Règistered nufflber: 1948578 Charity numbèr: 292758 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company limited by guarantee) TRUSTEES. REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) CONTENTS Page Reference and administrative details of the Company. its Trustees and advisers Chaimian's statemènt Trusteès. report Trustees. respon$ibilities statsmont Independent audiloe5 report on thg financial statements Consolidated statement of financial acti¥iti8s 10 15 Consolidatsd balance sheet 16 Company balanc¢ sheet Consolidated statement of cash flo￿ts 17 18 Notes to financial statements 19-39 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY. ITS TRUSTEES AND ADVISERS FOR THE YEAR ENDED 31 DECEMBER 2024 Trustees Mr A J Aubrey (resigned 28 June 20241 Mrs A M Hope (resigned 23 February 20241 Mrs L A Stradeski Ms J Rice-Bowen Mrs S J Higginson MrsKELWard Mr J T Sutclrffe Mr J H Kelly (resigned 4 March 2025) Mrs F M Best Mr S K A Aziz Irestgned 29 November 2024} MT5 S Sharif Company registered number 1948578 Charfty registered number 292758 Registered offl¢e Discovery Road Halifax West Yorkshire HX1 2NE Company secretary Mr A Forbes Chief exe¢utiv• officer MTS L A Stradeskn Indapèndgnt auditor Amistrong Watson Audlt Limrted Chartered Accountants and StsILrtNy Auditors Third Floor 10 South Parade Leeds West Yorkshi LS1 5QS Bankers Barclays Bank PLC 10 Market Street Bradford West Yorkshi BD1 1EG Solicitors Wrigleys LLP 19 Cookridge Street Leeds West Yorkshire LS2 3AG Page 1 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company limited by guaranteè) CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 DECEMBER 2024 The chair presents their statement for the year. In June 2024, EuTrkalbs founder and Lrfe President. Dame VNien Duffiehl, celebrated the 601h anniversary of the Clore Duffield Foundation. Eureka's Chief Execub"ve, Leigh-Anne Slradeski, and l joined hundreds of the most influential people from the UK Arts and Creative sectors to celebTale the story of the extraordinary contribub'on that Dame Vivien has made to the cultural life of our nats"on. Central to that story was her wsion and cornmilment to the founding of Eurekal as the UK'S first dedicated Children's Museum. It wa5 gratifying lo see Eurekal featured so prominently in this celebration and to hear of Dame Vivien's ongoing affecb.on for and pride in this unique achievemer5t. Later in the year it vrds our great pleasure to y￿1CoMe Dame Vivien to the Wirral lo show her round Eurekal Science + Discovery Nthich is a place that would never have existed if she had not first conceived of Eureka! in Halifax. Dame VIMen was E￿￿ka1￿$ first Chair and I wesent this rewrt 3$ I reach the end of my temi as the latest Chair of the Eurekal Board of Trustees. It has been a privilege to steward thi5 organisation for the last three years and lo work alongside my fellow trustees,. our ou15tsnding Chiel Executive and exemplary Senior Leadership Team. l a￿ayS use the word privilege when I speak of my inv(4vement Eurekal but l am concerned that the word privilege is slarb.ng lo creep into our discourse in a diffe￿nt context as we begin to woffy that a visit to Eurekal is in grave danger of becoming the preserve of the privileged few. We know from both visitor feedback and from the accolades and awards that we have won in 2024 that our offer continues lo be of the highest quality. We also know that the impact a vistt to Eurekal ha5 on a child has the potential to reach far into the future. We ￿gUla￿ hear from adutts tell us about a long-remernbered s¢hool visit to Eurekal that vrd5 a formatsve or pivotal moment in their young lives. They speak of captivating days out that inspired a love of leaming and even inforyned later career Ch￿Ces. However, in the last year we have seen the ongoing impact of global polth'cal and economic turmoil lrickle down lo our local context and put those critical eady experiences in jeopardy. We have walthed as the continued squee2e on household finance5 has had a delrimenlal irnpact on our wsitor numbers and day5 Out that were once affordable and roub.ne are now an out of reach luxury for rnany tsmilies. In addrtion. a recent poll from the Sutton Trust reported that 530A of schools a reducing their spending on trips and outings. Anecdotally. hear that Parent Teacher Association funds once used to SLFPPOrt added extras are being diverted to pay for essentials such as uts.lity bills. We are detemined that the Eurekal experience should not only be available lo those children whose parents IOT in¢￿asinglY grandparents) can afford to prioritise the fundamental and legally protÈded right for Ghildren lo play. To this end we have spent much of 2024 reviewtng our bu5ine5s model and developing a ftjndraising strategy that we hope will enable us to invofve more people and ensure the widest possible access to the enriching experiences that Eurekal offers. Having operated for ￿enty years as an entirety 5eff-funded organisation without stalulory subsidy or regular ¢tsntributed income from trusts and foundab'ons this represents a significant shift but it is one that we musl Fnake if we a￿ to realise our u?sion of bnnging extraordinary opportunth.es for creative play and learning lo all childwn, no matter what their background or economic ciicumstsn¢e5_ Despite the challenges that we are facÉng, not just as an organisation but 35 a sector and a nation, we remain confident that we are making a difference lo the children who walk lor more often run) through our doors. In 2025 we will take Making a Difference as the theme of the conference that we wll host on behalf of the Hands On1 International Association of Children in Museums. Thi5 event wll see us welcome over three hundred delegates from acioss the world lo Livefpool where. ￿th sector colleagues. we will showcase best pra¢li¢e", share expert knowledge and reassert our commitment to this vital wo¥k. Comrnilmenl is a defininq characteristic of the Eureka? Board of Trustees who are dedicated lo en5unng the ongoing success of Eureka1 and to meeting our charitable obiects and delivering publ+c benefrt. This year we have recruited six new trustees who wll take up their places during the course 012025 bringing new skills, experience and energy to the Board. They are part of an ongoing board development programme that aims to ensure gold standard governance. This year we saw the reb"remenl from the Board of Alan Aubrey after thirteen years of insightful and inspirational contributions. Alan was twly the best kn.nd of critical friend. Shahban Azrz stepped down from the board after one Page 2 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) CHAIRMAN'S STATEMENT {CONTINUEOI FOR THE YEAR ENDED 31 DECEMBER 2024 term during %thich b.me we were gratelul for all of his work on the HR & HS committee. Thanks also go lo Jot)n Kelly who leaves Eu￿kaT h8￿n9 sat on the Finance Committee for three years ￿ere his clarty and rigour served us well. We also reported on the sad death of Peter Smart who served as Eurekal's Chair for nearfy a decade before he resigned in 2021. As I hand over the role of Chair to my successor Kirsty Ward. I recognise that there are many challenge5 ahead, not least the re501ution of long-stsnding issues *ith the unused heritage buildings on our srte in Halrfax. We are working closely wth the Leader and Chief Execuiive of Caldefdale Counal to ensure that the Eurekal site is fit for purpose and wll continue to support our pioneering work in the heart