od(s A(1 REGISTERED NUMBER: 02108180 CHARITY NUMBER: 297397 Trustees. Report and Financial Ststements for the Year Ended 31 March 2025 crry DISCOVERY CENTRE CITY DISCOVERY CENTRE Contents of the Flnandal Statements Page Reference and administrative details of the Company* Its Trustees and advisers Trustees. report 3-22 Independent auditors, report on the financial ststements 23.28 Consolidated siatement of financial acti￿￿e$ 29 Consolldated balance sheet 30-31 Company balante sheèt 32-33 Notes to the finandal statements CITY DISCOVERY CENTRE IA company limited by tuararrtee) REFERENCE AND ADMINISTRATIVE DETAILS OF THE COMPANY, ITS TRusfEES AND ADVISERS FOR THE YEAR ENDED 31 MARCH 2025 TRUSTEES Professor D Lotk. Non*xecutive president P Cox, Trustee, Chair S P Crowther, Trustee J Lloyd, Trustee B Adams, Trustee R Exton. Trustee P Martin, Trustee M Petchey, Trustee COMPANY REGISTERED NUMBER 02108180 CHARifY REGISTERED NUMBER 297397 REGISTERED OFFIC The Farmhouse Bradwell Abbey Milton Keynes MK13 9AP COMPANY SEcR￿ARy Dr N M James CHIEF EXECUTIVE OFFICER Dr N M James AUDITORS Harri5 & Co IAccountsntsl Ltd, Statutory Auditor 2 Pavilion Court 600 Pavilion Court Northampton NN4 7SL CITY DISCOVERY CENTRE {A company limited by Buaranteel TRUSTEES. REPORT FOR THE YEAR ENDED 31 MARCH 2025 The Trustees present their annual report together with the audited financial statements of the City Discovery Centre for the year l April 2024 to 31 March 2025. Introdurtion to the Charity Office Address Milton Keynes City Discovery Centre la150 known MKCDC or CDC) has been based at the Scheduled Ancient Monument (SAMI site of Bradwell Abbey Ino.190621 in Milton Keynes since 1992. The physical office address is The Famihouse, Bradwell Abbey. Alston Drrve, Milton Keynes, MK13 9AP. Charity Registration Detsils The registered Charity number is 297397 and the subsidiary Trading Company registration number is 3431035 with the VAT number.- 737420341. 8ankers, Solicitors and AuditW5 Bankers- HSBC119 Midsummer Place, Milton Keynes) and CAF Bank1125 Kings Hill Avenue. Kings Hill, West Mailin& Kent. ME19 4JQ) Solicitors- Geoffrey Leaver Solicitors LLP 251 Upper Third Street, Bouverie Squa￿, Milton Keynes, MK9 IDR Auditors- Harrts & Co (Accountants) Ltd, 2 Pavilion Court, 6¢XI Pavilion Drive. Northampton Business Park, Northampton, NN4 7SL Charity Information MKCDC was establishèd in July 1987 as a registered Educational Charty with a not-for-profit subsidiary trading company (City Discovery Centre Ltd), which was started on a￿lce received from the Charities Commission. The trading company is limited by shares and all surplus funds generated are passed on to the charitable arm to fund and/or subsidise its work and delivery. The subsidiary trading companvs 501e purpose is thus to utilise the site and facilities at Bradwell Abbey (where it was purposefully plated by the CNT to utilise the site for this purpose and act as rts custodian) and its skills base to generate income to enable the Charity to carry out its charitable objectives. The Charity is governed by a Memorandum and Articles of Association that were last amended on the 15th of January 1998. The current organisation represents an amalgamation of two earlier community initiated bodies i.e. the Milton Keynes Urban Studies Centre Iwhich focused on urban environmental education, including urban history and geography) and the Bradwell Abbey Field Centre Trust (focused on archaeology, natural history and environment). We aim to address these broad focus areas in the services we deliver as the Milton Keynes City Discovery Centre. crry DISCOVERY CENTRE (A Company limited by guarantee) TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Obje¢ttves and artivities a. Charitable Objertives The Milton Keynes City Dis¢overy cent￿'S Primary Objective is to promote 3 greater appreciation and understanding of the historical. natural and built environments of Milton Keynes. b. ActNlties and Ser¥lces To promote our charitable objectives, we are constantly monitoring the relevant school curricula and a150 the education31 attainment needs of our client5. We often have to be responsive and have made continuing changes to our educational materia15 and areas of delivery in the last year because of changing nature of our customers. In pursuit of its charitable, educational, heritage and community objecttves. MKCOC aims to-. promote geography and history 35 areas of study in schools.. promote careers related to geography and heritage/ history- promote heritage experiential learning through heritage re-enactment. drama and storytellin promote geography experiential learning through tity tours. site visits and fieldwork: promote educational programmes and activities to support all leve15 of learning in urban studies and sustainable development,. promote urban Beography and urban planning/design using Milton Keynes as a Iwing model: inform and educate the public about urban geography. urban planning/design and urban sustainability,. and how these impact on their lives and future development of Milton Keynes,. deliver programmes related to the natural environment. environmental studies and landxape architerture- maintain the Milton Keynes New Towns Archive and Reterente Library which includes a large component of Milton Keynes Development Corporation's material and material about the continued and future development of Milton Keynes.. man8ge and maintain the Bradwell Abbey Scheduled Ancient Monument site in partnership with the Mllton Keynes Council Ithe site owners) for the benefit of the people of Milton Keynes.- host a variety of arts, music, cultural and heritage open days and community/public/family events on the Bradwell Abbey site,. and deliver programmes for people from all over the world refletting the Social heritage. urban and cultural development of Milton Keynes as the LJK'S most successful New Town. CITY DISCOVERY CENTRE (A Company limited by guaranteel TRU5TEES' REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Objertives and artivitles (coirtinuedl c. Facilitie5 and Site Resources 8r3dwell Abbey is the site of a Medieval Benedittine Priory and still contains the remains of a variety of ancient buildings and a number of medieval fi"5hponds. As a Scheduled Ancient Monument and a Community Related Asset the grounds of the site are open to the public. The latter designation reflects an understanding that the management and use of the site will be orb a not-for-profit basis and for the benefit of the people of Milton Keynes. MKCDC is also responsible for the oversight management of the SAM site, with the a5SlStance of Milton Keynes Council. The Bradwell Abbey site is also of environmental Importan￿ as a non-ststutory Biological Notification Site as there ha5 been evidence of an extant colony of Great Crested Newts. Pipistrelle (Pipistrellus PIP15trelluslpygm3eusl and Brown Long-e3red IPlecotus auritusl bats recently and in the past. Recent surveys ndicate the evidence of at breeding and roosting bats in the farnihouse, possible bat artivity in the chapel, and extra bat activtty on and around the srte. The extensive scrubland, woodland and four ponds also support a number of small but important ecosystems and a variety of bird life and are used for a range of educational and public events. In 1997, CDC was given a 25-year lease on the 12-acre site, whrch is owned by the Milton Keyne5 Council, with an option to renew for another 25 years in the futLtre. This option has now been updated to a 99-year lease, and the draft lease, signed by CDC and Milton Keynes Cvty Council in November 2022. The Bradwell Abbey site has suffered serious dilapidations over a long period and there has been urgent need for repairs, maintenance and improvements to bring the site up to standard and to turn it into the heritage and visitor destination it should be. After the unsutcessful Heritage Lottery Fund Bid in 2014. MKCDC ha5 worked in partnership with Milton Keynes Council (the landowner) to help them fulftl their statutory obligations towards the Scheduled Ancient Monument 51te and bring all the buildin8s on site up to an acceptable standard of repair. The ongoing negotiations have now resulted in Milton Keynes Council continuing to completFon 3 capital works budget of around £800,000 ar+d awarding the contract for the repairand restoration works to Cliveden and ModPlan. SAM consent was grar¢ted by Historic England and enabling works to conserve and repair both the chapel and the farmhouse completed. with the second of the two stage conservation process also now completed and signed off. Outstanding works remain on the cattle hovel and the Gatehouse have now been completed. CDC has now taken responsibility for these under the new maintenance and repairing lease contrart. These works will ensure MKCDC'S ongoing presence on the Bradwell Abbey site and its continued Servi￿ delivery to the people of greater Milton Keynes. Most of the buildings and facilities on the Bradwell Abbey site are used to generate income for the Charity and provide facilities for use by educational institutions. the general public, Third Sector and local community organisations in greater Milton Xeynes. The Director, Staff and Trustees continue to work with a number of key partners, interested parties and advisors to optimise the utilisation of site and its facilities. Although the tontinued conservation works on site have recently hindered its full utilisation. these are now complete and we have employed various new strategies alongside a flexible Business Plan to boost income and improve customer numbers. MKCDC ha5 maintained a