## **BUSHEY MUSEUM TRUST**
**A Charitable Incorporated Organisation (CIO) CIO CRM: 0172913**
**A registered charity Charity number: 294261**
**TRUSTEES' ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025**
**BUSHEY MUSEUM TRUST**
**Page 1**
A Charitable Incorporated Organisation
## **Trustees' annual report and financial statements for the year ended**
## **31 March 2025**
## **Contents**
||**Pages**|
|---|---|
|Report of the Trustees|**2 - 9**|
|Independent examiner's report|**10 - 11**|
|Statement of financial activities|**12**|
|Movement in funds|**13**|
|Balance sheet|**14 - 15**|
|Notes to the financial statements|**16 - 19**|
**BUSHEY MUSEUM TRUST**
**Page 2**
## REPORT OF THE TRUSTEES
The Trustees present their report on the affairs of the Trust together with the financial statements of the Trust for the year to 31 March 2025
The financial statements have been prepared in accordance with the accounting policies set out in 11.1 below and comply with the Charities Act, the Trust's Memorandum and Articles of Association 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 (FRS102) effective from 1 January 2019.
Bushey Museum was officially opened on 22 October 1993. The Museum was accorded full registration with the Museums and Galleries Commission on 28 October 1993. The Commission's successor body, the Museum, Libraries and Archives Council, awarded the Museum full accredited status in July 2008. This was further renewed by the Arts Council in December 2013. The Museum also merits the accreditation of "Quality Assured Visitor Attraction" under the Visitor Attraction Quality Assurance Scheme (VAQAS).
## **1. LEGAL AND ADMINISTRATIVE INFORMATION**
Charity name: Bushey Museum Trust Charity registration number: 294261 Registered office and operational address: Rudolph Road, Bushey, Herts WD23 3HW Registered Museum number: RD1048
## **1.1 DIRECTORS AND TRUSTEES**
The directors of the charitable company are its Trustees for the purposes of charity law. The Trustees serving during the year were as follows:
Audrey Adams (Chairman) Margaret Craig Gray Rita Castle Barry Hyman Catherine Earle Adele Taylor Anthony Woollard Valerie Penketh Patricia Woollard David Johal Brenda Batten
## **1.2 PROFESSIONAL ADVISERS**
## **Solicitors:**
Penman Sedgwick 5 George Street Watford WD18 0SQ
## **Bankers:**
Charities Aid Foundation Bank
## **Independent Examiner**
Richard A Kessel FCA 8 Athol Gardens Pinner HA5 3XQ
**Page 3**
## **BUSHEY MUSEUM TRUST**
## REPORT OF THE TRUSTEES - continued
## **2. CONSTITUTION AND PRINCIPAL OBJECT**
The Trust is constituted as a Charitable Incorporated Organisation. It is a registered charity and operates as a registered museum.
The object of the Trust as set out in its Memorandum of Association is to advance the education of the public in Bushey by the provision of a museum and local studies centre with material of archaeological, historic, artistic and social interest.
## **2.1 PURPOSES AND ACTIVITIES**
The principal purpose of the charity is as stated above. The charity also has the general aims of:
- = contributing to the quality of life of the people of Bushey and District and increasing their knowledge and awareness of the unique heritage of Bushey;
- = providing a local studies centre with material of archaeological, historical, artistic and social interest to promote family, social and industrial history research; and,
- = furthering the social and cultural welfare of the community of Bushey and District and supporting and enhancing the activities of the associated Reveley Lodge Trust (see 2.4.2).
## **2.2 STRATEGIES TO DELIVER OUR AIMS**
The strategies employed to achieve the charity's aims and objectives are:
- = to present accessible temporary and permanent exhibitions and displays on topics related to art and local history by and through all media with emphasis on interpretation of meaning;
- = to provide stimulating museum-based educational experiences for children and adults and to host school visits to, and other tours of, the Museum and its related facilities for these purposes;
- = to encourage and provide research material to enable researchers and local historians to publish the results online or in written form whenever practicable and affordable;
- = to provide and maintain a local studies centre for family and social history research; and,
- = to provide facilities for small local organisations to hold meetings and educational classes.
## **2.3 Volunteers**
Apart from one paid part-time employee, all aspects of the running of Bushey Museum are carried out by volunteers, many of whom are members of the Friends of Bushey Museum. Volunteers are involved in all office functions cataloguing, labelling, research, curating, mounting exhibitions, data input and all the other activities of a museum. The volunteers also provide stewarding for the 20 hours a week when the Museum is open to the public (Thursdays to Sundays). Without the material and human support of our volunteers the museum could not function.
