THE MUSEUhl OF RICHMONO
DIRECTORS. REPORT AND FINANCIAL STATEIAENrs
YEAR ENDED 31 MARCH 2024

INDEX
10
Slaternnt of F￿ar￿A81 AG*'¥ilws
12
BaPanc8 She
14
Nc*8s to Ihe FinarKial slate￿￿ts

THE MUSEUIA OF RICHMOK)
GENERAL INFORMATION
MUSEUM PREMISES AM)
REGISTERED OFFICE
The Obj Hall
vthrtlth￿ Avenue
Richmond. Surrey
TW9 1TP
COMPANY REGISTRATION
NUMBER
REGISTERED CHARITY NUMBER 295164
ROYAL PATRON
HRH PrwKess AleyAndra
PATRONS
Anfta Anand
Sir David Attw*orough OM
Ann ChapmaTrDaniel
Greville Dare
The L￿1 Fen￿￿ of IAknt Stknrd
Lady Annabel Goldsmilh
Lord Watson of Rthmond CBE
DIRECTORS
Ms N Mann {chair, Irryn 6 December)
Ms A Attebey
Ms G Bathng,
Ms A ChapMa￿￿1
R Chri5ti8
Plé H Clarte {resvJned 6 De¢4ts)
Mr D Feeney
Ms S van Haren '
The Lord Lee crf Traffcrfd DL
Mr B May (reS￿ned 6 Decemb8r)
Mr C Preston
Mr P Stoc&dale IwAnted 6 Decertlw)
HON. SECRETARY
Mr P Stc¢kd8
CUF14TOR
Ms L lThvin BA (Hons) Mst (to 22 September)
{F4)St vxant 22 September to 4 January)
Mr G Ens10￿ &4 {HO￿). MSC (fr(￿ 4 Januay}
THE MUSEUM OF RICHMOND Trustees..
TRUST
Ms R Christie- Chair
Mr P Cregeen
M5 S Goods
INtEPENDENT EXAMINER
Mr J Foxvnl FCCA FCIE
BANKERS
CAF Bank Ltd
N*p)nw*Je 8uldirwJ Society (dèpo%l ￿)unt)
Virgin Nkney {deposit &ccwnt)
The MUSEUM OF RICHMOND
1 Also known as Ms R 8ading
2 Also known as Ms S Lap

riRECTORS' REPORT
YEAR ENDeo 31 MARCH 2024
CONSTITUTION
The Mu$eum of Richmond, which is a registered charty, a ccKrpany w*hC￿t share wital. limited by guarant88, and
il i8 administered in accordarKe wilh its MemorarKlum and Art￿leS of As8ou*K￿.
OBJECTIVE OF THE CHARITY
The objective ollhe charity 5s lo advan¢e the edUCalK￿ ofthe in the local history d Richmond by the provisDn of
a museum. which was opened in October 198& In luthroiKe of those otiectives the Musaum was guided by the
following mission statement durir¥J 2023r24.'
'The of RichmorKI seeks to intery>ret and comrNnKxie matmial of Ri¢l¥nond's past
for th6 public's ber*rt education ￿loYMenr.
PUBUC 8ENEFrr
The dlrectOTS confimi that they have rBfeThed to Ihe gu*JarK* In ￿ Charity Comii88ion'8 g￿traI guKlance
on public benefrt as part of an annual exercise. TW have a150 re¥￿%￿d the oWNes and ¥lNiti9s of the MuseLM
and the manner in which it provkdes a public benefrt. indi•Jes.'
Caring ￿ and displaying a pemian8nt collection of hxal hi8tory provided free to all visitors.
Providing Iwo or three t8mporary eXhIbit￿n$ a year addl￿nal Sm￿1 exhibitions in which members
of the public are invofved.
Providing a wid&ranging educat￿￿ Servi￿ lo schocls col*s {including pupils with
special educational needs), families and aduls (inel￿￿￿￿ lif8hMg ￿arn￿9 for okler people).
Mathets'ng the Museum's SerV￿e5 to appeal to a dNerse aud￿.
Training and using volunteers in many araas of the Mu88um'8 pmNision.
. Working In part￿rShiP with other local orwisa1iL￿ to ￿hance the $8rvK
ORGANISATION
The dkectorn have ulwn*e rosponsibilty for al aspects Mus8um'swork. in pwtKular in detennining 8tralegy and
dyection. m￿ltOring progress ￿ relation to strabJr olpcti¥es and ¢he pthmanGe oflhe oryanisation.
The board of (Irectors must have not 18ss than fve. *KI nbye than 21 members. and meet$ four times a ye¥.
Dir￿lor8 can serve for not more than nine years. The chaw is ￿￿o￿ted for a maximum of five years. and continues in
office even if. as a consequence, nine-year limrt for di[￿t0[$ is exceeded. The directors are mostly kxal reS￿eThts
wFhJse knowwge aKI eyperience qualfy IIKrn for the m and are recruitthj thrcwgh invit*ion or arlverti88mant.
Th9 L¢Mdon Borough of R￿hrI￿￿Kl-upor￿ThaMes appoints one or two affj invite(I to board meetings in
an"ex-officKJ" capacty.
The daY-t￿daY operalv)n and admini5tTation c4 the Museum is car￿￿ out by the curator and the leaming off￿r
r8PQrting to the board. Voluntsry helpers *aff the adff¥ssion3 Counter and a￿ responsible for the sale of gcods in the
shop.