of Halrfax vthere ￿ have made our happy home for the last thirty-three year5. Alongside the challenges there are also many opportunrties for Eurekal to support and nurture new generations of children and young people as they develop their crrtiGal thinking skills, curiosty and crealiffity. Working li￿lesSlY to this end, our Senior Team of Tudor Gwynn. Liz Peniston, Michelle Emerson, Andy Forbes and Andy Grimshaw led by CEO Leigh-Anne Stradeski continue to go above and beyond lo lead and inspire a fanta5b"c team of staff. Together, on a daily basis. they make Dame Viwen's original vision a living, breathing, giggling, squealing. running, lumping, laughing and leaming reality whith is afvAys an absolute joy lo behold. Jane Rice-Bowen Chair of Trustees Date.. 27 202) Page 3 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantè•l TRUSTEES. REPORT FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees P￿sent their report for the year and finan(ial statements for the year ended 31 DecembeT 2024. STRUCTURE. GOVERNANCE ANO MANAGEMENT GOVERNING DOCUMENT". Eurekal The Nab"onal Children's Museum is a company limited by guarantee govemed by fis Memorandum and Articles of Assoriats"on dated 18 December 1985. It is registered as a ¢harity wth the Chanty Commission. APPOINTMENT OF TRUSTEES Trustees are appointed by the members at the Annual General Meeting of the charity, after nomination by one member, as required by the chartys Artides of Association. The 8oard has power, at any lime, lo appoint any person to be a member of the Board lo fill a casual vacancy or a5 an addition to the existing rnembers of the Board. Trustee5 are required to retire by Totalion on an annual basis. TRUSTEES INDUCTION AND TRAINING Upon appointment Eurekal trustees are given an induGb"on pack vthich consists of the charity's Memorandum and Articles of Association. the business plan. the latest stslutory accounts, and other relevant strategic and operational documents. Through a meeting wth the Chief Exe¢utsve and other senior staff. tnJ$tees are briefed on their ￿Sponsibl1￿tieS and obligatsons a5 trustees. provided vAth appropriate Charity Commission documents and referred to the websrte for further info¥mab"on. Relevant infomiats'on and training opportunities are routinely circulated and trustee5 are encouraged to ensure their knovAedge is kept up to date. Key alierab'ons to charitable law or requirements are addressed at trustee rneeb"ngs. ORGANISATION The Board of Trustee5 administers the chartty. The Board meets quarterty and subcommittees covering finance, human resources and health and safety meet regularfy. A Chief Exeujtive is appointed by the trustees to provide 51ralegic leadership and manage the chantys daY-t[￿daY operations. RELATED PARTIES The charity has a subsidiary, 1855 Station Building Limrted, ￿lch lets propety rn the 1855 Station Building at Eurekal The National Children's Museum in Halifax. and operates the cafes. shgp5 and car parks across both Eurekal attractions in Halifax and Wirral. OBJECTIVES AND ACTIVITIES The charity's objects are to Promote, maintain and advance public education by the promotion. estsblishment and maintenance of a museum, or museums. for children. 11 operates children'5 museums providing intera¢tive educational exhibits and programmed workshops designe¢J to increase child awareness, curiosity, understanding and cnjoyment of the wodd in vthich w8 livo. The Trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefll when reVIe%￿ng the charity's aims and Ub1¥L￿ve￿ diiJ Iri yloiiiiiii4 future activities. Page 4 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company lifflited by guarant￿) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 STRATEGIC REPORT ACHIEVEMENTS, PERFORMANCE AMD FUTURE PLANS strategic Priorities Each year, the strategic framework for Eurekal is rewthved. stralegic ￿Or[lIeS are agreed. and corporate objectives are set. In setting the corporate objectives for 2024, we were aware that the eytemal context wa5 becoming increasingly challenging due to the continuing cosl-of-living crisis, rising Gosts of staffing and operation5, and the increased finan¢ial pressures on OUT key audtences of young families and schools. We believed that maintaining our audience base at Eurekal The National Children's Myseum IECMI in Halifax would be achievable, however, giveft that we were sb"Il in the eady stages of trying to build a solid found*ion of public and school visits to Eurekal Suence + Discovery IESDI V￿ antiapated another incredibly challenging year. A5 8 consequence, we chose to tske a realistic approach to the obJ'eth"ves set for the year. while continuing to work towards the fulfilmenl of the four slrategic priorib.es arts"culated in the 2024 to 2026 Strategic Framework.. Outstanding playful leaming experiences for children. young people and families Diversity and inclusion across our audience and Work team Strategic and sustsinable approa¢h tr) future development and gffjvth Business model supports current operations and fvture plans. Strategic Priorities 1 and 2 fomi the foundab.on of ¢xJr abilty to deliver on our charitable remrt a5 an educational charity and for the re¢wth)ent and retenb.on of a committed staff team. These tsvo priorrties are therefore the fundamentals which undedy OUT programme and staff resource planning year on year. Strategic Prioritie5 3 and 4 are essent￿al to the long-term sustainabilty of the charrty and in the current context their significance cannot be understated as we tackle current finanual challenge5 our eyes dearfy focu55ed on the future. Progress was made in all areas. and some key high1￿hts and challenges folk)w. Key Highlights and Challenges At ESD, our weekend and public hdiday events pfogramme was expanded with an emphasis on partnerships and the use of exiemal providers. The number of school workshops available at ESD ¥rdS expanded, and ￿￿ now have a totsl of 9 school programme$ available from Eady Yeafs through to Key Stage 3 A renewed focus on Eady Years resulted in the introduction of the Litue EXplo￿rS at both ECM and ESD. This irnmensely popular programrne drives visitor foottall during weekdays and reinforces our core belief that leaming through play begin5 Wth the earfiest learners. Following on from the ￿development of Ecostreet and the Post office in 2024, we launthed a new Shop in the Living and Working Together gallery at ECM. This was 5UPPOrted in part by ¢ontributions made in memory of David Celino, who loved to play at Eurekal throughoLrt his childhood. Our continued emphasis on reaching harder to ￿ach audiences induded the followng.. "Relaxed SENdays" at both sites for disabled ¥isrtor5 and their familie5 intrOdU￿d in 2023 continue to grow in popularity. The A World, an NPO vknich supports the aulislic communty. held their second 'Takeover Eurekal. day at ECM in 2024. The first one at ESD will be held in 2025 as well as a third event at ECM. A comrnunty engagement project invoM"ng Mersey Forest and Foxfield Sthool involved a team from ESD going to a field behind the school lo plant trees alongside the students. Foxfield is a school for Special Needs age 11 to 14 in Woodchurch Estate. nearlo ESD. The Sun shone, and an enjoyable day was had by Our secoAd team-building day for everyone vrds held al ECM this year and proved to be an enomou$ success. This enable5 stsff vtho are geographicalty separate to come together. get to know each other and share practice and ideas. On the environmental su5tsinabi5ty