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2025-03-31-accounts

REGISTERED CHARITY NUMBER: 294260

SHROPSHIRE REGIMENTAL MUSEUM TRUST

TRUSTEES' REPORT AND

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

SHROPSHIRE REGIMENTAL MUSEUM TRUST

CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

Page
Reference and Administrative Details 1
Directors Report 2
Chairman’s Report 3
Trustees' Report 4 to 5
Independent Examiner's Report 6
Statement of Financial Activities 7
Statement of Financial Position 8
Notes to the Financial Statements 9 to 16

SHROPSHIRE REGIMENTAL MUSEUM TRUST

SHROPSHIRE REGIMENTAL MUSEUM TRUST SHROPSHIRE REGIMENTAL MUSEUM TRUST
REFERENCE AND ADMINISTRATIVE DETAILS
FOR THE YEAR ENDED 31 MARCH 2025
TRUSTEES R P Sartain
F Acton
S Brettell
G P Chambers
M Coulon
M Evans
M J G Hamilton-Russell (resigned 23.2.25)
Mrs S Kerr (appointed 24.7.24)
C Miller
Mr W J N Prideaux (appointed 9.9.24)
S Taylor
J Villar
C Whitaker
PRINCIPAL ADDRESS Shropshire Regimental Museum
Shrewsbury Castle
Castle Gates
Shrewsbury
SY1 2AT
REGISTERED CHARITY 294260
NUMBER
INDEPENDENT EXAMINER TCA (Shrewsbury) LLP
Third Floor
21 St Mary's Street
Shrewsbury
Shropshire
SY1 1ED

Page 1

SHROPSHIRE REGIMENTAL MUSEUM TRUST

DIRECTORS REPORT FOR THE YEAR ENDED 31 MARCH 2025

The museum enjoyed a sustained increase in visitors, combined with an increase in digital and social media engagement: in no small part attributable to improved Social Media content and a greater volume of digital signposting and increased frequency of posts.

2024/25 was the year we focussed on growing our audience, and it paid off: greater numbers of physical visitors (C26500) and nearly triple the number of followers on SM channels, with double the traffic across the website.

Next season we plan to steer our audience towards giving and fundraising. Plans are in place to market the newly installed Weapons Simulator, along with four new exhibitions/displays due to reach completion through 2025: more visitors = greater secondary spend.

We also plan to capitalise on connecting our digital/virtual audience to our physical programming through talks and events, and via press content covering our new exhibitions.

We aim to be at capacity for our volunteering offer halfway through the 2025 season, and we are already fulfilling the majority of Behind-The-Scenes work with our volunteer teams. The anticipated culmination of our largest digitisation project to date in late 2025 is on track, with two legacy projects ready to springboard from project end.

As we near year end for 2024/25, we learn that Shropshire Council will remove our annual £30,000 grant funding that we use to pay our warders, 2 per day, ending an agreement as old as the lease (40 years) at the start of the 2025/26 season/reporting year.

We cannot afford from our reserves to fully pay for these costs, neither can we afford not to have warders – so we are preparing to pay one warder/day with an agreement to half the staffed hours with their collective consent. That way, we retain the expertise and knowledge of the staff, but will re-prioritise their duties to look after the shop, and provide security for the cash donation box, the lower ground entrance/exit, and the Baton of G.A Donitz, one of the most valuable pieces in the collection. We will explore, with the Council, how we can jointly cover the previous duties.

Ultimately, we are looking to consolidate our plans for lease renewal, together with our enhanced audience-focused offers and secondary spend plans. 2025/26 looms and with it, opportunities, risks and exciting times!

Richard Gough

Museum Director

Page 2

SHROPSHIRE REGIMENTAL MUSEUM TRUST

CHAIRMAN’S REPORT

The Soldiers of Shropshire Museum (SoSM) remains one of the finest museums in the Country reflecting the heritage and long history of Shropshire and it’s people.