**Page 4**
## **BUSHEY MUSEUM TRUST**
## REPORT OF THE TRUSTEES - continued
## **2.4 RELATED PARTIES**
## **2.4.1 BUSHEY MUSEUM SERVICES LIMITED**
Bushey Museum Services Limited (company number 02238032) is controlled by the Museum and is responsible for the trading conducted on behalf of the Museum. During the year steps were taken to wind up the company and the retail operation is now incorporated into the Museum. The shop is entirely run by volunteers and there is also an online facility.
## **2.4.2 REVELEY LODGE TRUST**
In 2003 Bushey Museum Trust (BMT) received a bequest in accordance with the will of Mrs Eila Chewett comprising land and property at Reveley Lodge, 88 Elstree Road, Bushey Heath WD23 4GL together with eight neighbouring cottages. Under the terms of the will, these assets were bequeathed absolutely for the general charitable purposes of BMT. At the time of the bequest the Trustees took the view that because:
(1) the consolidation of the bequeathed assets with those of BMT might put at risk the continuation of financial support for Bushey Museum from Hertsmere Borough Council; and, (2) the administration and management of land and property would require different skills from those required for the management of a museum and art gallery,
it was expedient to:
(1) form a separate incorporated charitable trust called the Bushey Museum Property Trust (BMPT), renamed during 2018/2019 as The Reveley Lodge Trust (RLT) to avoid confusion between the names of the two separate trusts; and,
(2) to assign the bequeathed assets to the new trust.
To ensure legal separation of the two trusts under company law a majority of the trustees of RLT are not also trustees of BMT. In other respects the continuing mutually supportive inter-relationship of BMT and RLT is evidenced by contingency provisions in the constitution of RLT and by the fact that BMT supplies management and staffing for the educational activities provided for children and adults which take place at Reveley Lodge. The Chairman of the Reveley Lodge Trust is Granville Taylor.
## **2.4.3 FRIENDS OF BUSHEY MUSEUM**
The Friends of Bushey Museum is a registered charity (number 1039713 - registered 20 November 1986). Its charitable aims are:
_The education of the public by promotion, support, assistance and improvement of Bushey Museum through the activities of its members_
It is a membership organisation separate from the Museum and is chaired by Rita Castle. It offers its members four newsletters a year and a programme of social events, outings and an annual holiday. These events contribute greatly to the Museum's aim of furthering the social and cultural welfare of the local community, with the Museum seen as a focus for positive social interaction. The Friends of Bushey Museum had a membership of 482 on 31 March 2025 (2024: 521).
**BUSHEY MUSEUM TRUST**
**Page 5**
REPORT OF THE TRUSTEES - continued
## **3. CHARITABLE ACTIVITIES**
## **3.1 STATUTORY DECLARATION**
The Trustees declare that they have had due regard for the Public Benefit in determining the activities of the charity in line with the provisions of the Charity Commission.
## **3.2 VISITORS TO BUSHEY MUSEUM**
During the year to 31 March 2025, the Museum was open to the public for 210 days and attracted a total of 7,545 visitors. This includes users of the Meeting Room and Art Studio and visiting educational groups. In the year to 31 March 2024 the Museum attracted a total of 6,533 visitors.
## **3.3 BUSHEY MUSEUM WEBSITE**
The website www.busheymuseum.org has continued to evolve since being re-launched in 2019. It provides a comprehensive guide for prospective visitors and includes special features and further information to complement exhibitions and events at the Museum. Other features include the everpopular online jigsaws featuring paintings owned by the Museum. The website includes links to other relevant bodies and local organisations.
## **3.4 SOCIAL MEDIA**
The Museum is represented on Facebook and Instagram. These sites are designed to complement and enhance exhibitions and events at the Museum and at Reveley Lodge and subscribers are encouraged to add their comments and photographs. There are also links to relevant local organisations and news of local community events in Bushey.
## **3.5 EDUCATIONAL SERVICE**
The Museum provides educational "experiences" which are linked to the National Curriculum. They are held at the Museum, at Reveley Lodge and as outreach sessions at individual schools and are organised by Adele Taylor assisted by an experienced team of volunteers. The most popular session in the year to 31 March 2025 was "the Victorian experience" (19 sessions) followed by "Plants and Seeds" (11 sessions) and "History through Toys" (8 sessions). There were also some Local History Mornings (7 sessions). A total of 45 sessions were organised involving 954 pupils and 217 school staff. There were also 2 special sessions held during School Assemblies involving 365 pupils and 19 staff. (in 2023/2024 a total of 27 sessions were held involving 673 pupils and 122 staff). 540 volunteer hours were donated (2024: 330).
## **3.6 FROBISHER STUDIO AND MEETING ROOM**
The Frobisher Studio was re-erected on the Museum site in 2007 after a century standing in nearby Glencoe Road. It was refurbished with the aid of a Heritage Lottery Grant and generous support from its former owner. After a hiatus caused by the pandemic local art classes and a printing group gradually returned and the Studio was occupied five days a week. In the year to 31 March 2025 a total of 1,442 students used the Frobisher Studio facilities compared with 1,473 students in the year to 31 March 2024.