THE MUSEUM OF RICWND
DIRECTORS. REPORT (Continu￿)
YEAR ENDED 31 MARCH 2024
The drector5 in off￿8 from 1 Aprl 2023 to the date of the ap￿al ofthese f￿a￿la1 statements were:
Ms N Mann - Chair
Ms A Altelsey
Ms G 8arling
M$ A Chapman-Daniel
Ms R Christie
M8 H Clarke (resigned 6 De¢emb¥)
Mr D Feeney
MsSvanHa
Lord Lee of Tralfrxd DL
Mr B May (resign￿ 6 December)
Mr C Preston- Treasurer
Mr P Stockdale- Secretary (appointed 6 Decw
RISK MANAGEMENT
The major risks to which the charity is exposed. as Klerkn￿ by the Bowd. h￿e been reviev+*d as part of an ￿n￿al
exercise and systems are in place lo mrt*3ate these rtsks. A risk r￿¥Ster has been ¢reated and a risk management
policy set up. The risks with the h￿h¢st assessment {consvJerwig both IM￿ and ffikefihood) are sh￿n below. logelher
with acti￿$ and mibgat1c￿s.
Descrl
Dependence on income sources
allo￿A¢ll0n
Continue close eont&A wth the CourKil through
represthttatives on the Trustee board. Quarter￿ updates.
Continue to identrfy and irry)lement ways to di￿r$ify
income. FNe-year financial sustainabilty plan 15 in
develOpM￿t.
Annual Council grant for 2024r25 has been recei¥èJ.
Increase efforts to raise funds through instilutional
rants.
Fundraisi￿ to remain under constant revithv by the
Finarte Cc¥rniittee.' staff to be constantly vigilant for all
fundraising
opp¢ytunib"es.
FNe-year
financial
sustainabilty plan is in develoF4r*nt. Fundratsing also
"ontiwj in FoTh¥ard Plan 2023- 28.
Maintain liaison with the Council - be inclLbJed in future
plans ad¥L￿￿e for Ihe Museum.
L￿$¢ has teen rer)ewed until 2028.
Ne&J to identfy funding needs for future exhibitions and
likety funders, and cOns￿er this in lorMJ-temi exhibition
SChed￿e. Board will consKler ￿d￿ng frequgncy andlor
scale of exhibil*)rts if that would save costs.
8enefathrs Circk funds are avaiL4)le for use to meet
shortfalLs.
Shortfall on fundraisin9
Reduced space arKI resourc8S.
Future of Old Town Hall unkn(ywn.
Shortrall in granls for exhibitions due to
Ch￿9*n9 fvnding priorities

