OpenCharities

This text was generated using OCR and may contain errors. Check the original PDF to see the document submitted to the regulator.

2025-03-31-accounts

THE FOOD MUSEUM

CONSOLIDATED FINANCIAL STATEMENTS AND ANNUAL REPORT FOR THE YEAR ENDED 31 MARCH 2025

Registered Charity No: 293033 Registered Company No: 01819676 (England and Wales)

THE FOOD MUSEUM

CONTENTS

CONTENTS
Page No
Legal and Administrative Details 1
Chair's Foreword 2
Trustees' Report 3 - 7
Independent Auditors' Report 8 - 11
Consolidated Statement of Financial Activities 12 - 13
Balance Sheets 14 - 15
Consolidated Cashflow Statement 16
Notes to the Consolidated Accounts 17 - 35

THE FOOD MUSEUM

LEGAL AND ADMINISTRATIVE DETAILS

----- Start of picture text -----
Trustees Mr R Lister (Chair)
Ms V M Trevelyan (Vice-Chair)
Ms A C Harrison (Treasurer)
Dr C K Barlow
Mr J H Brighton
Mr A R T Butler-Zagni
Ms J H Cousins
Mr S K Hooton
Mr J M Pattle
Mr W Seaman
Ms M Strauss
Secretary Ms A C Harrison
Museum Director Ms J H Cousins
Key Management Personnel Ms J H Cousins
Ms S Prince (Deputy Director)
Charity Number 293033
Company Number 01819676
Registered office Museum Offices
Stowmarket
Suffolk
IP14 1DL
Independent Auditors Azets Audit Services
First Floor, River House
1 Maidstone Road
Sidcup
DA14 5RH
Bankers Barclays Bank Plc
Stowmarket
Suffolk
IP14 1DL
Starling Bank
5th Floor
London Fruit and Wool Exchange
1 Duval Square
London
E1 6PW
Solicitors Birketts LLP
Providence House
141-145 Princes Street
Ipswich
IP1 1QJ
----- End of picture text -----

THE FOOD MUSEUM

CHAIRMAN'S STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

The Chairman presents their statement for the year.

.

The Year 2024–2025 was a year of continued steady progress for the Food Museum. We have made much headway in reshaping the museum towards the end point of our exciting plans in 2030. Considerable change has been effected so far: indeed an inventory of physical change across the site in the last few years has reminded us all of the transformation that we have already seen at the museum. There has been a programme of improvement and upgrading of facilities which continues into the coming year. Selecting just two examples from all the work this year: the Collections Store and the Fishing Lodge.

The year 2024-25 was simultaneously exciting, positive and very successful while occasionally slightly frustrating. The ambitious and transformational plans we have are on track – considerably helped by the recent award of £3.9m from The National Lottery Heritage Fund and £1m from Mid Suffolk District Council – and will help make the Food Museum one of the most innovative in the country and a major regional destination.

A new home for the museum collections is being built. Our collection has been moved to temporary accommodation to facilitate this. This massive undertaking has been a smooth process with many willing hands. As a result the collection – the heart of the museum – is better known and understood, better catalogued and will be properly preserved for future generations.

There is not space to do justice to the quality of our exhibitions and outreach work and the improvement to the quality of the offer to our visitors. Like the physical improvements to the site, each year sees steady improvements to the scale and range of the visitor experience with further exciting plans ahead.

While all museums and charities are under financial pressure at the moment the Food Museum has a stable financial base and is steadily growing. Much of this stability and the overall success of the organisation is down to its dedicated staff and volunteers. The staff base is not large but it is very ably led and managed, and staff members are passionate about the museum and always willing to go over and above what is expected of them.

The museum could not exist and prosper without our funders and the Board is very grateful to them all, in particular thanks to our main funders – Arts Council England, Mid Suffolk District Council and the National Lottery Heritage Fund – for their ongoing investment in the future of this exciting organisation – and to The Linbury Trust and The Headley Trust for their support of our core learning and collections activity.

I would also like to thank my brilliant fellow trustees for their support and advice. It is a pleasure to be part of such a strong and cohesive Board of Trustees.

Mr R Lister Chair Date: 21 November 2025

THE FOOD MUSEUM

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The Trustees present herewith their report and the consolidated financial statements for the year ended 31 March 2025. The Trustees have adopted the provisions of the Statement of Recommended Practice (SORP) “Accounting and Reporting by Charities” (FRS 102) in preparing the annual report and financial statements of the charity.

. The consolidated financial statements have been prepared in accordance with the accounting policies set out in notes to the accounts and comply with the charity’s governing document, the Charities Act 2011 and Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland published in October 2019.

Objectives and activities

As set out the Museum’s governing document, the principle charitable objective is to advance the education of the public in the area of East Anglia in its social, cultural, industrial and technological heritage, as well as on health and wellbeing and nature and the environment, by the provision of a Museum that connects the people with where food comes from and the impact of our food choices: past, present and future.

Activities, mission and values

The Food Museum is the largest independent museum in Suffolk, caring for over 40,000 objects, including 17 historic buildings set in 84 acres of countryside. The museum is a charity supporting the community and we undertake a wide range of projects and programmes. The Food Museum’s mission is to connect people with where our food comes from and the impact of our choices on the environment, health and wellbeing. We explore the social, cultural and industrial history, present and future of food.

We aim to enrich people’s lives, encouraging enjoyment, learning and participation through our public programme, training and volunteering schemes. We hold events throughout the year, family activities during the holidays, programmes for schools and community-focused initiatives. We are a space for people to be active, learn new things, look at the world differently, make friends and give something back.

Our values – we are:

3 Sustainable

Public benefit statement

In planning future activity and in reviewing the charity’s aims and objectives, the Charity Commission’s general guidance on public benefit is considered. The charity’s activities clearly relate to its legal objective of advancing the education of the public.

Strategic Report

Key achievements in 2024-25 include:

THE FOOD MUSEUM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Strategic Report (continued)

Financial review

The museum is independent. We have to generate our own income through grants, admissions, memberships and income generation (shop, café, rents and events). The museum is a National Portfolio Organisation (NPO). We receive financial support from Arts Council England (ACE) to maintain and develop our work to engage audiences with high-quality culture and heritage. NPO status lasts for between 3-5 years and the funding has been confirmed up until 2026, with two further extension years likely, depending on the government’s spending review. The museum also has a multi-year funding agreement in place with Mid Suffolk District Council as a strategic partner, which will last until 2028. We work with trusts and foundations that share our ambition to deliver projects which reach and deliver effectively for people and communities.

Cash balances and reserves remain acceptable, with core funding being paid in stages throughout the year.

Income for the year amounted to £2,062,815 (2024: £1,739,192). The surplus related to grants received for capital projects which are ongoing.