The Meeting Room is an important asset being used for meetings of Museum bodies such as the Trustees, the Management Committee, the Education Service, the Friends of Bushey Museum, the newsletter collators and the Museum's embroidery group. It is also available to community groups and other local organisations. There were 260 Meeting Room users in the year to 31 March 2025 compared with 148 users in the year to 31 March 2024.
**BUSHEY MUSEUM TRUST**
**Page 6**
## REPORT OF THE TRUSTEES - continued
## **3.7 EXHIBITIONS**
## **3.7.1 PERMANENT EXHIBITIONS**
## THE LUCY KEMP-WELCH MEMORIAL GALLERY
This is a permanent display of paintings and drawings by Lucy Kemp-Welch. Most of the paintings on show are owned by the Lucy Kemp-Welch Trust and some are kindly on loan from the Kemp-Welch family. In March 2023 at the request of the Kemp-Welch Trust, eight of their choicest paintings were loaned to the Russell Cotes Museum in Bournemouth and then to the National Horse Racing Museum in Newmarket where they were received very enthusiastically by a whole new public. The Kemp-Welch paintings were returned to Bushey in March 2024 and were successfully re-hung in the newly redecorated Gallery.
## THE HERKOMER ROOM
This celebrates the towering contribution to Bushey's art heritage of Professor Sir Hubert von Herkomer, his school of art and his many artistic activities. Although this room is a permanent exhibition, occasionally some changes of items and displays are made. This year there were no notable acquisitions.
## **3.7.2 TEMPORARY EXHIBITIONS IN THE MAIN GALLERIES**
## THE COUNCIL CHAMBER GALLERY
In January 2024 an exhibition of works by the Monro Circle featured local watercolour artists active before Herkomer's time. In June 2024 this was replaced by a display of donated artworks. The Museum is fortunate to have received a number of donations over the years and this presented an opportunity to exhibit some of them. January 2025 saw the opening of a new exhibition devoted to Weather and Water which proved very timely!
## THE ANNE BLESSLEY GALLERY
The Gallery, named in honour of the Museum's founding art curator, offers an ideal space for smaller displays. In October 2023 an exhibition of paintings and artefacts connected to St. James' Church was mounted in support of the Church Tower appeal. This was succeeded in April 2024 by a selling exhibition of works by members of the Chandos Art Society. This was replaced in October 2024 by a display of works by local artist Marguerite Frobisher who specialised in animal subjects and ran her own Art School.
## THE JUBILEE ROOM
This small gallery provides an ideal setting for photographic exhibitions. For most of the year it featured another display in the very popular Then and Now series. This one was contributed by local photographer Jeff Owens who colourised a selection of old photographs and compared them with modern day shots of the same scenes photographed by himself. In September 2024 we were pleased to display a community artwork completed during the annual Bushey Performing Arts Festival along with photographs of the event contributed by Bushey photographer Laurence Stone and members of the Pinner Camera Club.
## LOCAL HISTORY GALLERIES
The local history displays benefitted from the acquisition of further examples of Bushey Heath pottery and some other less spectacular items. The Jubilee case housed a display about the life and work of local artist Myrtle Broome. The unwieldy Reveley Case was replaced by two new display cases, one earmarked for new acquisitions and the other for costume displays.
## **3.8 DEALING WITH ENQUIRIES**
The Museum continued to respond to queries from all over the world on a variety of topics. Following the pandemic these were mainly dealt with by email. The Museum also continued to advise Hertsmere Borough Council on such matters as street naming.
**BUSHEY MUSEUM TRUST**
**Page 7**
## REPORT OF THE TRUSTEES - continued
## **4. ORGANISATION**
The Trustees who served during the year to 31 March 2025 are listed on page 2. They normally meet six times per year and at other times as required. The museum receives most welcome advice from Hertsmere Borough Council's Heritage and Museums Officer Ruth Stratton who supports all museums and heritage organisations within the Borough. During the year the Trust had one part-time paid employee, Buildings Manager David Berry.
## **4.1 JOINT MEETINGS**
Bushey Museum Trust and the Reveley Lodge Trust formerly held bi-annual joint meetings at which matters of mutual interest were discussed. These were suspended during the pandemic and have yet to be reinstated though informal contact continues.
## **4.2 COUNCIL LIAISON**
The long-established six-monthly management meetings involving representatives of Hertsmere BC and Museum officials continued. Their purpose is to inform the Council representatives of the activities and plans of the Museum and to discuss matters of mutual interest. The Council nominated two representatives to this meeting, Cllr Seamus Quilty and Cllr Shailain Shah. The Museum's regular representatives were Audrey Adams, Brenda Batten and Catherine Earle with other Trustees attending depending on the subjects being discussed.
