THE FLORENCE NIGHTINGALE MUSEUM TRUST IA Company LFmiled by Guarant*èl FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 Registered number.. 02246583 Charity number- 299576
THE FLORENCE NIGHTINGALE MUSEUM TRUST CONTENTS Page Reference and Administrative Details of the Charity, its Trustees and Advisers Chalr's Statement Trustees, Report Independent Examiner5. Report statement of Financlal Activities io Balance Sheet li Statement of Cash Flows 12 Notes to the Financial Statements 13
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Llmlted by guarantee) Trustees Gillian Webber IFrom 18th November 20251 Jc•nathan Card Darren Barker Donna Curry Jane Dwelly Alison Hofman Iresi8ned 9th March 20261 ProfessorThomas Kearns (resigned 1st Oecember 20251 Jennifer Visser-Rogers Philip Mltthell Peter Kay Iresi8ned 24th April 20251 Dame Christine Beasley Iresigned 141h January 20251 Company reglstered number Charity registered number 02246583 0299576 Registered office Gassiot House 2 Lambeth Palace Road London SEI 7EW Independent exarniners Moore Kingston Smith LLP Floor 6 9 Appold Street London EC2A 2AP Bankers National Westminster Bank PIC London SE18 Investment Managers Sarasin & Partrters LLP 8NY Mellon Fund Mana8ers Ltd
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Llmited by guarantee Chalr's Statement for the Year Ended 30 Se tember 2025 The Chair presents her statement for the year. 2024125 was a period of significant change for the Florence Nightingale Musuem with both the Choir of the Trustees and the museum director moving on and the Vice-chair stepping up to lead while a new Chair and Director were recruited. It is a tribute to the staff and the trustee5 that despite this period of change the museum's core work of communicating Nightingale's work and legacy to visitors continued successfully, our accredited museum status was renewed and school visit figures remained Stable. The temporary exhibition programme was invigorated with the success of the Caring Componions exhibition which created a new draw for visitors, while the In Focus displays on Chief Kofoworola Abeni Pratt and Dame Cicely Saunders enabled us to diversify both our partnerships and visitors. I would like to express my thanks to Guy's and St Thomas, NHS Foundation Trust for their support as our landlord and also to Guardian Nurses and The North American Friends of the Florence Nightingale Museum, whose generous support allows us to 8row our global reach In North Americo. It is also thanks to the support of partnership organisations Including the London Brldge and Southbank BIDS and exhibition partners- Kings College London. the Kofoworola Abeni Pratt Fellowshlp and St Christopher's Hospice- that the musuem is able to continue growin8 our offering and grow our audiences. I would also like to thank Trustees who stepped down during the year- Commodore Alison Hoffman, Professor Thoma5 Kearns, Peter Kay and my predecessor as Chair, Dame Christine Beasley- for all their contribution5 to the Florence Nightingale Museum. Finally, the museum is indebted to the enthusiastic team of volunteers that support our work. Thank you. Gillian Webber Chair Florente Nightingale Museum Date:
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limited by guarantee) Trustees. Annual Report for the Year Ended 30 Se tember 2025 The Trustees present their annual report to6ether with the independently examlned flnancial statements of the Charity for the year ended 30 September 2025. The Trustees confirm that the Annual Report and financlal statements of the company comply with the current statutory requSremenls, the requirement5 of the company's governing doeument and the provision5 of the Statement of Recommended Practice ISORPI, applicable to charities preparing their accounts in actordance with the Financial Reporting Standard appllcable in the UK and Republic of Ireland IFR5 102}. Since the Charity qualrfie5 a5 Small under section 383, the strateglc report required of medium and large tompanies under The Companies Act 2006 IStrate8ic Report and Director's Reportl Re8ulatlon5 2013 is not requlred. The Trustees confSrm that the Charity Commission's general guidhnce on public benefit has been considered in relation to the objectives of the Charity. The report below sets out those objective5 and describes how they have been met in the current year. OBJECTIVES OF THE CHARITY The Trust's Memorandum of Association gives the gbjectives a5 the advancement of the education of nurses or those en8aged in nursing. In the furtherance of this objective, the governing document gives the Trust powers which intlude the following: To establish and maintaln a museum for the preseThatlon and wider display ol the Nightingale collection. To receive donations of suklable stems for the collection, or to purchase suitable ems. To facilitate research into the history and work of Florence Nightin8ale, particularly in relation to the first training school for nurse5 at St Thomas, H05Pital and con5equeThtial developments in the nursing profession. STRucfuRE. GOVERNANCE AND MANAGEMENT The company was established under a Memorandum of Association which established the objecls and powers of the charitable company and is 8overned under its Articles of Association. The Trustees, who are also directors of the company The Florence Nightingale Museum Trust durin8 the year and up to thè date of this report, were as follows..