front. a PV array installed in summer 2024, the help of a grant from the West Yortshire Combined Authorrty. This has resuhed in sawngs an average reduction in Page 5 EUREKA! THE NATIONAL CHILDREN'S MUSEUM {A company14mited by guarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEIIIBER 2024 electri¢ty use of 22% per month. Progress was made al ESD to improve café performance and margins through a reduced offer and workforce. This was require(1 lo align the café v￿th lower levels of visitors than originally fore¢a5t. In a similar vein, the opening hours at ESD during temi time were reduce(I to Wednesday to Friday. opening 7 days per week only during school holidays. A three-year fvndraising strategy Wd5 completed and delivery of Year 1 bwth a larget of £1 OOK towards core costs wll commence in Q12025. The Play it FoThvard campaign was launched just prior to Chrislmas at both sites, lo enGourage familie5 who book free repeat visits to make a contribution which will wjpport familie5 and children from disadvantaged bad(grounds to visit. So far £2127.25 ha5 been donated. A greater emphasis on venue hire and corporate events to contribute to eamed income is underway. A strategy to work ￿￿th Calderdale to resofve the long-standing concem of Eurekal's responsibilty for redundant heritsge assets on its leasehold 511e was developed and initial steps have been undertaken. At ESD, the Eurekal Public Realm project was on hold for most of the year pending the signing of a Grant Funding Agreement IGFAI. The project was re-initialed earfy in 2025 upon finalising the GFA and the Eurekal claim for outstsnding funding vrns approved. Discussions around the implementsb.on of this project a￿ ongoing. We wll be hosb.ng the 2025 HandsQnl Intemational conference from our base in Liverpool City Region. In 2024 we idents'fied the conference theme as Making a Dtfference Raising Aspiration, Exceeding Expectations and began the process of marketing and PTomolion and programme planning. Eurekal is very proud to have received 3 Gold award for accessibility and inclusivene55 and a Silver award for New Tourism Business in the Wisit England Awards for Excellence in June 2025. This followed tsking the top prize in both of these categories at the 2024 Liverpool Cty Region Tourism Awards earfier in the year. FINANCIAL REVIEW SUMMARY ECM welcomed 259.910 wsitors acr055 the year, a fall of 1% on the previous year. vthile ESD saw 102.452 visitors in its second full year of operab"ng. Overall income for the year was £5,149.842 a decrease from £5.352,688 in 2023. This fall is primarily as a result of the end of grant receipts associated with the new attracts"on. The nel movement in funds for the year fell to a deficit of £1,613,153 in 2024, from a deficit of £1.042,955 in 2023. Within this. restricted funds fell by £801.004 %thile unrestricted fvnds fell by £812,149. INCOME AND EXPENDITURE Income for the year was £5.149,842 12023.. £5.352,6881 induding unrestricted income of £2,623,766 from charitable activrties, £1,885:858 from trading activitses and £516,128 from gifts and donations. Restricted income of £43,523 was received from grants and donations and was all spent wthin the year. Trading activities. after intercompany ￿chargeS. generated a suqAus of £265,262 and the trading subsidiary wll, therefore, make a payment under gift aid to the chaTty in 2024. The tharity received a further £361,611 by way of rental and management charges from the trading subsidiary12023.' £373.4731. Cliaritable EAyriiaiiuig Iv>¥ Iv £J,J IT,834 j20i3'. i>,21)J.￿I)- Page 6 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limit•d by guarantse) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 FUTURE PLANS The Growth Strategy developed in 2023 lasd OLrt a three-5tage approach to extend our offer, reaching a broader audience and strengthening our financial fesilience. However, in light of cufrent challenges the 8oard of Trustee5 agree that this should be put on hc4d while the tsvo key future critical issue5 are addressed. These indude.. Establish ESD as a successful and sustainable visitor attraction through growth of visitor numbers and income. It has become clear that the currenl business model that has proven successfvl at ECM since opening, 15 riot going to resutt in sustainability at ESD, al least in the short term. With wsitor numbers not achiewng the levels anticipated in eady feasibilty studies. a dependence on earned income and secondary spend wll not result in the income required to support operats"ons. As a consequence, there is a focu5 On the followng key areas to support future planning.. Achieving a better understsnding of internal and extemal reasons for lob%er footfall to drive programmes and markeb.ng - a non-visitor survey was conduded and 2025 V•ill tsrget and fttus on converting non-visilors to annual pass holder5. Diversifying income for the 2025 year al ESD - notabty adding revenue fvndraising and commercial income to the model in addits.on to ￿ann1fty for continued audien￿ growth A ¢ommerc4al review wÈll be commissioned. Identifyng opportunrties to achieve cost sawngs across all a￿aS Review of staffing structure to ensure that existing roles and responsibiltties are aligned vAth business goals. Enhanced stakeholder engagement and development of partnerships to 5UPPOrt achievernenl of income targets and delivery outcomes. Resolv8 the ongoing issues with the htritage building5 and other elements that are part of the ECM leasèhold through a proce55 of rètuming them to Calderdale Metropolitan Borough Coun¢il At the boaTd meeting of 23 February 2024, the board approved the Srte Development Committee to progress discussions wlh CMBC to find a resolution this long-standing issue. Subsequendy, the board has taken legal and property advice, had a meeting wth CMBC leadership and agreed lo jointy undertake and fund a dilapidations survey lo understand the state of the buildings and costs associated vmth their ongoing repair and mainlenan¢e. The Survey wll commence in May 2025 and once the report is received, further Iliscussion v¢ilh CMBC VAII ensue. Resolving these Iwo critical issues is essential lo Eurekal's longer term planning and development of its sf(es and ftjture aspiration5. Planning to develop a Strategic Framework for 2027 and beyond will Commence early in 2026. Page 7 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limitèd by guaranteel TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 DECEMBER 2024 PRINCIPAL RISKS AND UNCERTAINTIES Eurekal a¢Jopts the pnnaples of risk management in tyder to protect the heath, Safety and welfare of ils ernployees and its ￿sItorS. to protect its property, assets and other Tesources and to maintsin its reputstion and good standing. The Board of Trustees rewew5 the major risk5 to vthich the charity 15 exposed on an annual basis, particulady those related to operations and finance. The trustees have given ¢onsiderats"on to the appropriate policies. procedures and systems to M￿gate the chariws exposure to the major risks and a risk register exists. bvhich is regulady reviewed. The key risks identified wthin the register are maintaining demand for the attiactions for w511ors, the health and safety of visitors and staff, budgetary control and financial reporkn.ng and compliance with legislation and regulations. INVESTMENT POWERS Eurekal is a public benefft entty. The Memorandum and Artides of Association of the chanty pemiit the trustees lo invest the monies of the charity