THE MUSEUM OF RICHMOND DIRECTORS. REPORT AND FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025
INDEX General Information Directors, Report 10 Independent Examinerfs Re 11 Statement of Financial Activilres 12 Balance Sheet 13 Statement of Cash Flows 14 Notes to the Financial Slalements
THE MUSEUM OF RICHMOND GENERAL INFORMATION MUSEUM PREMISES AND REGISTERED OFFICE The Old Town Hall Whittaker Avenue Richmond, Surrey TW9 ITP Website.. www.museumofriGhmond.com COMPANY REGISTRATION NUMBER 02048888 REGISTERED CHARITY NUMBER 295164 ROYAL PATRON HRH Prlncess Alexandra PATRONS Anita Anand Sir Davld Allenborough OM Ann Chapman-Daniel Greville Dare The Lord Fellowes of Wesl Stafford Lady Annabel Gold5rnith The Lord Watson of Richmond CBE DIRECTORS Ms N Mann (Chairl Ms A Attelsey Ms G Barling ' Ms A Chapman-Daniel Ms R Christie Ms A Evedey (appointed 12 June 2024) Mr D Feeney Iresigned 11 September 2024) Ms S van Haren Ms K Isaksen lappoinled 12 June 2024) Ms C Lang {appointed 12 June 20241 The Lord Lee of Trafford DL Mr C Preston (retired 11 December 2024) Mr P Siockdale HON. SECRETARY Mr P Slockdale CURATOR Mr G Enslone BA {Honsl. Msc THE MUSEUM OF RICHMOND Trustees: TRUST Ms R Christie- Chair Mr P Cregeen Ms S Goodsir INDEPENDENT EXAMINER Mr J Foxwell FCCA FCIE BANKERS CAF Bank Ltd Nationwide Building Society {d8posit a¢¢ount} Virgin Money Ideposil account) 1 Also known as Ms R Barfing 2 Also known a$ Ms S Lap
THE MUSEUM OF RICHMOND DIRECTORS. REPORT YEAR ENDED 31 IIARCH 2025 CONSTITUTION The Museum of Richmond, whith is a registered charity, is a company without share capital, limited by guaranlee, and it is administered in accordance with ts Memorandum and ArtiGle$ of Association. OBJECTIVE OF THE CHARITY The objeGlive of the charity is to advance the education of the public in the Iccal history of Richmond by the provision of a museum, which was opened in October 1988. In furtherance of Ihose objectives the Museum was gumjed by the following mission statement during 2024125.. 'The Museum of Richmond wks to preserve, interpret and communicate the material evidence of Richmond'$ past for the public's benefit, education and enjoymenr. PUBLIC BENEFIT The d1ClOr$ confirm that th&y have referred to the guidance conlained in th8 Charity Commission's general guidance on public benefit as part of an annual exercise. They have also reviewed the objectlves and activities of the Museum and the manner in which il provides a public benefit. whrch includes.. Caring for and dbplaying a p8manent collection of local history provided free lo all visitors. Providing two or three temporary exhibitions a year and additional small exhibilwjns In which memLvs of the public are involved. Providing a wide-ranging education servlce to schools and colleges {including pupils wilh special educational n8eds}, families and adults (including lifelong learning for older people). Marketing the Museum's serVIS to appeal to a diverse audience. Training and using volunteers in many areas of the Museum's provision. Wothing in partnership wilh other thal organisations to enhance the Museum's services. ORGANISATION The directors have ultimate responsibility for all aspects of the Museum's werk, in particular in detemiining strategy and dire¢tion. moniloriTWJ progress in relation lo Strateg objecllves and the performance of the organisation. The board of directors must have not less than five, and not more than 21 members, and meets al least four limes a y&ar. Directors Can Cufrenly serv8 for not more than nine years. The chair is appointed for a maximum of five years, and continues in office even rf, as a Consequence, the nine-year limit for directors is oxceeded. The directors are mostly Ioc81 residents whose knowledge and experience qualify Ihem for the post and are recruited Ihrough invitatn or advertisement. The London Borough of Richmond-upon-Thames appoints one or two councillors who are invited to board meetings in an 'exrfi¢io' capacity. The day-to-day operation and administrallon of the Museum is carried out by the Curator and the Leaming Officer reporting to the board. Voluntary helpers staff the admissions counter and are responsible for the sale of goods in the shop.