Our focus at the museum remains with engaging Shropshire Council to ensure our museum benefits our local community, the people and businesses of Shrewsbury and our national and international visitors. That written the key to our future is ensuring an extension to our licence with Shropshire Council to remain in Shrewsbury Castle from 2027. As Shropshire Council are operating with a considerable multi-million pound deficit, the museum has suggested mutually beneficial plans to support both SoSM, the Castle and the Council in savings, improving ticket receipts, revised opening times and event income whilst supporting a re-display to generate more space in the main hall for exhibitions, talks and events. As ever, this is an evolving and complex matter, and we continue to encourage our Friends and supporters to join our emailing list and attend our Friends fundraising events.

Our visitor numbers continue to improve, and we are receiving welcome feedback and positive reviews. Museum events and visitors also help generate ideas, concepts for the future and to raise the profile and much needed funds for the Museum. Our Director, Richard Gough, has procured and installed the Electronic Weapons Simulator in the museum and work on the contents of the display cases for our out-reach exhibition at the RJAH Oswestry Veterans Centre Foyer is well underway.

It is of particular note that the Museum and Castle grounds, from 15[th] February, will reopen with our new timings Tuesday – Saturday 10:30am – 4pm (closed Sundays and Mondays) and this is complemented with our reinvigorated Newsletter (do email info@soldiersofshropshire.co.uk if you haven’t received your emailed copy) and our monthly talks which have included:

The latter talk was kindly arranged, via our Patron and Lord Lieutenant Anna Turner in Theatre Severn, which was sold out, and is great encouragement for our future Friends talks which, we hope, will include Allan Mallinson best known for writing a series of novels chronicling the life of Matthew Hervey who was educated in “The Schools”. We will publish future events in our quarterly Newsletter and our website at: https://www.soldiersofshropshire.co.uk/events/talks-programme/

We very much look forward to welcoming you, your friends and family, to the Museum and do please share this Newsletter with them and if you would like to be in touch with the museum email us at info@soldiersofshropshire.co.uk

Rex Sartain Chairman of Trustees Soldiers of Shropshire Museum

Page 3

SHROPSHIRE REGIMENTAL MUSEUM TRUST

TRUSTEES' REPORT FOR THE YEAR ENDED 31 MARCH 2025

The trustees present their report with the financial statements of the charity for the year ended 31 March 2025. The trustees have adopted the provisions of 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 (FRS 102) (effective 1 January 2019).

OBJECTIVES AND ACTIVITIES

Objectives and aims

The charity sought to incorporate the traditions and history of all the Shropshire Regiments (The King's Shropshire Light Infantry (KSLI), The Shropshire Yeomanry, The Shropshire Royal Horse Artillery, and the Shropshire Volunteer and Militia units) into a single museum (the Soldiers of Shropshire Museum).

The Museum Trust collected, documented, conserved, exhibited and interpreted items relevant to the history of the Shropshire Regiments represented by the Constituent Regimental Museum Trusts as well as the current and future Shropshire based Regiments and successor Regiments (Queen’s Own Mercian Yeomanry/Royal Yeomanry, Light Infantry/The Rifles) to include a regularly updated display of items illustrating the order of battle, tactics, weapons/equipment and deployments - at home and abroad.

Public benefit

The charity is a public benefit entity. It exists for the purpose of keeping and protecting the Historic Collections of the Shropshire Regiments open and available to the public, who can learn about the stories and sacrifices of the Soldiers from the County and how these impact our contemporary lives.

The trustees confirm that they have referred to the guidance contained in the Charity Commission's general guidance on public benefit when reviewing the Trust's aims and objectives, and in planning future activities.

ACHIEVEMENTS AND PERFORMANCE

Charitable activities

Details of the activities have been set out in the attached Chairman's report.

FINANCIAL REVIEW

Financial position

The charity has made a deficit for the year of £9,866 (2024: deficit of £61,536), following a slight increase in income received during the year from £64,265 in 2024 to £68,533 this year, the impact of which has been offset by an overall reduction in expenses from £92,780 in 2024 to £90,761 this year.

The charity has reported a increase in the market value of investments this year of £12,362 (2024: decrease of £33,021) which is included within the reported deficit of the year of £9,866, without which, the accounts for the year would have shown a deficit of £22,228. (2024: £28.515).