THE IAUSELIM OF RICTrthIOND
DIRECTORS. REPORT {Contlnu•d)
YEAR ENDED 31 MARCH 2024
STATEMEiif OF THE DIRECTORS. RESPONSIBLrnES
The directors are reswnsh)lefor Fryaring theAmud Rep￿t8Th￿tha fina￿la1 slatements #i ace￿an¢ewth appluble
law and regulaliorbs.
Company law requiRs the threciot5 to prep￿ ffiancial for each fnancial year which give a true and fa
view ofthe stale of affairs of the coryany and of the 8￿p￿S or defKit of the corypany forthat p¥*)d. In Preparing thos8
financial staements, the dirKtors are requ*ed to:
select suitable accounting policies and then apply them corristenty..
makejudgen*nl$ and e51imales that are fea$c￿abIe and prudent.,
prepare the finarKial statemenls on the going ¢on¢ern basis unless it is inapproprHle lo presume that the
ec￿panY conlnue in bus1r￿.
The directors. who a￿ directors for the pu￿1$e5 of co￿anY law trwlees the pwky)ses of ch*ity law, are
responstlle for keeping prop8r a¢￿Unting records that disclose with ￿4¥onable accuracy al any lime the financ￿1
po$ition of the ccrfnpany and to enable them to 8nsure Ihal the financial statements ¢oryly with the Companie5 Act
2006. Th8y are also resrM)nsible ftr safeguarding assets ofthe ccffj)any aThJ her￿ for takr¥J reasonable steps for
the prevenlicl) and deleeth)n of fraud and other irregularities.
RESERVES
Ur*e8tricted reseNes *a kept at a kvel whth wll Ctr¥tr ncrnl OpWati(M￿ costs for a pemd of at *5t three months.
At Cur￿llt bvels of gxp9nditure this is Set al £30.0￿. TIMS figure is cons•Jered the absolute minKnLMn to pemi( the
Museum lo opernle nomialty during thi$ p@lod without any further irtcthe. As at 31st March 2023 the unrestricted
reserves were £64.101 {2023: £56.947), the deS￿n81&1 reserves were £so.fxio {2023: £50.000) ar￿ the restricted
£11,984 (2023.. £11.986).
It is the irrtonli¢x of the diiectors to maullain reserves * a level ￿ere tPere is 5uffie*nt wver to ensure the p￿MiseS
are aKvays maintained to the standards generally eX￿￿j of a hxal rnuseum or ot￿r establishment for general
education.
FINANCIAL STATEMENTS FOR THE YEAR
Total incoming resourc85 for the year were £134.612 (2023.. £130.891). as fdlows..
2024
2￿23
LBRUT Grant
Other Gwts and donati¢￿$
Operating income induding
eduCat￿nal actNilies
24,645
29,967
34.148
16,743
134.612
130.891
Gr8nts
The Museum received a grant of £80,000 (2023.. £80.(X)O} frcth the London Borough of Rthmnd upon Thames
ILBRUTI, of wh￿h £53.￿oI2023- £53,000) was applied in hePpirvJ to meet salaries, £25.OC(J (2023.. £Z5.O¢XI) for rent
for occupation of the Old Tuwn Hall aThJ £2.￿oI2023." £2.LI)O> to pay buibjry security and other property costs. This is
unchanged from the prev¢ous year.

THE MUSEUIA OF RICHhlOND
DIRECTORS. REPORT Icontlnugd)
YEAR ENDED 31 MARCH 2024
Fundraising adwities
£10.23612023: £4.363) was from fvr¥Jrai5irvJ tslks and events. Netofcoststhis g￿erated £5,937 (2023: £2.617).
Outcom8 forth8 year
The Museum generated a net su￿lUs of £7.15212023.' £693) the ￿. There was a swplus on unr85tricled fvnd8 of
£7,154 {2023: £693) and a deftit of £2 on restrthd funds (2023. £0). There was no change vi Ihe level of deS￿nated
reservos.
Further detals can be found li thé Stat¢m8nl of Fmancial PdiVi￿ on page 11.
Chalrfs R•port
This year saw a good level of slabiity follthmng on frcrfn 2022r2023. wTrEre our tclal visitor number was 7.262 (3,990
walk in visitors). Totsl vi8iÉs in 2023f2024 w8re 8.307, whth ￿ude$ 4.839 walk4n vi$ilor¥. This has exce&led our
pre COV￿ figures of 20191202017,263 in t(*al, 4.444 in visitors). and compares favourably lo the rest of the
mu$eum Sector. It is encouragirvJ th* the se¢ond hawof 2023r2024 more vi5ilors than the same period in
2019r20, suggesting that numbers have notjust rturne(I to we£ovbJ leve15 bul are excegjing them. This stats'lty is
no doubl the resuh ofthe commitment and dedicatw of all those Sl4¥*Jl the Museum and Tis core offer as a
central cuf(uro1 Institutic￿ in RichmoTrJ.
Our leamir4J programme has b￿me a moiry feature olour O￿l0￿h COMMUn￿tI)rt *fjth the wider c¢Knmunty. In
2023r2024 we rnn 46 workshops al the Museum, 2 * Iccal schcds 2 online. wortting with 1,500 slud9nls, covering
everything from Prehistory to Wodd War Two. We also baned 23 DISCOV￿ Boxes lo schcds, enabl'ng 1.167 students
to have a mus8um experience in their own dassrooms.
Between 2023 and 2024. we ￿ 27 C￿5118 worksly6 kyfanilies in the sctth h)lidays, wh￿h attr*8d 437 attendees.
The workshops ¢ontinued their successful struclure of fLXuSr￿ on a ffluse￿n objec( exploring the Story behind this
object using th8 displays and handling cc4lect¥)n. and then ereating a ¢raft propct using the obj'ect and the story as
inspiration. In 2023r2024 themes inC￿ded The Rthmond IAl0￿hOuSe. Texti* knked to the Artir￿la1 Silk exhibition and
ghost stories lirthed to Richmond Palac*.
Vle ￿ 14 Coffee and Crafting workslys for aduAs this ythr. aitendwj ty 210 •Jults. Thi5 year the Progr￿nMe wag
suppc*ted by The 8*3 Green Week and The Full of Life Fund.
A further 7 outre&h tslks to ILxal groups were ddNer8d by ts PAuseum T￿m. as well as attendance al fa¥s and events
like the Rthmond May Fair and Noth￿1 Play Day. bolstered our offerrtrg. The￿ was also a Continu￿ gr￿￿h in our
social media presence wf(h daity posts from the Museum by our Museum stsff. Staff have Work￿ hard on creating
varied end eng4ing content bytsking pat in challenges h'ke". The 100-Day Pr(4ect and Museums 30,. creating a Museum
Advent Calendar: resewching Icca ghost stor￿5 for Ha104￿en. and sharing cortentfrom other projects like the athvork
Creat￿ by Richmond upon Thames College Art Students forthe Aitfftial Si* eXhibit￿n and thg art work created by 12
l¢xal $tudents dUrV￿ the summer schools in August 2023.
These achievements were the product of our tt¥o full twne Staff, and a team of over 30 volLmleers and other supporters
who help the Mu5eLwn q)erate. In temis d OUT full-lime staff. we appoint&J a new Curator and ExecutNe oifieer in
January 2024 to work alongsvjg our Lgarnrr¥ Officer. Fclthvin9 the fonT￿r Cur*orfs departure from the museum In
S8pl8mber 2023 and until the appointrnent of the new Curator n January 21r24, V￿Y McGrath &%wmed the interim
Curator and Exectslive Officer role. supp)rted by Ela Jack￿.
Thi$ year saw the exhibthon Artfficial &lk: Fr(wn Kewto the frcth June 2023 to June 2024. Opened by R￿hard
Deverell, Dwe¢t¢x of the Royal B(rtan￿ Gardens. Kew. trÉ exhibition was a great SLKcess and drew in over 4,000 peop
to view the exhilyl#)n and inspir&J a re￿ted prc*J[aM￿ of talks and wothshops at the Museum over th8 12 months.
The weekty Curatof lour, which is free lo the publt. becane a regLlw fealure of the Museum's Programming, tegulaty
cting vtsitors each week.
Fundraising Igmains a major aspect of the extra actNities that the Museum runs in addith)n to ils edLUtional purposa.
Tan our very 8uccesslul Gwden Paty in Jur* 2023. r¢tLwn¥¥J to Trwnffts House for a sold-oui surrffier event,
which attracled 213 wsitors and raEed nearty £4.tNXl of for ts museum. We al$0 offered tr40 highty successful