key finanoal aim again in the last year in a safety net reserve that could cover all our liabilities or costs for a minimum of 12 months- normally we would aim for 18 months but the onservation works were costly_ There are. however. no further major commitments this financial year. During 2024-25. CDC were successf4Jl in maintaining income and normal business artivities, and future forecasts show recovery from completed maintenance works. CITY DISCOVERY CENTRE IA Company limited by guarantse} TRUSTEES, REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performance a. User5 of our centre The following community groups were users of the facilities 3t Bradwell Abbey during 2024/25. Group Type of use Group Milton Keynes Natural Type of use Meetings MK Forum History S¢ciety Base & meetings Bradwell Abbey Scouts Mèetings MK En¥lronmental Partnership Bradwell Abbey Friends RSPB Wildlrfe Explorers InterdCtion-MK Arts&Heritage Association Meetings ECG Meetings Juke Box MeetinEs and events MKHA Meetings and Events David Lock Asso¢iation Meetings and Training Toast Masters Some local commercial companies used 8radwell Abbey for both training and other events. Meetings Inter-Artion MK Abrahamic Women Liisa Clark Art5 MK National Trust Meetings and Workshops Meetings and Workshops Arts Eventslexhibitions Meetings Meetings Meetings and event space Education session5 Meetings and craft sessions MK Council Heritage MK CLASP Crafters World Vlsion Meetings Meetings Meetings Events Meetings b. Our Sources of Income MKCDC derives income from a number of activities and services listed below: Rental income and room hire income from commercial and voluntary sector accommodation at Bradwell Abbey. Income generating activities that relate to providing educational service5 to schools. universities as well as professional and community groups. Income generating activities that relate to putting on large-scale events in the heritage, art and cultural sectors for the general public and people of Mifton Keynes. We now have one SLA with Milton Keynes City Council- linked to an annual £15k grant to deliver archive service5 additional to those already under our remit. We also have long-term clients using our foreign delegate lectures and tours. 3$ well as venue hire clients. This year the greater part of our income has been through a rejuvenated business programme along with heritage-focused grants. Commercial actwities and venue letting by the City Discovery Centre (Trading) Co. Ltd., a commercially oriented company and wholly owned by the Milton Keynes City Discovery Centre with the sole purpose of generating income, with which to subsidise or pay for the educational and community activities of the Charity. A consolidated finanaal report has been prepared that includes the City Discovery Centre ITradingl Co. Ltd and specific details can be obtained by contacting1019081227229. CITY DISCOVERY CENTRE IA Company limited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perforniance IcoThtinued) ¢. Tenants at Brathmell Abbev During the year ended 31 March 2025 the Milton Keynes Crty Discovery Centre held commercial sub-lease agreements with the following companies.. Bakehouse- Your Local Ftyer Red Barn- ECG Gatehouse- ECG David Lock Building - ECG We further held a number of sub-tenant licences with charitsble or not-for-profit groups based in the Farmhouse, where CDC now has its offices. They are.. Become (Photography and Graphic Arts) Arts & Heritage Association Inter-action MK A number of other Charities use us as their meeting base and postal address- e.g. MK Forum, MK Natural History Society, MK National Trust, MK Public Arts Trust. Fred Roche Foundation, and Urban Eden, to name a few. The tenants continued rental in cottages 1 &2,. in the financial year beginning April 012024 Cottage 2 has been ￿- tenanted at a 5(MYh rental increase following recent ￿furbIshMent works. Cottage I became vacant in January 2025 8nd is pending some refurbishing works due to start I the 2026/7 financial year. CITY DISCOVERY CENTRE {A company limited by 8uarantee} TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and performance {contlnued) d. Education Deliveryi Activities and Achievements The organisation and delivery of educational activities and outreach constitutes a significant portion of the Charity's Aims and Objectives. To this end. MKCDC continues to deliver the following learning activities and sessions for schools. universwties and community groups. These have now been taking place both online under our new digital offer. and in person once more= Geogrophy ond Urban Development Settlement- various topics at various educational leve15 Explorin8 the reasons for settlemente5tablishment.the Itnks between settlement and planning in history e.g. the Roman period and how we might do it todav.. Development of infrastructure- retailing.. housing andlor employrnent in local settlements- ComparinE settlements from local to 8k>bal Contrasting Localities-. comparing the history. demographits. etc. of the visitorfs home localtty with modern Milton KÈynes.' The history of the development of Milton Keynes covering the context. the plannin& the financing, the process, etc.- Planning a sustainable city- the case of Milton Keynes within a wider worldwide perspective.. Environmental decision making for sixth forrn students.. Study tours and Jectures 5pecrficalty themed at the needs or interest of dients ItopTt5 range across urban planning. transport, recreation, retsilin& environment, recycling and sustainabilrty. catchments management),. Briefings and workshops for plannin8 professionals and policy makers- Map readin8 and orienteering. History octivtities Pre-history- stone, bronze and iron age c¢)vering Boudicca. technology development, cave paintin& homestead and buildings, social context- Romans- hands-on sessions including= life in the Roman amy. a Roman banquet. Roman gods. life at a Roman villa. Rornan household. Roman Technology ènd Innovation- Anglo-saxons and Vikings-art. literacy & poetry. runes and place names. important dates and characters, warriors and shield makinB. homestead & pottery- Medieval - hands-on sessions including.. mediewal cookin& a Medieval pilgn"mage. life as a monk in è medieval monastery. trirne & punishment. general medicine. Bradwell Abbey site htstory.. Tudor- hands-on sessions including.. . Tvdor cookin& Tvdor beliets and superstitions. Tudor household management. games, huntin8. mummers play, dance. Life of a sailor in the Royal Navy èt this time- crime & punishment. general medicine. Bradwell Abbey site history.. Vittorian schools and lifestyle are a new addition to the programme: Ancient E8VPtian Activity has now been added to the programme,. Archaeology and handlitsg collection work- we have a hanllling collection of finds and artefacts dating back to Roman time5 and some fossils going back even earlier. New Town bespoke activities for schools as well as joint New Town events. Local history- various topics at various KS levels= The history of the Bradwell Abbey site.- A comparative study of 8radwell Abbey, Bradwell Villaee and New 8radwell.. The moderr) history ol Milton Keynes,. Urban Planners of the Future,. The Good City Projett. funded by the National Lottery HeritaEe Fund. has now been completed. The Milion Keynes Museum 50 Project. which began in 2023 and will continued into late 2024. CITY DISCOVERY CENTrE {A company limited by guarantee) TRUSTEES, REPORT {coMfiNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achlevements and perfomian¢e (continued) Speciol Educotionol Needs Providing work experience for young challenged adults on site. Activities have continued on site but a mostly now tèking place through our digital programme. We have ￿gun new WO￿ with Milton Keynes College working Wlth disengaged and excluded students. We are now offering an ongoing work experience programme with Stephenson Academy. We now host a craft therapy programme in the grounds on Mondays with a local medieval potter. EnvironmentolArtivities Various environmental and sustainable city aspects have been built into the Geography and City Planning presentation, lectures and tours,. A number of environmental learning sessions and events have been undertaken with key partners on site,- Plant and wildlife identifltation sessions by experts,- Educational Objectives ondStrutegie5 The key educational objectives remain the same and are aimed at delivering an out-of-the-classroom experiential learning opportunity for learners. supporting teacher in their teachin& including our new digital offer. whith includes high quality downloadable rewurces and videos,. Another key objective is to get more schools, especially local schools, to make use of our sernices. DLFe to increasingly unaffordable travel / bus prices we have increased our outreach into schools as many can no longer afford to ¢ome to us at Bradwell Abbey. This has been particularly successful through the new digital offer. This method has worked this year as school visits have increased and are generally over subscribed. Our key strategies, identified 2014-IS, remain the same and are: o to be a quality delivery agent o to stay relevant to the ojrricula o to be seen as good value for money o to make optimum use of building and other facilities on the Bradwell Abbey site. Embrace a strategic approach to the anticipated changes in the curricula and work wrth loc31 teachers to achieve client focussed R&D and development of new materials. CITY DISCOVERY CENTRE IA company Ilmited by guarnnteel TRUSTEES, REPORT (CONTINUEOI FOR THE YEAR ENDED 31 MARCH 2025 Achievements and