REGlS'fERED COMPANY NUMRF.R.' 01964697 IEn£land atld Wales) RIIGISTERED CHARITY NUMBER: 293260 REPORT OF THE TRUSTEES AND UNAUDITED FINANCIAL STATF,MENTS FOR THE YEAR ENDED 31 DECEMBER 2024 FOR HAFTF.SIIURY ABBF.Y AND MUSEI UM PRESERVAI'IOIY TRUST COMPANY LIMITED Aiidrews and Paliner Ltd Chartered Accounrant 32 The SqiiaTe Cjillingham Dorset SP8 4AR SHAFfESBURY ABBEY AND MUSEUM PRESERVATION TRUST COMPANY LIMITED CONTENTS OF THE FINANCIAL STATF.MENTS FOR THE YEAR CI NDED 31 DECEMBER 2024 Page Report of the Trustees Independent F.%9niiner's Report Statement of Piiianci21 Activitie5 Statement of Financial P051tio Notes to the Finallcial Statements 10 to 19 SHAFTE.%BURY ABBF.Y AND MUSF.UM PREISII RVATION TRUST COMPANY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The tnjstees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial stateTnents of the charity for the year ended 31 December 2024. The trusiees have adopted ihe provisions of Accounting and Reporting by Charities.. Staieinent of Recoininended Practice applicable to charities preparing theii. accounts in accurdance with (he Financial Reportin¥ Standard applicable in the UK and Republic of Ireland IFRS 102) {effective I January 2019). The financial stateinent5 have been prepared in accordance with the accountino policies set out in the notes to the accounts and comply wilh the charity's governing docuinent, the Charities Act 201 l and Accounting and Reporting by Charities.. Stateinent of Recommended Practice applicable to charities preparing their accounts in accordance witli the Financial Reporting Standard applicable in the UK and Republic of Ireland publishcd on 16 July 2014 as iiEntnded by Update Bulletin I published on 2 February 2016. OBJECTIVES AND ACTIVITIES Objeetives and 21n15 The staled objeLlives of the charity. as documented in its memorandum and article% of association, are to preserve the ancient Teinaiiis known a5 Shaftesbury Abbey, lo maintain a museuin displaying finds froin the Abbey site, and to promote leaming about the Abbey, its people and its iinpact OTI sociely throughout its 650-year h￿Story. The museum also acts as an important local venue for arts and education within the community. Signifieant activities Norinally, the charity opens qhaftcsbury Abbcy Miiseuin and Garden to the public on a daily basis from l April to 31 October, and at several tiille.%, mainly weekends in other months of the year. In addition to opening the museum and gardens, the charity works witli local schools and offers research facilitie5 foT students of dll ages to promote leaming, particularly about the history and heritage of Shaftesbury Abbey and the influence of tlit woinen religiou5 who lived here. The charity has for Inany years also collaborated with local coinmunity oi'ganisations to act as a venue for events including the town's Snowdrop Festival, Food & Di'Enk Fcstival and Shaftesbury Fringe - a music and arts festival. Rec¢nt years have seen significant developments in the museum's digital activities.. over 20,700 wcbsite session visits were recorded in 2024 lapproxiniately doubling the over 10,400 such visits in 2023). along with growEh in the number of Facebook, YouTube and Iiisiagrain followe15. lil recowiitirjii of thc l Ooth annivei'sary in October 2024 of Shaftesbury Abbey Museiiin and Gardens becoining a Scheduled Monumeni, a digital project has been initiated to collate ' ion Meinories of Shaftesbury Abbey since Octobcr 1924 with plans for thein to becoine a digital tiine-capsule for future online v551tors and resear¢hers. Public benefit Tlie trustees confirin that thcy have Teferred to the (Tiiidance contained in the Charities Commission's general guidance on public benefii when reviewing the charity's aiins atid objectives and in the planiiing of ￿tUrC activities. The charity has offered free entry to all visitors since 2021; iii comparison to earlier yea15 wheii adnii5siun chartse5 applied annual visitor nunjbers have trebled to alinost 40,000 people in 2024 (over 35,800 in 2023) with a sig]iificant niiiiiber being 1)verseas toiii'ist5, circa IOQ/D being cliildren, and many UK-based visitors making repeat visiis. Page I SHAFTESBURY ABBEY AND MUSEUM PRESERVATION TRUST COMPANY LIMITED REPORT OF THF. TRUSTEES FOR THE YEAR ENDED 31 DECEMBEIR 2024 OBJECTIVES AND ACTIVITIES Voluntecr5 Volunteers pl&y a major role in preserving the Abbey site and keeping it open for visitors. About 50 regularly devote several hours per week during the open season welcoining visitors, answering questions about the Abbey and its people,2nd serving in the MuseuEn'S retail ai'eas. Sinaller teams of volunteers use their prior protessional experience and skills in the Archaeology Team, the Collections Teain, the Education Team and the Gardet]s Maintenance Teain, whilst some individual volunteeTS Proffer their Inuseiim Inanageinent, financial, maintenance and project management skills. The charity Inakes use of volunteei. ti'ainiHg PTogTainmes and events Inany of which are provided by the Dorset Museums Association oi. the South West Museums Development organisation. In all soine 75 voliinteers have a regular role at the Abbey, soine using their existing skills while others learn and develop new skills. ACHIEVEMEIYT AND PERFORMANCE Charitable J)etlVLties Tlie main charitable activities of preserving the ancient remains of Shiiftesbury Abbey and opening Shaftesbury Abbey Museuin & Gardens to the public were siipported during 2024 by ants of £1 0,000 in unrestricted funds (£5.000 in 2023) and £35,297 in restricted liinds (£5,650 in 20231. The activities iesulted in 39,495 Ineinbers of the