THE FLORENCE NIGHTINGALE MUSEUM TRUST
IA Company Limited by Guarantee)
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Registered number= 02246583
Charity number: 299576

THE FLORENCE NIGHTINGALE MUSEUM TRUST
CONTENTS
Page
Reference and Administrative Details of the Charity, its Trustees and Advisers
Chairfs Statement
Trustees, Report
Independent Examiners, Report
Statement of Financial Activities
io
Balance Sheet
li
Statement of Cash Flows
12
Notes to the Financial Statements
13-24

THE FLORENCE NIGHTINGALE MUSEUM TRUST
REFERENCE AND ADMINISTRATIVE DETAILS OF THE CHARITh, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 30 SEPTEMBER 2022
Trustee5
Dame Christine Beasley CBE. Chair
Jon Card
Alastair Gourlay
Oame Janet Vitmayer CBE
Darren Barker
Donna CLtrrry
Jane Dwelly
Alison Hofman
Peter Kay
Professor Thomas Kearns
Jènnifer Ro8ers
Company règistered number
02246583
Ch311ty re815tered number
Re6istered office
299576
St Thomas, Hospital
2 Lambeth Palace Road
London
SEI 7EW
Indepet)dent exarniner5
Moore Kin8Ston Smith LLP
Floor 6
9 Appold Street
London
EC2A 2AP
8ankeTS
National Westminster Bank PIC
London
SEI 8XJ
Investment Managers
Sara5in & Partners LLP
BNY Mellon Fund Managers Ltd

THE FLORENCE NIGHTINGALE MUSEUM TRUST
CHAIR'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
The Chair presents her statement for the year.
It 15 pleasing to be able to reflect upon the achievements of the Florence NiRhtingale Museum over the past
year,. a perlod that has seen us reopen to the general public and take considerable steps in 'bouncing back.
from the pandemic, which hit our institution, the central London visitor econorny. and the nursing profesS1gn
we are so closely aligned with 50 hard. We are of course. not seeing visitor numbers and or associated
secondary spend zt the leve15 we achieved Én 2019120 yet, but there are shoots of recovery which we firmly
believe we can build upon. I have no doubt that our determination to sutceed and our creativity will See
further growth in the next financial year. and as always. we will be insp¢red by Nightingale's own challenging
path to achievement and many successes.
Our team should be con8ratulated for iheir resilience and tenacity under what remains challengin8
circumstances. l am grateful to my fellow tru5tets. our staff. and volunteers for their ongoin8 SUPPOrt. I wguld
also like to express my sincere thanks to Guy's and St Thomas. NHS Foundation Trust for their support as our
landlord, and the funders who have supported ovi charitable aims and objectives,. The National lottery
Heritage Fund. The Postcode Lottery, The Museum of London Museum Development Team IACEI. The Royal
Society, A550ciation of Independent Museums. and PHASTAR. Their support has allowed us to develop and
introduce new displays and experiences, enga8in8 new audiences, whilst welcorning familiar laces to the
museum for return visit5. 1 would also like io take this oppgrtunity 10 thank Alastair Gourlay for his loyal and
valuable service as è trustee as he reaches ￿tIrement from Gsrr in Spring 2023. David Green, our Director,
will also be leavln8 his position ol Director after S and a hall successful years. although I'm delighted he has
agreed to continue to support our museum as a consultant. offering continuity to many of our on80in8
projetts, including a new exhibition that will celebrate thè work of our armed-forces nurses in both war and
peècetime, and recogni5e how they draw inspiration from Nightingale and other historic nursing figures such
as Seacole and Cavell.
The next linanclal yeor will undoubtedly see challen8es. not least due to the current cost of1Svln8 crSsls, but we
are buoyed by opportunities to explore excilin8 Options for a new lotation for the museum- an aim of our
strategic plan for some time, which should ultimately see us grow and offer additional services. With a number
ol Vice-Patron'5 now supporting the museum at international level, and the birth of a Us-based 'Friends of the
Florence Nightingale Museum.. we have many reasons to be optimistic, and I look fornard to the year ahead.
Darne ChrSstine Beasley
Chair- The Florence Nighiin8ale Museum
4..4.pc.I1 :292 2

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 30SEPTEMBER 2022
The Trustees present thesr annual report together with the independently examined finanaal statements of
the Charily for the year l October 2021 to 30 September 2022.
The Trustees confirfn that the Annual Report and finantial statement5 of the company comply with the current
statutory requirements, the requifements of the company's governing document and the provisions of the
Statewent of Recommended Practice ISORPI. applicable to charities preparing their accounts in accordance
with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (effective I
J3nu3ry 20151 as amended by Update Bulletin I leffective l January 20151.
SSnce the Charity qualifies as small under section 383. the strategic report requlred of medium and large
cornpanies under The Companies Act 21XJ6 Islrate8ic Report and Director's Reportl Re8ulations 2013 is not
required.
Thè Trustees confirm that the Charity Commi5si0n's general gutdance on publlc benefit h35 been considered in
relation to the objective5 of the Charity. The report below sets out those objectives and describes how they
have been met in the current year.
OBJECTIVES OF The CHARITY
The Trust's Memorandum of Associatlon gtvts the objertives as the advancement of the education ol nurses or
th95e en8a8ed in nursSn8. In the furtherance of this objective. the 8overninK document give5 the Trust powers
whlch include rhe lollowlng:
To esiablish and maintain a Museum for the prèservation and wider dlsplay of the Nightingale collection..
To rectlvt donations ol suitable items f￿ the collection. or to purchase suitable items.,
To facilitate research into the history and work of Florence Nightingale. particularly in relation to the flrst
trainln8 school for nurses at St Thorna5' Hospital and constqvtnlial developments in the nursln8 profession.
STRucfuRE, GOVERNANCE AND MANAGEMENT
The company was established under a Memorandum of Asgxiation which established the object5 and powers
of the charitable company and 15 8overned under its Articles of Association. The Trustees, who are also
directors of the tompany The Florence Ni8htin8ale Museum Trust durin8 the year and up to the date of this
report. were as follows..
Office Holders..
Chair..
Dame Christine Beasley CBE
Vice Chalr..
Dame Janet Vitmayer CBE
Treasurer..
Jon Card