Expenditure for the year amounted to £1,681,730 (2024: £1,245,389)

THE FOOD MUSEUM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Investment policy

It is the policy of the Trustees to use any surplus funds for the advancement of the charity’s objectives. This has been achieved by the addition of land, buildings and exhibits which the charity includes within fixed assets except for a number of exhibits for which it is not practical to obtain a valuation.

Reserves policy

The Food Museum seeks to hold, as a minimum, the equivalent of two months of unrestricted expenditure in reserve. This currently equates to £125,000 (2024: £125,000). This figure is reviewed every January. The museum should seek to retain a minimum of £125,000 in reserves. We will work towards six months of reserves. Other reserves are maintained for specific restricted or designated projects of the charity and are set out in the notes to the financial statements. We aim to continue to build reserves to ensure sufficient funds to cover management, administration, support costs and to respond to emergencies. Our unrestricted reserves as of 31 March 2025 were £277,019 (2024: £123,524).

Restricted funds at 31 March 2025 amounted to £484,952 (2024: £153,887). Further information can be found in note 20 to the financial statements.

Designated funds at 31 March 2025 amounted to £3,438,360 (2024: £3,483,482). Further information can be found in note 21 to the financial statements.

Going Concern

The Trustees are of the opinion that The Food Museum is a Going Concern as at 31 March 2025.

The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Group's and the Charity's ability to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements.

In arriving at this conclusion, the Trustees have taken account of current and anticipated financial performance in the current economic conditions, its Corporate Plan, and its reserves position. For this reason, the going concern basis continues to be adopted in the preparation of these financial statements.

Principal risks and uncertainties

The Directors and Trustees continue to review the major strategic, business and operational risks which the charity faces using an established system for ongoing assessment which is reviewed at each board meeting. Identified risks are mitigated where possible.

Financial sustainability has been identified as an ongoing risk. A key element of managing this risk is the regular review of available liquid funds to enable the settlement of debts as they fall due, management of trade debtor and creditor balances and liaison with core funders. The Board continues to monitor costs and look for innovative ways to increase its income in order to achieve a positive year-end position. The Board is aware in the present economic climate, that this will continue to be a challenging task, especially in the light of Suffolk County Council’s decision to end all strategic funding to arts and heritage organisations, which ended a 60-year relationship with the museum in 2024-5.

Non-financial risks arising from fire, health and safety of staff and volunteers, the public and visitors to the Museum are also considered. These risks are managed by ensuring accreditation is up-to-date, robust policies and procedures are in place and staff are offered appropriate training.

Plans for the future

In 2025-6 we will complete the MEND project, which will reclad and extend our Collections Store and upgrade facilities for our staff and volunteers. We will move back into the store over winter and reorganise our working spaces to deliver greater efficiency and better collections care.

We were awarded a grant from The National Lottery Heritage Fund for The Kitchen Project in June 2025. The project will enable the museum to realise its ambitions for audience, programme and collections development up to 2031.

We will begin the delivery phase of The Kitchen Project in September 2025. Between 2025 and 2030, £5.7 million investment in the museum will create new permanent galleries, restore historic buildings, and deliver exhibitions and activities to grow our audiences and diversify the museum’s offer.

We seek to grow the museum’s audiences and offer in order to deliver our educational mission. Beautiful and colourful, functional and creative, magical and informative: we want a visit to the Food Museum to be welcoming, memorable and inclusive. We are creating a high-quality, interactive, immersive and fun visitor experience which engages all the senses and challenges visitors to learn and think about food.

THE FOOD MUSEUM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Plans for the future (continued)

To learn more about the future plans of the museum, please see our Vision 2023-2030 document. This is available on our website (https://foodmuseum.org.uk/wp-content/uploads/2023/11/2023-Food-Museum-Vision-digital-version.pdf).

Fundraising

The Food Museum does not employ any external professional fundraisers to fundraise on our behalf. All staff members and any volunteers, including Trustees, involved in fundraising activities are trained in accordance with recognised standards to ensure that the public, including vulnerable people, are protected from unreasonable or intrusive approaches. We have not received any complaints about our fundraising activities and we are GDPR compliant.

Structure, governance and management

The Food Museum Ltd is a Company Limited by Guarantee with charitable status. The company was established under a Memorandum of Association, which set out the objects and powers of the company, and is governed by its Articles of Association, filed with Companies House, and last revised in October 2023.

The museum has a wholly owned subsidiary, the Stowmarket Museum Trading Company Limited, known as the Trading Company, which manages the museum’s trading activities (retail, café, weddings).

The affairs of the museum are controlled by the Board of Trustees which meets quarterly. Observers from Suffolk County Council (SCC), Mid Suffolk District Council (MSDC), Stowmarket Town Council (STC) and invited members of the museum staff attend these meetings. An AGM is held in October each year.

The Trustees, who are also the directors for the purpose of company law, and who served during the year were:

----- Start of picture text -----
||| |---|---| |Mr R Lister (Chair)|Ms J H Cousins| |Ms V M Trevelyan (Vice-Chair)|Mr S K Hooton| |Ms A C Harrison (Treasurer and Secretary)|Mr N C B Macpherson (resigned 18 October 2024)| |Dr C K Barlow|Mr J M Pattle| |Mr J H Brighton|Mr W Seaman| |Mr A R T Butler-Zagni|Ms M Strauss|

----- End of picture text -----

Committee structure, induction and training

Trustees receive an induction and can access training through sector support organisations, such as the Association for Independent Museums and the Association for Cultural Enterprises.

The Board of Trustees appoints committees to help it to discharge its responsibilities. The membership of these committees varies but each is chaired by a nominated trustee or officer. These include a Health & Safety committee which meets quarterly to review the museum’s operations and incidents, a Finance committee, which scrutinises the annual account and a HR & Remuneration committee which looks at how we invest in our people and benchmarks our approach against the sector.

There is also a Development Board with a membership of trustees and external advocates which exists to fundraise in support of the delivery of the vision. It has no governance responsibility.

The museum’s trustees provide strategic direction and support. The day-to-day running of the museum is the responsibility of the museum’s Director, supported by the Deputy Director and a Management Team.

Pay policy for key management personnel

The Trustees consider the senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Trust on a day-to-day basis. All Trustees give of their time freely and no trustee received remuneration in the year for undertaking the Company duties. Appropriate annual pay increase for all staff, including the senior staff is decided by the Board of Trustees.

THE FOOD MUSEUM

TRUSTEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025

Funds held as Custodian Trustees on behalf of others

The Museum holds and administers a small fund (<£5,000) on behalf of Women Cultural Leaders East, a professional development network for female leaders in the East of England.

Trustees responsibilities

The Trustees are responsible for preparing the Trustees’ Report and the financial statements in accordance with applicable law and regulations. Company law requires the Trustees to prepare financial statements for each financial year in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards) and applicable law.

