gmup 2023 Gw Company 2022 2023 Company 2022 Trade ¢￿ditOrS Other tsxalion and sorAal s￿lty other uedilo Accruals and delerr*J income f72J30 91,968 16.473 294.503 326.747 31,287 11.192 3,418 146.18S 72.694 16,473 249.2S9 289,621 13,974 11.192 477,474 575374 872.6U 484.611 T86,261 17. Deferred incory Group 2023 Group Company 2022 2023 Company 2022 Deferred income Deferred income al 1 Januay 2023 Resources deferred duriTrJ Ihe >ear 54.932 73.958 IS4,9321 4&667 64.860 {45,6671 37.324 45,667 137.324J 54.932 (XJ,860) Deferred income at 31 De¢*mlKr 2023 73.958 54.932 64.860 45,667 This balane£ is indu(le(I wilhin accru81s and (Jefeffed creditus flue ￿1th1n one year Page 35 EUREK￿• THE NATIONAL CHILDREN'S MUSEU IA¢ornpany limited by guarantee} MOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 18. Finandal Instrumonts Group 2023 Gmup 2022 Company 2023 Company 2022 Financial assets Financial asset5 ffle8sured al fa￿ vah through itwne army expenditu 2.606.664 3.361,642 2,228,437 2,989,6Q5 Gmup 2023 Gmup 2022 Company 2023 Company 2022 Financlal Thabllities Finatoal lvabilbtses mvaswed ai amThtised 295.397 710.637 218.879 303,594 Financial a5S81s measured at la"r vth thrO￿h irwng 8ThJ e¥penditure comprise5 tr8de debtors, other debtLYS and cash in haft¢J. Financtal liabilths measured al aM￿l*j cost compnses Iraje credilors. taxth.on sockil security, nJats. Page 36 EUREK￿1 THE IIATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEM8ER 2023 19. siatemont of funds Statement of funds. currènt year Balance al Balance at 1 January 2023 31 Transfer5 inlout D8c8mb8r In¢ome Expenditu Taxation 2023 Unrestrictsd funds Designated funds Spark Ftsnd Fixe(l asset fund Maintenance & developrnent 3,512 130,1781 164,743 2.026.887 1152.472) 2,039.158 1.539,344 152.8181 1234.56SI 1.251.961 3.592.897 3.512 1205,2901 1100,0001 3.291,119 General fvnds General Funds- all funds 990.908 5.137.$44 {5.348.1201 102,092 11)0.000 982.424 Totsl Unrestrl¢ted funds 4.583.805 5.141.056 15.553.410) 102,092 4.273.543 Restricted funds I ALK)ut Me 1855 Ststh Building Project Gift n kind for exhibitsons Other restricted lunds Eurekal Suence Discovery 226.625 16051 1226,0201 1.911.765 170,7631 1.841,002 Iooo 2.500 74183 114,7631 59,420 Centre Town Deal Gallery Devekjpmenl 10.727.968 14,754 100.IYNI 111.632 1731.3081 1126.3861 66.$44 10,163,204 159.476 159.476 12.958,295 211.632 1944.3251 12.22S.602 Totsl of funds 17.542,1110 S352.688 16A97.7351 102.092 16N99.145 Page 37 EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IA company Ilmltsd by guarantee) NOTES TO THE HNANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. Statement of funds I￿ntInU￿) The fixed asset fund has teen set up lo a55iSt in ¥Jentifyng those tunds that are not free funds and it represents the nel Lxxjk valu8 of tangib￿ fixed assets fUnd￿j frc¥n uniesitthd fun(ts. Yath the exception of frxed asseis h81d in SLthidHry eompani88. The Ma*ntenan￿ & devdoKwnent fund has been desvJnateil by Ihe Iruslees for refuthshment and repairs to the ffluseum assets. The strategic future funds has been desTrJftaW ty the tntstees to en$￿￿ that