## **4.3 RISK MANAGEMENT**
All activities are risk assessed. The Trustees have reviewed the risks which they consider to be relevant and have concluded that adequate measures exist or are in the course of implementation in order to minimise most of those risks which are within their control. However, succession planning continues to be problematic.
## **5. FINANCIAL RESULTS AND REVIEW**
## **5.1 OVERVIEW**
Hertsmere Borough Council continues to provide support for the Museum with a Service Level Agreement between the Council and the Bushey Museum Trust under which Hertsmere BC provides the building and a grant towards the Museum's core funding. In addition, Hertsmere BC provides the services of a part-time Museums Officer. Bushey Museum is very grateful for this support.
In the year to 31 March 2025 the Museum received income of £75,295 (2024: £88,964). This was reduced from the previous year.
This year we received a grant of £11,740 to purchase some display cases
Unrestricted grants of £34,000 were received during the year (2024: £34,000). The remainder of funds received came from charges for services provided by the Museum and from donations.
The total designated fund at 31 March 2025 amounted to £175,061 (2024: £175,061)
The Museum had total net income resource of £17,557 (2024: £26,772) of which £13,017 (2024: £26,800) was unrestricted and non-designated. We did not transfer money from reserves to the refurbishment designated fund.
As a registered charity and a company without share capital the Trust does not pay any dividends.
**BUSHEY MUSEUM TRUST**
**Page 8**
## REPORT OF THE TRUSTEES - continued
## **5.2 RESERVES POLICY**
It is important to note that, despite the scale and quality of its operations, the bulk of the Museum's day-to-day operations are run by volunteers with the assistance of just one part-time Buildings Manager. The Museum's running costs are, therefore, disproportionately low relative to the scale of its operations. But, by corollary, the Museum's long-term maintenance and refurbishment costs are disproportionately high relative to its costs and therefore its annual turnover. In the unlikely event of a deep cut in its regular income such that the Museum could no longer operate in its present manner, the Trustees would have to decide whether to either:
a) find another suitable organisation or individual willing to take over the running of the Museum as a charity in its entirety; or,
b) distribute the items in the Museum's collection to other museums or dispose of the items by sale or auction, disperse any residual funds in accordance with the provisions of the governing document and hand back the premises to Hertsmere Borough Council.
Therefore, the Trustees' reserve policy is to maintain reserves of approximately 75% of current expenditure. Given that general expenditure in the year to 31 March 2025 amounted to £13,017 excluding expenditure from restricted and designated funds, the Museum's reserves at 31 March 2025 should be not less than £9,763 and as the Museum's unrestricted reserves at 31 March 2025 amounted to £81,601, no transfer was made to the refurbishment designated fund. At 31 March 2025 designated funds totalled £175,061 (2024: £64,044 and £175,061 respectively).
## **5.3 FINANCIAL OUTLOOK**
As reviewed in Section 11.4 designated funds and particularly section 11.4.2 refurbishment and redevelopment, the long-term sustainability of Bushey Museum is dependent on being able to maintain and develop its physical environment in order to:
a) ensure that its facilities meet such evolving best practice standards for museums as necessary to maintain its accredited status; and,
b) enable it to introduce new and better ways to present its collection for the public benefit and to promote community engagement in its collection and the historical cultures it represents.
While major refurbishment and redevelopment projects will require significant external funding, it is necessary that the Museum develops its own resources to provide the necessary seed-funding required for such undertakings.
## **5.4 FUTURE PLANS**
Frustratingly, the Trustees find it difficult to plan for the future of the Museum because of various factors over which they have no control. The lease for the present Museum building, which is owned by Hertsmere Borough Council, expires in 2028. This matter has already been raised with the Council. The adjoining Bushey Fire Station closed in 2014. The Museum had hoped to be able to take over this site and incorporate it in a major rebuilding project including the provision of a new gallery and extra storage space. After nearly ten years of indecision Hertfordshire County Council, who are responsible for the Fire Station, offered the premises for commercial rent at the beginning of 2023. Agreement was reached with a local engineering company, who moved into the premises at the beginning of 2024.
Meanwhile, Bushey Country Club, which is owned by Hertsmere Borough Council, became vacant in early 2018. This is a large-scale site in the centre of Bushey and there was an extensive consultation with Bushey residents regarding its future use. One of the suggestions made was to build a community "hub" incorporating a purpose-built museum on this site and this was subsequently included in the Hertsmere draft local plan offered for public consultation in April 2024. Clearly it would be unwise to rule out this possibility but without definite and detailed plans the Trustees are unable to commit themselves to any option at this time. The wheels of local government turn very slowly and at the moment the future of the Museum is suffering as a result.