THE IAUSEUM OF RICHMOND
DIRECTORS. REPORT Icontlnugdl
YEAR ENDED 31 MARCH 2024
public talks in Autumn 2023. In s8￿mber 2023. Anthony Horo*ilz provided a tafK 239 visitors that raisèd £2.500 of
funds that We￿ sha￿ with the Richmond Swiety wthli e in Oct(*)er 2023 Zandra Rhodes attracted 280 attendees to a
talk titled, 50 Ygars of Fabulous. helping to raise over £3,500 for the museum. In March 2024 Graham Boygs prov•J
a talk, My Lrfe li Raiws.. From c￿￿sterIO Lahore.
Goveman¢o.' The Board continued with four meets"ng5 per year (Ma￿. June. September, and December). We co-
¢)Pted Ihrge new Trustees lo the Board in D￿e￿￿er 2023. *tho *ill be foThn&ly appx)inted al an EGM in June 2024.
The Chair, Hilda Clarke, retired from the Board in December 2023. Ntola Mann took over tenure of the Chair rde in
the same M*￿th. The Board conts"nugJ to carry 0￿ discussions wth th& Council over a potential nthv larger and more
sulable ￿me for t￿ ML￿￿m. The Board dso contriblrt￿ to the To*m Centre Engagement Report
Ipublished in January 2024) in conjunction with Vle PA>Je That. an architecture urbanism praeliee that sp8cialrLes
in town-cenlre strategies and research.
The Board conttnues its ThDrk on th? Fmvard Plan for 2023r28, ouUine8 the Museum's strategic aims and
Pfioftties for the next five years. The c{￿lents of a Plan armj assrKialed Acivjn Plans were approved by the Board
in March 2023.
One ofthe duties ofthe Board also in¥oW the regular rthryew of our pcAws inthding th8 annual upd81iNJ ofthe
Safegu¥ding policy, which is essential to cover ourwcAk w￿h all ages gr￿p$ that woth with the Musewn. All our
poli¢ies are on our webs*e for the pubhc to ex￿Ine.
Anothei one of our key d￿t￿s 15 ihe appointment of staff and in January 2024 we appointed a new Curalor and
Exeeutwe Offrerto the Museum. Gary Enslone. Gary replaces Lajra Ipwin. We a150 hosted a number of work
eXper￿nCe placements thts year. including *￿rtS frL¥n hxal schools. colw and St m￿Y'S Universlly.
PLANS FOR FUTIJRE PERIODS
Future plans, praposed by staff and Trustees aweed by the Board. are ikned by the Museum'$ ststed
ObjectNes and we mindful ofthe PuLlic Benafrt remit confeffed Musewn through ils status as a Charly.
Scthe spe¢ik plans fof the fulure aR".
Museum Accredltadon: The Museum will b8 fff4ryw*ing plans. wocedures lo en5ur8 that they are
ready for its next Accreditatxjn Relum (Arts C(wnal England). expe￿ed lo be due in June 2025, but owing lo the post-
Covid backkg it cO￿d be much bnger. All ¢k¢￿￿ental￿jn wll be continlkaltry revmved. so that museum is ready for
wheneverth8 limg comes.
eXhIt￿￿On$'.
Artificial Silk.. From Kffov to the associ*d acb¥tss: June 2023- June 2024
sh You Were Here: Frc*n Hor8ce to Ted Lasso: J￿M 2024- January 2025
An exhibition eyploring the gbbal links of Richmond to C0￿ch￿0 With the reaffiM1at￿n of the Councl twnnlng'& of the
town. Exhibitim to run January to March 2025. but designed in a pop-up cap*ty so rt can be reus&J during the
vinning celebrations.
Collectlons: A8 dis¢ussed with Ihe Muse￿1 CcAle¢*on's Tr￿ Ihe population ofthe ¢oltectK)n6 management
system will continu8, bulding on the recorrw￿nd81th?n$ induded ￿ the conservath)n audit report. Detail$ tsf more of the
Museum's artefacts will be made a¢ces$ible to th& public though ils eolledb)ns data)ase a)d through social media.
Thwe wa$ a review of tr* colleth.ons Trust in 2023. wJat*)g wr pr￿edures.
Learnlng: The Museum has an Acth)n Plan agreed by Bowd. L￿1￿ obi8CtNes for the folknving year are
d•taled in the plan agreed by th8 Board of Trust8e5.
Fundralslng: Each year we produce an Impact Rew1 to illustrate the of the Museum whKh we send out to our
Benefa￿or8 and major 8takehobJers in to hdp raise (wr proNe aNJ targot more financial support for Museum.