public being welcomed to the Abbey in 2024 {35,806 ill 2023). A formal 'economic impact" exercise was LarrEed out in 2024 showing that activities at the Abbey generated Inore than six times our own incoine, ie. over £400,000 ol'bcnefit to the towTr. Many pre-pandeniic T£(Tular collaborative eveiits in Shaftesbury such as the Food&Drink 'Feastival and Shaftesbury Fringe Festival were once again held in 2024, attracting many visitors to the town and to the Abbey the Friiigc particiilarly successful for the Abbey iii 2024 with over 4,200 visitor5 during that weekend. The Abbey also continues to host Inany of our own 'special events, such as concerts, lectui'es, exhibitii)ns and open-air plays in the Abbey Gardeiis. School% throughout the UK were particularly badly £ifte¢ted by covid rests'ictions and Inany have found it difficuli to recover., however, 4 school and youtl) visit5 to Shaftesbury Abbey took place in 2024 (3 in 2023) and the Educdtion Team organised several outi'each and ehild-focussed events including a Saxon Day and new Children's Trail during 2024 in ol'der to maiiitain the interest of young people in the Abbey and its history. Page 2 SHAFfESBURY ABBEY AND MUSEUM PRESERVATION TRUST COMPANY LIMITED REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DF,CEMBER 2024 FINANC.IAL RF.VIEW Financial position Operalioiis The trustees confinned in 2024 their decision to make permanent the waiver of all adinissions charges (but continue to welcon)e any doi)ations fi'oin VISIEOI'S and siipportersl. Once atsain Ihis Yesulted in a significaiit iiiciease ill visitor i)uinbers conipared to the pi'ior year with concomiiant increases in retail sales, event incoine and donations (which also led to an increase in Gift Aid iiicoine). In 2024, the 39,495 visitors generated £2J,699 in donations. £6,740 events, and £30,204 in retail sales., a total visitor incoiM¢ value of £61,003 (the equivalent value of don&tion5, events and retail sales incoine froin the 35,806 VI￿ltOrS iiTr 2023 was £51,553). In 2024 the unrestricted Revenue Support Cirant from Dorset Council was increased to £10,000 per year (£5,000 per yeaT from 2021 to 2023). Additionally, the Abbey Museiim received a legacy of £5,000 and wa5 suc¢e%sful in applying to join HMRC'S VAT33 scheme which refunds eligible V A'l. payinents to Inuseuins which otTer free enty to the public togeiheT generating £6.543 in Sundry Incoine (with no equivalent income in 20231. Special Projects Two major restricted grant-funded projects were commenced during 2024.. thc 'Conservation and Display of the 15th century St Gregoi'y's Mass Sculpture" and a 'Garden5 linproveinent Project" Grants for the former project totalling £32,300 were received dui'inu 2024 dnd included ￿ndIng froin Arts Ci)uncil England, the Shaftesbury Charitable Trust apd Museums Development South West, and for the Sattei. projeLt totalling £5.300 in 2024 from the Shaftesbuiy Charstable Trust, the Dixon Chaiitable TTU5t and the Dorset Museuins Association. Both piojecis were substantially complete by the year-end and are scheduled for coinplction before the Museum & Gardens re-open to the public in March 2025. Reserves policy The charity aims to Inainlain reserves sutTicient to allow the iniiseum to open for the next year. The £29.815 funds in the bank or iT] hand at the 2024 year-end reinains somewhat below the policy target due mainly io expenditures on restricted projects in prior ycRrs,' the trustees have Iherefore deiermined that a stratcgic goal of increasing year-end reserves to ciica £40,000 within 3 years should be aiined for. STRUC.TIIRF., GOVF.RNANCE AND MANAGEMENT Governing documet]t 'rhe organisation was establsshed as a company limited by guarantee and rcgistered as a charity on 7th Januai'y 1986. '1'he company is controlled by its governing document, the Metnuranduin & Articles of Association, constitutes a limited coinpany, limited by gtiarantee, as defined by ihe Loinpanies Act 2006. The liabilily of each of the meinber% iii ihe evcnt of the Coinpany being wouiid up is limited to a suin not exceeding £1. Reeruitment and appointment of new tru5tces One third of all board Ineinbers are required to retire at each annudl general meeting, by rotation, where they arc eli¥Eble for re-election Organi5ational structurc The board is made up of iiot less than 4, noi" more than 12. trustees ivhi¢h shall include not less than one Councillor froin each locally relevani council. The charity einploys a museum inanager, a chaimian's assistant and two stewards all of who &Te pait time, and has a team of voluntcer Stewards who work on a rota to keep tlie niuscum opeii. Page 3 S14AFTESBURY ABBF.Y AND MUSEUM PRESERVATION TRUST COMPANY LIMITF.D REPORT OFTHE TRUSTEES FOR THE YE4AR ENDED 31 DECEMBER 2024 STRUCTURE, GOVERNANCE AND MANAGEMENT Related partie5 The following trustee was also a representative of a council until tlie May 2024 local elections: Mi A P Pi'octor (Shaftesbury Town Council) In addition to the trustees, there is one additional meinber of the board who is also a represenlative of a council.. Mr D Beer (Dorset Coun¢il}, and one who since the M&y local elections is a representative of Shaftesbury 'fown Council.. Mr G Williams. REFERENCE AND ADMINISTEL4TIVE DETAILS RL'gibtered Company number 01964697 (8ngland and Wales) Registered Charity number 293260 Rcgistered offiee Park Walk Shaftesbury Dorset SF7 ISJR Trustees Mr5 S Jacson Company Director A F Pi'o¢tor Company Director P G Ryley Retired Mrs C L Ryley Retired P Wildman Retired Di D M Jolle5 Retiied Di. D S Edwai'd% Education Consultant Dr J C Richards Consultant Aichaeologi5t R Sl