in the unlikely event that the (ryanisa*K)n de¢Kled to cease tr•JiNJ an ordwtywinding ¢*em of opeiatim5 could be facilitate¢l. The Eureka! Mersey re5tFKled ILwxls baL￿n￿ represents grants aTrJ dOnati￿S recewed for the Pufpose of devebping Eurekal S￿8￿e + OisL>)very at Seacombe. The baLances on the AJI AIMYJt Me. 1855 stat*￿ Buildiry Project, Yorkshire Forward and gifts in kind for exhibilion fijnds are represenled by the purchase of taTh3ible fixed assets, less associated dep￿Clat￿n thar99s. ststement of fvnd5- prbor year Balance at 37 Balance at l January 2022 Translers D8C8mber Irthne ExPe￿I￿Ure T8X8ti 2022 Unreslri¢tsd funds Designated fvnds Spark Fu¥ Fixed asset fund MainteTranc8 & developmenl fund strateg￿ funds 17.962 1.879.258 &704 26,666 2.062.949 (116,343) 300.034 1.052.5L (24.184) 474,966 (400,0(X)) 1.503,282 3,349.720 8.704 1140.52n 375,0 3,592.897 General funds G8nefal Funds- 811 hJn(ts 655.657 3.622.826 (3.304,499) 197.924 (375,0(Xl) 990,908 Tolal Unrestricted funds 4,005.377 3,831.530 13.445.(1261 191.924 4,583,8Q5 Page 38 EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IAcompany limited by guaranieel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 19. Stst*ment of funds Icontinu•d) Re$trl¢ted fund$- prior year I AtX)Lrt Me Iformerty Me 1855 StatK)n Buikling Project Gift in kind ft èxhibth.oris Other ￿$1￿cted lunds Eurekal Mersey Town D8al 423.264 (196,638) 226,626 1.982,528 170,7&3) 1.911,765 (s(￿) 81.962 6.86a217 (T.778) (87.326) (59.496J 74, 184 to,727,966 14.754 3.947.075 74.250 9.359.471 4.021.325 1422.5011 12,958.295 Total of funds 13,364.848 7.852.855 ￿.867.521) 191.924 IT.542.700 Summary of ftmds Sumrnary of fund$- currenl year Balance at 31 BalanGe al 1 Janijary 2023 Transfers Lnlout Decamber come Ex￿ndItU Taxation 2023 Designated funds 3.$92.897 General funds 990,908 Reslricled fund5 12.958.295 3.512 5.137.544 211.632 1205.2901 15.348.120) 1944.3251 1100,01101 100.0ty) 3291.119 982,424 12,225,602 101092 17.$42.1LM) 5.352.68 16.497.735) 102,092 16,499.145 Page 39 EUREIW THE NATIONAL CHILDREN'S MUSEUAI (A company limited by guarantsel NOTES TO THE FINANCIAL STATEMEp￿s FOR THE YEAR ENDED 31 DECEMBER 2023 Summary of funds l¢ontinuedl Sumrnary of funds- prior year Bala￿e al 31 Transfers ￿e￿Mbe 2022 Balance at l January 2022 ExperKliture Taxatic¥> t}eS￿na￿￿ funds General fu￿15 Restricted funds 3.349.720 655.657 9.359.471 8.704 (140.527) 3.822.826 (3,304,499) 4.021,325 (422.5Ql) 375.000 (375,0(Kl) 3.592,897 990,908 12.958.295 191,924 13.364.848 7,852.855 (1867.527) 191.924 17.542, IC 21. Analysis of net assets between furlds Ana￿S of net assets belween fvnds- ¢Ul￿t year Restricted un￿tricted funds fund5 2023 2023 Total fvjnds 2023 Tangl￿e fixed assets Current asseis Credit￿5 due wthin 11.998.127 227.475 1,987.999 13,986,126 2,860.819 3,088,294 1575.2751 IS712751 T*Jtal 12.225,502 4.273,543 16,499,145 Analysis of net assets b•tsM•n funds- prioryear Restr¢ted un￿51￿cte(l funds funds 2022 2022 Total funds 2022 TangitAe fixed assets CUr￿￿t assets Creditors L*Je wilhin one 12.333.391 894,878 1269,9731 2.026.885 14.360.276 3,159.589 