THE MUSEUM OF RICHMOND
DIRECTORS. REPORT (Contlnued)
YEAR ENDED 31 MARCH 2024
The Museum was wel $upp(rted durwry the Co¥TJ pandern￿ by 9)Ver1w￿ aThJ our Ictsl Council annual grant. Swi¢e
then our fundraising activities have b￿ne Ma￿ ¢ru¢ial aThJ we need to pursue more fun(ling lo cover rising costs
throughout 2023 and 2024. We also Icaik forward to irKreawr•3 rAI number of Fnends. Benefactcrt and Patr￿$ durirKJ
the next year.
Vlslbllty: We have been thing on Thwoved Ink$ with RthThv)nd Vc￿ntary ServK8s and the Cutture team at
Council a5 part of their plans to cr&*e a new Cuttural hub in Il'chmond. Our ties with the Local Cound ar8 extensive
and we conluiue to have a strong partnershp with its and as we wortt lo support our Ixal
communty.
Communlty: Our scho* prograffthe5 f￿lty wtykshops are wovuig $￿SSIu1. Similarty. our work with
communty group8 will continua these plans have been devehjped through our eXCe￿nt liik$ wilh the volunt*y
sector in Richmond.
Volunteers." Oue lo some recent volunteer retire￿￿ts, we are actNdy Ic￿king to r8Cn#t n￿re volunteers to our
suecessful ¥o￿nteer prtrjramme. Our volunteers en*le us to plan more &tN*ies within the Museum and impact our
Saturday opening hours.
Nicola Mann- Chair