THE MUSEUM OF RICHMOND DIRECTORS. REPORT {Continued} YEAR ENDED 31 MARCH 2025 The diffjclors 6n ofllce from 1 April 2024 to 31 March 2025 were.. Ms N Mann Ichalr) Ms A Attelsey Ms G Barling M5 A Chapman-Danlel Ms R Christie Ms A Evedey (appointed 12 June 2024) Mr D Feeney (resigned 11 September 2024) Ms S van Haren Ms K Isaksen (appointed 12 June 2024) Ms C Lang {appoinled 12 June 20241 The Lord Lee of TraffoTd DL Mr C PTrslon Irelired 11 December 2024) Mr P Sto¢kdale RISK MANAGEMENT The major risks to which Ihe charity is exposed, as identified by the Board, have been reviewed as p*t of an annual exercise and syslfjms are in place to mttigate these risks. A risk register has been maintained and a risk management policy utilised. The risks wtih the highest assessmont (considering both impact and likelihood} are shown below, 109ether with aclions and mitigations. DesGrl lon Dependence on income souices Mlti ionlAction Reduction in Council's financial support for the next three years {202518) has impacted the Museum's financial suslainability and priorilising other means of fundraising are now a priority lo cover the shortfalls each year. Continue close contact with the Council through represenlalives On the Trustee board and increase efforts ID raise funds throu h ollw in5tilulional nls. Fundraising to remain under constant review by the board- staff to be constsnlly vigllanl for all fundraising rtunrties. Existing lease has been renewed until 2028 bul constraints on exhibition space, Storage space and opening hours continue to impede development of the Museum. Remaining ¢lose to the Council's evolving ans for the Old Town Hall site remains critical. Reduction in number of exhibitions is being consldered bul support from external source for current and forthcoming exhibitions has enabled these lo proceed. Need to identfy funding needs for future exhibllions and likely fundgrs, and consider this in long-temi exhibrtion Schedule. Shortfall on fundraising Reduced Space and resources. Future of Old Town Hall unknown. Shortf811 in grants for exhibitKJns due lo changing fundiNJ priorilies 3 Also known as Ms R Barling 4 Also known as Ms S Lap
THE MUSEUM OF RICHMOND DIRECTORS. REPORT Icontinuad) YEAR ENDED 31 MARCH 2025 STATEMENT OF THE DIRECTORS, RESPONSIBILITIES The directors are responsiblefor preparing Ihe Annual Report and the financial stslements in aCcordarwith applicable law 2nd regulatK)ns. Company law requires the directors lo prepare finan81 statements for @ach financial year which gNe a true and fair view of the stsle of affairs of the company and of the surplus or defiGit of the company for that period. In preparing those financial slalemenls. the directors are required lo.. select suitable aGGounling policies arKI than apply them nsIstenI1Y-, make judgements and estimates thal are reasonable and prudent. prepare the financial statements on the going conceTll basis unless it 1$ inappropriate lo presume that th8 company will continue in business. The directors, who are directors fcrf the purposes of company law and trustees for the purposes of charity law, are responsible for keeping propèr accounting reGords Ihal disclose with reasonable accuracy al any time the financial position of the ¢ompany and to enable them lo ensure that the financial statements comply with the Companiès Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking 8$onable steps for the prevention and detection of fraud and other irregularities. RESERVES Unrestricted reserves are kept at a level which will cover normal operational Costs for a period of at least three monlhs. At curTenl levels of expenditure this is sel al £30,000. This figure is considered the absolute mlnlmum to permit the Museum to operate normally during this p8riod wilhoul any further Income. As al 31 * March 2025 the unreslricled r8seNes were £79,87612024'. £64.1011, the designated reserves were £50.00012024- £50.0001 and the $trIcted £11.984 {2024.' £11,984). 11 is the Intention of the d1clOr$ lo maintain reserves al a level where there is sufficienl cover to ensure the premi$es are always maintained to the standards generally expected of a local museum or other eslablishmenl for general education. FINANCIAL STATEMENTS FOR THE YEAR Total incomiThJ resources for th8 year were £150,67812024.' £134,612), as follows- 2025 2024 LBRUT Grant Other Grants and donallons Operating income including edu&8lional activitrds 80.000 33.556 37,122 80,000 24,645 29.967 150,678 134.612 Grants The Museum received a grant of £80,000 (2024.. £80,000) from the London Borough of Richmond upon Thames {LBRUTI. of which £53,000 {2024- £53,000) was applied in helping lo meet salaries, £25,000 {2024.' £25.0001 for rent ft)r occupation of the Old Town Hall and £2.000 (2024.. £2,000) to pay building security and other property costs. This is unchanged from the previous year.