**BUSHEY MUSEUM TRUST**
**Page 9**
## REPORT OF THE TRUSTEES - continued
## **5.5 TRUSTEES' RESPONSIBILITY IN RELATION TO THE FINANCIAL STATEMENTS**
Law applicable to charities in England and Wales requires the Trustees to prepare financial statements for each financial year which give a true and fair view of the Charity's financial activities during the year and of its financial position at the end of the year. In preparing these statements the Trustees are required to:
- = select suitable accounting policies and apply them consistently;
- = make judgements and estimates that are reasonable and prudent;
- = state whether applicable accounting standards and the statement of recommended practice have been followed subject to any departures disclosed and explained in the financial statements; and,
- = prepare the financial statements on a going concern basis unless it is inappropriate to presume that the charity will continue in business.
The Trustees are responsible for keeping accounting records which disclose with reasonable accuracy at any time the financial position of the Charity and enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the charity and taking reasonable steps for the prevention and detection of fraud and other irregularities.
Approved by the Trustees on 28th August 2025
Signed on their behalf by
Audrey Adams
Audrey Adams Chairman of the Bushey Museum Trust
**BUSHEY MUSEUM TRUST**
**Page 10**
A Charitable Incorporated Organisation
## **Independent examiner's report to the Trustees of Bushey Museum Trust**
## **("the CIO")**
I report on the accounts of the Bushey Museum Trust for the year ended 31 March 2025, which are set out on pages 12 to 19.
## **Respective responsibilities of the Trustees and examiner**
The charity's Trustees are responsible for the preparation of the accounts. The charity's Trustees consider that an audit is not required for this year under section 144(2) of the Charities Act 2011 ("the 2011 Act") and that an independent examination is needed. It is my responsibility to:
- = examine the accounts under section 145 of the 2011 Act
- = to follow procedures laid down in the general directions given by the Charity Commission under section 145(5)(b) of the 2011 Act; and,
- = to state whether particular matters have come to my attention.
## **Basis of independent examiner's report**
My examination was carried out in accordance with the general directions given by the Charity Commission. An examination includes a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts and seeking explanations from you as Trustees concerning such matters. The procedures undertaken do not provide all the evidence that would be required in an audit and consequently no opinion is given as to whether the accounts present a "true and fair view" and the report is limited to those matters set out in the statement below.
**Page 11**
A Charitable Incorporated Organisation
## **BUSHEY MUSEUM TRUST**
## **Independent examiner's statement**
I have completed my examination. I confirm that no material matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:
1. Accounting records were not kept in respect of the charity as required by section 130 of the Act; or,
2. The accounts do not accord with those records; or,
3. The accounts do not comply with the appropriate requirements concerning the form and content of accounts set out in the Charities (Accounts and Reports) Regulations 2008 other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination.
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
R A Kessel
Richard A Kessel FCA 8 Athol Gardens Pinner HA5 3XQ
28th August 2025
**Page 12**
## **BUSHEY MUSEUM TRUST**
## A Charitable Incorporated Organisation **Statement of financial activities for the year ended 31 March 2025**
|**INCOMING RESOURCES**
**Voluntary income**
Donations
Legacies
Grants
**Income generated**
Museum shop
Lettings and sundries
**Investment income**
Bank interest received
Investment Income
**Charitable income**
Exhibitions
Education
Local history
Other income
**Total incoming resources**
**RESOURCES EXPENDED**
**Costs of generating funds**
Fundraising
**Charitable activities - coll.**
Acquisitions
Conservation and cat.
Exhibitions
**Other charitable activities**
Education
Local history
Miscellaneous
**Establishment**
Maintenance
Services
**Administration**
Human resources
Office services
Professional fees
Shop amalgamation
O/bal adjustment
**Total resources expended**
**Net incoming resources**
**RECONCILIATION**
Balance brought forward
Net incoming resources
Transfers between funds
**Balance carried forward**|**Unrestricted Designated**
**Restricted**
**funds**
**funds**
**funds**
**Total**
**£**
**£**
**£**
**£**
1,064
-
-
**1,064**
-
-
4,540
**4,540**
34,000
11,740
-
**45,740**
4,072
-
-
**4,072**
15,278
-
-
**15,278**
511
-
-
**511**
1,155
-
-
**1,155**
-
-
-
**-**
2,935
-
-
**2,935**
-
-
-
**-**
-
-
-
**-**
**59,015**
**11,740**
**4,540**
**75,295**
240
-
-
**240**
-
-
-
**-**
1,401
-
-
**1,401**
1,318
11,740
-
**13,058**
1,490
-
-
**1,490**
-
-
-
**-**
-
-
-
**-**
3,298
-
-
**3,298**
7,887
-
-
**7,887**
-
-
23,383
-
-
**23,383**
6,316
-
-
**6,316**
665
-
-
**665**
-
-
-
**-**
-
-
**-**
**45,998**
**11,740**
**-**
**57,738**
**13,017**
**-**
**4,540**
**17,557**
64,044
175,061
398,042
**637,147**
13,017
-
4,540
**17,557**
-
-
-
**-**
**Year ended 31 March 2025**|**2024**|
|---|---|---|
|||**£**
4,632
-
47,569
16,252
17,533
1,107
-
-
1,871
-
-|
|||**88,964**|
|||441
13,479
655
1,722
559
-
-
3,028
7,400
21,951
3,546
144
9,267
-|
|||**62,192**|
|||**26,772**|
|||610,375
26,772
-|
||**77,061**
**175,061**
**402,582**
**654,704**|**637,147**|
-
**Page 13**
## **BUSHEY MUSEUM TRUST**
## A Charitable Incorporated Organisation
## **Movement in funds for the year ended 31 March 2025**
|**CASH ASSETS**
Petty cash
Bank current a/c
O/s debtors
O/s creditors
Asset purchases
Investment income
**Total cash assets**
**COMPRISING**
**General unrestricted**
Reserves
**Designated unrestricted**
Collection
Refurbishment and dev.