not immedialety requireil for its purposes in or upon such investments, securities or Propety as rnay be thought fit RESERVES AND RESERVES POUCY Eureka1 The National Children's Museum recognises free reserves as that part of the Charity's unrestn.cted funds that are freely available lo spend on any of the chari￿s purposes. It is the wew of the trustees. taking into account organisational risks. that a taTget for free reserves of apprtsximalely £1,000,000 is ideal. This figure represents approximately three months of core operating costs across both sites and Y￿Uld allow the attract￿nS to remew rts actiwti.es in the event of a significant redu¢tion in trading revenues. The development, refU￿1$hment and maintenance of the museum'5 rnain building. galleries, grounds and heritage assets require signrficanl funding. unrestn.cted funds in excess of the required free reseNe5 will be designated foT these purposes each year. Al the end of 2024 Eurekal had free reserves of £411.579 12023.. £982,424) as defined by the Charity Commission. The Trustees wll continue to revFew various options, tnduding the disposal of certain capital assets, and establishment of an endowment fund, in order to fijrther secure the charity's future. Additional trading opportunrties are also being ex￿ored whth would farjlrtate a transfer of any net surplus generated into rese*ves. Eurekal operates as a going concem. DISCLOSURE OF INFORMATION TO AUDITORS In 50 far as each of the trustees is aware.. there is no relevant audit informab.on of which the tharitsble company's auditor is unaware,. and the trustees have taken all steps that they ought to have tsken to make themselve5 aware of any relevant audit informakn.on and to establish that the auditor is aware of that infomiation. Page 8 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 AUDITORS The auditors. Armstrong Watson Audit Limrted have indicated their willingness to continue in office. The designated Trustees ￿11 propose a motion appointing the auditor5 at a meeting of the Trustees. Approved by order of the members of the board of Trustees on 2Jl) and signed on their behalf by.. Ms J Rl¢e4owèn Chair of Trustees Mr J T Sutcliffe Trustee Page 9 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limitsd by guarantèè) STATEMENT OF TRUSTEES. RESPONSIBIUTIES FOR THE YEAR ENDED 31 DECEMBER 2024 The Trustees (who are also the dtrectors of the Company for the purposes of company lawl are responsible for preparing the Trustees. report induding the Strategic report and the finanual stslements in accordance with applicable law and Unrted Kingdom A(tountsng Stsndards (Untted Kingdom Genetally Accepted Accounting PraGb"cel. Company law requires the Trnstees to prepare finanaal ststements for each finanrial . Under company law. the Trustees musl not approve the financial 5ts1ements Ltnless they are satlsfied that they gtve a true and fair view of the slate of affairs of the Group and the Charrtable Company and of their incoming resources and application of resources, including their income and expendilure of the chantable group. for that perEod. In preparing these finanrjal statements, the Trustees are required to". select suitable accounting polioes and then appty them ¢onsi5tentty', observe the methods and principles of the Chartb"e5 SORP IFRS 1021". make judgments and accounting estimates that are reasonable and pnjdenl", state vh)ether applicable UK Accotjnting Stsndards IFRS 1021 have been followed, subject to any material departures disdosed and explained in the financi¥ 51atements', prepare the financial ststement5 on the going concern ba515 unless it is inappropriate lo presume that the Group wll continue in business. The Trustees are responsible for kee￿ng adequale acc(MJnb"ng records that are sufficient to show and explain the Group and the Company's transacb"on5 and disdose wth reasonable accuracy al any tirne the financial position of the Group and the Company and enable thern to ensure that the financial statements comply wth the Companies Act 2006. They are also Tesponsible for safeguarding the a55ets of the Group and the Company and hen¢e for taking reasonable Steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible for the maintenance and integrity of the corporate and financial information included on the tharitable group's websrte. LegÈslation in the Unrted Kingdom goveming the preparation and dissemination tsf financial statements may drffer from legislats'on in other jurisdith'ons. Page 10 EUREI(A! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guardntee) INDEPENDENT AUDrfoR'S REPORT TO THE MEMBERS OF EUREKAI THE NATIONAL CHILDREN'S PJJUSEUM Opinion We have audited the financial ststements of Eurekal The Natsonal Children's Museum (the 'Pa￿nt charitable company'l and ils subsidiaries (together the 'gfOLlP'I for the year ended 31 December 2024 which comprise the Consolidated statement of financial activities, the Consolidated balance sheet, the Company balance sheet, the Consolidated ststement of cash flow5 and the related notes. induding a summary of significant accounting policies. The financial reporting framework that has been applied in Iheir P￿paratiOn is applicable law and United Kingdom Accounting Stsndards. induding Financial Reporting Stsndard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United ￿ngdorn Generally Accepted Accounting Practice). In our Opini￿ the financial statements.. give a true and fair view of the state of the Group's and of the parent charitable company5 affairs as at 31 December 2024 and of the Group's incoming resources and application of ￿SoUrCes, induding (ts income and expendrture for the year then ended", have been propedy p￿pa￿d in accordance Unrted lfjngdom Generally Accepted Accounting Practice". and have been prepared in accordan¢e the requirements of the Companies Act 2006. Basis for oplnion We conducted our audit in accordance vmth Intemational Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilities under those stsndards are fvrther described in the Auditorfs responsibilitie5 for the audit of the financial statements section of our report. We are independent of the Group in accordance wlh the ethical requirements that are relevant to our audrt of the finanaal statements in the United Kingdom. including the Financial Reporting Council's Elhitxl Stsndard. and we have fvlfilled our other ethical responsibilities in accordance wlh these requirements. We believe that the audit evidence V•E have obtained is sufficient and appropiiate lo provide a basis tw our opinion. Con¢lusions relating to golng ¢on¢èm In audits.ng the financial statements. we have conduded that the Tru5tees' use of the going con¢em basis of accounting in the preparation of the finanaal statements is appropriate. Based on the work we have perfornied. we have not idenbfied any material uncertainties relating to events or conditions that. indiwdually or collectively, may cast signffi¢ant doubt on the Group's or the parent charitable cornpany's ability to continue as a going concern for a period of at least twelve months from ￿en the financial slaternents are authorised for Issue. Our respon5ibilitie$ and the res￿￿bIlI￿eS of the Trustees with respect to going concem are described in the relevant sections of this report Page 11 EUREKAT THE NATIONAL CHILDREN'S MUSEUM IA company limit•d by guaranteel INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EUREKA! THE NATIONAL CHILDREN'S MUSEUM (CONTINUED) Othèr infomiati¢)n The Trustees