THE PAUSEUM OF RICHMOND DIRECTORS. REPORT (Continued) YEAR ENDED 31 MARCH 2025 Fundraising acfvvrfies £8,063 {2024.' £10,236) was raised from fundraising talks and events. Nel of costs thi$ generated £4,766 {2024.. £5,937). Outcome for th& year The Museum generated a net surplus of £15.77512024- £7.1521 for the year. There was a surplus on unrestricted funds of £15,775 (2024.. £7,154) aThJ no change in the l&vel of restricted fund5 {2024- £0}. There was no change in the level of designated reserves. Further detsils ¢an be found in the Statement of Financial Activities on page 11. ChaiVs R•port This year saw a good level of stsbilty following on from 202312024, where our total visitor Nmber was 6984. Total visits in 202412025 were 7.485. Visitor numbers have remained steady throughout the year, and this compares favourably to the rest of the museum sector. This stability is no doubt the result of the commitment and dedication of all those who support the Museum and its core offer as a central cultural institution in Richmond. Our Learning Programm8 continues lo be a major feature ofour outreach and communication with wider community. In 202412025 (as of March 2025), the Learning Programme income was £12,232.08. which is 144Yo of the largel income of £8,500. In 202412025 we ran 78 schools workshops at the Museum and 3 al local schools, working with 270 students, covering everything from Prehistory to World War Two. W8 also loaned 23 Dlscovery Boxes to schools. enabliThJ Students lo have a museum experience in their own classrooms. The Family Workstrys. meanwhile. which run as onsite workshops for families in th8 school holidays, attracted 430 allendees. The workshops continued their suttessful structure of focusing on 8 museum object. exploring the story behind this objecl using th8 display5 and handling collection, and th8n creating a craft project using the objeGt and the story as inspiration. In 202412025 Ihemes iluded Victorian Puzzle Purse Letters, Marvellous Money Boxe5 and Ghosts of Richmond Palar. We ran 16 Coffee and Crafting workshops for adults this year. attended by 138 adults. Themes this year included beading inspired by ? pair of Edwardian weddiro shoes. fabric block printing inspired by a printed tea towel, and croch81 flowers inspired by a vintage leafiet, all inspired by objects from our collection. Funding for the above workshops was sourced from various organisations induding.. £5 from the Museum Development Team to develop family friendly resources. £1,000 from Climate Actlon Mini Grants to support summer workshops,. and £500 from Art Society Richmond to sponsor summer school plai$. Further outreach talks lo local groups were delivered by the Museum team on subjects such ag The Story of Richmond Palace and The Story of Tourism in RKhmond. There was also attendance at fair¥ and events like the Richmond May Fair and National Play Day. bolslering our offering. Furthermore, the team offered 3 object-handling sessions with adulis with dementia on the themes of Toy$. Tudors, arKI Post War Homes. There was a conllnued growth in our social media presence Mth daity posts from the Museum by our staff. Staff have worked hard on creating varied and engaging content by taking part in challenges like the 100 Days Projecl and creating a Museum Advent Calendar, searching local ghost stories for Halloween, and sharing content from other projects like the arNvork created by Richmond upon Thames College Art students for the Wish You Were Here exhibrlion. This year also saw the birth of an educational partnership with Habrtats and Heritage, a Charity currently restoring the mausoleum of the VtOrIan explorer, Sir Richard Burton, and his wfe Lady Isabel in Mordake, As part of this outrèach collaboration, a talk was organized in December 2024 at the museum exploring 8urton's complex relationship with Islam. These aGhievemenls were the product of our full tlme staff, and 2 team of over 30 volunteers aTrJ other supporters who help Ihe Museum operate.