perfomiance {¢ontinued} e. Partldpatlon in MKCDCs educatlonal and herltage arti¥ltie5 Schools Geography and Urban Planning: o Comprises learners taking part in our geography based activities and includes both the primary and secondary sectors. o The Urban PlanninE is mostly UK based tertiarystudents and professional/academicvisitors from abroad although we have again thi5 past year introduced the subject to primary schools. History and Heritage.. Learners taking part in our hands-on-history activities. o These history components are almost exclusrvely undertaken by primary school pupil5. o The heritage components are also aimed at 18+ adult learners and parents attending public events. Combined Geography and HeritaEelHistory sessions: o This area combines the history of local area with its urban developmentover a range of different periods and how these impact on each other. We are happy to report that the student number5 taking part in our general on-site education programmes and events remain stable. We are working on strategies to increase this number and have developed new sessions and updated existing ones. Professlonal and 16+ edu¢ation The numbers for professionals attending and foreign groups remain stable, with the new exception of delegations from China still halted as a result of Covid-19. We continue to work on strategies with a number of tertiary and international partners to increase this further and capitalise on this as part of the now expanded New Town Studies Network that we are a part of with Milton Keynes Council. Educational delivery challenges It should be noted now that we are regularly fully booked with sessions. The regularly refreshed comprehensive educational brochure and programme developed and sent out to all the schools in the Milton Keynes borough has undergone a further website refresh and is accompanied by other promotional materials Including banner5. digital resources. recorded videos and inclusion ir) various educational brochures. We also continue an intensive and proartive liaison wtth schools to see why they continue to use us. what they would like to see improve in order to continue with us. and the same with schools who have used our services in the past but no longei do though. We continue to work with schools and coach companies to find more cost effettive ways for schools to engage with our services. MKCDC has continued to offer taster and bespoke sessions to schools in the 20234 period. In addition. we have gone out to schools for paid session5. We will continue this approach. We have continued our approach with home schooling, church, scout, and now youth groups. We have now added secondary schools and colleges that work specrfically with harder to reach students. Mk College and Stephenson's Academy or now regular collaborative partners. We have continued our extensive Work Experience programme with Pro- Active Education. and have now begun a programme of work offers with UniFrog. The education team continues consultation with teachers in order to accommodate and maximise any curriculum changes during this period. This to ensure that any new sessions. material and educational topics will remain relevant moving forward_ Now that covid-19 has less impact on school visits physical visits have taken precedence over our digital offer. io CITY DISCOVERY CEMfRE {A company limiled by gtsaranteel TRUSTEES. REPORT {coMfiNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance (contlnuedl We tontinue to diversify OLFr services and are working doser with other heritage charitable and community groups who are engaged in delivering similar or complementary educational activities. This has resulted in joint activities with Milton Keynes Museum. The m05t successful marketing tool currently still appear5 to be word of mouth referrals from teachers and schoo15 or teachers who have visited or attended some of our open days. The Dirertor sits on the Board of the Milton Keynes Cultural Education Partnership IMAKEI and the Cultural Partners Action Group IBoth part of MAKE, which is part of AHAI. all of which have teachers on the Board and d1￿ct links to school networks. This ha5 increased uptake of our digital and physical offers. OnboardinE 4 new freelancer5 and the newstaff role of Admin Assistant has rncreased OL•r bookSngs' capacity, and most sessions are now frequently full booked. Feedback remains excellent and we are in the process of being awarded another Sandford Award for excellence in education. Archive & Reference library Report April 2024- Maych 2025 Access otal 88 Enquiries linc. vi51tsl Visits onthly AveraEe 2024-25 Monthly Aver?ge 2023-24 14.5 Enquiries & Vi5iis Pef Yèar 15Q 150 1512¢ ij 2212J li CITY DISCOVERY CENTRE {A company limited by euarantee) TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Athievements and perfomiance {contlnued) Method of Enquiry Enquiry Origin Inret • Visits by students from the University of Cambridge and the University of Nottin8ham have boosted visitor numbers this year, but even discounting those we have still received significantly more visits than last year. However, the almost identical percentage of national and local enquiries h35 been slightly affetted by the university visits and without them, the results would show more than half of all enquiries came from the local area. uisitions & Accessions The main focu5 15 on processing existing collections and our most significant accession was the Ray Merrington Collettion, an architett in the Private Housing Unit of the Milton Keynes Development Corporation. This includes plans, brochures. photograph5 and slides. We are working wrth the family of Bill Berret to acquire his collection and the family are currently preparing the material. A large èmount of material was taken in from Milton Keynes Central Library. who are disposing of some of their local history material. Their boxes of published Milton Keynes Development Corporation material were sorted through to identify items we don't already have and materials relating to planning, especially newer developments in MK were tsken in. Collections Care Environmental monitoring still shows temperature and humidity too high on the balcony. with unacceptable levels of fluctuation both on the balcony and in the Archive & Reference Library. Regular pest checking has not highlighted any problems. We have been in discussion with the National Conservation SeNi¢e about becoming members and benefitting from their advice to improve the storage and working areas. This will be taken forward in 2025/26. Work is currently progressing well on tidying the mezzanine area to improve collections storage. Collections Develo ment New tatalogues available online.. Phillip Ashbourn Collection IPACI Mike O'sullivan Collection IMOSI 12 CITY DISCOVERY CENTrE IA company Ilmlted by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2025 Achievements and performance (continued) Collections Develo ment continued These two Collections were major cataloguing projects and have been completed this year. Other collertions development work includes continuing appraisal of The Parks Trust Collertion the large series of slides has been completed and work is now being done on the photographic prints. Cataloguing of additional materials donated by Peter Waterman has been completed. Work on the Reference Library cataloguing is continuing and over 4,600 Items are now catalogued onto eHive. A third of the Edna Read Collection has been appraised. Work is currently being carried out on the Audio Wisual Collection to appraise, catalogue, repackage and identify preservation priorities. The digitisation programme forthe Posters Collection continues and over 60 posters are now available via the online catalogue. ital Preservation We are continuing ourforays into digital preservation. starting by workin8 towards Level l of the National Digital Stewardship Alliance INDSAI Levels of Digital Preservation. A workflow for acquisition and transfer of digital materials has been completed, plus documentation. forms and guidance for donors. Outreath The #Mysterymonday posts are still proving popular across our social media channels. Archrve related posts are published every three weeks in rotation wich education and site related posts, and they perform well. The Archivlst attended Q:alliance's community day and manned a stsll promoting CDC, talking to community members and participating in some of the activities. The Archivist and the Chairof the Board attended MK Lit Fesvs Book fair to promote and sell copies of 'Bradwell Abbey Farni and Beyond. It was a successful event for both sales and networking. The Arthivist also sold copies of books at each of the three book launch events we hosted thi5 year. We hosted visits from èrthrtecture students atthe Universities of Cambridge and Nottingham. The 19 Cambridge students and two tutors were given a tslk, shown housing-related archive materials and tsken on a tourof Milton Keynes. The 20 Nottingham students and two tutors were shown a variety of archive material after a self-led tour. We now have 30 items from our collection available to buy as prints on the Art UK shop. The Archivist also curated a showcase on Art UK to celebrate the IIXJ anniversary of the birth of Bern3rd Schottlander. Bradwell Abbey hosts the majority of his public arhvorks in the UK. The Archivist also facilitated the inclusion of our Heritage Open Days event in the national celebrations fr)r the scheme's 30 anniversary. Nominations were invited for places and events to be featured in an online anniversary gallery showcasing 30 sites/stories/people who have made HODS so magical over the years. We made the shortlist, which was then put to a publicvote and received enough votes to be included as The Ancient Monumeny. 