INDEPENDEPIT EXAMINER'S REPORT
TO THE TRUSTEESI DIRECTORSI MEMBERS
OF THE MUSEUM OF RICHMOND ON THE ACCOUMTS
FOR THE YEAR ENDED 31 MARCH 2024
I repcrt lo th8 trustses M my examinalKJn of the ofttE Mu¥eurn of RKhmond forthe year eThY¢d 31 March
2024.
R05PeCtIvo responslbllths and ba81s of Yeport
As the charty's trustees (who tre alsolhe dir￿ oflhe ¢c￿Var￿ forlhe wrwsesc1c￿rv￿ I￿1. Y(￿ are resp￿￿10
forlhe preparatb)n Of1￿ aCC￿nts in ￿r￿eWth the requreTh￿nts Crynw¥es Act 20CE (the 20C6 Acti.
Having satisfied myself th81 the ￿c￿nts ofthe C(Thp*ry are rwuired lo be audrted for thi5 year under Part 16 ofthe
20C6 Act and are etigible for ￿dependent examinalK)n, I report in respect crf my exammiation ofyour ¢￿T￿$ aCC￿nts as
carried out under section 145 of the CharrtEs Act 2011 (Ihe 2011 Act). In c*rying out my examination. I have foll¢)Ned the
Dwe¢t*)n$ given by the Chanty Corfflir6SN)n (under secknn 145(5Xbl dthe 2011 ACL
Ind•p•nd•nl •xamkn•es gtatwn•nt
I have corrpleted my exanin*h)n. I ¢c￿f￿1 that no n*iia to my attention whrh gr4*s me cauge to
believe that
accourtWKJ reconls were not ke￿ li xccffdancewlh secl*)n 386 cl the Companies Act 2(￿.. or
￿Unts do accc¥d with s￿h reco￿s. CY
the xcounls do nol compty with relevarrt &c4iunlry S￿110￿ 396 of the Coryanigs Act
2(K6 clher than W￿rement th# ￿ xcounts gr¥e a farf vivw whrh is nol a mater
considw&J as part of the indeFendont eXa))*iat￿n". or
• th8 ￿COUnts have not bewb prepwed fft &coThl*Ke wlh Ihe ch*￿8$ SORP (FRS1021
I have no c¢￿CernS have ¢on* across ￿ othw m*lets i) corrn*•Jnwlh the eX￿Inal￿)n toWh￿h aitention sh￿Id
be dra4Yn in c￿der io enabl8 a propw urthrslandiNJ of the to be r￿hed.
Nane.. Jason Foxwel
Relevant professional qualrfication or bothy.. FCCA FCIE
Address.. 39 Enfield Ro•Y. P¢)olè. BH15 3LJ
Dae.. 13 September 2024
io

THE MUSEUM OF RICHIAOND
STATEMENT OF FINANCIAL ACTMTIES
YEAR ENDED 31 MARCH 2024
Unreslricbj ReStr￿ted
FurKI$
FuThJs
Totsl
Income from
Donations and Grants
Charilabb Actiwties
14.508
.137
104,645
.137
134.612
Expondlture on
Raising funds
Charilabb &tiv*ies
4,299
4.299
123 161
.139
Not Income lexpondlturnl
7,1fA
7.152
Total funds brought fop•Mrd
1(k.947
11.986
118 933
Tolal funds carrled for¥n
The breakd(Y•vn for 2023 is shcvm beiw.
Furbjs
FuThJs
Total
Income from
Donations and Grants
Chariiabl8 Adivit
18.614
16.743
114,148
16.743
130 891
95.534
Expgndlture on
Raising funds
Charitable actwities
1.747
32,917
1,747
128 451
95.534
Net Income (expenditur•l
Total fvnds brought forward
118 240
Total funds carrlod forward
106.947
11 J86
118 933
li

ThE PAUSEUM OF RICHMOND
BALANCE SHEÉT
AT 31 MARCH 2024
Company No. 2048888
2024
2023
CURRENT ASSETS
Debtors
Bank and cash balan¢o$
10.281
118,761
7,855
119.008
129.042
126.￿3
CREDITORS - falling due
wrthin crt year
12.957)
(7,9301
Nel assets
126.085
118933
RESERVES
Unrestricted- designated
Unrestricted- general
Unrestrided- total
64,101
114.1D1
$6,947
1CE,947
Restr￿ted funds
Total funds
126.085
For the year èrKling 31 M¥ch 2024 Ihe ¢(￿Y was entitled to exen¥Xion fr(¥n a￿Jit under 477 of th8
CompaiM8sAct 2006.
The members have not required the ¢anP￿ to an authl in &coffla1￿ wlh sectirjn 476 of the Cryani8sA¢t
20L￿.
The dyectots ac*nowledg• their r8spork5iWy for c(rylyr8 wlh the requiremenis oftheAct with respect to accounlng
racords and for thg preparation of accou￿%
Approved by the Bo¥d on 11th September 21f24 arKI signed on its behal ty:
N MANN
nn
Dwectors
C PRESTON
li
The Statement of Financial ACtr¥it￿, Statement ofcash FINS and Nrtes on pages 11 to 19 foTrn part ofthese ffinanGial
ststanents
12