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 30SEPTEMBER 2022
Directors and Trustees-
Dame Christine 8easley CBE
Jon Card
Alastair Gourlav
Oamejanet Vitmayer C8E
Darren Barker
Donna Curry
Janè Dwellv
Alison Hofman
Peter Kay
Prole$50rThomas Kèams
Jenniter Rogers
Museurn Director=
David Green IResi8ned 28" February 20231
Trustees are appointed following advertisement and interylew for periods of up to 5 years.
Trustees are inducted by the Chair with the support of the Director. Trustees are also offered tralnlng which Is
supported by the Association ol Independent Museums. the Arts Council England and Small Charlties Coalltlon,
Trustees ret8￿n declslon makin8 power, workj'ng clostly with the Director as the full-time operational executlve
officer.
The Chalr rneets the Director to facilitate decision making not less than once per month. The Treasurer meets
the Oirector not less than quarterly.
STRATEGIC PLAN
The objectives, formin8 the basis of the strategic plan of the Charity. are as follows..
To secure a lon8-term10£3tton to allow us to meet our alms, 2nd provide a platform for growth.,
To contillue to be a financially sustainable self-funding organisation;
To increase unrestricted funds through an audience-specific marketing plan.,
To create an enjoyable. inspiring and enlightenin8 experience for our visitors,.
To provide an active and innovative events and learning programme..
To increase access to our unique collections,.
To be a centre lor research in the history of nursing,"
To value the development and effective management of staff and volunteers.

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2022
ACHIEVEMENTS AND PERFORMANCE
We are delightÈd that the museum has been able to emerge from it5 '5emi-mDthballed' state; a time between
October 2020 and May 2022. during which we welcomed vi51tors via a series of 'Open Days. and pre-booked
8roups. order to prudently protect our financial reserves, and limit our impact upon the pandernic re5pon5e
of our landlords St Thomas, Hospital. Inteinational Nurses Day 2022 thankfully proved the ideal opportunity to
restore our lull ran8e of services, and return to general public opening. Our story. and importance as a
heritage attraction, was welcomed widely. and reco8nised by both national and international media, wh
joined our re-opening day celebrations 3nd provided si8nificant coverage.
Despite the challenging financ¢al clirnate. enhanced by re8ular industrial actton throu8hout thls period, and in
September 2022 by the 5ad105s of HRH Queen Elizabeth 11 which also had a direct impact upon the site's
operation given our close proximity to Westminster, the rnuseum's team has enjoyed many signiflcant
èchSevement5 durinR the past finantial year. These include 8eneratin8 additional digital records for public use,
Improvements in the conservation of many objects. creatin8 new dlsplays and vi51tor experiences, and
engagement with over SO comrnunity volunteers. Hi8hlights in enhancin8 our permanent exhibitions include
additions io the'crimean War Gallery,, most notably adding our model of Ni8hiin8ale's carrlage onto display
from storage. alongside an accompanying video which shares details of its conservation. and a popular and
Informative new dtsplay within'Ni8htin8ale After the Crimea. that sheds furtheT li8ht on Nightingale's
pioneering work u5in8 info-8raphics- a visitor experience supported by a complementary farnily trail.
We are also delighted that our fofmal learning ofler. now enhanced by the addition of a re&ular Mary Seacole
character performer, has returned to operating at capacity on site. just as it did pre-pandemlc. Indeed, our
School sessions are receivin8 more positive feedback than ever before. and with rnany children now enjoyin8
their first school trip after lotkdown. it is thrillin8 to be part ol their tduc3tion31 jOUTney and provlde essential
support to teacher5 and families. We have also continued to provide a variety of lifelon8 learning activitie5 for
audieThce5, Includin8 on-site and on.line talk5. Additionally, we have built upon the succes5 of our
'Nlghtin8ale's London. Walking Tour, with a sell-guided health walk and historital iour tsf Lambeth and
Southwark's'mediculture Quarter,. Our volunteerin8 Opportunities have embraced many different community
needs, whilst supporting our operational needs. This Included hosling school placements and Duke of
Edinbur8h Award participants. We are proud to have 3150 pioneered a 'Nur5e In Residence, project, welcoming
a nurse from the USA who volunteered with us lor one month, much to the interest of our visitors, who were
able to learn about the profession first-hand from an experienced nurse-leader, who is inspired by Nightingale
every day in her prolessional role.
Our rnuseum has recognised the need to be more inclusive and representative. and is keen to further act upon
the need to tell more diverse storie5. in line with current trends and demands in 2020.5 society. We have
therefore begun work on translorminR our 'Armed Forces Nursing, gallery. which will 8ive us greater
opportunity to tell inspiring stories relating io the diversity of the nursing profession and thDse who are
nursed. This project will operate throughout 2023. with the core on-site e¥hibition openin8 in late Spring,
followed by a series ol supporting events, online exhibition. and'pop up. community exhibition. as well as
outreach project5 that are aimed at engaging new audience5 and partners.
We look forward to more inteinational visitors returnin8 10 London in 2023. recognising the special affection
many have for Nightingale. They have been very much missed for lar8e parts of the last year. We are aware
that our journey back to the visitor nvmbers and secondary spend of 2019120 will be a long one, as elsewhere
in the sector, and continue to plan with prudence alongside our pas5$0n. but we feel we have made a solid
start against a challenging backdrop. Undoubtedly. many opportunities lie ahead, both within our current