Lighting and security
**Restricted**
Collection
Exhibitions
Grants
**Total funds**|**B/fwd**
**1 April 2024**
**Receipts**
**Payments**
**Transfers**
**£**
**£**
**£**
**£**
111
-
(169)
350
548,760
98,192
(77,075)
(390,350)
14,267
(14,197)
-
(10,491)
9,651
-
-
84,500
-
-
-
-
1,155
-
390,000
**637,147**
**108,998**
**(91,441)**
**-**
64,044
97,258
(79,701)
-
89,561
11,740
(11,740)
-
85,000
-
-
-
500
-
-
-
600
-
4,030
-
-
-
393,412
-
-
-
**637,147**
**108,998**
**(91,441)**
**-**|**C/fwd**
**31 March 2025**
**£**
**292**
**179,527**
**70**
**(840)**
**84,500**
**391,155**|
|---|---|---|
|||**654,704**|
|||**81,601**
**89,561**
**85,000**
**500**
**600**
**4,030**
**393,412**|
|||**654,704**|
**Page 14**
A Charitable Incorporated Organisation
## **BUSHEY MUSEUM TRUST**
## **Balance sheet as at 31 March 2025**
|**Notes**
**Fixed assets**
Tangible fixed assets
**11.7**
Heritage assets
**11.8**
Investment in subsidiary
**11.9**
Other investments
**11.10**
**Current assets**
Petty cash
Bank current account
Sundry debtors
**11.5**
**Current liabilities**
Creditors due within one year
**11.6**
**Net current assets**
**NET ASSETS**
**Comprising:**
**General unrestricted funds**
Reserves
**Designated unrestricted funds**
Collection
**11.4.1**
Refurbishment and development
**11.4.2**
Lighting and security
**11.4.3**
**Total unrestricted funds**
**Restricted funds**
Collection
**11.3.1**
Exhibitions
**11.3.2**
Grants
**11.3.3**
**Total restricted funds**
**TOTAL FUNDS**|**31 March 2025**
-
84,500
-
391,155
475,655
292
179,527
70
179,889
(840)
179,049
**654,704**
81,601
89,561
85,000
500
256,662
600
4,030
393,412
398,042
**654,704**|**31 March 2024**
-
84,500
-
-|
|---|---|---|
|||84,500|
|||111
548,760
14,267|
|||563,138|
|||(10,491)|
|||552,647|
|||**637,147**|
|||64,044
89,561
85,000
500|
|||239,105|
|||600
4,030
393,412|
|||398,042|
|||**637,147**|
**BUSHEY MUSEUM TRUST**
**Page 15**
A Charitable Incorporated Organisation
The notes on pages 16 to 19 form part of these financial statements.
For the year ended 31 March 2025 the company was entitled to exemption under section 477 of the Companies Act 2006 ("the Act") relating to small companies. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476 of the Act.
The directors acknowledge their responsibility for complying with the requirements of the Act with respect to provisions applicable to companies subject to the small companies regime.
On 11 April 2023 the Trust ceased to operate as a Limited Company and became a Charitable Incorporated Organisation.
Approved by the Trustees and signed on their behalf by Audrey Adams, Chairman of Trustees
Audrey Adams
28th August 2025
**Page 16**
A Charitable Incorporated Organisation
## **BUSHEY MUSEUM TRUST**
## **Notes to the financial statements for the year ended 31 March 2025**
## **11.1 Accounting policies**
## **11.1.1 Basis of preparation**
The accounts have been prepared in accordance with the Statement of Recommended Practice, Accounting and Reporting by Charities SORP (FRS102), applicable accounting standards and the historical cost convention. The presentation of the balance sheet and statement of financial activities includes a general fund and a restricted fund. This is necessitated by the conditions of various grants and donations. Details of the grants, donations and legacies received are included in the Trustees' report.