are responsible for the other inf0m￿trOn. The other infc¥mation comprises the infomialion induded in the Annual report. other than the financial statements and our Audrtorfs report thereon. Our opinion on the financial statements does not cover the other inforn)abon and, except lo the extent otheTwse expli¢illy slated in our ￿POrt, we do not express any fom7 of assurance condusion the￿On. In connection vthh our audit of the financial statements, our responsibility is to read the other infomation and, in doing so. consider %thether the other information is m*erially inconsistent with the financial statements or our kno%￿edge obtained in the audit or othewse appears lo be rnaterially rnisstated. If we identfy such material inconsistencies or apparent material mis51alements, a￿ required lo determine whether there is a material misstslemenl in the financial statements or a material misstatement of the other information. If, based on the work we have perfofmed. we condude that there is a material misstalemenl of this other inforniation, we are required to report that fact. We have nothing to report in this regard. Opinion on othe¥ matters prescribed by thè Companies Act 2006 In our opinion, based on the y￿rk undertaken in the course of the audit the infornialion given in the Twstees. report induding the Group Strategic report for the finanaal year for which the financial ststements are prepared is ¢onsi5tent the financial statements_ the Tru5tees' report and the Group Strategic report have been prepared in accordance with applicable legal requirements. Matters on ￿thIch we are r•qulTrd to ￿pOrt by exceptlon In the light of our knovAe(Ige and understanding of the Group and the charrta￿e company and ils enwronment obtained in the course of the audiL ￿ have not identsfied Material misstatements in the Trustees, report including the Group Strategic ￿POrt. We have nothing to report in respect of the foll0v￿rtg matters in relation to vthi¢h Companie5 Act 2006 requires us to report to you if, in our opinion- the pa￿nt chantable company has not kept adequate and sufficient 3¢counting records. OT retums adequate for our audit have not been received from branthe5 not vssited by us., or the parent charrtable company financial ststements are not in agreement the accounting records and retums., or Certain disc105ures of Trustees, remuneration spe¢ified by law are not made., or %%e have not received all the information and explanab.ons we require for our audit. Page 12 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarants•) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EUREKA! THE NATIONAL CHILDREN'S MUSEUM ICONTINUEDI Responsibililitrs of trustees As explained more fully in the Trustees. responsibilthes statement on page 10, the Trustees (who are also the directors of the ¢haritable company for the purposes of company lawl a￿ responsible for the preparation of the financial ststements and for being satisfied that they give a true and lair view, and for such intemal control as the Trustees determine is necessary to enable the preparation of finanaal statements that are free from material misstatement, ￿ether due to fraud or error. In preparing the financial statements. the Trustees are responsible for assessing the Group's and the parent charitable companys ability to continue as a going con¢em. disclosing, as applicable. matters related to going concern and using the going Concern basis of account'ng unless the Trustees either intend to liquidate the Group or the parent charitsble company or to cease operations, or have no realistic altemative but to do so. Auditor's responsibilities for the audit of the financial statements Our objectives are to obtain reasonab￿ assurance aboLrt whether the finanaal ststements a$ a whole are free from material misstatement, whether due to fraud or error. and to issue an Audrf(ols report that indudes OUT opinion. Reasonable a55uran¢e is a high level of assurance. but is not a guarantee that an audrt conducted in accordance with ISAS IUKI wll ahvay5 detect 3 material misslaternent vthen f( exists. Mi5stslements can arise from frBud or error and are considered material if, indiwdually or in the aggregate, they could reasonably be expected to influence the economiG deusions of user5 taken on the basis of these finanryal statements. Irregularities. including fraud, are instsnce5 of non-compliance with laws and regulations. We design procedures in line with our responsI￿.11t1es. outlined above, to detect material misstatements in re5ped of irregularities, including fraud. The extent lo whith our procedure5 a￿ ¢apable of deteth.ng irregularities, induding fraud is detailed below.. Our approach lo identrfwng and assessing the risks of material mt55tstement in respect of irregularities, including fraud and non ¢ompliance vAth law5 and regulatsons, was a5 folSows." . the engagement partner ensured th* the engagement team collectNely had the appropriate competence, Capabilrties and skills to idenb.fy or recognise non Complian￿ applicable lavts and ￿gUlatiOnS.. we identified the laws and regulations applicable to the Group an¢J parent charitable company through discussions wth trustees, directors and other management and review of appropriate industy kno￿edge,. ' we assessed the extent of compliance wth the laws and wulations identrfied above through making enquiries of management,. and identified laws and regulations were communi￿ted within the audit team regularly and the team remained alert to instances of non ¢ompliance throughout the audit. We assessed the susceptibility of the Group and the parent charitable company finanrial Statements to material misststement, induding obtaining an understanding of howfraud might occur. by." making enquiries of management as lo where they considered there vras susCepti￿.1Ity to fraud, their kno￿edge of actual, suspected and alleged fraud.. and ' considering the intemal contro15 in place to mitigate risks of fraud and non compliance wth laws and gulations. Page 13 EUREKA! THE NATIONAL CHILDREN'S MUSEUM {A companylsmited by guarants¢) INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EUREKA! THE NATIONAL CHILDREN'S MUSEUM ICONTINUEDI Auditorfs responsibiliti0$ for the audit of the financial $tstements (continued) To address the risk of fraud thrwgh management bias and override of corrtrols. we.. ' perfomied analyb'f21 procedures as a risk a55e5sment tool to identsfy any unusual or unexpected relationship3,' • tested journal entries to identify unusual transactions- . Assessed vthether judgements and assumpbons made in determining the a¢¢ounting estimates set out in Note 2.18 were indicative of potential bias. In response to the risk of iTTegulartb"es and non compliance laws and regulations, we designed procedures which induded, but were not limited lo.. ' agreeing financial statement disdosures to underlyng SUpp￿ting documentsb"on', and ' enquiring of management as lo actual and potential litigation and daims. Due to the inherent limitations of an audit, there is an unavoidable risk that we may not have detected some material misstatements in the finanaal statements. even though we have properfy planned and perfomed our audit in accordance wth auditing stsndaids. For example, as wth any audiL there remained a higher risk of ntsn dete¢bon of i￿egUlarities. a5 these may invoEve collusion. forgery, intentional omissions, misrepresentations, or the override of internal controls. We are not iesponsible for preventing fraud or non compliance laws and Tegulations and Gannot be expected to detect all fraud and non compliance with laws and regulations. A further description of our responsibilities for the audrt of the financial statements is located on the Financial Reporty'n9 Council's websrte at". vhvw.frc.o .uklauditorsres on5ibiliiies. This description forms part of our Auditorfs repo Use of our report This report is Tnade solely lo the charitable companys mernbeTS, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been vndertaken $0 that we might state to the charitable company's members those matters y￿ are required to stste to them in an Auditor's report and for no other purp(>se. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitsble company and its mernber5. as a body. for our audrt Y￿rk. for this report, or for the opinions we have formed. Karen Rae Isenior ststutory auditor} Amistrong Watson Audit Limited Chartered Accountants and Statutory Auditors Leeds nAtp' i .T Page 14 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA ClKnpany limited by guarantsel CONSOUDATED STATEMENT OF FINANCIAL ACTMTIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 DECEM8ER 2024 Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Total funds 2023 Note Income from: Donations and legacies Charitable activities Income from other trading acb"wb"es". Commercial trading activibes Investments 43.523 516,605 2,623.766 560,128 2,623,766 771,099 2, 749, 796 1.885.858 80.090 1.885.858 80.090 1,747,282 84,511 Total income 43.S23 5.106,319 5.149.842 5.352,688 Exptnditure on: Commeraal trading activthes Charitable a¢tivities 1.503.147 4.473,307 1.503,147 5,317.834 1,234, 188 5,263,5d7 844.5ZI Total expnditure 844,527 5,976,454 6.820,981 6,497, 735 Net expendllurn ￿fOre taxation Taxation- Museum & Gallery Exhibitions Tax relief 1801,0041 1870.135) 11.671.139) (1, 145,047) 57,986 57,986 102,092 1801,0041 1812.1491 11.613,1531 (1,042,955) Not movement in funds Reconcillation of funds: Total funds brought fOr￿ard Net movement in funds 12.225.602 (801.0041 4.273.S43 16,499,145 17,542, 100 (812,1491 11,613.153) (1,042,955J 11,424.S98 3.461.394 14,885.992 16,499. 145 Totsl funds carried forward The Consolidated statement of finanriBI activrties indudes all gains and105ses ￿CogniSed in the year. The notes on pages 19 to 39 fomi part of these financial statement5. Page 15 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantÈÈl REGISTERED NUMBER: 1948578 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets 13,S11.036 13,986, 126 13.511,036 13,986, 126 Current assets Slo¢ks Debtors Cash al bank and in hand 13 67.769 418.108 1,S18.638 62,382 428,951 2,596,958 14 2.0114.515 3.088,291 Creditors.. amounts falling due vthin one year 15 1629,5591 (575,272) Net current assets 1,374.9S6 2,513,019 Total assets l•$$ ¢urrent liabilities 14.885.992 16,499, 145 Totsl net assets 14,885.992 16,499, 145 Charityfunds Restricted funds 18 18 11.424.598 3.461.394 12.225,602 4,273,543 Unrestricted fvnds Total fund$ 14,885.992 16,499, 145 The Trustees acknowjedge their responsibil￿"eS for complwng vth the requirements of the Act wth respect lo accounting records and preparation of financial slatemenls. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by". on Ms J Ri¢È£owen Trustee Mr J T Sutcliffe Trustee Thp nntps on pages 19 to 39 form part of these financi81 statements. Page 16 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA Gompany limitsd by guarantee) REGISTERED NUMBER: 1948S78 COMPANY BALANCE SHEET AS AT 31 DECEMBER 2024 2024 2023 Note Fixed assets Tangible assets Investment5 13,S11.036 13,986, 126 12 13.511,038 13,986, 128 Currènt assets Debtors 14 407.786 1.264.658 646,415 2.228,437 Cash al bank and in hand 1.672,444 2,874.852 Creditots.. amounts falling due Y￿thin one year 15 1546.4411 (484,612) Net current assèts 1.126,003 2,390,240 Total assets less current Ilabiliti8s 14,637.041 16,376,368 Total net •ssèts 14.637.041 16,376,368 Charlty funds Restricted fund5 Unrestricted fvnds 11,424.598 3.212.443 12,225,602 4, 150, 766 Total funds 14.637,041 16,376,368 The Trustees aCknO￿edge their ￿spOnsIbl1￿.es for complwng vnth U)e requirements of the Act wth respect lo accounting records artd p￿paratiOn of finanrial Statements. The financial statements 21 >J2- approved and authorised for issue by the Trustees and signed on their behalf by.. on Ms J Rice-Bowon Trustee Mr J T Sutcliffo Trustee The notes on pages 19 10 39 fomi part of these financial ststements. Page 17 EUREKAI THE NATIONAL CHILDREN'S MUSEUM (A company limited by guarantee) CONSOLIDATED STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 Cash 110￿ from opernting activities Nel cash provided in operatsng acts"vitses {note 21) 1650.7941 (224,295) Cash flows from investing activitles Dividends, interests and rents from investments (note 51 Purchase of tangible fixed assets (note 11) 80.090 1507.6161 84,511 (596.263? Net cash used in investing activlties {427.5261 (511.752) chan￿ In cash and cash equivalents in the year Cash and cash equivalents at the beginning of the year 11.078,3201 2.S96,958 1736,0471 3.333,005 Cash and cash equival¢nts at the end of the year (nots 22} 1.518.638 2,596,958 The notes on pages 19 10 39 form part of these financial statements Page 18 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 General irrfomiation Eureka! The Nation￿ Children's Museum 15 a charitable Company limrted by guarantee and registered in England and Wales. The registered address is Eurekal The National Children's Museum, Discovery Road. Halifax. West Yorkshire. HX1 2NE. The ftjnctioning and presentstional currency is Slerting (£). Accountlng policies 2.1 Basis of preparation of financial 5tstem¢nts The financial statements have been prepared in accordance wth the Charrties SORP IFRS 1021- Accounts'ng and Repo￿n9 by Charities." Stslement of Recommended Practice applicable to charities preparing their accounts in accordance wth the FÉnanual Reporb"ng Standard applicable in the UK and Republi¢ of Ireland {FRS 1021 (effective 1 January 20191, the Finanual Reporting Standard applicable in the UK and Republic of I￿land IFRS 1021 and the Companies Act 2006. Eurekal The Nab"onal Children's Museum meets the definthon of a public benefft entity under FRS 102. Assets and liabilities are inrtialty re¢ognised at historical Cost or transaction value unless othe￿lISe 5tsted in the relevant accounting policy. The Consolidaled statement of ffinanaal acttwb"e5 (SOFA) and Consolidated balance sheet consolidate the finanual statements of the Company and its subsidiary undertaking. The results of the subsidiary a￿ consolidated on a line by line basis. The Company has taken advantsge of the exemption allowed under section 408 of the Companies Act 2006 and ha5 not presented ils ovm Stalement of finanual act￿￿"e5 in these financ¢al stslements. No separate SOFA has been presented for the ¢ompany alone as pemiitted by sectson 408 of the Companies Act 2006. The lunctional and Presentstional currency of the charrtable company is 5terfing (£1. 