Under company law the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the charitable company and of its net incoming or outgoing resources for that period. In preparing these financial statements, the Trustees are required to:

The Trustees are responsible for keeping proper accounting records that are sufficient to show and explain the charitable company’s transactions and disclose with reasonable accuracy at any time the financial position of the charitable company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charitable company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The Trustees give strategic direction to the Trust and ensure that:

Disclosure of information to auditors

Insofar as each of the Trustees of the company at the date of approval of this report is aware, there is no relevant audit information (information needed by the company’s auditor in connection with preparing the audit report) of which the company’s auditor is unaware. Each Trustee has taken all of the steps that he/she should have taken as a Trustee in order to make himself/herself aware of any relevant audit information and to establish that the company’s auditor is aware of that information.

By Order of the Board of Trustees Date: 21 November 2025

Ms A C Harrison Company Secretary

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE FOOD MUSEUM FOR THE YEAR ENDED 31 MARCH 2025

Qualified opinion

We have audited the financial statements of The Food Museum (the parent charitable company) and its subsidiary (the group) for the year ended 31 March 2025 which comprise the Consolidated Statement of Financial Activities, the Consolidated Balance Sheet, the Charitable Company Balance Sheet, the Consolidated Cash Flow Statement and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor’s responsibilities for the audit of the financial statements section of our report. We are independent of the group and charitable company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our qualified opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the Trustees’ use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the Trustees with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the Trustees Annual Report, other than the financial statements and our auditor’s report thereon. The Trustees are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE FOOD MUSEUM FOR THE YEAR ENDED 31 MARCH 2025

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and charitable company and its environment obtained in the course of the audit, we have not identified material misstatements in the strategic report and the directors’ report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you, in our opinion:

Responsibilities of trustees

As explained more fully in the Trustees’ responsibilities statement set out on page 8, the Trustees (who are also the directors of the charitable company for the purposes of company law) are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the Trustees determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the trustees are responsible for assessing the group's and charitable company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the trustees either intend to liquidate the group or charitable company or to cease operations, or have no realistic alternative but to do so.

Auditor’s responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Extent to which the audit was considered capable of detecting irregularities, including fraud

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above and on the Financial Reporting Council’s website, to detect material misstatements in respect of irregularities, including fraud.

We obtain and update our understanding of the entity, its activities, its control environment, and likely future developments, including in relation to the legal and regulatory framework applicable and how the entity is complying with that framework. Based on this understanding, we identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. This includes consideration of the risk of acts by the entity that were contrary to applicable laws and regulations, including fraud.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE FOOD MUSEUM FOR THE YEAR ENDED 31 MARCH 2025

Extent to which the audit was considered capable of detecting irregularities, including fraud In response to the risk of irregularities and non-compliance with laws and regulations, including fraud, we designed procedures which included:

Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.

As part of an audit in accordance with ISAs (UK), we exercise professional judgment and maintain professional scepticism throughout the audit. We also:

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF THE FOOD MUSEUM FOR THE YEAR ENDED 31 MARCH 2025

Use of our report

This report is made solely to the charitable company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the charitable company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the charitable company and the charitable company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

Michelle Wilkes FCA (Senior Statutory Auditor) for and on behalf of Azets Audit Services Statutory Auditor Date: 24 November 2025

First Floor, River House 1 Maidstone Road Sidcup Kent DA14 5RH

THE FOOD MUSEUM

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2025

Note
Income from:
Donations
2
Admissions
Membership
Grants
3
Other trading activities
4
Investment income
Income from investments
5
Other
6
Total Income
Expenditure on:
Raising funds
7
Charitable activities
7
Total expenditure
7
Transfers between funds
20
Reconciliation of funds:
28
Fund balances at 31 March 2025
22
Fund balances at 1 April 2024 as restated
Net movement in funds
Charitable activities
Net income/(expenditure) before transfers		 Unrestricted
Restricted
2025
Funds
Funds
Total
£
£
£
45,718
-
45,718
81,336
-
81,336
16,654
-
16,654
488,486
1,015,308
1,503,794
351,417
-
351,417
7,201
-
7,201
56,695
-
56,695
1,047,507
1,015,308
2,062,815
359,430
-
359,430
602,057
720,243
1,322,300
961,487
720,243
1,681,730
86,020
295,065
381,085
-
-
-
86,020
295,065
381,085
3,668,058
189,887
3,857,945
3,754,078
484,952
4,239,030		 2024
Total
£
as restated
22,195
83,445
16,915
1,281,883
308,530
5,798
20,426
1,739,192
303,664
941,725
1,245,389
493,803
-
493,803
3,364,142
3,857,945

All transactions are derived from continuing activities. All recognised gains and losses are included in the Statement of Financial Activities.

THE FOOD MUSEUM

CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES (INCORPORATING INCOME AND EXPENDITURE ACCOUNT) FOR THE YEAR ENDED 31 MARCH 2024

Comparative information only

Note
Income from:
Donations
2
Admissions
Membership
Grants
3
Other trading activities
4
Investment income
Income from investments
5
Other
6
Total Income
Expenditure on:
Raising funds
7
Charitable activities
7
Total expenditure
7
Transfers between funds
20
Reconciliation of funds:
28
27
Net movement in funds
Fund balances at 1 April 2023 - as restated
Charitable activities
Net income/(expenditure) before transfers
Fund balances at 31 March 2024		 Unrestricted
Restricted
2024
Funds
Funds
Total
£
£
£
as restated
22,195
-
22,195
83,445
-
83,445
16,915
-
16,915
509,091
772,792
1,281,883
308,530
-
308,530
5,798
-
5,798
20,426
-
20,426
966,400
772,792
1,739,192
303,664
-
303,664
721,068
220,657
941,725
1,024,732
220,657
1,245,389
(58,332)
552,135
493,803
2,917,993
(2,917,993)
-
2,859,661
(2,365,858)
493,803
808,397
2,555,745
3,364,142
3,668,058
189,887
3,857,945

All transactions are derived from continuing activities.

All recognised gains and losses are included in the Statement of Financial Activities.