THE MUSEUM OF RICHMOND DIRECTORS. REPORT {Continued) YEAR ENDED 31 MARCH 2025 This year saw the exhibition Wish You Were Here.. From Hor8ce Walpole lo Ted L8sso, run from July 2024 to June 2025. The exhibition was a great success and drew in 7,458 people to view the exhibition 2nd inspired a related programme of talks and workshops over the 12 months such as the Museum Marvels lour. The weekly Curator tour, which is free to the public, became a regular feature of the Museum's programming, regularty attracting visitors each week. Fundraising remains a major aspect of the extra aGtivili8s that the Museum runs in addition to its educational purpose. We ran our very successful Garden Paty in June 2024. returning to Trumpeters. House for a sdd-out summer even( which attracted 246 visitors and raised £4.400 of income for the museum. We also offered a highly successful public talk in Autumn 2024. In September 2024, in conjunction with the Wish You Were Her8 exhibition. we hosted An Evening 'th Actor Nick Mohammed.. From Mr. Swallow to Ted Lasso. The evening was a great success wtth 150 tickets sold, generating £2580 of income overall. In lieu of a payment for Nick Mohammed. he asked that we donate to the British Red Cross, and we did so to the tune of £300. It is felt that this continues to be a very valuable fundraising m(NJal for the museum and one that we should continue with in the future. Govgrnan¢o'. The Board conllnued with four meetings per year (March, June. September. and December). Following the retirement of trustees, Clive Preston, in December 2024, we cr)-opled three new Trustees lo the Board in April 2025. The Board conb.nued to carry out discussions with the Council over a polentsa new larger and more suitable home for the Museum. The Board continues rts work on the FoNard Plan for2023128, which outlines the Museum's strategic aims and prioritK8S for the next five years. The contents of a new Plan and associated Action Plans were approved by the Board in March 2023. One of the duties of the Board also involved the regular review of our pollcles Including the annual updating of the Safeguarding pollcy, which is essential to cover our work with all ages and groups thal work with the Museum. All our policies are on our website for the public lo examine. We hosted a numb8r of work experience placements this year, including Students from local h0o1$, colleges and St Mary's University, Twickenham. PLANS FOR FUTURE PERIODS Future plans. proposed by staff and Truste8s and agreed by the Board, a informed by the Museum's stated Objectives and are mindful of the Public Benefit remit conferred on the Museum through its ststus as a Charity. Some spe¢rfic plans for Ihe futur8 are.. Museum Accrodltatlon: The Museum will be reviewing Its plans, pol£cies and procedures to ensur8 that they are ready for ils next Accreditation Return (Arts Council England), expected to be due in Autumn 2025. All documentation will be conlinually reviewed, so that the museum is ready for whenever the lime comes. Exhibitlons.. Artificial Silk.. From Kew to t1 World and asso¢Éated aclrvities: June 2023- June 2024 ish You Were Her8.. From Horace Walpole lo Ted Lasso.. July 2024- June 2025 Trailblazing w0nn in Sport. June 202&January 2026 ColleGtions: As dixussed with the Museum's Collection's Trust, the population of the collections management system will continue, building on the recommendations included in the Gonservation audit report. Delails of more of the Museum's artefaets will be made accessible to the public though its collections datsbase and through s(cial media. In May 2025, the Chair of the Collections Trust and the Chair of Ihe Board of Trustees wll discuss a new operating agreement between the Colle¢tions Trust and the Museum of Rithmond.