THE MUSEUM OF RICHMOND
STATEMENT OF CASH FLOWS
YEAR ENDED 31 paARCH 2024
Yew El￿￿
3111 March
2024
Year Ended
31￿ March
2023
Net cash Inllow from opwating activitles
24
Change In ca8h and cash equival•nts Irb reportFng
period
Cash and cash equivalents at the beginning ofthe
reporting period
(24n
4.178
119.008
114,830
Cash and cash equlvalents at the end of the
reportlng perlod
118761
Roconclllatlon of not movement In fvnds to n•t
ash flow from operatlng actl¥ltles
IDecreaselllncre8se in debtors
(Decreaselllncrease in creditors
7.152
12.426)
14.973)
4,085
16001
Net cash us•d In operallng acllvllles
247
13

THE hlUSEUM OF RICHMOND
YEAR ENDED 31 PIARCH 2024
NOTES TO THE FINANCIAL STATEMENTS
ACCOUNTING POLICIES
The prin¢ipal accounting p￿S adcyted in the we￿1)n ofthesè fift￿tal state￿nIS are set out beknw.
al Basls of accounting:
The financial stslemerts have been Prepared uThJer Ihe historrnl (Tht convention, and in accordance with
the Financial R8porting Standards 102 IFRS 1tr2). the SLqtement ￿ Recommended Practice for Charities
IFRS 102) 2015 and tIE charl￿ Arl 2011.
bl Income:
All irKome is included in the of Fingncial Acli4ities {SoFAI when the tharity i51ggally entTtled to it
as income. ultimate receikx is probable and the amount to be recognis•J ￿ be quantffied with reasonable
accuracy. Nomial practsce Is not to tae ac£ount c4 tIE value of seryices or tacilities wovthd lo Ihe c￿litY
free of charge.
¢1 Expendlture:
Expenditure is reMgnwd on the ￿u81$ bass is dassthd in the WA undef headings that aggregate
rekgted costs.
d> Tangible flxed assets:
Th8 normal practice of the charty is to fumy depr&th any assets in the year of acquisilwjn.
•) Museum Exhibiis:
F¢y the purpose of Ihese accounls. no value 15 pl￿ on n7Jse￿)1 exl*)its, whether wrchased or donated.
ngrship of exhtjiis vests n the trustees ofts ￿￿￿m Trust.
fj Fund accountlng:
Unrestri¢ted funds may be used for general ch8418b￿ al the Ch￿￿$ discretion. Designated funds
are those set aside out of unrestricted fiJrKls for a purpose specified by the trustees. Restricbj funds are
those whefe the %*)ncff has im[￿Sed or agree(I lo reslrictkm. which are legally binding. orb Ihe use of funds
contributed.
gl Volunts•T¥:
No anounts have been induded in these statements to refhd se￿￿e6 kYovKled free of charge to the
Museum by vc4￿teer$.
h) Golng concern:
These accourts Iwe been prep*ed on a going corwn l)asis the trustees ¢OrtsKI￿ to be correct.
14

THE MLISEUM OF RICHMOND
YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMEt4TS (Contlnuod
DONATIONS AND GRANrs
Unrestricted ReslrKtad fund$ Oe5ignated
funds
Total funds
2024
LBRUT ￿an1
Artificial Silk eXh￿rtIOn grants
Coffee and Crafting athity donatic
MDO 3 learnir¥J grant
Heathrow Communtty Tnjst grant
General donati￿$
Benefactors Cird8
Gift ANJ claimed
Total
80.000
4,375
2,181
80.000
4,375
2.181
500
3.081
4,773
7,488
3.081
4.773
7.488
2.247
14.508
The breakdown for 2023 is shthvn bel￿..
UnTeslrrled Reslrthd fimd5 D8sNJn*e(I
fwids
fvnds
Total fund$
2023
LBRUT grant
Poppy Factc#y exhibiiion gra)ts
Artif￿￿11 Silk exhibition
Covhl-19 Support Grant
RPLC 4 leaming grant and donatnns
MDO S aUd￿nce (￿lOPMe￿ wt
Kickstart sehefne
AIMO Colle¢tion$ grant
Gongral donations
Benefactors Circle
Gift Abj cLqimed
80.000
5,000
625
6,000
951
400
7,148
1,410
3.248
7.495
1.871
114,148
s,0
625
951
4C
7.148
1.410
3.248
7,495
The thJs8um premisesare ma(le aVa￿ab￿tothe th*itybythe Bowh of R￿h￿nd u[￿ Tham95
ILBRUT). The Museum received a grant of £￿.(￿•0 {2023'. £80.OLN)I from the LBRUT to fvnd payment of
the rent and associated costs of ctcupying The Old Trrrtn Hall. Whittaker Avenue. RKhmond and a large
proportion of salary co$l$.
3 ￿￿eL￿ Df Lwdon
4 Rictrffiond Parish Lar*ts Char
5 m￿eL￿ of Lwdon De¥efwnerl Offir*
6 As8ocK•lpM ot IrMlepeThJèrti Musewyé
15