THE FOOD MUSEUM

CONSOLIDATED BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
13
Heritage assets
14
Current assets
Stock
16
Debtors
17
Cash at bank and in hand
18
Net current assets
Net funds
Funds
Restricted funds
20
21
Other charitable funds
Non-charitable funds
15
22
Designated funds
Unrestricted funds:
Creditors: amounts falling due within
one year		 £
£
2,871,786
593,356
3,465,142
15,116
244,621
592,943
852,680
(78,792)
773,888
4,239,030
484,952
3,438,360
277,019
38,699
4,239,030
2025		 £
£
2,914,154
600,869
3,515,023
15,125
487,318
136,424
638,868
(295,946)
342,922
3,857,945
189,887
3,483,482
123,524
61,052
3,857,945
2024
as restated

The accounts were approved by the Board on 21 November 2025

Mr R Lister Ms A C Harrison Trustee Trustee Company Number: 01819676

THE FOOD MUSEUM

CHARITY BALANCE SHEET AS AT 31 MARCH 2025

Note
Fixed assets
Tangible assets
13
Heritage assets
14
Investments
15
Current assets
Debtors
17
Cash at bank and in hand
18
Net current assets
Net funds
Funds
Restricted funds
20
21
Other charitable funds
22
Creditors: amounts falling due within
one year
Unrestricted funds:
Designated funds:		 £
£
2,845,004
593,356
100
3,438,460
238,958
576,690
815,648
(53,777)
761,871
4,200,331
484,952
3,438,360
277,019
4,200,331
2025		 £
£
2,882,613
600,869
100
3,483,582
489,402
85,754
575,156
(261,845)
313,311
3,796,893
189,887
3,483,482
123,524
3,796,893
2024
as restated

The accounts were approved by the Board on 21 November 2025

Mr R Lister Ms A C Harrison Trustee Trustee Company Number: 01819676

THE FOOD MUSEUM

CONSOLIDATED CASH FLOW STATEMENT FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
Note 2025 2024
£ £
Net cash flow from operating activities 23 590,091 527,014
Cash flow from investing activities
Payments to acquire tangible fixed assets (140,773) (570,535)
Interest and investment income received 7,201 5,798
Net cash flow from investing activities (133,572) (564,737)
Net decrease in cash and cash equivalents 456,519 (37,723)
Cash and cash equivalents at 1 April 2024 136,424 174,147
Cash and cash equivalents at 31 March 2025 592,943 136,424
Cash and cash equivalents consists of:
Cash at bank and in hand 592,943 136,424
Cash and cash equivalents at 31 March 2025 592,943 136,424
----- End of picture text -----

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies

(a) Basis of accounting

The Food Museum is a registered charitable company in the United Kingdom. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member of the charity. The address of the registered office is given in the charity information on page 1 of these financial statements. The Food Museum’s mission is to connect people with where their food comes from and the impact of our choices on the environment, health and wellbeing. We explore the social, cultural and industrial history, present and future of food.

The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have been prepared in accordance with Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland issued in October 2019, the Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice.

The financial statements are prepared on a going concern basis under the historical cost convention, modified to include certain items at fair value. The financial statements are prepared in sterling which is the functional currency of the charity.

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

(b) Consolidation

In the opinion of the Board of Trustees, the charitable company and its subsidiary undertaking comprise a small group.

The consolidated financial statements incorporate the results of the charity and its trading subsidiary, Stowmarket Museum Trading Company Limited, for the year ended 31 March 2025. As a consolidated Statement of Financial Activities is published, a separate Statement of Financial Activities for the parent company is omitted from the group statements by virtue of Section 408 of the Companies Act 2006.

(c) Fund accounting

Unrestricted general funds are funds which can be used in accordance with the charitable objects at the discretion of the trustees.

Restricted funds are funds that can only be used for particular restricted purposes within the objects of the charitable company. Restriction arises when specified by the donor or when funds are raised for particular restricted purposes.

Designated funds represent funds invested in fixed assets. The designated fund balance has been represented to ensure that the fund balance accurately reflects the designation policy adopted by the trustees.

(d) Income recognition

All income is included in the Statement of Financial Activities (SoFA) when the charity is legally entitled to the income after any performance conditions have been met, the amount can be measured reliably and it is probable that the income will be received.

Voluntary income, including donations and gifts that provide core funding or are of a general nature, is recognised where there is entitlement, certainty of receipt and the amount can be measured with sufficient reliability.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(d) Income recognition

Grants are included in the Consolidated Statement of Financial Activities on a receivable basis. The balance of income recerived for specific purposes but not expended during the period is shown in the relevant funds on the Balance Sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is

Admissions income is recognised at the point of sale.

Membership income is recognised at the point of sale.

Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable.

Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service

Investment income includes dividends, interest and rent. Interest income is recognised using the effective interest method and dividend and rent income is recognised as the charity’s right to receive payment is established.

Museum and Galleries Tax Relief is recognised in the year in which the claim relates.

(e) Expenditure recognition

All expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all costs related to the category. Expenditure is recognised where there is a legal or constructive obligation to make payments to third parties, it is probable that the settlement will be required and the amount of the obligation can be measured reliably. It is categorised under the following headings:

• Expenditure on raising funds includes all expenditure incurred by the group to raise funds for its charitable purposes and includes costs of all fundraising activities, events and non-charitable trading.

• Expenditure on charitable activities comprises those costs incurred by the Museum in the delivery of its activities and services for beneficiaries. It includes both costs allocated directly to such activities and those costs of an indirect nature necessary to support them.

Irrecoverable VAT is charged as an expense against the activity for which expenditure arose.

(f) Support costs allocation

Support costs are those that assist the work of the charity but do not directly represent charitable activities and include office costs, governance costs, administrative payroll costs. They are incurred directly in support of expenditure on the objects of the charity and include project management. Where support costs cannot be directly attributed to particular headings they have been allocated to cost of raising funds and expenditure on charitable activities on a basis consistent with use of the resources. Other costs have been allocated on the basis of staff time spent.

The analysis of these costs is included in note 8.

(g) Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less accumulated depreciation and any recognised impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. Assets costing £500 or more are capitalised as tangible fixed assets and are carried at cost, net of depreciation and any provision for impairment.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(g) Tangible fixed assets and depreciation (continued)

Depreciation is provided on all tangible assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life, as follows:

Leasehold land Not depreciated Long term leasehold property 2- 20% straight line Assets under construction Not depreciated Plant and machinery 7 - 15% straight line IT equipment 15 - 33% straight line

(h) Exhibits

Exhibits loaned to the Museum are not capitalised nor have those donated in the past and they are excluded from the financial statements. The exception to this relates to the donation of the Steam Collection that is included in the balance sheet at insurers valuation that is regarded as the best estimate of initial recognition of the deemed cost to the donor. The current policy however is to capitalise significant assets in the balance sheet at deemed cost except in rare situations where there is insufficient information to arrive at a reasonable valuation of the cost of obtaining such information would exceed the benefit of obtaining the data. The amounts shown in the balance sheet for exhibits included in heritage assets represents the cost of items and artefacts purchased together with any restoration costs.

(h) Heritage assets

Heritage assets are recognised on the balance sheet and initially measured at cost when purchased or if donated, their valuation. Assets are subsequently stated at cost or valuation less accumulated depreciation and accumulated impairment losses. Fair values for donated assets are estimated by reference to market prices.

Where information on the cost or valuation of heritage assets is not available or the cost of providing such information significantly outweighs any benefit to the users of the accounts then heritage assets are not recognised on the balance sheet.