THE MUSEUM OF RICHMOND DIRECTORS. REPORT {Contlnued) YEAR ENDED 31 MARCH 2025 Learnlng.. The Museum ha5 an Action Plan agreed by the Board. Our Learning Objectives for the following year ae detailed in the plan agreed by the Board of Trustees. Fundralslng: Eh year w8 pro(Juce an Impact Report to illuslrale th8 work of the Museum which we send out lo wr Benefactors and major stakeholders in order lo help raise wr profile target more financial Support lor the Museum. In 202412025, we received regular £80.000 grant from the Councll. In February 2025. we reGgived the news that the museum would receive a funding cul from Richmond Council, a reduction of our annual £80,000 10 £60,000 for 202512026 with an agreement to continue funding at this level subject lo budget setting in 202612027 and 202712028. Our fundraising activili8s are therefore cnjcial and we need lo pursue more funding to cover rising costs throughout 2025 and 2026. Lcd residenl, Petina Haupttuhrer, agreed to become a patron of the museum in June 2024 and we look forward to Irueasing our number of Frnds. Benefactors and PatroD5 during the nexl year. Visiblllty.. Our ties with the local Council are extensive and w& continue 19 have a strong partnership with its MeMbS and Offr$ a$ we work lo support our local rA)mmunity. In November 2024. Cllr. Chris Varley was approved by the Council Finance, Policy and Resources Commrttee as a represenlalive of the council on the Museum of Richmond Management Committee until May 2025. Cllr. Vadey serves as the second council Board member at the museum alongside Cllr. fv"¢hard F¥ne. Community: Our schools programmes and family workshops are proving successful. Slmilarfy, our work with ommunity groups will continue and these plans have been developed through our excellenl links with the voluntary sector in Richmond. Volunteers.. Due to some recenl volunteer rellrernents, wg are activety kd(ing to recruit more volunteers lo our successful volunteer programme. LCal reGruitment events organised by Richmond CVS (Charity Voluntary Services) help in this regard. Our volunteers enable us lo plan more activities within the Museum anil impact our Salurday opening hours. We have recently recruited a new trustee with the responsibilty to liaise and engage with our current a1 potential volunteers. Nicola Mann - Chair
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEESI DIRECTORSI MEMBERS OF THE MUSEUM OF RICHMOND ON THE ACCOUNTS FOR THE YEAR ENDED 31 MARCH 2025 I report to the trustees on my examination of the accounts of the Museum of RhM0nd for the year ended 31 March 2025. Rospecv rosponsibilitios and basis of r•port As the charty's tNslees (who are also the directors of the Company for the wrFM)ses of company lawl, you are reswnsib18 for the pparatiOn of the accounts in accordance wlh the requiremen1$ of the Companies Act 2006 Ilhe 2006 Acti. Having satisfied myself that the accounts of the Company are not requlred lo be audited for this year under Part 16 of the 2006 Act and e eligible for independent examination. I report In respect of my examination of your charity's accounts as Carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carytng out my examlnatlon. I have followed the Directions gwen ty the Charify Commission (under $tIOn 14515Xbl of the 2011 Acl. Ind•pend•nt •xamin•r statèmènt I have completed my examination. I confimi thal no malerfal matters have come to my attention thich gives me cause to believe that: a(xounting records were nol kept in accordance with Sect 386 of the Companies Act 2006,. or the accounts do rt accord with such re¢ords,' or the lUnts (k not comply wth T8Vant accounting re9uirements of sectnn 396 of the Companies Acl 2006 other than any requirement that the accounts give a 'true and fair view which is rt a matter considgred as part of the independent examination., or the accounts have not been prepared in accordance with the Charrttes SORP (FRS102} I have no corKerns and have come across no other matters in ¢onne¢tKJn with the examination to which attention should be drawn in order10 8nabl8 a proper understanding of the accounts lo be reached. Jason Foxwell FCCA FCIE 12 Hillboume Road. Poole. BH17 7JB 10 Oclober 2025 io