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 305EPTEMBER 2022
venue and when we find a new home,- the search for whith is well underway. We can be proud that we have a
solid base to work from despite recent events, and throughout our re￿nt experiences we have grown and
proven our resilience. whilst remaintng true to our values and mi55ion. intent on achieving our long term goals.
FINANCIAL REVIEW
The statement of Financial Activities shows that the unrestricted funds of the Museum increased in total bv
£43,362.12021.. increase of £438.1151.
Restricted funds decre35ed by a net £97.508 which is inclusive of a loss in the value of the Charity's investment
portfolio of £117,090 as at 30 September 2022. 12021.. restrictèd increase of £288,011, gain £304,895
In accordance with Charity Commission guidance the Tru5tee5 have agreed a reseNes policy Isee below) based
on a realistic assessment of their reseryes need5. It 15 not their policy to build up resources by retaining funds
as a matter ol hablt. Any annual surpluses made are held to provide a prudent provision lor costs both
lore5een, and unforeseen, which may be incurred in the future. Principal fundlng sourtes ate shown in notes 2
to 5. Further details of restllcled grants are given in note 18.
MAINTENANCE OF RESERVES
As per Charities Commission guidance The Trustees will aim to maintain appropriate reserves In the future by
careful budgeiin8 and monitoring of Incorne and expenditure.
SEPTEMBER 2022 RESERVES POLICY
It 15 not the policy ol the Florence Nightingale Museum Trust to amass considerable financial resèrvès. The
Trustees however do believe it is prudeni that we maintain a linancial position whereby we hold a minimum of
nine months, opeTating costs lapproxirnately £350.OCtyJI. We beliwe this Is in Ilne with CharSties Cornmi5s1on
guidance. Al 30 September 2022 free reserves were £601,145 bein8 unrestricted net assets excluding
unrestricted Heritage a55ets.
The Museum will be under80in8 a large-scale ¢apital projèct link￿ to its need to relocate wlthln the next 3-5
years. The Trusiees have therefore agreed to desi8nate £250.000 of unrestriited funds to support thi5 project.
GOING CONCERN
After making appropriate enqurrie5 and after careful Consideration of the Charity's reserve posltion labovel
and after cash flows and commitments, the Trustees have a reasonable expertation that the charitable
cornpany has adequate resources io continve in operational existence for the foreseeable future. For this
rea50n, they continue to adopt the going concern basis in preparing the financial Statements. Further details
regarding the adoption ol the going concern basis can be Found in the Accounting Policie5.
INVESTMENT POWERS AND INVESTMENT POUCY
Subject to the overriding provisions of the Trustee Acts, the Charity ha5 the power to make any investments
which the Trustees see fit. The Charity currently holds two fixed asset investment5. one with Sar35in &
Partners LLP and one with BNY Mellon Fund Managers Itd. The funds invested Originate fforn a flm grant rnost
generously given by the Perseverance Trust in 2016 to establish an endowment. The investment is held for its
returns, and it is not the Trustees policy to pvrcha5e or sell Investments on a regular basis.

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOR THE YEAR ENDED 305EPTEMBER 2022
PAY POLICY FOR STAFF
All staff pay reviews are generally subject to approval from ihe Board of Trustees and any increases are subject
to available funds and our business position.
The Trustees recognise that they need to be competitive to retain key staff. particularly given inflation in
salaries and the iurrent cost of livin8 irends.
The need io maintain sorne continuity of staff is notable and understood.
Trustees had committed to considerin8 elements of performance related pay lor exceptional performance and
achievement in the prevtous financial year and will continue lo eyplore this. They will also benchmark salaries
agalnst the Museums Association's pay guidance, whilst observin8 mafket trends and force5. Any Such
payments would be subject to 8oard approval and the recommendations ol the Chair.
RELATED PARTIES AND CONNEcfED ORGANISATIONS
The Florence Nightingale Museum is located within the site ol St. Thomas. Hospltal. The Guy's and St Thornas,
NHS Foundation Trust 15 represented by a Trustee but it does not have powers to nominate frustee5.
FUNDRAISING
The Florence Nightin6ale Museum is a Small charity with no fundralsin8 tearn. The Trustees endeavour to
support the Direttor who leads on this fespon5ibility.
Currently the Charity does not make use of professional fundraisers and has received no complaints in relètlon
to fundraisin8 practices during the period under review.
VOLUNTEERS
The Charity receI￿S htlp frorn volunteers, withoui whom we would be unable to operate as suctessfully.
Volunteers 35515t the or8anisation in many ways- the Trustees who set the strategy for the trust. volunteers
who a5515t in the managerial process and provide advice on HR, and the volunteer5 who 5UPPOrt the events we
create and deliver, both on site ènd digitally. Volunteerin8 OPPOrtunitie5 this year have included hosting school
placements and Duke of Edinburgh Award participants. We have also pioneered a 'Nurse in Residence. project.
welcomlng a nurse from the USA who volunteered wilh us for one month.
RISK MANAGEMENT
The Trustees confirm that they have Identified and rwewed the major risks to which the Charlty is exposed
and have established systems to mitigate those risks.
Specifically they Intlude:
Ensuring and operatin8 SllStainab11ity within a changing economic enwronment
A lean operattonal support model able to effectively and efficiently delivei Museum growth
Data protection, privacy and security of user data
Protection of the collection and ACE Accredited museum status
Regular monitorinR of short term c35hflow and long term funding of the Charity