13 CITY DISCOVERY CENTRE IA company Ilmited by guarantee) TRUSTEES. REPORT (CONTINUED) FOR THE YEAR ENDED 31 MARCH 202S Achievements and perf0rn7ance lcontinuedl Pro ect Work The beginning of the year saw the conclusion of the Good City project, with the last library re-enactments. production of the supper club newspaper and final exhibition. The newspaper was created, printed and given to participants in the supper clubs. It is now also given away at our events and wrth l)ook orders. The final exhibition brought together the outputs o* the project. showcasing the work of the groups who had participated in the supper clubs, the artwork of the supper club artist. the creations of the children at the library workshops, the images and videos captU￿d at supper clubs and workshops. the exhibitions created for the events. the video ol the six goals and a preview of the final artwork. Participants from throughout the project were invited back, plus people new to the projett, and there was a good turnoLrt. The final artwork was completed in early Summer and put on display in the sun room of the farmhouse. The July slte tour gave the public an opportunity to view it and was well attended, it was also highlighted at the October Schottlander-focused site tour. We have contributed to MK City Council's trails project in Central Milton Keynes. providing images and accommodating researchers. Entitled 'Look Again,, the project highlights architectural and design features of CMK. Information panels have been placed at various spots around CMK. with QR codes that link to the website for more information. The 40 anniversary of Campbell Park was also celebrated and our collections provided wealth of information and images for the online trail. hosted by The Parks Trust. Volunteer Mana ement Volunteers have been working on a variety of projects. including cataloguing the reference library material1673 records created this yearl and improving the Image Archive catalogue deKription5. Work has been completed on appraising old education resource patks. these have been incorporated into the library. The MK Borough Council Messenger newsletters have been indexed. Work has been started on sorting the volumes of Milton Keynes Development Corwration press releases acquired from the public library service. Our own collertion are being checked against these copies to identify duplitates. with new documents being added to our index. Volunteers contributed an average of 26 hours per month in 2024. Flnancial rewew a. Going concern After making appropriate enquiries. theTrustees have a reasonable expectation that the Company has adequate resources to continue in operational existence forthe foreseeablefuture. For this reason. they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis tan be found in the accounting policies. b. Re5er¥es policy The Trustees aim to maintsin free reserves in unrestricted funds at a level which equates to approximately 12- 18 months of unrestricted charitable expenditure. The Trustees consider that this level will provide sufficient fund5 to maintain salarie5 and a5SOClated costs durin8 this period and to ensure that support and governance Costs are covered. 14 CITY DISCOVERY CENTRE IA company limlted ￿ 8uarantee} TRUSTEES. REPORT IcopillNUED) FOR THE YEAR ENDED 31 MARCH 2025 Financ•al review (continued) c. Deficit Towards the end of each calendar year detailed budgets for the following year are prepared and submitted to the Trustees for approval. In the ye3r we generated a con501idated deficit of £137,985. We have reviewed our business plan with help from MKC. and this 15 operational in line with new governance procedures and staff targets. The overarching 5trate8Y to find a sustainable business model that makes sense of our dual funrtion and allow5 US to develop into a national and internationally significant visitor attraction. as well as become a national leader in educational and communtty activities is well underway and remains a livin& flexible plan. The application to Heritage Fund was unsuccessful. and we have been advised to apply again under a different focus. This is underway. This will still be to populate the downstsirs of the Farmhouse with state of the art heritage attrartions. Albeit on a smaller scale. Our aim is to be the first choice for everyone in Milton Keynes and further afield who wishes to avail themselves of such services. In addition. we wish to embed ourselves firmly within the community of Milton Keynes as we have the potential to offer much more than we do currently, on all stages. Total number benefftting from Qty Discovery Centre's a¢ti¥ities Actlvities Education thildren lunder181 Education Tertiary and 18+ Education- Profession31 and Foreign Cornmunity related meetin& social ènd recreational Heritage visits or sessions ladults. child￿n. excluding schools) Arts & Cultural Health & Well-being Public Events Volunteering Green space use and general public services/enquiries Commercial Total beneficiaries events or sessions Beneficiaries events 10150 439 75 650 180(X) Last year ioooo 700 so S(K> 18000 5(X)O 8000 15000 500 25000 21XJ 66450 8000 45 25000 200 77559 Bradwell Abbey as a community venue for weddings, parties and other functions is SLtccessfully moving from an economy option that includes a medium to high quality option. We continue to charge reasonable and competitive price5 to ensure that we create access and tontinue to provide the servi￿$ stated in our charitable remit. 15 cTrY DISCOVERY CENTRE IA c*)mpany Ilmited by guarantee) TRUSTEES. REPORT {CONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Financlal review {continued) Volunteers and supporter5 The Trustees and Director are extremely grateful for the time and energy of all the volunteers who assist MKCDC in the Archive and New Towns Reference Library, EdLTrcation department, with and during public events, those helping Wlth admin task5 and those who help maintain the site itself. The Chairman and Direttor also wish to thank all those Board members, who are volunteers too. for serving with enthusiasm and commitment. A big thank you to all our supporters. customers. clients. friends. visitors and partners for helping to make our work 90 Successful. The Friends Grotsp goes from strength to strength. and is already helping markedly with fundraising and events. d. Rlsk management The principal risks faced by the Chèrity are a downtum in revenue due to any recessions, or current rises affecting operations andlor lease renewal. The Trustees look to alleviate these risks by trialling new funding schemes. staff structurin& volunteer help and increasing grant programme reception. Structure, Governance and Management During the year. the governance of MKCDC was overseen by the Board of Trustees comprisin8-. Professor David Lock CBE INon*xecutive p￿sidentI Paul Cox (Chairl Steve Crowther Rex Excon Imilton Keynes Council representative) Jan Lloyd Bob Adams Dr Noel James (Staff - Company Secretary and Dirertor/CEOI P Martin Ideceasedl M Petchey 16 CITY DISCOVERY CENTrE IA company limlted by guarantee TRUSTEES, REPORT (coMfiNUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, Govemance and Management {¢ontinued) The Board of Trustees meets at least every quarter at Bradwell Abbey, or more often if required. Members of the public and observers are always welcome at these meetings and can apply to the Company Secretary to attend. MKCDC volunteers and members of all the partner organisations we work with are encouraged to stand for election to the Board of Trustees at the AGM. The Board of MKCDC remain acute￿ aware that the govemance of the organisation is linked to the skills of its Trustees. To this end the Chair and Dirertor regularly review a recruitment strategy for Trustees and volunteers based on an identified skills matrix. The recnJ4tment of new board members and volunteer5 remains an active and continuous process during a period where volunteering seems to be on the wane. Volunteering for the Charity remains stable this year. with the Friends group and Gardening Club ¢ontinuing. CDC has achieved Investing in Volunteering status. and Investors in People status. The Board of Trustees is responsible for setting the broad strategic dirertion of the organisation and the appointment of a Direttor to deliver this strategy and the related agreed aims and objective5. The Board ha5 a fiduciary duty and financi31 oversight, as well as ensuring that the organisation remains compliant with all its legal and other requirements. The Director is responsible for the overall and day-to-day management of the organisation and reports on this to the Trustees on a regular basis at Board meetings. As CEO the Director deals with all management, staff, delivery, contractual and business issues with the 5UPPOrt of the Business Development Manager. who also acts as Deputy in the absence of the Dirertor, and other staff. b. MKDC Volunteers, Partners and Other Supporters The Board of Trustees are volunteers and continue to be involved actively in numerous meetings, planning sessions. negotiations Wlth Mitton Keynes Council, educational and architectural exhibition5, service reviews. developing and helping to deliver services and put on a variety of public events. The Trustees and Director are extremely grateful for the work all the MKCDC Volunteers and other unpaid or in- kind supporters regularly do to contribute to the work of MKCDC and thè Bradwell Abbey 51te