2.2 Company status The company is a company limrted by guarantee. The members of the company are the Trustees named on page 1 In the event of the company bw.ng wound up, the liabilty in respect of the guarantee is limited to £1 per member of the company. The trustees are directors for the PUTpose5 of the Companies Act 20CK8. At 31 Oecember 2024 there Y￿￿ eight membeT512023.' ten mernber51. Page 19 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Accounting polici¢$ l¢ontinuedl 2.3 Going ¢oncem The principal financial risk faung the ¢harity is its ability lo generate sufficient income from visitor numbers and external funding to cover expendrture incurred in fulfilling the objectives of the charity. The Trustees have ￿vieWed the cash position of the chanty and cash forecasts at the date of signing the accounts and a￿ sab"5fied that the charty wll be able lo meet all the financial commitments for the foreseeable future and for a period of at least 12 months from the date of signing. In reaching their conclusion. the Trustees have Considered cash Ilows covering 8 period of 12 months from the date of sign off. and the availability of fvnding both extemally and Intemalty. They have also considered future strategic and operational objecb.ves for the ensuing 12 months and have considereJ)ibition Publicity 9n.4 1.369.814 205,214 492.1n 1.234.326 1698,988 490.536 343.289 1203,639 423,431 628,645 2,489.707 2,047.920 668.574 Charitable Activtties 5 2(6 201 Expenditure on governance 57,346 3 114199 2 724 073 6.497,735 Total 21r23 2,743,610 970.412 2,783,713 6,497,735 Support costs 2024 2023 Governance Auditorfs remuneration Legal and professional 31.030 30.339 28,482 28,884 61.369 57,366 Page 28 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarnnts•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Not IncomellExpenditure) This 15 Stated after charging.. 2024 2023 Fee5 payable to the auditor for the audrt ofthe Companls annual a￿lunt5 Fee$ payable to the audrtor in respect of fees in relation to.. Corporation tsx Depreciation of tangible assets ovmed by the group 25,355 24,000 5.675 982,708 4,882 970,413 10. Staff costs Group 2024 Group 2023 Company 2024 Company 2023 Wages an%Y salarTres Social security costs Contribution to defined contribution pension schemes 2.827.804 202.688 2,497,700 171.496 1289.018 180.164 2,027, 146 154,041 83.706 74.414 78,335 70, 133 3,114.198 2,743.610 2,S47,517 2,251.320 The average number of persons employed by the Group and Company during the year was as f￿lOW5.. Group 2024 Mo. Gn)up 2023 No. Company 2024 No. Company 2023 No. Museum Cafe 110 40 117 110 165 150 110 The average headcount expressed as a fvll time equivalent was 83 in the current and 80 in the previoLbS year. Page 29 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 10. Staff costs {continuedl Ms L-A Slradeski. a Trustee, received remunerats.on of £131.622 in the year 12023 £122,695) in her capacity as Chief Executive. Pension conth"bub"orTs of 10% of salary V•Ere paid12023.' 10%). None of the other Trustees received remunerats.on during the year. Five other employees received remuneration amounting to more than £60,000 in the Current accounting year. These 3 employees received remuneratj.on between £60,000 and £70,000 and 2 employee5 received betsveen £70.000 and £80.000 and they all receive pension contribLrtions of 5% of salary. . Costs incurred in relation to key management personnel were £139,939 in total {2023.' £130,762) and this was in relation to one person in the cajirent and previous year. T￿￿tees. rnmunèrntson and expenses No Trustee remunerabon was paid during the year other than the remuneration paid to the Chief Execub"ve noted above. The charity purGhased insurance £1,480 12023." £1,564) to prote¢t against loss arising from neglect or default of its trustees and office￿. No expenses (2023". £Nil) were reimbursed to any trustees. 11. Tangible fixed assets Group Long-temi leasehold Fixtures and property fitting5 Exhibition equipment Total Cost or valuation At 1 January 2024 Additions 13,612.237 223.071 1.373.705 58.828 8.553,593 23,539,535 225,719 507,618 At 31 De¢ember 2024 13.835.308 1.432.533 8.779.312 24.047,153 Deprèclation At 1 January 2024 Charge for the year 4.568,990 300,113 791,607 192,059 {192.812 490.536 9.S53,409 982,708 At 31 December 2024 4.869.103 983,666 4.683,348 10,S36,117 Nèt book value At Jl December 2v24 8,YfjS.205 448,867 4.095,964 13,511,036 At 31 De￿mber 2023 9.043.247 582,098 4,360.781 13,985, 126 Page 30 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 11. Tangibl• fixed assets (continued) Company Long-tsrni leasehold Fixtuves and property fittings Exhibition equipment Total Cost or valuation At 1 January 2024 Additions 13.612.237 223.071 1.343.090 58,828 8,553.593 225.719 23.508.920 507,618 At 31 December 2024 13.835.308 1.401.918 8.779.312 24.016,538 Depreciation Al 1 January 2024 Charge for the year 4.S68,990 300.113 760,992 192,059 4.192.812 490,536 9,522.794 982.708 Al 31 December 2024 4.869.103 953.051 4,683,348 10,505.502 Nat book value Al 31 December 2024 8,966.205 448.867 4.095.964 13,S11,036 At 31 December 2023 9,043,247 582,098 4,360. 781 13,986, 126 12. Fixéd asset investments Investments in 5ub5idiary ¢ompanies Company Cost or valuation At 1 January 2024 At 31 Decembef 2024 Net book valu• At 31 December 2024 At 31 December 2023 Page 31 EUREKAT THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FINANCIAL STATEIIENTS FOR THE YEAR ENDED 31 DECEAIBER 2024 13. Stocks Group 2024 Gmup 2023 Shop goods for resale Catering goods for resaje 47,203 20,566 51,031 11,351 67,769 62,382 14. D¢bto Group 2024 Group 2023 Company 2024 Company 2023 Due within one year Trade debtors Amounts owed by group undertakings Prepayments and accrued income 13.973 9,706 7.331 4,367 225,526 416,522 404.135 419,245 400,455 418.108 428,951 407,786 646,415 15. Creditors: Amounts tslling due withln one year Group 2024 Group 2023 Company 2024 Company 2023 Trade creditors Amounts owed lo group undertakings Other taxation and social security Other creditors A¢¢wals and deferred income 184.443 172,330 1SS,918 33,551 48,946 18,012 290,014 146, 185 113.698 18.012 313.406 91,968 16,473 294.501 72,694 16,473 249,260 629.559 575,272 $46,441 484.612 Page 32 EUREKA! THE NATIONAL CHILDREN'S MUSEUM IA company lifftited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 16. Dèferred income Group 2024 G￿up 2023 Company 2024 Company 2023 Dèferred income Deferred income al 1 January 2024 Resources deferred during the year Amounts released from prevrous penods 73,958 74.920 (73.9S8) 54.932 73,958 (54,932) 64,860 72.417 164.860) 45,667 64,860 145,66TJ Deferred incomo at 31 December 2024 74,920 73,958 72,417 64.860 This balance is induded wthin accruals and defeTred income ￿thIn creditors due within one year. 17. Flnancial instruments Group 2024 2023 Company 2024 Con7pany 2023 Financral assèts Financial asseis measu￿￿ at fair value through income and expenditure 1,532.611 2,606,664 1.271.989 2,232,805 Group 2024 Group 2023 Company 2024 Company 2023 Financial liabilities Financial liabilities measured at amortised Cost 536.114 484,716 422,462 403.279 Financial assets measured at fair value through income and expendiiure comprises trade debtors, other debtors and c35h in hand. Financial liabilities measured at amortised cost comprises trade Credrtors. taxation and social security, accruals. Page 33 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarantee) NOTES TO THE FIMANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Ststement of funds Statement of funds - current year Balance at 31 Oe¢ember 2024 Balance at I January 2024 Tr•nsfevs inlout Income Expenditure Taxation Unre$tri¢ted fund$ Designated funds 1.120 11,1201 244,OS8 Spark Fund Fixed asset fund Maintenance & development fund 2.039,158 1150,819) 2.132,397 (242,938) 917.418 1.251.961 191,605) 3,291,119 1.120 (242.424) 3,049,815 General funds General Funds 411.579 982,424 