THE FLORENCE NIGHTINGALE MUSEUM TRUST
TRUSTEES, REPORT
FOFI THEYEAR ENDED 30 SEPTEMBER 2022
GUARANTOR5
The Trustees are the Members of the Company which is limited by 8uaiantee. In the event of winding up. the
liability of each member is limited to £1.
TRUSTEES, RESPONSIBILITIES
The Tru5tee5 are responsible lor preparing theTrustees' Report and the financlal statements In accordance with
applicable law and United Kingdorn Accounting Standards (United Kingdom Generally Accepted Accounting
Practice) includinR FRS 102'The Financial Reporting Siandard applicable in the UK and Republic of Ireland,.
Charity law requires the Trustee5 to prepare financial statements for each financial yèar which give a true and
falr view of the state of affair5 01 the Charity and of the income and expenditure of the charitable company for
that period. In preparin8 the financial statements. the Trustees are required to..
select 5ultable ac£ountSng policSes and then apply them consistently-
observe the methods and principles ol the Charities SORP.,
make jud8ements and estimate5 that are reasonable and prudent,.
stare whether applicable UK Accounting Standards have been followed, subjett to any materlal
departures disclosed and explained in the financial statements., and
prepare the financial statemenrs on the Roin8 concern basis unless11 Is inappropriate to presume that
the company wlll contlnue in buslnes5.
The Trustees are responslble for keeping adequate accounting retords that disclose with reasonable accuracv
at any tirnt the flnantial position of the charitable company and to enable them to ensure that the financia1
statements comply with the Charities Act 2011. They are also fesponsible for safe8uardin8 the asset5 01 the
Charity and hence taking reasonable steps lor the prevention and detection ol fraud and other irregularities.
The Trustees are responslble for the malnienance and Integrity of the corporate and financlal informatlon
included on the CharitV5 web51te. Legislation in the Untted Kingdom governing the preparation and
dissemination of financial statements may differ from legislation in otherjyrisdirtion5.
SMALL COMPANIES EXEMPTION
The above report has been prepared in accordance with the special provi5i9ns of Part IS of the Companles Act
2006 relating to small companies.
This report. incorporating the Strategic report, Wa5 apprgved by the Trustees. in their capacity a5 company
directors. on
..It.,Apr.i1. :..2.o.Zl. atsd signed on their behalf by..
Dame C Beasley CBE
J Card Treasurer

Independent Examinerfs Report to the Trustees of The Florence
Nightingale Museum Trust
I report lo the charity trustees on my examination of the accounts of the Company for the year ended 30
September 2022.
Rgspon51bllltle5 and basis of report
As the charity Iruslees of the Tnjsl you are responsible for the preparation of the accounts in accordance
with the requirements of the Charities Act 2011 Ilhe Act'i.
Having satisfied myseN that the accounts of the Company are nol required lo be audited under part 16 of the
2006 Act and are eligible for independent exarnination, I report in respect of my examination of your charity's
accounts as carried out under section 145 of Ihe Charities Ad 2011 I'the 2011 A¢t'l. In c8rrying out my
examination I have followed the Directions given by the Charity Commission under seth'on 145151 Ibl of the
2011 Act.
Independent examlnerfs statement
Since the charitls gross income exceeded £250,¢XIO your examiner musl be a member of a body listed in
section 145 01 the Act. I confinn th81 l am qualified to undertake the examination because l am a member of
the Inslilule ol Chartered Accountanis in England and Wales. which is one of the listed bodies.
I have completed my examinatlon. I confirm that Th) mallers have come lo my attention in connection with the
examination glving me cause lo believe:
accounting records were not kept in respect of the Charity as required by section 130 of the 2006 Act., or
2 the accounts do n¢X accord with those records- or
3 the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than
any requirement Ihat the accounts give a'true and fair vieW which is not a matter considered as Part of
an independent examination., or
4 the accounts have not been prepared in accordance with ihe methods and principles of the Slalemenls
of Recommended Practice for accounting and reporting by charits"es.
I have no concerns and have come across no other matters in connection vrith the èxamination lo which
allenlion should be drawn in this report in order to enable a proper understanding of the accounts to be
reached.
O&YL K, fuL L
James Cross
For and on behalf of Moore Kingston Smith LLP
Chartered Accouniants
Floor 6
9 Appold Street
London
EC2A 2AP
Date.. 18 April 2023

THE FLORENCE NIGHTINGALE MUSEUM TRUST ILimrted by guarankel
STATEMENT OF FINANCIAL ACTtvmES
forthe Y8ar Ended 30 Se
tember 2022
Total Yeai
ended 30 Sept 2022
Total
Totsl Period
eThd￿ 30 Sept 2021
Totsi
Inrorne IroTTr'.
Donalions and grants
Charitable aclivilie5
Investment inGwe
OthBT trading InGome
4.322
135,641
235
74,811
103.945
108.267
135.641
34.863
74.811
614,732
37.556
5D,833
283.868
34.628
Total Incomo and Endowmonts
215,009
138.573
353.583
966.987
Expenditure on:
Raising funds
Charitable actiwlitss
23.326
162.731
23,326
281.722
22,450
523,306
118.991
Total expendlture
118.991
545 756
N•t Incomollexpendlturel
28.952
19,582
48.534
421,231
Add.. Exhlbttlon tax rnll•f clolmed
14,410
14.410
Other recognl8•d 981n￿lI0*￿•sj
Net galns on Invostments
13
1117.0901
1117.0901
304,895
Net movem•nt In fufids
43.362
197,5081
154,1451
726.128
Rlcontlllatlon of funds..
Total funds brouiht forward
570.322
1,610,858
2.181,180
1,45S.054
T￿*1 fund• ¢•rrl•d forward
1 $13 350
2 127 035
2.181 180
10