Reserves policy

The board of trustees maintain a financial position of 24 -36 months of expenditure held in reserve, a proportion of which is held in immediately available cash funds.

The free reserves at the year end were £457,836 (2024: £478,283) made up of unrestricted funds, less fixed assets held. Included in this balance is £452,877 (2024: £464,271) of investments which are treated like an endowment, to provide financial support for the future of the charity.

FUTURE PLANS

Details of future plans have been set out in the attached Chairman's report.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

The charity, an unincorporated trust, is governed by a Declaration of Trust dated 20th December 1985

Page 4

SHROPSHIRE REGIMENTAL MUSEUM TRUST TR STEES, REP RT R THE YEAR ENDED 31 MARCH 202 STRUCTURE, GOVERNANCE AND MANAGEMENT On 31 sl October 2024 a new charitable Incorporated organisalion ICIOI, Shrop5hire Regimental Museum 112107501, was registered with the Charity Commission. On the 31st March 2025 the Trustees agreed lo transfer all of the assets and activities of the Shrop5hire Regimental Museum Trust lo the Shropshire Regimental Museum, with effect from 1st April 2025 the activities have transferred and the Shropshire Regimental Museum Trust will be wound down and closed. TRUSTEES, RESPONSIBILITY STATEMENT The trustees are responsible for preparing the Truslee8' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards {Unit￿ Kingdom Generally Accepted Ac¢ounling Practice) including Financial Roporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" The law applicable lo charities in England and Wales, the Charities AGI 2011. Charity (Accounts and Reports) Regulations 2008 and the provisions ol the trust deèd requires the trustees lo prep8r8 financial slalement8 for each financi81 year which give a true and fair view of the stale Of affairs of thè charty and of the incoming resources and application of resources. including the income and expenditure, of the charity for that poriod. In preparing those financial statement8, the Irusleès are required lo select suitable accounting policies and then apply them consislenlly., observe the n￿thodS and principles in the Charity SORP., makejudgements and eslimales that are reasonable and prudent.. prepare the financial slalemenls on the going concern basi8 unless il 1$ Inappropriate lo presume that the cttarily will conlinug in business. The trustees are re8ponsibl8 for keeping propèr accounting records which di8close with reasongblg accuracy 81 any lime the financia1 position of the charity and lo enable them lo onsure that the financial slalem8nls comply with the Charities Act 2011, the Charity (Accounts and Reports) Regulations 2008 and the provisions of the trust deed. They are also responsiblo for safeguarding the assets of the charity and hence for taking roasonable $18p$ forthe prevention 8nd detection of frau and other irregu1arilies. Approved by order of the board oflru8tees on.... Sartai - Tru$le8 Page 5

INDEPENDENTEXAMINER'S REPORTTOTHETRUSTEESOF SHROPSHIRE REGIMENTALMU EUM TRUST Indepèndent axamine¢s report to the trustees of Shropshire Regimental Museum Trust I report to the charity Iruslees on my examination of the accounts of Shropshire Regimental Museum Trust Ilhe Trust) for the year ended 31 March 2025. Responslbilities and basls of report As the charity trustees of the Trust you are responsible for the preparalson of the accounts in accordance wrth the requirements of the Charities Act 2011 1.the Acl'l. I report in respect of my examination of the Trust's accounts carried out under Section 145 of the Act and in carrying out rny examination I have followed all applicable Directions given by the Charty Commission under Section 14515llbl of the Act. Indgpendent examlnorfs statement I have completed my examination. I confirm that no material matters have come lo my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of th8 Trust as required by Section 130 of th8 Act.. or the accounts do not accord with those records., or thè accounts do not comply with the applicable requirements concerning tho form and conlonl of accounts sel out in the Charities (Accounts 8nd Report51 Regulations 2008 other than any requirement that the accounts give a Ifue and fair view which is not a matter considèred as part of an independent ex8minalion. I have no concems and have come across no other matters in connection wi(h the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. CMCELYM C MceWn-Wlli8m5 Bsc FCA TCA Ishrowsburyl LLP Third Floor 21 Sl Mary's Slrtsl Shrewsbury Shropshire SY11ED Dale.. Page 6