THE MUSEUM OF RICHMOND
YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Continued)
CHARITABLE ACTIVITIES
Uryestrthd Tctsl fijnds
fuThJs 2024
2024
uNeStri￿ed
nds 2023
Total funds
2023
Talks and events
Legactes
Subscriptions
Ed￿tIonal a¢iN#ies
HMRC Tax Relief
Other in¢ome ImteT85t and
shopl
10.236
10,2S8
4.362
4,362
769
8.818
4.761
696
5,706
3,780
8.818
4.761
5,706
3,780
2.199
5.383
29.967
2.199
16,743
16.743
£4,761 {2023.. £3.7801 was r￿￿ed from HMRC under the Museum and Galleries Tax Rekef scheme. This reths to
eypènd1tU￿ incurred on mounlirwj ten￿￿ exht*thns duriThJ 2021f22.
RA181NG FUNDS
fvnds
funds
ftjnds
2024
Talk3 and events
4.299
The breakdown for 2023 1$ $hwi belw.
Unrestricted Re5trict8d
funds
Total
funds
2023
Talks and events
1.747
1,747
16

THE MUSEUM OF RICHIAOND
YEAR ENDED 31 IURCH 2024
NOTES TO THE FINANCIAL STATEMENTS (Conllnuedl
CHARITABLE ACTivmES
Unrest￿ted Rost￿ted
funds
funds
Total
fvnds
2024
Museum costs
123 161
The breakdown for 2023 beltr*:
UNestricted Restricted
lunds
funds
Totsl
fuThJs
2023
Museum costs
128.451
STAFF COSTS
2024
2023
Salaries
Nat￿nal inswce contribulmx
Pensions
60.323 67,760
788
1,496
1,657
62.768 71073
The averag8 number of persons erryloy8J duriig the yearwas 2 FfE (2023.. 31. There wer8 no staff in either
the Current ￿ prior year whose &Th)lumenls exc88d8d £60.000.
The Museum pyovides a stakeholder pension lo the staff enybyed in &corda￿e wlh staluw obligation8.
There was no curator fc* over three mnths ￿ the year. During part of that tvr* a museum assistant was
empbyed at a l¢)wer. non-ws¥)nable salary. hence the reduckn in slaff costs. There was a150 a kickslart
emph)yee for part of 2022123.
Trustfye unoluments
No trustee in either the current or ptky year received any remunetikn. b￿efrt in kind or rem*+ursement of
expènses.
DEvfoRS
2024
2023
Tr&Je debtor5
Prepaid expenses
2.482
7,799
10.281
159
7.696
17

THE MLISEUM OF RICHMOND
YEAR ENDED 31 MARCH 2024
NOTES TO THE FINANCIAL STATEMENTS IContInu￿>
CREDITORS: amounts falllng due wlthin one year
2024
2023
Accruals and deferred inc<x)
Other Crethl
1,673
1,284
5,232
2.698
FUNDS
B￿eat1
Inc(￿￿/
ri12023 {ExpendibJre)
8akn¢e al 31
March 2024
Transfers
Reslricled funds-
DevekN>ment fund
FLFnds available frJr specthc
exhibiti￿5
Total restri¢ted funds
11.986
{21
11.984
11.986
<2)
11,984
Unrestricted funds
General fund
Designated funds
Display fund
Total designated funds
Total wrestricted funds
Total fvnds
$6.947
64.101
so.000
1 c6.947
118.933
50.000
114.101
126.085
7.152
The display fund. a d8S*Jna1￿ fvrKI. was est*thed in Marth 2022 with the purpo$6 lo upgrade the displays
and the Museum's public space, e41her in the cwrent kxatKin a r¢w one..
18

THE MUSEUM OF RICTrWOND
YEAR ENDED 31 MARCH 2024
N¢)TE8 TO THE FINANCIAL STATEMENTS Icontlnuedl
The breakdcwn for 2023 is shNn telw.
Balar￿ at 1
Incomel
Balance at 31
Aw"d 2Iy22 (Exp￿drtU￿) Tr￿sfer$ March 2023
Restricted funds..
Deveh)pmenl fvnd
Funds availabla f¢y specrfic
exhibitK)ns
Tota restrthd fuThls
11.Yd6
11.986
11.986
11.986
Unrestricted funds
General fvnd
Designat￿ fund5
Display fund
Total desynated knds
Total unrestricted funds
Total funds
693
1C6.254
118.240
1C6.947
118933
10. RELATED PARTY TRANSACTIONS
There woro no relaed transxtKM during the yew12023- Non2).
11. THE COLLECTION
The Museum's CdlectIc￿ is vested in The Musewn ￿ Rthn￿nd TnisL a eh•r**kn trust.
19