THE FLORENCE NIGHTINGALE MUSEUM TRUST
BALANCE SHEET AS AT 30 5Èptember 2022
2022
2021
Note
Flxed Assets
Tangible assets
Heritage assels
Inve8imeni$
12
12
13
105.746
1 314397
105.748
1.431.487
1.420.143
1.537.233
Currtrnt A558tS
siock
Deblors
Cash ai bank and hand
15
14
24,352
32,138
673.489
30.648
192.965
451,943
729.979
675.556
Credltor5'. amount8 fallln9
due wlthln on• y•3T
16
Z3,088
N•t Current Ao$•t
706 891
643,947
2 127,034
2.781.1BO
Cltarlty Fund$
Reslricied funds
Unresiri¢ie.rfl￿II
Jesignaled funds
Gangral un￿sInc1ed funds
18
18
1,513,350
1.610,858
250,ODO
363.684
570.322
Total FuTrd•
2 127,034
2.181.180
For the fifianclal yew ended 30 S¢pt•Tr*•r 2022 11* cornpany was eniillad to ¢xempuon unller 5eclion 477 of Ihe
Cornpanigs Act 2Q06 relating 10 srnall ¢ornpanie5.
No members have roquired th? company lo thain an audÈl of its 8ccounts lor lh¢ year in queslicffj ln accordance with
section 476 of the Companies Aci 2006.
The direclors acknowledge Iheir responsikn"lilyfor coryilwng wilh the requirwn¥nls of ihe Acl vrfiih respecl 10 accounting
records and for Ihe preparalion of account5.
These accounis have been prepared In acc¢ydancè wilh lh8 Fffow$KJns applicable Io comp8nie5 subjèd to Ihè srnall
companle$ regirne.
Th8 financial siatsmenis were approved and aulhorised lor Issue by Ihè Trustees on
their behalf by-.
Dame C Beasley C8E C
J CaTd Trea5uier
The noies on pages 15 10 26 form part of Ihese flnanuai si*ements.

THE FLORENCE NIGHTINGALE MUSEUM TRUST
Statement of Cash Flows
Year ended 30 September 2022
Note
2022
2021
Cash flows from operating activities..
Net Cash (used in}Iprovided by operating activities
20
186,684 148,545
Cash flows from investing activities:
Dividends and interest from investments
34,863
50.833
Net cash provided by investing activities
34,863
50,833
Change in cash and cash equivalents in the year
Cash and cash eouivalents bought forward
221,547 199,378
451,943 252.565
Cash and cash equivalents carried forward
21
673,490 451,943
12

NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Accounting Polities
Basis of preparation of financlal statements
The financial statements have bèen prepared in accordance with Accounting and Reporting bv
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 (effective l January 20151- (Charities SORP IFRS 10211, the Fin3nci31 Reporting Standard
applicable in the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006.
Florence Nightingale Museum Trust meet5 the definition of a publit benefit entity under FRS 102.
Assets and li3bilities are initially recognised at historical c05t or transartion value unless otherwise
stated in the relevant accounting policy.
Company status
The charity is a company limited by guarantee registered in England and Wale5, company number
02246583. Its registered office address is Gassiot House. 2 Lambeth Palace Road, London, SE71
7EW, which is also Its principal place of operation.
The principal activity of the charity remains that of runnin8 a museum.
The Members of the company are the Trustees named on page l. In the event of the charity bein8
wound up, the liability in respect of the guarantee is limited to £1 pei member of the charitv.
The presentation currency is GBP and all amounts have been rounded to the nearest £.
Go5n8 ¢on¢ern
The financial statements are prepare(l on a going concern basis which assumes that the charitable
company will continue in operational existence lor the loreseeable future. During the year, the
charity incurred a loss of £54,1451202 1.. gain of £726,126). This is after taking into account
unrealised losse5 of £117,09012021'. unrealised gains of £304.8951, before which the surplus would
have amounted to £62,94412021'. surplus £421,231). Due to the unrealised nature of the gains and
losses on the charity's investment portfolio. the trustees consider the latter figure a5 key to
understandlng the financial performance of the charity.
The trustees have reviewed the financial forecasts taking these factors into account for a period of at
least twelve months from the date of approval of Ihe5e financial statements. These show that ihe
charity has a realistic expectation of meeting its liabilities as they fall due and the trustees are
satisfied that the assumptions on which they are based are reasonable. Accordingly. they continue
to adopt the going concern basis in the preparètion of the financial Statements.
Income
All income is retognised once the charity h35 entitlement to the income, it is probable that the
in¢ome will be received. and the amount of income receivable can be measured reliably.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 305EPTEMBER 2022
l. Accounting Policies Icontinuedl
Expenditure
Expenditure Is recognlsed once there is a legal or constructive obligation to transfer economic
benefit to a third party, it is probable that a transfer of economic benefits will be required in
settlement and the amount of the obligation can be measured reliably. Expenditure is 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 artivity. Direct costs attributable to a single actlvity are
allocated directly to that activity. Shared costs which contribute to more than one attivity and
support costs which are not attributable to a sinBle activity are apportioned between those activities
on a basis consistent with the use of resources. Central staff cost5 are allocated on the basis of time
spent, and depreciation charges allocated on the portion of the asset's use.
Support costs Imuseum governance) are those cost5 incurred directly in 5UPPOrt of expenditure on
the objects of the charity.
Expenditure on charitable activities are costs incurred on the Charity's educational operations,
including support costs and costs relating to the governance of the charity apportioned to charltable
activities.
Tanglble flxed assets and depreclatlon
All assets C05ting more than £5,000 3re capltalised.
Tanglble fixed assets are carrled at Cost, net of depreciation and any provision for impairment.
Depreciation is provided at rates calculated to write off the cost of fixed assets, less their
estimated residual value. over their expected useful Ilves on the following bases..
Fixtures and fittings Office equipment
lower of the remainin8 lease term or 10 years on a
straight-line basls
4 years on a straight.line basis
Office equipment
Herltage assets- capitalised
Herltage assets that are capitallsed comprise Florence Ni8htingale's owl and a series of paintings
acquired at cost in 2013.
Herltage assets . not capltallsed
Heritage assets that are not capitalised comprise the Trust's collections of 'Nightingalia' and
associated artefacts, including letters, documents, personal effects, unifom)s, artworks and other
items which were largely collected by Oame Alicia Lloyd-stil. former Matron of St Thomas, Hospital.
Further details concerning the nature and extent of the collection are provlded on the Museum's
website.
No value is attributed to the collections as reliable historical cost information is not avallable and
due to the uniquene55 of much of the collection, conventional valuation techniques are either not
appropriate or cannot be obtained at a cost commensurate with the benefit that might be derived
by Ljsers of the accounts. Therefore the trustees have adopted a non-recognition approach as
permitted by FRS 102. Expenditure on preservation and restoration of the collection is written off in
the Statement of Financial Artivities as it is incurred.
14

NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 305EPTEMBER 2022
l. Accounting Policies Icontinuedl
The Trust's collections were18rgely assembled by Dame Alicia Lloyd-still, who diligently gathered
items brought to St Thomas, Hospital during the early twentieth century,
as the adoring British PLtblic recognised this to be the site of Nightingale's first training school for
nurses and wished to celebrate her life and achievements.
In 1989, the Florence Nightingale Museum Trust was formed to care for the collections, recognising
the need for museum expertise to administer recognise(I collecting standards and
fully harness public interest and educational potential. Unique to the UK, as the largest collection of
nursing themed items. the collection has many exhibits of both quality and sentimental value.
A5 Nightingale is regarded a5 the founder of the nursing profession, whose work is Still highlv
relevant today, the museum receives research enquiries and visits from the general public and from
both the UK and global audiences. Nightingale is also recognised a pioneering statistician and
campaigner, as well as a leading female icon.
The exhibits assembled by Lloyd-still have been supplemented occasionally with a small number of
additional donations, most commonly reflecting Nightingale's legacy within the
nursing profession. The museum's collection of Nightingale's letters are largely held by the London
Metropolitan Archive In order to f3cilitate public access. Further details of the
nature and extent of the collections are available on the Museum's website http:l/www.florence-
ni8htingale.co.uk
The definition of number5 in a collection is fairly arbitrary as single items accessioned may comprise
a wide range of artefacts. components or supporting papers.
However, this list reflects how they are accessioned in museum records.
Category
Estimated Number of items at 30 September 2022
Letters
Photographic materia55
Books & printed materials
Textiles & uniforms
Furniture, ceramics & others objects
Artworks & prints
Metal work & jewellery
330
240
80
100
150
150
Herltage assets- Acquisitions and disposals policy
The collections are very much the work of one family and it is rare for the Trustees to make
acqui51tions or disposals of objects from the collection unless the Trustee5 are sat15fied that this does
not detract from the integrity of the collection. There is a strong presumption against the disposal of
any accessioned items in the TrLt5t's collection except for sound curatorial andlor collections
management reason5. There have been no material aequisitions or disposals since April 2010.
Herltage a5sets- Collections management
The tru5tee5' primary objective is to safeguard and develop the collertions $0 that they tan be made
as accessible as possible now and in the future. This objertive is delivered through programmes of
displays, events, publications websites, fieldwork. research. documentation and collection5 care.
Objects from the collection are either displayed in the museum and on our website, or made
available via loans to third parties, or else they are held in our collection5 Stores for research and
future use.

NOTESTOTHE FINANCIAL STATEMENTS FOR THE PERIOD ENDED 30 SEPTEMBER 2021
Accounting Policies Icontinuedl
Heritage assets- Storage and care
The collection 15 displayed and stored according to recognised international standards for the
prevention of material deterioration.
Library and archive storage facilities and exhibitions are based upon and informed by the
requirements of BS 5454 and The National Archives Standard for Record Repositorie5.
Heritage assets- Documentatlon
Objects in the collection are documented in accordance with Art5 Council England requirements and
SPECTRUM.
The Trust will..
have secure title to all objerts in the collection,.
hold basic data on every object so that it can be uniquely identified and the collection audited
regularly,.
ensure record5 relating to objects in the collection are enhanced and made available to audiences
where appropriate.
Non Inclusion of Herilage Assets in the Balance Sheet
In the opinion of the Trustees, reliable information on cost or value is not available for the Trust's
collections aCqUiTed prior to April 2010. This is owing to the lack of reliable information on purchase
cost,. the lack of comparable market values; the diverse nature of the objects,. and the volume of
items held.
In the Trustees, opinion. conventional vaSuation approaches lack sufficiently reliabillty and any
valuation is likely to incur significant cost and a time commitment that is likely to be onerous. Even if
valuations could be obtained the cost would not be commensurate with any benefits to the Museum
management, curatorial staff, the public, or users of the financial statements
For this reason, the Collections which were almost entirely gifted to the Trust at nll cost many years
ago, and are incomparable in noture, are not recogni5ed as assets in the Trust's Balance Sheet.
Investments
Fixed asset investments are a form of financial instrument and are initially reco8nised at their
transaction cost and subsequently measured at fair valve at the Balance Sheet date, unless falr value
cannot be measured reliably in which case it is measured at cost less impairment. Investment gains
and losses. whether realised or unrealised, are combined and shown in the heading 'Gains/llossesl
on investments, in the Statement of Financial Activities incorporating Income and Expenditure
Account.
Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the charity: this is normally upon notification of the interest paid or payable by the Bank,
Stocks
Stocks are valued at the lower of cost and net realisable value after making do allowance for
obsolete and slow-moving stocks. Cost include5 all direct costs and an appropriate proportion of
fixed and variable overheads.

NOTES TO THE FINANCIALSTATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
l. Accounting Policies Icontinuedl
Debtors
Trade and other debtors are recogni5ed at the settlement amount after any trade discount offered.
Prepayment5 are valued at the amount prepaid net of any trade discounts due.
Cash at Bank and in hand
Cash at bank and in hand includes cash and short temi hlghly Ilquid inveslment5 Wlth a short
maturity of three months or less from the date of acquisition or opening of the deposit or similar
account.
Llabilities and pro¥lsSons
Lialjilities 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 charity anticipates it will pay to settle the debt or the amount 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 money15
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 is
recognised within interest payable and similar charges.
FlnancSal Instruments
Apart from its investments. the charity only has financial a$5ets 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 whlch are subsequently measured at amortised cost using the effective interest method.
Fund accountlng
General funds are unrestrirted funds which are available for use at the discretion of the Trustees in
furtherance of the general objectNes of the tharity and which have not been designated for other
purpose5.
Restritted funds are funds which are to be used in accordance with specific restrictions imposed bv
donors or which have been raised by the charity for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial slatements.
Investment income, gains and losses are allocated to the appropriate fund.
Redundancy and termination payments
Redulldanty and termination payments are included in the statement of financial artivity as and
when paid.