SHROPSHIRE REGIMENTAL MUSEUM TRUST

STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 31 MARCH 2025

INCOME AND ENDOWMENTS FROM
Notes
Unrestricted
fund
£
Donations and legacies
2
41,253
Charitable activities
General
14,622
Investment income
3
6,608
Total
62,483
EXPENDITURE ON
Raising funds
-
Charitable activities
General
89,952
Total
89,952
Net gains/(losses) on investments
12,362
NET INCOME/(EXPENDITURE)
(15,107)
RECONCILIATION OF FUNDS
Total funds brought forward
478,283
TOTAL FUNDS CARRIED FORWARD
463,176		 Restricted
funds
£
6,050
-
-
6,050
-
809
809
-
5,241
16,189
21,430		 2025
Total
funds
£
47,303
14,622
6,608
68,533
-
90,761
90,761
12,362
(9,866)
494,472
484,606		 2024
Total
funds
£
50,039
13,826
400
64,265
98
92,682
92,780
(33,021)
(61,536)
556,008
494,472

CONTINUING OPERATIONS

All income and expenditure has arisen from continuing activities.

The notes form part of these financial statements

Page 7

SHROPSHIRE REGIMENTAL MUSEUM TRUST STATEMENT OF FINANCIAL POSITIO 31 MARCH 2025 2025 Tot81 fijnds 2024 Total funds Unrestricted fund Re5trLtwJ funds Notes FIXED ASSETS Tangib￿ assets Investments 5,340 452,877 5,340 452,877 464,271 458.217 458,217 464,271 CURRENT ASSETS Stocks Cash at bank and in hand 12.220 12,3111 12,220 19,119 13,275 22.023 21.430 9,909 21,430 31,339 3S.298 CREDITORS Amounts falling dua within one year 10 14,9501 14,9501 15,097} NET CURRENT ASSETS 4,959 21,430 26.389 30,201 TOTAL ASSETS LESS CURRENT LIA81LITIES 463,176 21,430 484,606 494,472 NET ASSETS 463,176 21,430 484,6C6 494,472 FUNDS unrestr￿ad funds Restr￿ted funds 11 463,176 21,430 478,283 16,189 TOTAL FUNDS 484.6C 494,472 e financial slalemenls were approved by the Board of Trustee8 and aulhorised for h88ue on and were signed on ils behalf by.. M Evan8- Trustee The notes form part of these financial statements Page 8

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charity, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) '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 (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Charities Act 2011. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value, as modified by the revaluation of certain assets.

Financial reporting standard 102 - reduced disclosure exemptions

The charity has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

Government grant income is recognised when the Trust is able to demonstrate that it is entitled to receipt.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures & Fittings - straight line basis over 4 years.

Taxation

The charity is exempt from tax on its charitable activities.

Fund accounting

Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.

Restricted funds can only be used for particular restricted purposes within the objects of the charity. Restrictions arise when specified by the donor or when funds are raised for particular restricted purposes.

Further explanation of the nature and purpose of each fund is included in the notes to the financial statements.

Page 9

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

1. ACCOUNTING POLICIES - continued

Pension costs and other post-retirement benefits

The charity operates a defined contribution pension scheme. Contributions payable to the charity's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

Investments

Assets held for investment purposes are valued at market value at the balance sheet date. Net gains and losses arising on revaluation and disposals during the year are included in the statement of financial activities.

Cash at bank and in hand

Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Financial instruments

The charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value.

Heritage assets

The collections of the Soldiers of Shropshire Museum predominantly consist of donations which are considered heritage assets under the terms of the Statement of Recommended Practice as issued by the Charity Commission. The heritage assets of the Soldiers of Shropshire Museum have been excluded from the balance sheet due to a lack of valuation, as no financial value has historically, or is currently, placed on items donated to the Museum. Furthermore in accordance with the Code of Ethics for Museums, to which the Museum must adhere to as an Accredited Museum, the disposal of any collections cannot be made principally for financial reasons.