as a public *acility and heritage destination. The importance of volunteer and supporter help during events and delNery sessions cannot be under estimated and we benefit greatly from the application of their own ski115 and knowledge alongside the MKCDC staff team. 17 CITY DISCOVERY CENTRE (A company lirnited by euaranteel TRUSTEES. REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Strurture. Governance and Management Icominued) Event EDUCATION & EVEtITS Site tours Arts, music & cuttural events Heritage Open Days Research & writing Re-enactors & helpers ARCHIVE & UBRARY Archive, digitisation, website & social media Sitè and DIY DIY Explorer Scouts / Young people Green Gym Oversea5 Students volunteer days Bo*d Board meetings Strategic & lanning meetings PR & EXhi￿tIOnS Adminsup Other (various tn kind e.g. c05tume making. fund r3i5in& meetin rox. Hrs Days No.of Vo15 Hours 12 96 400 io 12 io 15 240 20 320 40 15 18 4800 288 576 12 io io 12 30 20 240 io TOTAL 7380 The MKCDC Volunteers help with the organisation and delivery of many educational, heritage and public events at 8radwell Abbey. The Guides help to guide well over SIX) visitors across the Bradwell Abbey srte on the Open Sundays and during the new Bradwell Abbey Friend5 Pop Up Café days, and also assist during a variety of events across each year such as Archaeology Week, Medieval Open Day. An8els at the Abbey. and also other events put on by MKCDC and also outside orgJnisations such as the 'ne￿ Food Festival, and Barrel Bikers bike festival. The Trustees wish to thank a number of partners. individuals, supporting organisations and companies who supported the WO￿ of the MKCDC contributing to the above, and they are- . Bradwell Abbey Friends. the CDC library volunteers, the Parks Trust volunteers (various projects), Green Gyrrt, the Education and Events volunteers, the office and garden volunteers, and many others not mentioned here. Final￿. it should also be noted that the Trustees, time is Completely voluntary. Thus, 7380 hours of volunteer and unpaid/4n-kind time was contributed to the work of the Charity in 2024-5. If this is conservatively valued at the lowest heritage sector volunteer rate of £50 a day, it represents an amount of £46, 125. 18 CITY DISCOVERY CENTRE (A company1Smited by guarantee} TRUSTEES, REPORT ICONTINUEDI FOR THE YEAR ENDED 31 MARCH 2025 Structure, G0vema￿e and Management IcoThlinued) c. Our staff During the year ended 31 March 2025 our staff were: N¢èl James (Director & CEO) Lynne Dawson (Businèss Development Manager and Deputy to Director) (retired September 20241 Catherine M¢Jntyre (Archivist) Richard Gregory (Funrtions Manager. Contracted Cleaner. Operational and Admin Support roles) City Discovery Centre is also grateful for the commitment and professionalism of the long list of re-enactors and contractors who assist in the delivery of our educational and heritage activfcies. Salaries for all staff are benchmarked against market statistics and surveys. 19 CITY DISCOVERY CENTRE {A company limlted by guarantee) TRUSTEES, REPORT (copifiNUED) FOR THE YEAR ENDED 31 MARCH 2025 Strategic development and si8nifKant concems/plans for future peri¢)ds Brt7dwellAbbey restorotion ond improvementprojert As far as the Milton Keynes City Council intervention in the restoration of the STte. this is now complete, finishing years of protracted negotiations and works. This allows CDC a greater freedom to develop activities on 51te that will maximise the restored historic facilities and plans are now underway to realise this. This is crucial as 311 money generated is directly used to fund and subsidise the work of the Charity. The Bradwell Abbey srte and its facilities remain the greatest income generating sources, directly and Indirectly. for the Charity. and the most suitable venue for its educatlOA, heritage, cultural and community servicès. Continuing to improve and upgrade the site to make it a visitor and heritage destination befitting one of the important Scheduled Ancient Monument site5 in Milton Keynes is an important aspiration for all key stakeholders. It is featured as such in the Counol's Heritage and Cultural Strategy 2014-23 and is a major part of the new Business Plan moving forward. On site concerns Now that conservation works are complete. funding is underway to allow the retit of the historical attrattions to museum standard in order to funttion as an excTting new visitor attrartion. Initial enabling works and feasibility studies concerning this have already been undertaken. Funding applications are underway. Economies of scole andfL*ture joirpt working MKCDC remains an active member and contributor to the Heritage MK and various other bodies in Milton Keynes that represent herttage. arts & culture. education, environment and community concerns or interests e.g. MKHA, AHAMK, MAKE, MK Chamber, MK Forum. We continue to work with many partners and organi5ations that are involved in other Herita8e Funded or possible future Heritage Funded projerts to show joint working that avoids duplication and competition but will allow for joint working or delivery related to economies of scale. We are also working with the Central Library Archives Project. which 15 ongoing, and continue as a key partner in several archive and New Town projects. We remain fully supportive of a joint heritage visrtor offer which will tell the Story of the New Town of Milton Keynes across a variety of eras, areas and sites. MKCDC already does this to a large extent as part of our current educational and professional delivery- and it remains critical that MKCDC will be able to fulfil its original key aims and objectives within the Milton Keynes heritage. edutation and community sectors. MKCDC remains fully SUPPOrtive of the MK Museum in their successful and significant expansion and continues to undertake close work with them to provide information. displays and exhibitions in their new gallery related to the development of Milton Keyne5 as a New Town. The lounding objectives of MKCDC were deliberately laid down in broad terms to allow the delivery of a wide range of services and educational activities. Overtime priorities and opportuntties change and the organisational strategy will be to tske a(Ivantage of new opportunities, as well as new academic and 5ervrce ventures as they present themsefve5. The Trustees and Director believe that a sustainable organisation is one that Manages to accommodate change while maintaining core objertNes and run itself more on business principles rather than a dependency approach. 20 CITY DISCOVERY CENTRE IA company limited by guarantee) TRUSTEES. REPORT (Co￿lmUED) FOR THE YEAR ENDED 31 MARCH 2025 Strategic development and s¥nificant concems/plans for future periods (continued) Optimal Delivery The Trustees. Director and Staff team remain committed to optimal delryery of all the service5 we deliver at Bradwell Abbey and we review regularly the ways we deliver our services to deliver more effective operations. In particular, we are keen to ensure that the priorities reflerted in our education programmes are continuing to support the needs of schools. especially in the light of continual changes in national curricula and also the ability of schools to travel for experiential learning off site. The TrLrstees and Direttor also continue to explore further opportunities for collaboration and joint ventures with other Milton Keynes voluntary and community groups in the delrvery of our charitable and educational mission, as well as some institutions at national and internatKJnal level. 21 CITY DISCOVERY CENTRE IA company Ilmlted by guarantee} TRUSTEES. REPORT (CO￿1N￿E0) FOR THE YEAR ENDED 31 MARCH 2025 Statement of Trustees, responslbilitie5 The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. report and the financial statements in accordance with 3pplitable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Prarticel. Company law requires the Trustees to prepare financial statements for each finantial year. Under company law, the Trustees must not approve the financial statements unless they a￿ satisfied that they give a true and fair view of the state of affairs of the Group and the Company and of their incoming resources and application of resources, including their income and expenditure. for that period. In preparing these financial statements, the Trustees are required to.. select suitable accounting policies and then apply them consistentlv- observe the method5 and principles of the Charities SORP IFRS 1021- make jijdgments and accounting estimates that are rèasonable and prudent: state whether applicable UK Accounting Standards IFRS 1021 have been followed, subject to any material departures disclosed and explained in the financial statements.. prepare the financial statement5 on the going Con￿rn basis unless rt is inappropriate to presL¢me that the Group will continue in business. The Trustee5 are responsible for keeping adequate ac¢ounting records that are sufficient to show and explain the Group and the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Group and the Company and enable them to ensure that the financial statements comply with the Companies Att 2006. They are also responsible for safeguarding the assets of the Group and the Companv and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities. Disclosure of Infom)ation to auditors Each of the persons who are Trustees at the time when this Trustees. report is approved has confirmed that- so far as that Trustee is aware, there is no relevant audit informatKJn of which the charitable group's auditors are unaware, and that Trustee has taken