THE FLORENCE NIGHTINGALE MUSEUM TRUST
NOTESTOTHE FINANCIAL 5TATEMEFifs FOR THE YEAR ENDED 3QSEPTEM8ER 2022
Incorne fvom Donaoons andGraiits
rotal
Y¢arEnd*d
S•ptèmb
2022
ToLql
P￿01 Endod
20 SÈptÈrnbèr
2Q21
Donabons
CorDnavirusJRS Grant
4,322
4.312
103.94S
103,51S
418.050
4322
IWa.94S
814.732
Frytho pBriod ondod 30 Sutthnbur20ZY thurnwwgt398.09)dr¢Wi￿
¢orn• Irorn Charftabh ac￿¥5￿•
Tothl
oriod Endqd
30 Septemb
2021
Y•irEnded
2071
Admissions
86.046
18,0
Sch¢d adrnl1s￿I
34.356
15.237
34.358
15.237
2,838
1é,092
135.641
Y••rEnd•d
Pertod Enoed
30 S•ptttmMr
2021
2022
?35
Y.628
34.883
50.B33
Z35
83
Foi thq p•rtod wded 30 SOFI￿b￿r202I ihDrn4¥M£91698olre*iued ￿￿rt•.
Oth•rtradlng Incam
Totil
P•ntyd End•0
30 SvpternbBr
21
Y••rElld•d
30 S•p¥•mb•r
2•22
shop 5Ble
Répro￿¢￿0￿ nghls S
TalkWEvents inwrn•
BMk ol HthnoLY
SZ.137
52.1J7
1,6Q4
1.942
49,609
28.273
2.422
2.100
1.942
Other Income- IDaLYanc4
Oth•r Incom•. con￿b￿￿on I
MIKellaneous Income
175.300
11.648
6.154
74.B11
263 86fj

THE FLORENCE NIGHTING*LE MUSEUM TRLIST
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2022
Total
Year Ended
30 September
2022
Total
Period Ended
30 SepterTrber
2021
Ralsln9 funds
R?5trithd
Publi(aty
Support costs InDte 81
Shop purchases
2,417
2,417
401
600
20.909
23.326
20,909
23,326
Total
Year Ended
30 S*ptèmb*r
2022
Tot81
Peplod Ended
0 30 Sepiember
2021
Charitsble a¢t5vlt108- muièum op•raUon
Unr•¥trlcted
siaff Costs
Staff Irainbn￿confQr9n¢1$
lryecoverab* VAT
Education
Oulreath Educalion Costs
Projects
Websile Expense•
Prornises costs
E Musovm Mainlenar
l)fficelMuseum EquiwertlSuppl88
frHv
Cdleciion management
Volunteeer expenses
Depreciation
Reslricted grant exF4nthlure
Support G051$ (note 81
124.031
558
15.3201
2.482
1.525
2.072
09,810
193,841
558
15.3201
2.482
1.525
2.072
345.698
433
16,0351
80
505
99
164
7,134
10.385
10,385
3.360
331
2.432
267
109
331
697
49.181
49.181
21.729
142.008
29.612
21,729
118.991
281 722
523 306
For Iht peiic*J ended 30 Seplemtér 2021 th¥¢ was £455,632 of restricted eynthlure.

THE FLORENCE NIGHTINGALE MUSEUN TRUST
OTESTOTHE FIN￿NCIAL STATEMENT5 FOR ThE YEWt ENDEO 3D5EPTEMBER 2022
Year EndÉd
Support Cus15
Chariiable
RaiSinJ
swmber
2021
2022
Pnniing and siaiDI&y
T¢￿phOne ?n¢ posW¢
CoTh)putyrtg
Banking co515 Bnd eXc￿r￿ rattvAri4n¢es
General rnisc&laneL¥J$cos15
Insuranc4
1.475
1.928
7.153
11.2641
1,47$
1.928
7.153
11.2641
13
1.20
1740
B.788
3.220
(3.S761
10,U66
39fj
600
7.749
6.724
2.0
2.000
Fundrsisiry cO￿￿￿￿¢Y
GovemAn¢•
3.7
30.212
T4xaWon
Th* thadtsbltr t￿mpany11 •iAU lli wd purpDsN.
N•t In¢0m￿(exP*ndityThl
Y••rEndqd
J• S•pternbllt
Ended
30 S•pitmber
2021
Depraclaiic
In¢epwdinlEx•mlneri'
J.7
1.1
4.513
4.200
1.850
8.75B
DJiln9 In• y•ar, no Trusi•• r•uFv•d Jnybenefitsin lin¢ I2021- £NII
YHrÉnd•d
IQ 8•W•mb•r
2022
>J Sqsknmb
Stjff lo1￿..
178.215
315.526
21.414
8.756
YS.698
1•3.J41
Th• numb¥t¢fp•rt￿*￿QW4￿d byth•chAthy duhwth•
2Z
No.
2021
10
he•dwum e¥resHd eqwnknt
No.