THE MUSEUM OF RICHMOND STATEMENT OF FINANCIAL ACTIVITIES YEAR ENDED 31 MARCH 2025 Unrestricted Funds Restficted FuThl8 Notes Total Incomo from Donations and Grants Charitable Activitles 21,302 37.122 58,424 92.254 113,556 37,122 150,678 92,254 Expendlture on Raising funds Charitable Actlvities 3,297 39,352 42.649 3,297 131,606 134,903 92,254 92,254 N•t Income leXp*ItUr•} 15.775 15,775 Total funds brought fcrfward 114101 11,984 126,085 Total funds Garried fornar<l 141,860 The breakéown for 2024 Is shown below.. Unrestricted Funds Reslricted Funds Notes Totsl Income from Donations and Gran1$ Char[tae Activities 14,508 29.967 44.475 ,137 104,645 29,967 134,612 ,137 Expendlture on Raising funds Charitable activities 4.299 33.022 37,321 4.299 123,161 ,139 9),139 Not Income loxpendlturnl 7,154 12) 7,152 Total funds brought forwd 118933 Totsl funds carrlod forward 114101 li
THE MUSEUM OF RICHMOND BALANCE SHEET AT 31 MARCH 2025 Company No. 2048888 Notes 2025 2024 CURRENT ASSETS Debtors Bank and cash balances 8,914 135,101 10,281 118,761 144.015 129,042 CREOITORS - falling due within one year 12,156) (2,957) Nel assets 141,859 126.085 RESERVES Unrestricted - d85ignaled Unrestricted - general Unreslricled - total 50,000 64,101 114,101 79,876 129,876 R8slricled funds Total funds 11,984 141,860 11,984 126,085 For the year ending 31 March 2025 the company was entitled to exemption from aLMlil under section 477 of th8 Companies Act 2006. Th8 members have not required the company to obtain an audit in ardance with seclion 476 of the Companies Act 2006. The directors aGknowledge their resF)onsibility for MplyIng th the requirements of IheAcl wrth respect to accounting reGords arnl for th8 preparation of accounts. Approved by the Board on 18 September 2025 and signed on its behalf by.. N MANN DCtOrS A EVERLEY The Ststement of Financial A¢tNiities, Statement of Cash Flows aNI Notes on pages 1410 19 ft)rm part of these financial stslemenls. 12
THE MUSEUM OF RICHMOND STATEMENT OF CASH FLOWS YEAR ENDED 31 MARCH 2025 Year Ended 31 St March 2025 Year Ended 31 * Mar¢h 2024 Nèt Inflow from operatlng aCtitIO8 16,340 247 Change in cash and Gash equivalonts In reportlng period Cash ar cash equNalenls at the beglnning of the reporting period 16,340 1247) 118,761 119,008 Cash and cash equfvalonts at the ond of the rgportlng poriod 13S101 118,761 ReGonclllatlon of net movgmont In funds le n•t cash flow from operating activitiOS {De¢SSeIncrease in debtors (Decreaseylncrease in CreditcS 15,774 1.367 (801) 7,152 12,426) 4,973) Net cash us•d In operating activitle$ 247 13
THE MUSEUM OF RICHMOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS ACCOUNTING POLICIES The prinGipal aGGounting policies adopted in the preparalictrn of these financial statements are set out below. a) Basls of aGcountlng: The financial statements have been prepared under the hi$lorical cost convention, and in accordan with the Financial Reporting Standards 102 (FRS 102), the Statement of Recommended Practice for Charities IFRS 10212015 and the Charities Act 2011. b) Income.. Al income is included in the Statement of Financial Activities ISOFA) when the charty is legally entitled lo it as income, ultimate receipt is wobable and the amount to be recognised can be quantified wrth reasonable acGuracy. Normal rffactice is not to take account of the value of $ervi¢es or facilities provhyed lo the charity free of charge. c) Expendlture: Expenditure is recognised on the accruals basis and is clas$rfled In the SOFA under headings that aoJregate related costs. d) Tanglble Ilxed assets: The normal pr8clice of the charity is lo fulty depreciate any assets In the year of acquisition. e) Museum Exhlbits: For the purpose of these aCnts. no value is placed on museum exhibits, whether purchased or donated. Ownership of exhibits vests in the trustees of the Museum of Richmond Trusl. Fund accountlng: Unrestricted funds may be used for general charitable Pufposes at the charity's discretion. Designated funds are those sel aside Out of unreslricled funds for a purpose specled by the trustees. Reslricled funds are those where the donor has imposed or aged lo reslriclions. which are legally binding, on the use of funds contributed. g) Voluntggrs: No amounts have been included in these statements to refiecl the services provided free of drge to the Museum by volunteers. h) Going ¢oncgrn: These aGcounls have been prepared on a goirKJ conc8rn basis which the trustees consider to be correct. 14