## **11.1.2 Fixed assets**
The Trustees' accounting policy is to write off all fixed assets in the year in which they are acquired. Details can be found in Note 11.7.
## **11.1.3 Cash flow statement**
The Trust has taken advantage of the exemption provided by the Financial Reporting Standard 1 for small charities and has not prepared a cash flow statement for the year. The requirement for cash flow statements was dropped for accounting periods commencing on or after 1 January 2016 if the income of the charity is less than £500,000.
## **11.1.4 Collection**
Items shown under the Collection heading are only those purchased by the Trust out of income or through specific grants. Further details of the Collection are set out in the Trustees' report.
In accordance with previously recommended practice, the items in the Collection acquired prior to 1 April 2021 have not been shown as an asset of the Trust but were treated as part of routine expenditure. The SORP, FRS102, requires the information on Heritage and Inalienable Assets which would cover the Collection should be given in Notes to the Accounts whether or not they have been capitalised. The Trustees have considered this carefully and have decided that it is not practical on the grounds of difficulty and cost and so are taking advantage of the exception to this reporting requirement provided in the SORP FRS102. Furthermore, the Trustees consider that publication would prejudice the efficient working of the Charity by increasing the risk of theft and/or vandalism.
As communicated in the Trustees' report and in the notes to the financial statements, the year ended 31 March 2022 represented the first year in which such items have been acquired with reliable cost information. Such items have duly been capitalised as explained further in notes 11.1.5 and 11.8.
## **11.1.5 Heritage assets**
A heritage asset is a tangible or intangible asset with historical, artistic, scientific, technological, geophysical or environmental qualities that is held and maintained principally for its contribution to knowledge and culture.
Heritage assets are initially recognised at cost or valuation if donated. Subsequently they are held at cost less depreciation and impairment.
Where the cost or valuation of heritage assets are not available and such information cannot be easily obtained, the Charity considers if the cost of obtaining a valuation is justified by the usefulness of the information to the users of the accounts for its own stewardship purposes.
**BUSHEY MUSEUM TRUST**
**Page 17**
A Charitable Incorporated Organisation
## **Notes to the financial statements for the year ended 31 March 2025 - continued**
## **11.2 Grants and donations**
The Museum received grants from Hertsmere Borough Council which this year totalled £34,000. During the year money was also received from Hertsmere Borough Council amounting to £11,740 which related to the purchasing of display cases. Private donations and donations from Museum visitors amounted to £1,064 (2024 £4,632). Some grants and donations received in the year to 31 March 2025 were unrestricted and for the general fund of the Museum.
The Friends of the Museum were again generous in their purchases of new acquisitions and other capital items although the Museum's temporary brake on acquisitions (due to a lack of storage space) meant that fewer requests were made.
## **11.3 Restricted funds**
Restricted funds are funds which have been donated to support a specific purpose within the Museum's overall charitable purposes.
At 31 March 2025 the Museum had three restricted funds:
## **11.3.1 Grants for specific items**
These grants are given to the Museum to support the purchase of specific items such as items for the Collection, equipment to enhance the activities and environment or particular consumables. Such grants are normally entirely disbursed shortly after receipt in accordance with the trust on which they were given or, in some cases, may be a reimbursement for items already purchased by the Museum. The Collections Restricted Fund stood at £600 at 31 March 2025 (2024: £600).
## **11.3.2 Exhibition fund**
This fund is intended for paying costs related to the mounting of exhibitions including the hiring in of exhibitions from elsewhere. The fund stood at £4,030 at 31 March 2025 (2024: £4,030).
## **11.3.3 Grants**
This fund is intended to pay costs related to the work needed for the building. The fund stood at £393,412 at 31 March 2025 (2024: £393,412).
## **11.4 Designated funds**
Designated funds are funds which are part of the general fund (ie: available for application to any of the Museum's charitable objects at the discretion of the Trustees) but which have been put to one side by the Trustees in anticipation of future expenditure which are significantly in excess of the normal day-to-day costs of running the Museum.
At 31 March 2025 the Museum had three designated funds:
## **11.4.1 Collection**
From time-to-time items become available which it would be in the public interest for the Museum to be able to add to its Collection.
The open market value of such items (eg: at public auction) can be considerable, reflecting their general level of interest and value to the public.
Whilst the generosity of the Museum's donors is also considerable, the time that it takes to arrange for sufficient funds for the Museum to enable it to purchase an important item can be such that the item has already been sold before the Museum has arranged sufficient funds to make the purchase.