THE FLORENCE P41GHTINGALÉ MUSEVPA ntUST
NOTE5TO THE FINANCIAL STATEP4ENTS FOR THE YEAR EPIDED 30 SEPTEMBER2D22
employee eairtd befften £60.0￿ & t?0.￿ dunng the bfarlZ021." 01
Key Mana9Ernenl c(Mnwsesthe tnJs*es. the ￿j$e￿n Llreaty. Fir￿￿ts lkrtw.v￿EXwe￿Ce & LeanMn9 ￿1￿￿9￿. aThJ Learning
Manager lfrom April 20221.
The ￿tal reMunErati￿ ofkfjy Ihe ￿arWa5 £147.24512021. £182,395)
InC￿￿￿d in 5al¥*s and fi¥J￿￿1£167.l32(2￿ll' 315.5261 wa5 r40?1". tZ,152 ￿ regafd5
12.
Tang&l•flll￿ •v40ts
Flxiwe¥
FitiThgs Equlpmeni
Totsl
COST
AI 1stOclllbei 2021
14￿740
4.82Q
954.818
ADDrrioNS
AI 3D StPtrmbffr2022
746
CIEPRÉ¢LATIO
Al l$1 Oclober2D21
Ch5rye IOT ihè
W.05Z
4.820
148.872
AI 30 S?p￿rnbor 2022
NET BOryKVALUE
At 30 Seplorn￿r 2021
io
746
AI 31 SBpi•mbryr 2021
10&746
74
AI flA•d a8tsot84r•us•d iofL¥411w
13.
LIDt•d
IIDrkei valu•
Al l Othhr 2021
R•valuatlons
1.431.417
At 30 Sowèmb•r2022
1.314.397
2022
U•t•d knv•th•m•
397
1 431487
14.
btow•
Y•4r End•d
31 S•wember
2022
Penod Endqd
30 Septemb
Trndè DebiOr*
PrepJwntni
Aecrued Insurnrth daim
VAT Oubknr
L)hw D?b*<￿¥
8.239
9.418
175.308
12.841
1,469
192.965
21

THE FLORENCE t41GHTINGALE MUSEUM TRUST
NOTES TO THE FINANCIAL STATEMEFnSFOR THÉ YEfvJI ENDED 305EFTEIABER2O22
Stock
Y••r End•d
SryplErnbllr
2022
P¢nod En
XISepiembBr
Gmt thop
24,352
30.648
YitrEhd•d
P•rknd End•J
30 sE￿bE[
2021
2022
Tr8￿? Creditors
TaX3￿n anrf s(KJal
CAhorcro4ih715
AecTu￿$
4.3SJ
3.795
3.513
3.764
12.216
17.
FlTrlln¢lal In•lnwn¢nt•
30 8•N•rnb•r
2022
30 Swmb•r
2021
Income expenttiture
Fln•nciAI as¥￿ mo•4￿￿91•m¢pl1￿¢ e¢41
1J14.397
13,021
8.239
1.439726
FIn•N(￿l ffl••*Jrnd
11.759
Fln•ndwl •14•t• tr•d• •r4 olhvrdvtkn.
Fln•n¢lAI EK9￿111*￿ rn•#urnd toHMRC.

TME FLORENCE NIGHf*4GALE MUSEUMTrtUsr
PIOTE5TO T AEFTr4ANCIALSTATE¥ENTSFOR TèIE YEAftErIL￿1o SEPTEJIBER30
Slat*mentolfvndB-¢￿rr•nl￿
Ewthty• frdnsTws 3OS•pt•Trkn•r2022
￿￿eT￿l￿
oes1g￿tedtynd5
570.
219.419
RSD.OWI
250.LiII
363.6
250.DUO
A19
186057
IngPltirtgChanp-
W¥V1 PalnliD95
CLw•rv41itin Fur
F￿￿nger￿￿•al1hw Eth
P•wyèfa￿VTfy51
2•￿0
I2.￿2
Quy%202D
SFacoleTNIt
W•llcomDTw51.5pwi¥l FbJ
lose L4ll•ryFvnd
Gllldsnuth¥lSTEM Pr
The NIohu￿￿￿F￿Q￿èp-
PBr&Bw￿￿n(O CuriioT
NLHLF. 8l.tèn￿￿ry
AF￿￿tr H¢¥p&id and1￿￿rIn•
4.272
4,272
1541
18,8s31
11.4761
1.4Y.W9
I&IT4
11.610
IY,6281
1111.OW)I
l.J57.BS•
I45￿)
19.32Z
So￿¢1Yrr￿St
T•iffjLoDth kn4Q•
{13.9291
(2.0ty)1
12.OWI
Ruy415uuety
LF.8nli*h Mlthry
150
4I6ts1
sn
117.090
T¢lblo1fi￿
2101 110
J7
192
250
l Awi¥ots
Tr•n¢w• 30 5•pt•mb•r2011
132•J7
IW.1241
frIGl•d lun
WW1
w￿01￿￿ Bt4rdstthiwoD
20?0
PA•ryS••wi• fty
4,27t
F￿￿
rJ.4401
12206
ts976
11A701
1,120
1122541
Hwll4g•Loli*ryFyn
O*d*￿1h1 I STEkl T••N
11x1
1,454,945
NLHLF-&.¢entqffl•ry
135.wl
(29.7211
11.134
41.>1
11.621
4.TOll
Muxyrnol ¢*¥nl
ILI9È Ennry4ncyFwd. COVIDI#
*C￿n￿l EWpn¢ R•co¥ery*ur
2.(Wl
IM.coJ)
1J7.2>]
45.OJ5
1644tyJ)
*17
2 1BI 110
23

THE FLQRENCENIGHTINGALE MU5EUMTRusr
NOTESTOTHE FINW4CWL STATEIIENT5FC*iTHEVEIR EIKIED XOSEPTEIIBER2
19.
20
Tangiblefiied
Ja14.3Y7
S750
.4CO
(23.OB81
105.746
T24.380
123CWI
cwrent￿55￿15
Cre&lL¥S Oue
IS4.14$1
72th1¥
A*Ji￿ordS￿r.
on01n1v￿1
In•to&
11FS.Y281
146.51
18,5211
2947
157.160
321.IC•
TW
FI￿￿fI.11*Hlty
R•thhdplrtytr4n￿IOn
¢ommhm•M•
24