The Museum's collection comprises more than 40,000 items, almost all of which were obtained under donation. The care and preservation of these assets is managed by the Collections Manager under the supervision of the Museum Director and in accordance with the criteria governing the Museum's accreditation. From time to time items are considered no longer suitable for retention. No item is disposed of without the prior sanction of the Board of Directors. Where appropriate, items will be transferred to another museum which is considered to be better able to use them. The nature and provenance of the majority of items in the collection renders it impractiable to obtain or make a reliable valuation, and in consequence these items are omitted from inclusion in the financial statements. The Museum possesses a collection of steam engines which is of particular historic and scientific value. The valuation was made internally utilising data derived from the company insurer. As a consequence of the programmed maintenance of these assets it is considered that they have indefinite lives and no depreciation is provided. The valuation is regarded as the deemed cost of the steam collection at initial recognition of these assets when they were donated.

Assets with a definite life are written off over a period of 3-25 years.

Loaned exhibits are depreciated over the term of the loan agreement, but are subject to impairment reviews should the condition of assets indicate that it is inappropriate to do so.

Other exhibits where they are determined to have an indefinite life are not depreciated but are subject to impairment reviews should the condition of assets indicate that it is inappropriate to do so.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

1 Accounting policies (continued)

(i) Fixed asset investments

Investment in the subsidiary are measured at cost less impairment.

(j) Stocks

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving stocks.

(k) Debtors and creditors receivable / payable within one year Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

(l) Employee benefits

The Group operates a defined contribution pension scheme and the pension charge represents the amounts payable by the Group to the fund in respect of the year.

(m) Tax

The charity is an exempt charity within the meaning of schedule 3 of the Charities Act 2011 and is considered to pass the tests set out in Paragraph 1 Schedule 6 Finance Act 2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.

(n) Judgements and key sources of estimation uncertainty

Accounting estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Foundation makes estimates and assumptions concerning the future. The resulting accounting estimates and assumptions will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

Key estimates

Useful economic lives of tangible assets

The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful economic lives and residual values of the assets. The useful economic lives and residual values are reassessed annually. They are amended when necessary to reflect current estimates, based on technological advancement, future investments, economic utilisation and the physical condition of the assets. See note 11 for the carrying amount of the fixtures and fittings and motor vehicles, and note 1(g) for the useful economic lives for each class of assets.

Valuation of heritage assets

Heritage assets include the cost of artefacts and historical buildings re-erected. Many of the exhibits have been donated over several decades and it is difficult to value at point of donation in order to establish deemed costs. The cost therefore, substantially relates to the reconstruction of buildings and structures on site and to their refurbishment. The steam engine collection is valued at insurance valuation that is used as an estimate of deemed cost at the point of recognition of the assets when the donation was made.

(o) Going concern

The financial statements have been drawn up on a going concern basis.

The Trustees confirm that at the time of approving the financial statements, there are no material uncertainties regarding the Group's and the Charity's ability to continue in operational existence for the foreseeable future, being at least 12 months from the date of approval of these financial statements.

In arriving at this conclusion, the Trustees have taken account of current and anticipated financial performance in the current economic conditions, its Corporate Plan, and its reserves position. For this reason, the going concern basis continues to be adopted in the preparation of these financial statements.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
2 DONATIONS AND GRANTS funds 2025 2024
£ £ £
Donations 45,718 22,195
45,718 22,195
3 CHARITABLE ACTIVITIES
GRANTS
Operation of the museum
Arts Council England (NPO) 358,218 358,218
-
Arts Council England (Hedgerow Grant) 10,000
Arts Council England (MEND) 563,840 281,920
DCMS/Wolfson Museums & Galleries Improvement Fund - paid via Historic
-
England 89,600
-
Esmee Fairbairn Collections Fund (Rethinking the Rural Life Museum) 38,500
Headley Trust (Rethinking the Rural Life Museum) 20,000 20,000
Linbury Trust 36,000 36,000
Mid Suffolk District Council 20,000 20,000
Mid Suffolk District Council / Association of Suffolk Museums (HAF/Thrills and
-
Grills) 6,890
-
Mid Suffolk District Council (Changing Places) 45,000
-
Mid-Suffolk District Council (Fishing Lodge/Bridge to the Future) 10,000
National Lottery Heritage Fund (The Kitchen Project) 214,088 23,119
NHS Partnership 30,000 30,000
Stowmarket Town Council 5,210 5,000
Suffolk County Council 102,510 102,510
-
Suffolk County Council (Skills Kitchen) 24,950
-
Suffolk County Council (The Kitchen Project) 38,000
Suffolk County Council & Mid Suffolk District Council (Jubilant!) 6,610 8,918
-
Suffolk Growth (Fishing Lodge/Bridge to the Future) 18,000
Suffolk Growth (MEND) 62,377 84,536
-
The Foyle Foundation (MEND) 40,000
-
UEA Quadram Institute (The Kitchen Project) 15,288
Other restricted donations and gifts 29,653 30,722
1,503,794 1,281,883
----- End of picture text -----

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
4 OTHER TRADING ACTIVITIES 2025 2024
£ £
Learning income 23,265 14,622
Fundraising events 124,923 138,303
Collections income 1,275 2,026
Café, shop and catering income 201,954 153,579
351,417 308,530
5 INCOME FROM INVESTMENTS 2025 2024
£ £
Interest receivable 1 1
Property rental income 7,200 5,797
7,201 5,798
6 OTHER INCOME 2025 2024
£ £
Other income 4,163 5,226
-
Sponsorship 11,042
MGETR tax relief 41,490 15,200
56,695 20,426
7 EXPENDITURE Staff Costs Direct costs Support costs Total Total
2025 2024
£ £ £ £ £
Costs of raising funds
Trading subsidiary 200,821 132,654 25,955 359,430 303,664
Charitable activities
Operation of the Museum 442,780 88,083 348,489 879,352 788,149
-
Projects 127,993 314,955 442,948 153,576
570,773 403,038 348,489 1,322,300 941,725
Total expenditure 771,594 535,692 374,444 1,681,730 1,245,389
----- End of picture text -----