all the steps that ought to have been taken as a Trustee in order to be aware of any relevant audit information and to establish that the charitable group's auditors are aware of that information. Auditors The auditors, Harris & Co IAccountant51 Ltd. have indicated their willingness to continue in offi￿. The designatèd Trustees will propose a motion reappointing the auditors at a meeting of the Trtlstees. Approved by order of the members of the boar(J of Trustees and signed on their behalf by- Pcox Trustee Date.. 24 July 2025 22 CITY DISCOVERY CENTRE (A company Ilmlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF aTY DISCOVERY CENTRE AND ITS SUBSIDIARY Opinion We have audited the financial statements of City Discovery Centre (the 'parent charitable company'l and its subsidiaries (the 'group'l for the year ended 31 March 2025 which comprise the Consolidated statement of financial activities. the Consolidated balance sheet, the Company balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards. including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland, Iunited Kingdom Generally Accepted Accounting Practice). In our opinion the financial statements= give a true and fair view of the state of the group's and of the parent charitable company's affairs as at 31 March 2025 and of the group's incoming resources and application of resources, including its income and expersditure for the year then ended- have been propedy prepared in accordance with United Kingdom Generally Accepted Accounting Practice,. and have been prepared in accordance with the requirements of the Charities Act 2011. Basls for opinion We conducted our audit in èccordance wtth International Stsndards on Auditing IUKI IISAS IUKII and applicable law. Our responsibilitie5 under those standards are further described in the auditors, responsibilities for the audtt of the financial statements section of our report. We are independent of the Broup and parent charitable company in atcordance wf(h the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is suffrcient and appropriate to provide a basis for our opinion. Conclusions relating to goln8 concem In aLFditin8 the financial statements, we have conduded that the trustees, use of the going concern basls of accounting in the preparation of the finantial Statements is appropriate. Based on the work we have performed. we have not identtfied any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group and parent charitable company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern are described in the relevant sertions of this report. 23 CITY DISCOVERY CENTrE IA company limlted by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF aTY DISCOVERY CENTRE AND ITS SUBSIDIARY (CONTINUED) Other Informati The Trustees are responsible for the other information contained within the Annual report. The other information tomprises the information included in the Annual report other than the financial statements and our auditors. report thereon. Our optnion on the financial statements doe5 not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this Elves rise to a material misstatement in the financial statements themsefves. If, based on the work we have performed, we tonclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard. Matters on which we are requlred to rewt by exception We have nothin8 to report in respect of the folk>wing matters where the Charities (Accounts and Reports) Regulations 2008 requires us to report to you if, in our opinion: the information given in the Trustees, report 15 inconsistent in any material respett with the financial Statements,. or the parent charitable company has not kept sufficient accounting records,. or the parent charitable company financial statements are not in agreement with the accounting records and returns,. or we have rK)t received all the information and explanations we require for our audit. Responslbilities of trustees As explained more fully in the trustees, responsibilities statement set out on Page 22, the trustees (who are also the directors of the parent charitable company for the purposes of company lawl are responsible for the preparation of the financial statements and for being satisfied that they give 3 true and fair view. and for such internal control as the trustees determine is necessary to enable the preparation of financial statement5 that are free from material misstatement, whether due to fraud or effor. In preparing the financial statements. the trustees are responsible for assessing the group's and parent charitable company's ability to continue as a going concern, disclosing, as applicable. matters related to going concern and using the going concern basis of accounting unless the trustees erther intend to liquidate the group or the parent charitable company or to cease operations, or have realistic alternative but to do so. 24 CITY DISCOVERY CENTRE IA mpany Ilmited by guarantee) INDEPENDENT AUDITORS. REPORT TO THE MEMBERS OF CITY DISCOVERY CENTrE AND Irs SUBSIDIARY ICONTINUEDI Audit res onse to risks identified As a result of performing the above, we identified various provisions of the Charities Att and the Charity Commission guidance as a key audit matter related to non-compliance with laws and regulations that might lead to material misstatements. In common with all 3ydits under ISAS (UKI. we are also required to perform specific procedures to respond to the risk of management override. In addition to the above, our procedures to respond to ris￿ identified include the following.. Review of the financial statement disclosures and testing to support documentation to assess compliance with provisions of relevant laws ènd regulations described as having a direct effect on the financial statements,. Enquiring of management, the trustees and in-house and external legal counsel Iwhere relevant) Concerning actual and potential litigation and claims; Performing analytical procedures to identFfy any unusual or unexpected relationships that may indicate risks of materi31 mi5Statement due to fraud,. and - Reading minutes of meetings of those tharged with govemance. reviewing internal report5 where relevant and corresponden￿. Reviewing compliance with relevant charity legislation. In addressing the risk of fraud through management override of controls. testingthe appropriateness of journal entries and other adjustments- assèssing whether the judgements made in making accounting estimates are indicative of a potential bias,. and evaluating the charities rationale for any significant transactions that are unusual or outside the normal course of business. We also communicated relevant identified laws and regulations and potential fraud risk5 to all engagement team members and remained alert to an indication5 of fraud or non-compltance with laws and regulations throughout the audit. Because of the inherent limitations of an audit, the￿ is a risk that we will not detect all irregularities. including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk intreases the more thèt compliance with a law or regulation is removed from the events antl transactions refletted in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion. omissK)n or misrepresentstion. 26 CITY DISCOVERY CENTrE {A company limited by 8uarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF ciri DISCOVERY CEPfflIE AND ITS SUBSIDIARY {cofrmNUEDI As part of an audit in accordance with ISAS IUKI. we exercise professional judgment and maintain professional scepticism throughout the audit. We also.. Identify and assess the risks of material misstatement of the group's or the parent charitable company's financial statements. whether due to fraud or error. design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion. forgery. intentional omissions, misrepresentations, or the override of internal control. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstsnces, but not for the purpose of expressing an opinion on thè effectiveness of the group's internal control. Evaluate the appropriateness of accounting policie5 used and the reasonableness of accounting estimates and related disclosures made by the trustees. Conclude on the appropriateness of the trustees, use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exrsts related to events or conditions that may cast signifitant doubt on the group or parent charitable company's ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or. if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However. future events or conditions may cause the group or parent charitable companyto cease to continue as a going concern. Evaluate the overall presentation, strLtrture and content of the financial statements. including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that chieves fair presentation {i.e. gives a true and fair view). Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business ctivities within the group to Èxpress an opinion on the consolidated financial statements. We are responsible for the direction, Supervision and performance of the group audit. We remain solety ￿sponsible for our audit opinion. We communicate with those charged with governance regarding, among other matters, the planned Scope and timing of the audit and significant audit findings, includin8 any significant deficiencies in internal control that we identify durin8 our audit. 