2. DONATIONS AND LEGACIES

Donations
Legacies
Grants (incl'g payroll cont'n)
Memberships
Grants received, included in the above, are as follows:
Other Grants
Local Authority Grants		 2025
£
8,050
1,000
29,612
8,641
47,303
2025
£
-
29,612
29,612		 2024
£
6,398
5,000
31,246
7,395
50,039
2024
£
3,280
27,966
31,246

Page 10

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

3. INVESTMENT INCOME

Dividends received
Interest received		 2025
£
6,223
385
6,608		 2024
£
-
400
400

4. TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the year ended 31 March 2025 nor for the year ended 31 March 2024.

Trustees' expenses

Trustee expenses of £nil were reimbursed for the year ended 31 March 2025. (2024: £115)

5. STAFF COSTS

Wages and salaries
Social security costs
Other pension costs		 2025
£
66,429
3,427
863
70,719		 2024
£
60,082
-
863
60,945

The average monthly number of employees during the year was as follows:

The average monthly number of employees during the year was as follows:
Museum Director
Other Employees		 2025
1
8
9		 2024
1
10
11

No employees received emoluments in excess of £60,000.

The average number of full time equivalent employees during the year was 3. (2024: 3)

During the year £29,612 (2024: £27,966) was reimbursed from Shropshire Council in relation to staff costs.

The key management personnel of the charity to whom the Trustees delegate the day-to-day running of the organisation is the Museum Director. The total employee benefits of the key management personnel of the charity for the year ended 31 March 2025 were £32,947 (2024: £34,425).

Page 11

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

6.
COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
Unrestricted
fund
£
INCOME AND ENDOWMENTS FROM
Donations and legacies
46,419
Charitable activities
General
13,826
Investment income
400
Total
60,645
EXPENDITURE ON
Raising funds
3
Charitable activities
General
81,978
Total
81,981
Net gains/(losses) on investments
(33,021)
NET INCOME/(EXPENDITURE)
(54,357)
RECONCILIATION OF FUNDS
Total funds brought forward
532,640
TOTAL FUNDS CARRIED FORWARD
478,283
7.
TANGIBLE FIXED ASSETS
COST
Additions
DEPRECIATION
Charge for year
NET BOOK VALUE
At 31 March 2025
At 31 March 2024		 Restricted
funds
£
3,620
-
-
3,620
95
10,704
10,799
-
(7,179)
23,368
16,189		 Total
funds
£
50,039
13,826
400
64,265
98
92,682
92,780
(33,021)
(61,536)
556,008
494,472
Fixtures
and
fittings
£
5,454
114
5,340
-

Page 12

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

8. FIXED ASSET INVESTMENTS

Listed
investments

MARKET VALUE
£
At 1 April 2024
464,271
Additions
6,230
Disposals
(29,992)
Revaluations
12,362
At 31 March 2025
452,871
NET BOOK VALUE
At 31 March 2025
452,871
At 31 March 2024
464,271
There were no investment assets outside the UK.
Cost or valuation at 31 March 2025 is represented by:
Listed

Valuation in 2025
investments
£
60,435
Cost
392,436
452,871
9.
STOCKS
Stocks
10.
CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
Trade creditors
Taxation and social security
Other creditors		 Cash and
settlements
pending
£
-
30,014
(30,008)
-
6
6
-
Cash and
settlements
pending
£
(1)
7
6
2025
£
12,220
2025
£
246
2,474
2,230
4,950		 Cash and
settlements
pending
£
-
30,014
(30,008)
-
6
6
-
Cash and
settlements
pending
£
(1)
7
6
2025
£
12,220
2025
£
246
2,474
2,230
4,950		 Totals
£
464,271
36,244
(60,000)
12,362
452,877
452,877
464,271
Totals
£
60,434
392,443
452,877
2024
£
13,275
2024
£
279
1,776
3,042
5,097		 Totals
£
464,271
36,244
(60,000)
12,362
452,877
452,877
464,271
Totals
£
60,434
392,443
452,877
2024
£
13,275
2024
£
279
1,776
3,042
5,097