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

8
SUPPORT COSTS
Staff training
Education
Repairs and maintenance
Cleaning
Rates and water
Light and heat
Insurance
Marketing, stationery, Web and IT costs
Travel and subsistence
Professional and consultancy fees
Bank charges
Depreciation
Impairment
General office expenses
Governance
9
GOVERNANCE COSTS
Auditors' remuneration
Accountancy services - subsidiaries
10
NET MOVEMENT IN FUNDS
This is stated after charging
Depreciation of tangible fixed assets
Impairment of heritage assets
Auditors' remuneration (including subsidiary)
Auditors remuneration - non audit services		 Museum
Trading
Total
2025
Total
2024
£
£
£
£
1,805
-
1,805
2,334
10,058
-
10,058
6,457
7,359
-
7,359
7,213
6,088
-
6,088
4,634
8,749
-
8,749
8,169
31,965
-
31,965
32,940
32,929
-
32,929
23,536
20,687
-
20,687
19,531
1,520
-
1,520
2,581
10,364
-
10,364
4,883
(183)
8,647
8,464
7,599
173,548
8,626
182,174
159,489
7,313
-
7,313
7,514
13,887
6,463
20,350
14,907
22,398
2,219
24,617
20,036
348,487
25,955
374,442
321,823
2025
2024
£
£
22,400
19,038
2,219
1,000
24,619
20,038
2025
2024
£
£
182,174
159,489
7,313
7,514
22,400
19,038
2,750 -

11 TRUSTEES' REMUNERATION AND REIMBURSED EXPENSES

The Board of Trustees appointed the Museum Director, Jenny Cousins, as a trustee and company director, in accordance with clause 13 (c) of the Food Museum’s Articles of Association. She received a salary of £54,767 (2024: £54,767).

None of the other Trustees (or any persons connected with them) received remuneration during the year. One trustee was reimbursed expenses relating to training courses, accomodation and estates expenditure totalling £1,028 (2024: £1,086 - 1 trustee relating to travel expenses).

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

12
EMPLOYEES
Employment costs
Wages and salary costs
Social Security costs
Pension costs - defined contribution
Number of employees
The number of employees, by headcount, during the year was:
Management and administration
Governance
Service and operation - Full time
Service and operation - Part time
Contract staff		 2025
2024
£
£
714,467
639,198
44,246
40,686
12,881
12,220
771,594
692,104
2025
2024
Number
Number
6
7
1
1
9
8
14
21
15
10
45
47

No employees earned more than £60,000 in the year (2024: None)

The senior management team comprise the key management personnel of the charity in charge of directing and controlling, running and operating the Museum on a day to day basis and are detailed on page 1. The aggregate remuneration paid to the key management personnel totalled £97,709 (2024: £65,342).

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

13
TANGIBLE ASSETS
Group
Cost / deemed cost
As at 1 April 2024
Additions
Disposals
At 31 March 2025
Depreciation
As at 1 April 2024
Charge for year
On disposals
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024
Charity
Cost / deemed cost
As at 1 April 2024
Additions
At 31 March 2025
Depreciation
As at 1 April 2024
Charge for year
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024
Included in land and buildings is		 Long-term
leasehold
property
Assets under
construction
Plant and
machinery
Computer
equipment
Total
£
£
£
£
£
2,452,776
535,549
715,013
110,121
3,813,459
-
109,956
28,362
2,455
140,773
-
-
(1,558)
-
(1,558)
2,452,776
645,505
741,817
112,576
3,952,674
503,792
-
311,232
84,284
899,308
58,664
-
104,332
19,178
182,174
-
-
(594)
-
(594)
562,456
-
414,970
103,462
1,080,888
1,890,320
645,505
326,847
9,114
2,871,786
1,948,984
535,549
403,781
25,837
2,914,151
Long-term
leasehold
property
Assets under
construction
Plant and
machinery
Computer
equipment
Total
£
£
£
£
£
2,452,776
535,549
678,012
109,161
3,775,498
-
109,956
23,530
2,455
135,941
2,452,776
645,505
701,542
111,616
3,911,439
503,792
-
305,211
83,884
892,887
58,664
-
96,186
18,698
173,548
562,456
-
401,397
102,582
1,066,435
1,890,320
645,505
300,145
9,034
2,845,004
1,948,984
535,549
372,801
25,277
2,882,611
freehold land at a value of £546,411.

Included in land and buildings is freehold land at a value of £546,411.

Taxation

Abbots Hall and adjoining land is secured by a legal charge in favour of The Trustees of the National Heritage Memorial Fund and The Arts Council of England.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

14
HERITAGE ASSETS
Group and Company
Cost / deemed cost
As at 1 April 2024
Disposals
At 31 March 2025
Impairment
As at 1 April 2024
Charge for year
On disposals
At 31 March 2025
Net book values
At 31 March 2025
At 31 March 2024		 Steam Engines
Heritage
buildings
Exhibits
Artefacts
Total
£
£
£
£
176,000
397,415
217,979
791,394
-
-
(164,029)
(164,029)
176,000
397,415
53,950
627,365
-
15,529
174,996
190,525
-
1,147
6,166
7,313
-
(163,829)
(163,829)
-
16,676
17,333
34,009
176,000
380,739
36,617
593,356
176,000
381,886
42,983
600,869

The Steam Engine collection is valued at insurance valuation that is used as an estimate of deemed cost at the point of recognition of the assets when the donation was made. The ownership of a further steam engine that was on loan was transferred to the Museum by order of the Secretary of State at a value provided in earlier years.

Heritage buildings include the cost of historical buildings re-erected. The cost therefore, substantially relates to the reconstruction of buildings and structures on site and to their refurbishment.

Exhibits include the cost of artefacts as well as the estimated cost of assets on loan from their owners. Many of the exhibits have been donated over several decades and it is difficult to value at point of donation in order to establish deemed costs.

Loaned exhibits are depreciated over the term of the loan agreement, but are subject to impairment reviews should the condition of assets indicate that it is inappropriate to do so.

Other exhibits where they are determined to have an indefinite life are not depreciated but are subject to impairment reviews should the condition of assets indicate that it is inappropriate to do so.

A purpose built structure used to house the steam engine collection is depreciated, along with some sculptures, over their useful economic lives.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

----- Start of picture text -----
|||| |---|---|---| |15|FIXED ASSET INVESTMENTS|Shares in| |subsidiary| |undertaking|Total| |Group|£|£| |-|-| |Market value at 1 April 2024 and at 31 March 2025| |Historical cost:| |At 31 March 2025|-|-| |At 31 March 2024|-|-| |Charity|£|£| |Market value at 1 April 2024 and at 31 March 2025|100|100| |Historical cost:| |At 31 March 2025|100|100| |At 31 March 2024|100|100|

----- End of picture text -----

Shares in subsidiary undertakings

100% of 100 share capital of £1 each in Stowmarket Museum Trading Company Limited

Holdings of more than 20%

The charity holds more than 20% of the share capital of the following company:

----- Start of picture text -----
||||| |---|---|---|---| |Proportion of voting rights| |Country of registration or|and ordinary share capital|Principal| |Subsidiary undertaking|incorporation|held|activity| |Stowmarket Museum Trading|England and Wales|100%|Operation of| |Company Limited|the shop, cafe| |and events at| |the Museum|

----- End of picture text -----

Taxation

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE FOOD MUSEUM

15 FIXED ASSET INVESTMENTS

The principal activity of Stowmarket Museum Trading Company Limited is the operation of the shop, cafe and events at the Museum. The investment is measured at cost less impairment on the basis that they represent shares in entities that are not publicly traded and the fair value cannot otherwise be measured reliably.