THE MUSEUM OF RICHMOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS {Continued) DONATIONS AND GRANTS Unreslricte(I fvnds Restricted funds Designated funds Total funds 2025 LBRUT grant Tourism exhibition grants Coffee and Crafting activity donations MDO 5 learning granl Heathrow Community Trust grant Cllmate Action grant Arts Society grant Galleon Foundation grant General donations Benefactors Cirde Gift Aid claimed Total 80,000 8,325 1.459 500 470 1.000 500 80,000 8.325 1.459 500 470 1,000 500 5,000 7,952 5,988 2,362 113,556 5.000 7.952 5,988 2,362 21,302 92.254 The breakdown for 2024 is shr)Ym below". Unrestricted funds Restricted funds Designated funds Totsl fvnds 2024 LBRUT grant Artrficial Silk exhibition grants Coffee and Crafting activity donations MDO 8 learning grant Heathrow Communty Tnjst grant General donations Benefactors Cirde Grfl Alé claimed Totsl 80.0(K) 4.375 2.181 80.000 4,375 2.181 500 3.081 4.773 7.488 2.247 3,081 4,773 7.488 2,247 90.137 The Museum premises are made available to the ¢harty byt London Borough of Richmond upon Thame8 {LBRuT). The Museum received a grant of £80,000 {2024'. £80,000) from the LBRUT to fund payment of the rent and associated costs of ocixjpylng The Old Town Hall, Whittaker Avenue, Flichmond and a large proportion of salary costs. 5 Museum of Lornlon Developmgntotficè 6 Muswm of London DeY¢lopmentOffic8 15
THE MUSEUM OF RICHMOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS Icontilluod) CHARrrABLE ACTIVITIES Unrestricted Totsl funds furKls 2025 2025 Llnreslri¢ted fijnds 2024 Total funds 2024 Talks ?rNJ events Legacies Subscriptions Educational activities HMRC Tax Relief Other income (interest and $hop) 8.063 8.063 10,236 10.236 717 12,503 10.108 717 12,503 10.108 769 8.818 4.761 769 8,818 4,761 5,731 37.122 5.731 37.122 5.383 29.967 5.383 29,967 £10,108 {2024.' £4,761) was received from HMRC under the Museum and Galleries Tax Relief scheme. This relates to expeIlture incurred on mcrtjnting temporary exhibitions during 2023124. RAISING FUNDS UnStrCled Reslricled funds fvnds Total funds 2025 Talks and events 3.297 3,297 The breakdown for 2024 is shown below: Unrestricted RestriGled funds funds Totsl fvnds 2024 Talks and events 4.299 16
THE MUSEUM OF RICHMOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continugd) CHARITABLE ACTivrriES Unre51ricted RestriGted funds funds Total funds 2025 Museum cosls 39.352 92,254 131.606 The breakdown for 2024 is sho% below.. Unrestricted Restricted funds lunds Total funds 2024 Museum costs 33.022 123 161 STAFF COSTS 2025 2024 Salaries National insuran¢e conlnbutions Pensions 65,263 1,496 60,323 1,657 The average wmber of persons employed during the year was 2 FfE (2024.. 21. There were no staff in either the current or prior year whose emoluments exceeded £60,000. The Museum provide5 a stakeholder pension to the staff employed in aGcordance with statutory obligations. TNsteo emolum•nts No trustee in either the current or prlor year recelved any remuneration, benefit in kind or reimbursement of expensÈs. DEBTORS 2025 2024 Trade debtors PrepaKI expenses 837 8.077 8.914 2.482 7.799 10.281 17
THE MUSEUM OF RICHPAOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued) CREDITORS: Jnounts falling duo wlthin on• year 2025 2024 Accruals and deferred income other Creditors 459 1.697 2,156 1.673 1.284 FUNDS Balance al 1 Incomel April 2024 {Expenditure) Balance at 31 March 2025 Transfers Restried funds.. Development fund Fund5 available for specrfic exhibitions Totsl rgstricted fund5 11.984 11,984 11.984 11,984 Unrestricted funds General funL1 Designated funds Display fund Total designated funds Total unreslricled funds Total funds 64.101 15.775 79,876 50,000 50.000 129.876 141,880 114,101 126,085 15,775 15,775 The display fijnd. a design8led fund, was established in March 2022 with the purpose 'to upgrade the dtsplays and the Museum's public spa, either in the current lo¢ation or in a new one.. 18
THE MUSEUM OF RICHMOND YEAR ENDED 31 MARCH 2025 NOTES TO THE FINANCIAL STATEMENTS (Continued The breakdown for 2024 is shown Wow: Balance at 1 IrKomel April 2023 {Expendlture) Balance al 31 March 2024 Transfers Restricted funds.. Development fund Funds available for specthc exhibitions Total restrKted funds 11,986 (2) 11,984 11,986 (2) 11,984 Unrestricted fvnds General fund Designated funds Display fund Total deslgnated funds Total unrestre funds Total funds 56.947 7,154 50.000 50.000 106,947 118,933 7,154 7.152 114,101 126.085 10. RELATED PARTY TRANSACTIONS There were no related party transactions during the year {2024: None). 11. THE COLLECTION The Museum's Collection is vested in The Museum of Richmond Trust. a charilable trust. 19