Page 13

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

11. MOVEMENT IN FUNDS

Unrestricted funds
General fund
Restricted funds
Friends Fund
National Lottery Social Enterprise
Academy
TOTAL FUNDS
Net movement in funds, included in the above are as follows:
Unrestricted funds
Incoming
resources
£
General fund
62,483
Restricted funds
Friends Fund
6,050
TOTAL FUNDS
68,533		 At 1.4.24
£
478,283
11,524
4,665
16,189
494,472
Resources
expended
£
(89,952)
(809)
(90,761)		 Net
movement
At
in funds
£
31.3.25
£
(15,107)
463,176
5,241
16,765
-
4,665
5,241
21,430
(9,866)
484,606
Gains and
losses
£
Movement
in funds
£
12,362
(15,107)
-
5,241
12,362
(9,866)

Comparatives for movement in funds

Unrestricted funds
General fund
Restricted funds
Friends Fund
National Lottery Social Enterprise
Academy
TOTAL FUNDS		 At 1.4.23
£
532,640
14,703
8,665
23,368
556,008		 Net
movement
in funds
£
(54,357)
(3,179)
(4,000)
(7,179)
(61,536)		 At
31.3.24
£
478,283
11,524
4,665
16,189
494,472

Page 14

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued

FOR THE YEAR ENDED 31 MARCH 2025

11. MOVEMENT IN FUNDS - continued

Comparative net movement in funds, included in the above are as follows:

Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 60,645 (81,981) (33,021) (54,357)
Restricted funds
Friends Fund 340 (3,519) - (3,179)
National Lottery Social Enterprise
Academy - (4,000) - (4,000)
Ironbridge Gorge Museum Trust 3,280 (3,280) - -
3,620 (10,799) - (7,179)
TOTAL FUNDS 64,265 (92,780) (33,021) (61,536)

A current year 12 months and prior year 12 months combined position is as follows:

Unrestricted funds
General fund
Restricted funds
Friends Fund
National Lottery Social Enterprise
Academy
TOTAL FUNDS		 Net
movement
At
At 1.4.23
£
in funds
£
31.3.25
£
532,640
(69,464)
463,176
14,703
2,062
16,765
8,665
(4,000)
4,665
23,368
(1,938)
21,430
556,008
(71,402)
484,606

A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:


above are as follows:
Incoming Resources Gains and Movement
resources expended losses in funds
£ £ £ £
Unrestricted funds
General fund 123,128 (171,933) (20,659) (69,464)
Restricted funds
Friends Fund 6,390 (4,328) - 2,062
National Lottery Social Enterprise
Academy - (4,000) - (4,000)
Ironbridge Gorge Museum Trust 3,280 (3,280) - -
9,670 (11,608) - (1,938)
TOTAL FUNDS 132,798 (183,541) (20,659) (71,402)

Page 15

continued...

SHROPSHIRE REGIMENTAL MUSEUM TRUST

NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 31 MARCH 2025

11. MOVEMENT IN FUNDS - continued

Restricted funds

Friends Fund - funds held by the charity used in relation to the Museum exhibits, including the purchase of additions to the Museum's collections and publishing of research material.

The National Lottery Social Enterprise Academy - 'Steps to Sustainability' - This is a two part grant

received to fund the sustainable development of the Museum.

Ironbridge Gorge Museum Trust - This relates to funds received, on behalf of Arts Council England, towards the museum's Audience project, to run hands-on demonstrations of Army equipment. This was all spent during the year .

12. EMPLOYEE BENEFIT OBLIGATIONS

The charity operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the charity in an independently administered fund. The pension cost charge represents contributions payable by the charity to the fund and amounted to £863 (2024: £863) Contributions totalling £670 (2024: £287) were payable to the fund at the balance sheet date.

13. RELATED PARTY DISCLOSURES

During the year, the Trust received donations of £nil from the Trustees, in respect of donated expenses and participation in the sponsored walk. (2024: £nil).

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