The trading results of Stowmarket Museum Trading Company Limited for the year ended 31 March 2025 are as follows:

Turnover
Cost of sales
Administration costs
Other operating income
Operating surplus for the year
Distributions to parent charity under gift aid
Retained surplus/(deficit) for the year
The assets and liabilities of the subsidiary at 31 March 2025 were:
Fixed assets
Current assets
Current liabilities
Aggregate share capital and reserves
Share capital
Profit and loss reserve		 2025
2024
£
£
As restated
371,376
326,882
(174,153)
(149,531)
(226,776)
(191,633)
7,200
5,797
(22,353)
(8,485)
-
9,981
(22,353)
1,496
26,782
31,540
45,837
74,431
(33,820)
(44,819)
38,799
61,152
100
100
38,699
61,052
38,799
61,152

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

16
STOCKS
Finished goods
17
DEBTORS
Trade debtors
Other debtors
Prepayments and accrued income
18
Trade creditors
Taxes and social security costs
Other creditors
Accruals and deferred income
As at 1 April 2024
Amounts released from previous periods
Amounts deferred from this period
As at 31 March 2025
CREDITORS: AMOUNTS FALLING DUE
WITHIN ONE YEAR
DEFERRED INCOME		 2025
2024
2025
2024
£
£
£
£
15,116
15,125
-
-
2025
2024
2025
2024
£
£
£
£
167,031
405,740
161,368
409,280
36,100
81,578
36,100
80,122
41,490
-
41,490
-
244,621
487,318
238,958
489,402
2025
2024
2025
2024
£
£
£
£
15,536
33,742
12,078
29,907
14,591
13,498
10,311
10,326
28,664
31,679
12,386
5,584
20,001
217,027
19,001
216,027
78,792
295,946
53,777
261,844
2025
2024
2025
2024
£
£
£
£
142,510
-
142,510
-
(142,510)
-
(142,510)
-
-
142,510
-
142,510
-
142,510
-
142,510
Group
as restated
Charity
Charity
Charity
Group
Charity
Group
Group

Deferred income relates to grants received in advance that can only be spent in a specific time period.

19 COMPANY STATUS

The charity is a company limited by guarantee. In the event of a winding-up the liability of each member will not exceed £1.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

20 RESTRICTED FUNDS

The income funds of the charity include restricted funds comprising the following unexpended balances held on trust for specific purposes:

CURRENT YEAR
Steam engine fund
Linbury Trust
Curious Minds
Rethinking the Rural Life Museum
The Kitchen Project
Net Zero grant
Jubilant 2024
Jubilant 2025
Fishing Lodge bridge project
Skills Kitchen
MEND
Library fund
Suffolk Horse Society
Social Prescribing/Green Therapy
Locality Fund
Sustainable Communities Food fund
Stowmarket Culture Group
COMPARATIVE YEAR
Premises development fund
Heritage Farm project
Steam engine collection
Steam engine fund
Social Prescribing/Green Therapy
Bone Building/Hedgerow
Linbury Trust
Curious Minds
SHARE East large objects grant
Jubilant 2023
Rethinking the Rural Life Museum
The Kitchen Project
Net Zero grant
Jubilant 2024
Fishing Lodge bridge project
Skills Kitchen
MEND
Library fund		 Balance at 1
April 2024
Income
Expenditure
Transfers
between
funds
Balance at 31
March 2025
£
£
£
£
£
14,922
-
(275)
-
14,647
36,000
36,000
(36,000)
-
36,000
-
10,000
(10,000)
-
-
42,671
20,000
(62,671)
-
-
34,833
229,376
(257,483)
-
6,726
1,405
-
(1,405)
-
-
8,918
2,000
(8,108)
(2,810)
-
-
7,110
(1,030)
2,810
8,890
3,786
-
(3,786)
-
-
8,766
-
(8,766)
-
-
38,378
666,217
(286,224)
-
418,371
208
200
(90)
-
318
-
300
(300)
-
-
-
30,000
(30,000)
-
-
-
4,485
(4,485)
-
-
-
4,620
(4,620)
-
-
-
5,000
(5,000)
-
-
189,887
1,015,308
(720,243)
-
484,952
Balance at 1
April 2023
Income
Expenditure
Transfers
between
funds
Balance at 31
March 2024
£
£
£
£
£
1,798,022
-
-
(1,798,022)
-
444,596
-
-
(444,596)
-
176,000
-
-
(176,000)
-
15,248
-
(326)
-
14,922
10,000
30,000
(40,000)
-
-
5,791
10,000
(15,791)
-
-
36,000
36,000
(36,000)
-
36,000
10,000
-
(10,000)
-
-
2,359
-
(2,359)
-
-
19,500
-
(19,500)
-
-
38,229
58,500
(54,058)
-
42,671
-
61,119
(26,286)
-
34,833
-
1,405
-
-
1,405
-
8,918
-
-
8,918
-
130,271
-
(126,485)
3,786
-
24,950
(16,184)
-
8,766
-
411,456
-
(373,078)
38,378
-
173
(153)
188
208
2,555,745
772,792
(220,657)
(2,917,993)
189,887

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE FOOD MUSEUM

20 RESTRICTED FUNDS

Steam engine fund Social Prescribing/Green Therapy Bone Building/Hedgerow

Linbury Trust Curious Minds Rethinking the Rural Life Museum The Kitchen Project

SHARE East Net Zero grant Jubilant! 2023 & 2024 & 2025

Fishing Lodge bridge project Skills Kitchen MEND Library fund Suffolk Horse Society Stowmarket Culture Group

Sustainable Communities Food fund Locality Fund

Historic fund restricted to maintenance of the steam engines NHS-supported social prescribing through outdoor volunteering Refurbishment of the William Bone Building and delivery of Hedgerow exhibition

Supporting the learning and public programme Mental health and collections project Collections audit

Capital and activity project to improve the museum’s buildings, exhibitions and public offer Converting to electric estate maintenance tools Youth arts festival for Stowmarket schools, delivered by the Stowmarket Culture Group; Building a new bridge to open up the Grade II Fishing Lodge

Refugee and migrant support programme Major repair and infrastructure improvements To support buying books for the museum library A grant which is given to help support rare Suffolk Punch foals

Grant towards salary costs for Marketing Assistant on behalf of Stow Culture Group A grant for the purchase of tools A grant towards The Studio Refurbishment

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

THE FOOD MUSEUM

21 DESIGNATED FUNDS

The income funds of the group include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