**Page 18**
A Charitable Incorporated Organisation
## **BUSHEY MUSEUM TRUST**
## **Notes to the financial statements for the year ended 31 March 2025 - continued**
The Trustees therefore believe that it is in the best interests of the public and the charitable purposes of the Museum to create and hold a designated fund to enable it to respond quickly when items of relevant interest become available for purchase.
Because of the impossibility of predicting when important artefacts will become available it is not possible to indicate the time-scale in which monies held in the Collection designated fund will be needed.
The fund stood at £89,561 at 31 March 2025 (2024: £89,561).
## **11.4.2 Refurbishment and development**
As previously indicated in the Trustees' report sections 2.3 and 5.2, because of the extensive contributions of volunteers, the day-to-day running costs of the Museum are disproportionately low relative to the Museum's annual turnover.
The Trustees believe, therefore, that it is in the best interests of the public and the charitable purposes of the Museum to create and hold a designated fund to cover the occasional costs of major refurbishments or extensions to the Museum's premises.
In respect of refurbishments of the existing Museum premises, the Trustees have set the current target value for the refurbishment designated fund at £100,000 to £150,000. The fund stood at £85,000 at 31 March 2025 (2024: £85,000).
Wherever possible (and subject to the requirement for appropriate liquidity) the monies in the combined refurbishment and redevelopment designated fund will be held in suitable income-generating investments.
## **11.4.3 Lighting and security**
In common with most museums, The Bushey Museum requires special lighting to both display the exhibits in the best way for the public benefit and protect delicate artefacts from damage by daylight or inappropriate artificial lighting. Inevitably such special lighting can be expensive both to purchase when required for new exhibits and to repair when malfunctioning.
The Trustees have, therefore, created and hold a designated lighting and security fund to cover expenditure on special lighting which is over and above that covered by the normal maintenance budget. The Trustees have set the current target value for the lighting and security fund at £2,000. The fund stood at £500 at 31 March 2025 (2024: £500).
## **11.5 Sundry debtors**
|Arising on pending shop transfer
Other sundry debtors
**s due within one year**
Professional fees (independent examiner)
Stock held in shop pending transfer
Other sundry creditors|**2025**
**£**
-
70
70
**2025**
**£**
840
-
-
840|**2024**
**£**
14,267
-|
|---|---|---|
|||14,267|
|||**2024**
**£**
1,044
9,267
180|
|||10,491|
## **11.6 Creditors due within one year**
**BUSHEY MUSEUM TRUST**
**Page 19**
A Charitable Incorporated Organisation
## **Notes to the financial statements for the year ended 31 March 2025 - continued**
## **11.7 Tangible fixed assets**
As set out in notes 11.1.2 (accounting policies) the Trustees' accounting policy in respect of tangible fixed assets is to write off all fixed assets in the year of acquisition. The reason for this is that the Museum's tangible fixed assets are principally acquired using grants or donations and this leads to distortions in reporting where the income used to acquire the asset is all in one year but the asset may be written off over a longer period. Therefore, this expenditure does not adhere to the matching principle directly as set out above or indirectly since the Museum does not levy admission charges or raise any other income against which the expenditure could be matched in the future.
## **11.8 Heritage assets**
|Carrying value at 1 April 2024
Additions during the year
Disposals during the year
Carrying value at 31 March 2025|**£**
84,500
-
-|
|---|---|
||84,500|
The Museum received a grant to purchase a Herkomer portrait in 2022 which is shown here. The Museum holds other donated assets which have not been recognised on the balance sheet due to the difficulty in valuing these assets. This is due to the fact that these assets are generally not traded in an open market and are generally of low individual value. The inclusion of these assets in the balance sheet is not considered significant to the users of these financial statements.
## **11.9 Investment in subsidiary**
Bushey Museum Services Limited is a wholly owned subsidiary of Bushey Museum Trust. The principal activity of the company is to run the Bushey Museum shop selling a range of greetings cards, publications and a large variety of other items both in the shop and on-line. All the profits of the company are donated to Bushey Museum Trust. The company's accounting reference date is 30 September.
The activities and results of the company have been incorporated into the Museum's results since last year.
## **11.10 Other investments**
The money we received from Grants in previous years was in the form of restricted funds and consequently, the Trustees decided to invest most of this money with an outside investment company specifically used by charities and recommended by our sister company the Friends of Bushey Museum.
## **11.11 Staff costs and numbers**
The average number of employees during the year calculated on the basis of full-time equivalent was 0.66 (2024: 0.66).
No employee received emoluments in excess of £60,000pa.
The Museum does not operate any pension scheme for its employees as they have opted out of this benefit.
## **11.12 Trustee remuneration and related party transactions**
No Trustee received any remuneration or reimbursement of out-of-pocket expenses during the year.
There have been no related party transactions during the year except as disclosed herein.