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limited by guarantee) Trustees. Annual Report forthe Year Ended 30 Se tembèr 2025 Office Holders.. Chair.. Dame Chrlstlne Beasley Ire5igned 14thJanuary 20251 JennrferVisser-Rogers Ilnterlm from 14th January 2025-18th November 20251 Gillian Webberlfrom 18th November 20251 Vice Chair.. JennilerVisser-Roger5 Treasurer.. Jonathan Card Directors and Trustees.. Gllllan WebberlFrom 18th November 20251 Jonathan Card Darren Barker Donna Curry Jane Dwelly Allson Hofman Iresigned 9th March 20261 ProlÈssorThomas KearTrs IRe5igned 1st Decetnber 202SI JennrferVisser-Rogeis Peter Kay (resigned 24th April 20251 Dame Christine Bea51ey ISigned 14thJanuary 20251 Museum Director.. Kèiie Edward5 (resigned 14thJanuary 20251 Laura Sharpe (From 14th January 20251 Trustees are appolnted following advertisement and lrterwiew for period5 tsf up to 4 years. Trustees are inducted by the Chairwrf(hthe supp)rt of the Museum Dlrector. Trustees are also r)ffered training which ss supported by the Associ£t¢on of Indendent Museums. the Arts Council England, and Small Chèrities Coalition. Trustees retslndeci¢>n maklng power. worki08closely wlth the Museum Director. The Chair ffjeet5 the Mu5eurn OiTectorto fa¢ilitate detislon making not less than 0e per month. The Treasurer meets the Museum Director not less than quarterly. STRATEGICPLAN The objectives, formin8the basis of the strate8K plan of the Charlty. are asfollow5.' To secure a lon8-term locatlon to allow us to meet OUT a1rn5, and provide a platlorm for growth.. TD continue to be a financiallysustsinable and self-funding OfEafb15ation.' To Increase unre5trlcted lund5through an audience-specrfk marketing plan,. To create an enloyèble. Snsplrin8and enll8htenlnB expriencefor ourvisitors,. To provlde an actfve and InTh)vètfve events and learnin8 prosrafflme., To iffttrease attess to our urtique collertions; To be a centre foT research in the history of nuTsing', To value the development and effective mana8ement of staff and volunteers.