GROUP - CURRENT YEAR
Tangible fixed assets fund
Heritage asset fund		 Balance at
1 April 2024
New
designations
Designations
released
Transfers/
Gains
Balance at 31
March 2025
£
£
£
£
£
2,882,613 -
(37,609)
-
2,845,004
600,869 -
(7,513)
-
593,356
3,483,482
-
(45,122)
-
3,438,360
GROUP - COMPARATIVE YEAR
Designated
Tangible fixed assets fund
Heritage asset fund		 Balance at
1 April 2023
New
designations
Designations
released
Transfers/
Gains
Balance at 31
March 2024
£
£
£
£
£
344,756 -
-
(344,756)
-
-
-
-
2,882,613
2,882,613
-
-
-
600,869
600,869
344,756
-
-
3,138,726
3,483,482
CHARITY - CURRENT YEAR
Tangible fixed assets fund
Heritage asset fund		 Balance at 1
April 2024
New
designations
Designations
released
Transfers/
Gains
Balance at 31
March 2025
£
£
£
£
£
2,882,613 -
(37,609) -
2,845,004
600,869 -
(7,513) -
593,356
3,483,482
-
(45,122)
-
3,438,360
CHARITY - COMPARATIVE YEAR
Designated
Tangible fixed assets fund
Heritage asset fund		 Balance at 1
April 2023
New
designations
Designations
released
Transfers/
Gains
Balance at 31
March 2024
£
£
£
£
£
344,756 -
-
(344,756)
-
-
-
-
2,882,613
2,882,613
-
-
-
600,869
600,869
344,756
-
-
3,138,726
3,483,482

Designated Tangible fixed assets fund Heritage asset fund

Transfers

Capital asset reserve fund to match against depreciation The fixed asset fund relates to assets held in fixed assets that are not available for charitable expenditure.

The heritage asset fund relates to assets held in fixed assets that are not available for charitable expenditure.

Transfers relate to a reappraisal of funds and the setting up of new fixed asset fund.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

22 ANALYSIS OF NET ASSETS BETWEEN FUNDS

GROUP
Tangible fixed assets
Heritage assets
Current assets
Tangible fixed assets
Heritage assets
Current assets
CHARITY
Tangible fixed assets
Heritage assets
Investments
Current assets
Tangible fixed assets
Heritage assets
Investments
Current assets
CURRENT YEAR
Fund balances at 31 March 2025 are represented by:
Creditors: amount falling due within one year
COMPARATIVE YEAR
Fund balances at 31 March 2024 are represented by:
Creditors: amount falling due within one year
COMPARATIVE YEAR
Fund balances at 31 March 2024 are represented by:
Creditors: amount falling due within one year
ANALYSIS OF NET ASSETS BETWEEN FUNDS
CURRENT YEAR
Fund balances at 31 March 2025 are represented by:
Creditors: amount falling due within one year		 Unrestricted
Designated
funds
funds
£
£
26,782 2,845,004
-
593,356
367,728 -
(78,792) -
315,718
3,438,360
Unrestricted
Designated
funds
funds
£
£
31,541
2,882,613
-
600,869
448,981
-
(295,946)
-
184,576
3,483,482
Unrestricted
Designated
funds
funds
£
£
- 2,845,004
- 593,356
100 -
330,696 -
(53,777) -
277,019
3,438,360
Unrestricted
Designated
funds
funds
£
£
-
2,882,613
-
600,869
100
-
385,269
-
(261,845)
-
123,524
3,483,482		 Restricted
Total
funds
£
£
-
2,871,786
-
593,356
484,952
852,680
-
(78,792)
484,952
4,239,030
Restricted
Total
funds
£
£
-
2,914,154
-
600,869
189,887
638,868
-
(295,946)
189,887
3,857,945
Restricted
Total
funds
£
£
- 2,845,004
- 593,356
- 100
484,952 815,648
- (53,777)
484,952
4,200,331
Restricted
Total
funds
£
£
- 2,882,613
- 600,869
- 100
189,887 575,156
- (261,845)
189,887
3,796,893

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025

23
RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING
Net income for year
Interest and investment income receivable
Impairment of heritage assets
Loss on disposal of fixed assets
Decrease in stock
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Depreciation of tangible fixed assets		 23
RECONCILIATION OF NET EXPENDITURE TO NET CASHFLOW FROM OPERATING
Net income for year
Interest and investment income receivable
Impairment of heritage assets
Loss on disposal of fixed assets
Decrease in stock
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Depreciation of tangible fixed assets		 ACTIVITIES
2025
2024
£
£
381,085
493,803
(7,201)
(5,798)
182,174
159,489
7,313
7,514
1,164
-
9
(4,865)
242,697
(384,978)
(217,150)
261,849
Net cash flow from operating activities 590,091
527,014
24
ANALYSIS OF CHANGES IN NET DEBT
Cash at bank and in hand		 At 1 April 2024
Cash flow
£
£
136,425
456,518		 Non-cash
changes
At 31 March
2025
£
£
-
592,943
136,425
456,518		 -
592,943

25 FUTURE COMMITMENTS

Operating leases

Total future minimum lease payments under
Group
Within one year
Between two and five years
In over five years		 non-cancellable operating leases are as follows:
2025
2024
£
£
20
20
80
40
1,960
1,980
Land and buildings		 2025
2024
£
£
2,280
2,280
2,186
4,466
-
-
Other
2,060
2,040		 4,466
6,746
Charity
Within one year
Between two and five years
In over five years		 2025
2024
£
£
20
20
40
40
1,960
1,980
Land and buildings		 2025
2024
£
£
2,280
2,280
2,186
4,466
-
-
Other
2,020
2,040		 4,466
6,746

26 RELATED PARTIES

No related parties transactions have been entered into during the year (2024: None).

27 CAPITAL COMMITMENTS

The charity had capital commitments at the year end as follows:
MEND project		 2025
2024
£
£
973,862
286,250
973,862
286,250

The MEND project is externally funded by Arts Council England.

THE FOOD MUSEUM

NOTES TO THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2024

28 PRIOR YEAR ADJUSTMENTS

Reconciliation of changes in equity
Adjustments to prior year
Adjustments to amounts due from subsidiary undertaking
Equity as previously reported
Equity as adjusted
Analysis of the effect upon equity
Reconciliation of chages in surplus/deficit for the previous financial period
Total adjustments
Surplus as previously reported
Surplus as adjusted		 01-Apr-23
31-Mar-24
£
£
(59,556)
-
3,364,142
3,856,449
3,304,586
3,856,449
2024
£
-
493,803
493,803

Notes to the reconciliation

Amounts due from subsidiary undertaking

During the year ended 31 March 2025, the trustees reviewed the balance showing as owed by its subsidiary undertaking. Upon investigation it was noted that an accounting adjustment in respect of gift aid distribution had been incorrectly accounted for along with other inter-company transactions that had been incorrectly recorded. This has resulted in a reduction in the amount owed by its subsidiary undertaking of £59,556.