5,105.199 15,734,030) 57.986 Total Unrestrictsd funds 3,461.394 4.273,543 5,106,319 {5.976,454) 57.986 Restricted funds All About Me 1855 Station Building Project Gift in kind for exhibitions Eurekal Science Discovery 1.770,239 1,841.002 170.763) 2,000 2.500 15001 4.870 9,418,216 Centre Town Deal Gallery Development Other restricted fijnds 10,163.203 1749.857) 113.523) 13,S23 14,8701 154,606 159.476 {9.884) 79.S37 30,OIX) 11,424,598 12,225.602 43.523 1844,527) Total of funds 16,499.145 5.149,842 16,820.981) 57,986 14,885,992 Page 34 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company Ilmtted by guarantee) NOTES TO THE FINANCIAL STATEPAENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Statement of funds {¢onttnuedl 18. The fixed asset fund has been set up to a$si5t in identify.ng those fvnds that a￿ not free funds and rt represents the net book value of tangible fixed assets ftjnded from urlresthcted funds, ￿th the exception of fixed assets held in subsidiary companies. The maintenance & development fund has been designated by the trustees for refvrbishment and repairs to the museum assets. The strategic fijture fvnds has been designated by the tnjstees lo ensure that in the unlikety event that the organisab.orr decided lo cease trading an ordety winding down of operations could be facilitated. The Eurekal Mersey restn'cted funds balance represents grants and donab.ons received for the purpose of develoyng Eureka! Science + Discovery at Seacombe. The balances on the All Abwt Me, 1855 Ststion Building Proiect. YorkshiTr Forward and gifts in k.nd for exhibib.on funds a￿ ￿presented by the purchase of tangible fixed assets, less associated depreciation charge¥. Statemènt ol fvnds - prioryear Balan￿ at l January 2023 Balan￿ al 31 Decembei 2023 Income EKpendKure TaxatA) Transfers in/out Unrostricted fund$ Designated fund5 Spark Fund Fixed asset fund Maintenance & developn7ent fund 26,666 2.026,887 3,512 (30, 178) 164, 743 (152.472) 2,039, 158 1.539,344 (52.818J (Z34.565J 1,251.961 3,592,897 3,512 {205,290) (100,000) General funds General Fund8- all ftsnds 3,291, 119 990.908 5. 137,544 Total Unrestrietsd fund3 (5,348. 120) 102,092 too.000 982,t124 4,583.805 5.141,056 (5,553.4fO) 102,092 4,273,543 Page 35 EUREKA! THE NATIONAL CHILDREN'S MUSEUM (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 18. Ststement of funds (contlnuedl Restricted fvnds - prior year All About Me (fomerly Me 1855 Stslion Building Project Gift in kind for exhibitions OtheT reslricted fvnds Eurekal Mersey Town Deal Gallery Development {605) (226,020) 226,625 1,841,002 1,911.765 (ro,763) (5CX)) 59,420 66,544 10, 163.204 74,183 10,727.968 14.754 (14.7631 1731,3081 (126,386) 100.C 111.632 159,476 159,476 12,225.602 12,958,295 211,632 1944,3251 Totsl of fvnds 17,542.100 5.352,688 {6.497. 735} 102,092 76,499, 745 19. Summary of funds Summary of fuDd5- current year Balance at 31 Docember 2024 Balance at I January 2024 Transfers inlout TaxatiOII Income Expenditufe Designated funds 3,291.119 General funds 982,424 Restricted bJnds 12.225,602 3,049.815 411,S79 11.424,598 1,120 5.105.199 43,523 (242.424) (S,734.030) 1844,527) 57.986 16.499.145 5,149,842 16,820,981) 57,986 14,885,992 Page 36 EUREKAI THE NATIONAL CHILDREN'S MUSEUM (A c(xnpany limited by guarnntse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Summary of funds Icontinued Summary of funds- prior year 19. Balance at 1 January 2023 Balance at 31 December 2023 Incon7e Expenditure Transfe in/oul Taxat￿￿ Designated funds General funds Restricted funds 3.592,897 990.908 12.958.295 3,512 (205,290) 5. 13T,544 (5,348. 120) 211,632 (944.325) ftoo,000) 3,291, 719 100,000 982,424 12,225,602 102.092 17,542.700 5,352.688 (6.497. 735) 102.092 16,499, 145 20. Anaty$is of net assets l*t¥*en funds Analysi$ of net assets bèt*wn funds - Current yèar Restricted Unrestricted funds funds 2024 2024 Total funds 2024 Tangible fixed assets Cu￿ent assets Creditors due ￿thin one year 11,378.639 125,579 (79,6201 2.132,397 13,511,036 1.878,936 2.004.515 1549,9391 1629,5591 Total 11.424,598 3,461,394 14,885.992 Analysi$ of nét assets funds - prior year Restrided un￿strIcted funds funds 2023 2023 Totsl runds 2023 Tangible fixed assets Current assets Creditors due WTthin one year 11.998,127 227,475 1,987,999 13,986, 126 2.860,818 3,088,293 1575,274) (575,274J Total 12,225.602 4.273.543 16,499, 145 Page 37 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guaranteè) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 21. Re¢on¢iliation of net movemont in funds to net cash Ilowfrom opernting activities Group 2024 Group 2023 Net expenditu￿ for the period (as per Statement of Firhancial A￿"￿ties} (1,613,153) (7,042.9551 Adjustmènts for.. Depreciation charges Dividends, interests and rents from in¥estrnents Ilncreaselldecrease in stocks {IncTease)Idecrease in debtors IncreaselldecTea5e) in c￿d￿0T5 982.707 180.0901 15.3861 10,846 54.282 970,413 (84.511) (25,537) 255,655 1297,366) {224,295) Net cash US￿ in opernting activiti•S 1650,7941 22. Analysis of cash and cash equivalents Group 2024 Group 2023 831,741 686,897 2,088.357 508,607 Cash in hand Notice deposits (less than 6 months) 1,518,638 2,596.958 Total cash and cash equivalents 23. Anatysis of changes in net debt At1 January 2024 Cash flov At31 D¢cember 2024 1,S18,638 Cash and cash equivalents 2,596.958 {1.078.320} 2.S96,958 11,078.320} 1,518,638 24. Pension commitments The group make contributions to the pef5Vt)al pension plans of varitsus employees. These schemes are gf the defined contribution type. The toial pension cosi for the group during the year was £83,iUti 12023. £74.4141. At the year enil, outstsnding contn"butions to the plans amounted to £17.82212023". £16,473). Page 38 EUREKAI THE NATIONAL CHILDREN'S MUSEUM IA company limited by guarante•) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 25. Operating lease commitsnents Al 31 December 2024 the Group and the Company had commrtments lo make future minimum lease payments under non-cancellable operating leases as follows.. Group 2024 Group 2023 Company 2024 Company 2023 Not later than 1 year Later than 1 year and not later than 5 years Later than S years 42.168 150.363 1.172.SOO 31.942 156,056 1.207,5th9 42,168 150.363 1.172.500 31,942 756,056 1,207.500 1.365.031 1,395,498 1,365.031 1,395,498 The group vra rts subsidiary company, 1855 Station Building ￿Mited is also a lessor and had the follo￿Trg lease payments under non-cancellable operating leases as follows.. At 31 December 2024, the wnpany was due £Nil (2023.. £4.617) and £Nil {2023." £Nill of these balances are due wthin one year. 26. Related party bznsactions Eurekal The National Children's Museurn has Or￿ subsidrary, 1855 Ststion Building Limited. The trading results of this subsidiary are summarised tn note 28 to the accounts. Al 31 Oecember 2024, Eurekal The National Children's Museum owed £33,551 to 1855 Stab'on Building Limtted 12023." £225,526 credilorl. Eurekal The National child￿n'S Museum has made management re-charges of £361.611 (2023.. £373.4731 to 1855 Station Building Limited. 27. Principal subsidiari•s The followng was a subsidiary undertakj.ng of the Company.. Name Company ftumbÈr Holding Includod in consolidation 1855 Statron 8uilding Limrted 03613193 The financial resutts of the subsi(Jiary for the year were". Name l(Kt% Yes Income Expenditure ProfftllLoss1 Net a5Séts I Surplusl Illlabllitiesl {Deficitl for the year 1855 Station Building Limited 1.88S.858 1.620.596 26S.262 248,954 Page 39