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limited by guarantee) Trustees. Annual Report for the Year Ended 30 September 2025 ACHIEVEMENTS AND PERFORMANCE The team have worked incredibly hard over the last year to attract new vi5itor5 and maintain stable figures across all areas. Both the Musuem Manager and Chair of ihe Board stepped down in January 2025, with the vice<hair of the board stepping up during the £ruitMent process and the Learning and Community Engagement Manager being promoted to Difertor. The staff team and board have been Incredibly supportive ensuring a smooth transltion period was achieved wlth minimal impact to overall operations. The largest project of the year was the 'Caring Companions, temporary exhibition running from October 2024, this InvIgorJted the larger temporary exhibition5 programme following on from the success of the smaller scale'ln Focus, programme launched the previous year. We saw an ijptSck of visitors comlng specifically to See the exhlbition and it also allowed us to develop our retall range and event programmirbg. Visitor feedback was overwhelmingly positive. especially for the VR (virtual reality) content developed in collaboration with Kings College London. Our In Focu5 programme of exhibitions has remained successful and the second in the series ' In Fotus.- Chief Kofoworola Abeni Pratt, allowed us to further diversify the stories we share and build stronger links with Guy's and St Thomas, NHS Trust. The relationshlps built with the Chief Nurse5 office and Kofoworola Abeni Pratt Foundation led to the exhibition being put on permanent display in St Thomas, Hospital followin8 Its run onsite at the musuem. The latest in the Series 'ln Focus: Dame Cicely Saunders, opened in July 2025 and has continued the pattern of buildin8 relationships with external partners and brlnging in new audiences. Our retail offering has strengthened with increased exhlbrtion programming giving more opportunities to develop bespoke lines. We are pleased to see our schools figures remainlng stable and we are seeing increased demand for visit5 from secondary schools. Feedback remains positive with a SiBnifitant number of repeat bookings annually. In August 2025 it was confirmed that the musuem has maintained full Accreditation status from the Arts Council England's Accredited Museum scheme. This is a well deserved recognition that we are working within the guidelines of industry best practice. particuarly In regard5 to the managament of our collection. We are pleased to see our enewsletter growing in popularity with subscriber numbers rislng monthlyi this direct marketing has led to a direct increase in event ticket sales and allowed us to contlnuing growing our events programme and the range of events on offer. We continue to be 5UPPOrted by a lar8e team of enthusiatic volunteers who glve theirtime and expertlse to enhance our visitor experience. We are incredibly grateful for their continued commltment.
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limited by guarantee) Trustees, Annual Report for the Year Ended 30 Se tember 2025 FINANCIAL REVIEW The Statement of Financial Activities shows that the unrestricted fund5 of the Museum increased in total by £30,78812024'. increase of £18,808). Restricted funds intfeased by a net £65,084 which is inclusive of a gain In the value of the Charrty's investment portfolio of £80,755 as at 30 September 202512024: restricted increase of £161,527. gain £160,060). In accordance with Charity Commission guidance the Trustees have agreed a reserves policy (see below) based on a realistic assessment of their reserves needs. It 15 not their policy to build up resources by retaining funds a5 a matter of habit. Any annual surpluses made are held to provide a prudenl provision for costs both foreseen. and unforeseen, which may be incurred in the future. Principal funding sources are shown in notes 2 to 5. Further details of restcted grants are given in note 18. MAINTENANCE OF RESERVES A5 per Charities Commission guidance The Twstees will aim to maintain appropriate reseThes in the future by careful budgeting and monitorin8 of income and expenditure. SEFfEMBER 2025 RESERVES POLICY It is not the policy of the Florence Nightingale Museum Trust to amass considerable financial reserves. The Trustees however do believe it is prudent that we maintain a financial position whereby we hold a minimum of nine months, operating Costs lapproximately £375.0001. We believe this is in line with Charities Commission guidance. At 30 September 2025 free reserves were £721,935 bein8 unrestricted net assets. RELATED PARTIES AND CONNEcfED ORGANISATIONS The Florence Ni8htin8ale Museum is located within the site of St. Thomas, Hospltal. The Guy's and St Thomas, NHS Foundation Trust is represented by a Trustee, but li does not have power5 to nominate Trustees. FUNDRAISING The Florence NightinBale Museum is a small charity wrih no fundralslng team. The Trustees endeavour to support the Director who lead5 on this responslbility. C¢Jrrently the Charity does not make use of professional fundraisers and has recetved no complaints in relation to fundraising practices during the period under review.
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limlted by guarantee) Trustees, Annual Report for the Year Ended 30 September 2025 VOLUNTEERS The Charity receives help from volunteers, without whom we would be unable to operate as succe55fully. Volunteers assist the organisation in many ways- the Trustees who set the strategy for the trust, volunteers who assist in the managerial process and provide advice on HR, and the volur)teers who support the events we create and deliver, both on 51te and digitally. Volunteering opportunities this year have included hosting univèrsity placements, work experience students and specialists delivering talks. RISK MANAGEMENT The Trustee5 confirm that they have identified and reviewed the major risks to which the Charity 15 exposed arKI hève established systems to mitigate those risks. Specificalty, they include.. Ensuring and operating sustainability within a changing economic environment A lean operational support model able to effectively and efficiently deliver Museum growth Data protection, privacy, and security of user data Protection of the collection and ACE Accredited Museum status Regular rnonltoring of short term cashflow and long-term funding of the Charlty Durin8 the year we carried out reviews of the security systems and emergency procedure5 plans and made djustments to reduce potentlal risks to the collection. GUARANTORS The Trustees are the Members of the Company which is limited by guarantee. In the event of winding up, the liability of each member is limited to £1. PAY POLICY FOR STAFF We are compliant with the Living Wa8e. A full staffing pay review has taken place and is being actioned for the 2026-27 financial year.