27 CITY DISCOVERY CENTRE IA company limited by 8uarantee) INDEPENDENT AUDITORS. REPORTTO THE MEMBERS OF CITY DISCOVERY CENTRE AND rrs SUBSIDIARY (CONTINLIED) Use of our report This report 15 made solely to the charttable company's trustees, a5 3 body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2W8. Our audit work has been undertaken so that we might state to the charitable company's members those matters we are ￿quired to state to them in an auditors, report and for no other purpose. To the fullest extent permttted by law, we do not accept or assume responsibrlity to anyone other than the charitable company and the charitable company's members, as a body, for our audit work, for this report, or for the opinions we have formed. Sarah Bu5well FCA (Senior Statu ory Auditorl for and on behalf of Harris & Co {Accountantsl Ltd. Statutory Auditor 2 Pavilion Court 600 Pavilion Drive Northampton Business Park Northampton NN4 7SL Date.. 24 July 2025 Harris & Co (Accountantsl Ltd are eligible to act as auditors in terms of section 1212 of the Companies Act 2006. 28 CITY DISCOVERY CENTRE IA Company Ilmlted by guarantee) CONSOUDATED STATEMENT OF FINANCIAL ACtIVlTIES {INCORPORAnN6 INCOME AND EXPENDITURE ACCOUNTI FOR THE YEAR ENDED 31 MARCH 2025 Unrestricted Restrlrted funds funds 2025 Totsl funds Totsl funds 2025 2025 2024 Income from: Donations and legacies Charitable artivities Other trading activities Investments Total income 16.670 28,565 222.348 112.819 380,402 55,876 72.546 28,565 222.348 112.819 436,278 99,803 23,957 221,392 95.866 441,018 55.876 Expenditure on: Raising funds Charitable activities Total expenditure 48.631 367.164 415,795 48.631 525.632 574,263 60,668 400,647 461.315 158.468 158.468 Net incomel{expendlture) 135.3931 1102,5921 1137,9851 120,2971 Transfer between funds Net m¢)vement in lund5 135,3931 1102.5921 1137,9851 120,2971 Recontiliation of funds: Total funds brought forward Net movement in funds 158.056 135.3931 102.592 1102,5921 260,648 1137.9851 280,945 120.2971 Totsl funds carried forward 122,663 122,663 260.648 The Consolidated statement of financial activttie5 includes all gains and losses recognised in the year. The notes on pages 34 to 46 form part of these financial statements. 29 CITY DISCOVERY CENTrE {A company limlted by guarantee) REGISTERED NUMBER: 02108180 CONSOUDATED BALANCE SHEET AS AT 31 MAR(11202S 2025 2024 Note Flxed assets Tangible assets li 13.889 13.889 25,948 25,948 Current assets Stocks Debtors Cash at bank and in hand 13 14 7.465 60,667 92.863 160,995 4,515 30,499 267.364 302,378 Creditors.. amount5 falling due within one year 15 {52.2211 167,6781 Net current assets 108.774 234,7CK) Total assets less current liabililies 122,663 260,648 Net assets eKcludln8 pension asset 122.663 260.648 Totsl net assets 122.663 260.648 Charity fvnds Restricted funds Unrestricted funds 16 16 102,592 158,056 122,663 Totsl funds 122,663 260,648 30 CITY DISCOVERY CENTRE IA company limited by guarantee} REGISTERED NUMBER: 02108180 CONSOUOATEO BALANCE SHEET {CONTINUED) AS AT 31 MARCM 2025 The Company was entitled to exemption from audit under section 477 of the Companies Act 2CKI6. The members have not required the entity to obtain an audit forthe year in question in accordance with section 476 of the Companies Act 2006. However, an audit is required in accordance with section 152 of the Charities Att 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial statements have been prepared in accordance with the provision5 applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Pcox (Trusteel Date: 24 July 2025 The notes on pages 34 to 46 form part of these financial statements. 31 ctTY DISCOVERY CENTrE (A company limited by guaTanteel REGISTERED NUMBER: 02108180 COMPANY BALANCE SHE AS AT 31 MARCH 2025 20Z5 2024 Note Fixed assets Tangible assets Investments 23,244 loo 23,344 li 12 11,862 11,962 Current ossets Stocks Debtors Cash at bank and in hand 13 14 4,645 94,820 20,748 120,213 159,162 82,782 241,944 Creditors: amounts falling due within one year 15 123,2381 119,0441 Net current assets 96,975 222,900 Totsl assets less current liablllties 108,937 246,244 Total net assets 108.937 246,244 Charlty funds Restricted funds Unrestrirted funds 16 16 102,592 143,652 108,937 Totsl funds 108,937 246,244 32 CITY DISCOVERY CENTrE (A company limlted by guarantee) REGISTERED NUMBER: 02108180 COMPANY BALANCE SHEEf ICONTINUED) AS AT 31 MARCH 2025 The Company's net movement in funds for the year was £1137,3071 deficit12024 .. If 20,298 deficit). The Company was entitled to exemption from audit LEnder section 477 of the Companies Act 2C¥)6. The members have not required the entty to obtain an audft for the year in question in accordance with section 476 of the Companies Act 2CK)6. However, an audit is reqvired in accordance with section 152 of the Charities Act 2011. The Trustees acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and preparation of financial statements. The financial Statements have been prepared in accordance with the provisions applicable to entities subject to the small companies regime. The financial statements were approved and authorised for issue by the Trustees and signed on their behalf by.. Pcox ITrusteel Date- 24th July 2025 The notes on pages 34 to 46 form part of these financial statements. 33 ciry DISCOVERY CENTRE (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 l. General inforniati¢)n The charity is a private company limited by guarantee, re£￿tered in England and Wales and a registered charity in England and Wales. The address of the registered office is The F3rmhouse, Bradwell Abbey, Alston Drive, Milton Keynes, MK13 9AP. 2. Accountlng p¢llcles 2.1 Basis ol preparatlon of financial statements The financial statements have been prepared in accordance with the Charities SORP IFRS 102I- Aecounting 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 IFRS 1021 leffective l January 20191. the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 10213nd the Companies Act 20C6. City Discovery Centre meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially retognised at historical cost or transaction value unless otherwise stated in the relev3nt accounting policy. The Consolidated statement of financial activities ISOFA} and Consolidated balance sheet consolidate the rinancial statements of the Company and its subsidiary undertaking. The results of the subsidiary are consolidated on 3 line by line basis. The Company has taken advantage of the exemption allowed under seciion 408 of the Companies Act 2006 and has not presented its own Statement of financial activities in these financial statements. 22 Golng concern The trustees have at the time of approwng these financial statements, a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus thev continue to adopt the going concern basis of accounting ir) preparing the financial Statements. 2.3 Income All income is recognised once the Charitable Company has entitlement to the income, it is probable that the income will be received. and the amount of income receivable can be measured reliablv. Grants are included in the Consolidated statement of financial artivities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt. its recognition is deferred and included in creditors as deferred income. Where entitlement otcurs before income is received, the income is accrued. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. 34 CITY DISCOVERY CENTrE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 3. Accounting poli¢ies Icontlnued) 2.4 Expenditure Experhditure is recognised once there is a legal or constnjrtive obligation to transfer economic benefit to a third party, it 15 probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be meas4Jred reliabty. Expenditure is classified by activity. The costs of each activity are made up of the total of direct costs and shared costs. including Support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that artivity. Shared costs which contribute to more than one activity and support Costs which are not attributable to a single activity are apportioned between those activities on a basis consirtent with the use of resources. Central staff costs are allocated on the basis of time spent. and depreciation chargès allocated on the portion of the asset's use. Expenditure on raising funds includes all expenditure incurred by the Group to raise funds for Its charitable purposes and includes costs of all fundraising activities events and non-ch3ritable trading. Expenditure on charitable activtties is incurred on directly undertaking the artivities which further the Group's objectives, as well as any associated supw)rt costs. All expenditure is inclusive of irrecoverable VAT. 2.5 Government grants Government grants relatin8 to tangible fixed assets are treated as deferred income and released to the Consolidated Statement of financial activtties over the expected useful lives of the a55et5 concerned. Other grants are credited to the Consolidated statement of financial activities as the related expenditure is incurred. 2.6 Interest receNable Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Group,. this is normally upon notrfication of the interest paid or payable by the institution with whom the funds are deposited. 