4.054,467 1602.6711 {872.6441 Total 12.958,2S6 4,583,803 77,542,099 Page 40 EUREK￿1 THE NATIONAL CHILDREN'S MUSEUM IA ￿MpanY limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ÉNDED 31 DECEMBER 2Q23 22. Reeoncdiation of net mov¢ment in fund$ to net ush flowfrom operating activities Group 2023 Group 2022 Net ino)melexpenditurè foF ts year las rw Ststement d Financial 11,042.9551 4.177,251 Adlusknents for. Depreciat#)n charges Dmdends. inte￿ts an¢J rents from irniestrnents Ilncreaseydeuease in $￿S Ilncreaseydeuease in debto Incyeaselldecreasel in rxeditNs 970.413 390,523 184.5111 {26,633) 125.5311 (128J 255.655 1, 199.502 1297,366} {311.532J Net Gash provided byllused inl operaling activitie5 1224,295} 4428,985 23. Analy515 of cash and cash equivalents Group 2023 2022 Cash in hand Notice deposts Ikss than 3 months) 2.088,35f 508,607 2,089.643 7,243,362 Totsl ¢a5h and cash equtvalents 2.596.958 3,333,005 Analysls of change5 in net debt At31 December January 2023 Cash fl¢)ws 2023 Cash aTrJ cash equNalew 1333,005 1736.0471 2.5￿,958 3,333,005 1736.0471 2.596,958 25. Penslon Commitments The group tnake cOntributK￿ to Ihe personal pen&on gL2ns of ￿lOUS employees. These schernes are of the defined contribution type. The total cost the gr(w dunng the year was £74,41412022.. £57,032). At the year end. ￿tstsnthn9 ¢￿th￿J￿)n5 kn the pkns ￿OUnted to £16.47312022'. £11.1921. Page 41 EUREKAt THE NAnoNAL CHILDREN'S MUSEUM IA company limited by guawantsel NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2023 Operating lease wnrnhtments At 31 De￿mbar 2023 the fknip and the Crffipany haj cc*nrnitrnents to make futur8 minirnurn 18asè payments under non-cancdlatAe orwairy kases as frAtry4VS.' Group 2023 Group Company 2022 2023 com￿nY 2Q22 Not later than 1 year La¢ef than 1 yeaf aThJ not Lthrthan 5 Jtars Later than 5 years 31.942 156.056 1207.500 5,641 4,762 31,942 156.0S6 1.2Q7.500 5,647 4,762 1 J9S498 10.403 1.395,498 10.403 The grovp vo rts subsvjvary cornpany, 1855 stat￿ Bu1￿1￿j Limtled is abo a lessor and had the following lease payrnents under rson.G3nceliqbk orErats"ng leases as folkm." Al 31 December 2023. the cornpany was due £4.61712022.. £Nill and £Nil120Z2.. £Nill of these balances are due within cffle year. 27. Related party transactions Eurekal The National chI￿J￿n.5 m￿urn has one subsidmiry, 1855 stati￿ Buikjing Litnited. The trading results of this subsvjiary are surnmarwj sn note 28 to the accounts. At 31 DecemiEr 2023. Eurekal The National ch￿J￿rt,$ Museum wa8 £225,526 by 1855 Staboll 8uiWing Limited 12022. £34.8491. Eurekal The Natioftal ChiW¥en's Museum has made rnanagement r&tharges of £373.473 12022.. £276,303) to 18&5 s￿l￿)n 8uiklirvJ Limite(J. 28. Principal subsidiaries The following wa9 a Wjb5Kli￿ uThlerlakry of the Ccmnpany. Name Company number Holdlng Included In consolidation 1855 Slati¢)n Bu1￿1ng Limited 03613193 100% Yes The financk4 ￿UTrts of Ihe wb5idHry for Ihe yearwere.. Name Income EXp￿diture ProfftllLossl Net assets I surplu￿ Illiabilitiesl (Deficit) for the year 1855 static￿ BuikliNJ Lirnite(I 1.747.282 1,607.660 139.622 122,779 Page 42