2.7 Tanglble fixed assets and depreciation Tangible fixed assets costing £NIL or more are capitalised and recognised when future economic benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are initiallv recognised at cost. After recognition, under the cost model. tangible fixed asset5 are measured at cost less accumulated depreciation and anyaccumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended workin8 condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimate(l useful lives. Depreciation is provided on the following basis: Fixtures. fittings, and office equipment - 20% straight line Computer and other equipment 33% straight line 35 CITY DISCOVERY CENTRE {A Company lirnited by guarantee) NOTES TO THE FINANCIAL STATEMETr¥rs FOR THE YEAR ENDED 31 MARCH 2025 2. Accounting policies Icontinuedl 2.8 Investments Fixed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured 8t fair value at the Balance sheet date, unles5 the value cannot be measured reliably in which case it is measured at cost less impairment. Investment Bains and losses, whether realised or unrealised. are combined and presented as'GainsllLosseslon investments, in the Consolidated statement of financial attivities. Investments in subsidiaries are valued at cost less Pr￿lS1On for impaim)ent. 2.9 Stocks Stocks a￿ valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overhead5. 2.10 Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts (lue. 2.11 Cash at bank and in hand Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.12 Liabilltle5 and pro¥isions Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably- Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the mount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material. the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount 15 recognised in the Consolidated statement of financial activitie5 as a finance cost. 2.13 Financial instruments The Group only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value with the exception of bank loans which are subsequently measured at amortised cost using the effective interest method. 36 CITY OISCOVERY CENTRE (A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31 MARCH 2025 2. Accountlng policie5 (continued) 2.14 Fund accounting General funds are unrestrirted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Group and which have not been designated for other purposes. Restricted funds are fund5 which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Group for particular purposes. The costs of raising and administering suth funds are charged against the Specific fund. The aim and use of each restricted fund is Set out in the notes to the financial statements. Investment income, Bains and losses are allocated to the appropriate fund. 3. Income from donations and legacies Unrestricted funds 2025 Rertrlcted funds 2025 Total funds 2025 Donations Grants Government grants 1,670 15,1)00 1,670 70,876 55,876 16,670 55,876 72,546 Unrestrirted funds 2024 Restricted funds 2024 Total funds 2024 1,300 98,503 Donations Gr3nts Government grants 1,300 15.(M)O 83,503 16.300 83,503 99,803 37 CITY DISCOVERY CENTrE IA Company limlted by guarantee) NOTES TO THE FINANCIAL STATEMErirs FOR THE YEAR ENDED 31 MARCH 2025 4. Income from charitable artlvities Unre5trirted funds 2025 Totol funds 2025 Service and edut3tion provision 28,565 28,565 28,565 28.565 Unrestrlrted fvnds 2024 Total funds 2024 Service and education prowsion 23,957 23,957 23,957 23,957 5. Investment iYKome Unrestrirted funds 2025 Total funds 2025 Rentsl income Bank interest receNable 112,819 112,819 112,819 112,819 Unrestricted funds 2024 Total funds 2024 Rental income Bank Inte￿$t receivable 95,866 95.866 95,866 95,866 38 CITY DISCOVERY CENThE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 6. Analysis of expendlture on charitable arti¥ities Summary byfund type Unrestricted funds 2025 Restrirted fvnds 20Z5 Total funds 2025 Charitable artivities 367.164 158,468 525,632 Unrestricted funds 2024 Restrirted funds 2024 Total funds 2024 Charitable artivitie5 352,035 48,612 400.647 7. Analysis of expenditure ty a¢tivitses Support Costs Total fvnds undertaken dire¢dy 2025 2025 2025 Charitable activities 505.764 19.868 52S,632 Actlvitles undertaken directly 2024 Support costs Total funds 2024 2024 Charitable activities 378,410 22,237 400,647 39 CITY DISCOVERY CENTrE {A company limited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 7. Analysis of expenditure by activities (continued) Analysis of dirert (osts Charitable artivities 2025 Total funds 2025 Depreciation Loss on disposal Education expenditure Fundraising and publicity Grant5 Premises and office costs 11,104 1,100 22.813 11.104 1,100 22.813 19,413 451.334 505,764 19,413 451,334 505,764 Charitable actt¥ities 2024 Total fvn(ts 2024 Depreciation Education expenditure Fundraising and publicity Grants Premises and office costs 13,380 23,109 5,859 55,505 280,557 378.410 13,380 23,109 5,859 55,505 280,557 378,410 . Audltors, remuneration 2025 2024 Fees payable to the Compan￿5 and its subsidiaries auditor.. Audit services Non-audit services 4.530 3.658 8,188 4,140 1,640 5,780 CITY DISCOVERY CENTRE IA company lirniled by guarantse) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENOED 31 MARCH 2025 9. Staff costs Group 2025 Group 1024 WaBes and salaries 199,365 199.365 190.150 190,150 The average number of persons employed by the Group and Company during the year was as follows.. Group 2025 No. Group 2024 No. C¢)mpanv 2025 No. Cornpanv 2024 No. Administration staff The number of employees earning over £60.CKKI per annum, including taxable benefits but excluding employer'5 pension and employerfs national insurance, was= 2025 2024 £70,1)01-£80,0(xI The key management personnel of the charity comprise the Chief Executwe and Business Administrator. The total employee benefits of the key management personnel of the charity were £105,32412024'. £106,807>. 10. Trustees. remuneration and expenses During the year. no Trustees received any remuneration or other benefits12024- £NILI. During the year ended 31 March 2025. no Trustee expenses have been incurred12024- £NILI. 41 CITY DISCOVERY CENTRE {A company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Tangible fixed assets Group Equipment, fi￿ureS and fittings Total Cost or valuation At l April 2024 Additions Disposals At 31 March 2025 114.199 145 13,3751 110,969 114,199 145 13,3751 110,969 Dèpreclation At l April 2024 Charge for year On disposals At 31 March 2025 88,251 11,104 12,2751 97,080 88,251 11.104 12.2751 97,080 Net book value At 31 March 2025 13,889 13,889 At 31 March 2024 25.948 25,948 Company Equipment, fixtures and fittings Total Cost or valualion At l April 2024 A(Iditions Disposals At 31 March 2025 98,325 145 13,3751 95,095 98,325 145 13,3751 95.095 Depreciation At l April 2024 Charge for year On disposals At 31 March 2025 75,081 10,427 12.2751 83,233 75,081 10,427 12.2751 83,233 Net l>ook value At 31 March 2025 11.862 11,862 At 31 March 2024 23,244 23,244 42 CITY DISCOVERY CENTRE IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025 11. Fixed asset investments Company Investments in subsidiary companies Cost or Valuation At l April 2024 At 31 March 2025 Ico i(K) Net book value At 31 March 2025 loo At 31 March 2024 Principal subsidiaries The following was a subsidiary undertaking of the Company.. Induded in consolidation Name Companv Class of shares Holding Yes City Discovery Centre ITradingl Co. Limited 03431035 Ordinary The financial results of the subsidiary for the year were: Name ProfitllL055)l Net assets Surpluslldeficit) For the year City Discovery Centre ITradingl Co. Limited 13,827 43 CITY DISCOVERY CENTrE (A company limited by guarantee) NOTES TO THE FINANCIAL STATEMEpirs FOR THE YEAR ENDED 31 MARCH 2025 13. Stocks Group 2025 Group 2024 Company 2025 Company 2024 Finished goods and goods for resale 7.465 4,515 4.645 14. Debtors Group 2025 Group 2024 Company 2025 Company 2024 Due within Qne year Trade debtors Amounts owed by group undertakings Other debtors Prepayments and accrued income 21.641 15,873 58,485 10,495 139,847 40.168 9,163 11,336 9,163 11,299 8.820 8.858 60,667 30,499 94,820 159,162 15. Creditoys: Amounts falllng due withln one year Group 2025 Group 2024 Company 2025 Company 2024 3,708 13,227 Trade creditors Other taxation and social securtty Other creditors Accruals and deferred income 3.708 2.858 6,228 39,428 52,221 14.250 3,312 1,083 49,033 67,678 6,228 13,302 23,238 1,083 4,734 19,044 CITY DISCOVERY CENTRE IA company Ilmited by guarantee) NOTES TO THE FINANCIAL STATEMEIITS FOR THE YEAR ENDED 31 MARCH 2025 16. Ststement offunds Balance at l Aprll 2024 Transfer to other reseryes Balance at 31 March 2025 Income Expend5ture Unrestrirted funds General funds-all funds 158.056 380.402 {415.795} 122,663 Restricted funds MK Council- Maintenante Fund MK Council- Pilgrim trail project MK Council-experience artivities with SEND MK Museum National Lottery Herr(age Fund TSlstone Par Donation 73,342 572 1113,3421 15721 {io.(uii iO.OCK) 7.077 20,601 (7.0771 126.4771 Ii.cK)o} 5.876 102.592 55A76 1158,4681 Total of funds 260.648 436,278 (574,263) 122.663 The trustees have designated the funds to enable support for a variety of key areas, to ringfence from normal unrestricted funds available to the charity. In respect of the larger funds, these are restricted for the following purposes- MK Council.. for various charitable projects, rna1ntenan￿, business plans and completion of conservation works. National Lottery Heritage Fund= For Archive and New Town activities. 45 crry DISCOVERY CENTRE IA company limlted by guarantee) NOTES TO THE FINANOAL sfATEMErits FOR THE YEAR ENDED 31 MARCH 2025 17. Summary of funds Summary olfunds- current year Balance * l April 2024 Transfer between Income Expenditure reserves Balance at 31 March 2025 General funds Restricted funds 158.056 102.592 260,648 380.402 55.876 436.278 1415,7951 {158,4681 1574,2631 122,663 122,663 18. Anatysis of net assets between funds Analysls of net assets between funds - current year Unrestricted funds 2025 Restrirted funds 2025 Total funds 2025 Tèngible fixed assets Current 355ets Creditors due within one year 13.889 160.995 152,2211 122,663 13.889 160,995 152,2211 122,663 46