THE FLORENCE NIGHTINGALE MUSEUM TRUST (Limited by guarantee) Trustees. Annual Report for the Year Ended 30 September 2025 TRUSTEES, RESPONSIBILITIES The Trustees are responsible for preparing the Trustees, Report and the financial statements In accordance with applicable law and United Kingdom Accounting Starbdards (United Kingdom Generally Accepted Accounting Practice) including FRS 102 The Financial Reportbng Standard applicable in the UK and Republic of Ireland., Charity law requires the Trustees to prepare financial statements for each finantial year whlch glve a true and fair view of the state of affairs of the Charily and of the income and expenditure of the charitable company for that period. In preparing the financial statements, the Trustees are required to- select Suitable accounting policies and then apply them consistently,. obSee the methods and principles of the Charities SORP. make judgèments and estimates that are reasonable and prudent,. • slate whether appllcable UK Accounting Standards have been followed, subject to any material departu$ disclosed and explained In the financial statement5,' and prepare the financial statement5 on the going concern basis unless it is inappropriate to presume that the company will continue in busines5. The Trustees are responsible for keeping adequate accounting records that disclose with reasonable ccuracy at any time the financial position of the charitable company and to enable them to ensure that the financial statements comply with the Charities Act 2011. They are also responsible for safeguarding the assets of the Charity and hence takin8 reasonable steps for the prevention and detection of fraud and other irregularities. The Trustees are responsible forthe maintenance and integrity of the corporate and financlal ihfomiation Included on the Charity's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislatlon In otherjurSsdictKJns. SMALL COMPANIES EXEMPTION The above report has been prepared in accordance wtth the special provisions of Part 15 of the Companies Act 2CX)6 relating to small tompanies. This report, incorporating the Strategic report, was approved by the Trustees, in their capacity as companv director5, On . and signed on their behalf by: Gilllan Webber Chalr Jon ard Treasurer
Independent Examiner's Report to the Trustees ol The Florence NiEhtin£ale Museum Trust I report tv the charity trustees on rnyex3min31ion oftheoecounts of the Company forthe year ended 305eptember 2025 Rgwn51bl4Uesand b85150f report As the rharity trustees of the Trwtyou are re5pon5ible for the preparation of the accounts in accordancewth the requirements otthe Charlties Att 20111.ihe A£t'l Havin8 53tlsfieO myself that the accounts of the Company 3re not Tequired to be audited under part 16 of the 20D6 Act ènd are eliglble for indÈpÈndontxamin2tion, I report in rÈspect of my examination of yourcharity'5 actounts as tarrled out under section 145 of theChar¢tie5 Act 2011 (the 2011 Adl. In tèrryingout myexamin3tion I have followedthe Pirectiorls gS¥en by the Charity Comrnisslon under section 145151 Ibl ol the 2011 Ac IndepehdÈnt•X4mlnrf5 5tatqment 5Snce the tharity's gross Income exceeded £250.000 your examinermust be a membef ola budy Ii5tEd in section 145 of the Act I confirrn fvt l am qvalified to undprrake the examination because l am a memberef the In5tituteof Chartere(I Accountants ith England and Wales, which is one ol listed bodie5. I have compleied my exèmlnatknn. I conffirm tt no matters ha¥ come to my attentlon In ¢onnethon wfth the examlnation 81¥lng rne cause to bdieve= l accouThtinE cOrdS were not kept in respect of the Chawityis required by sertfjon 130 01 the 211)6 Act: or 2 the accounts dts not accord with those records. or 3 the atcounts dD notcoffiptywith the atcounting re4ulrements of sectSor$ 396 of the 2006 Aci other than any requirement ihat the accounts give a'true and fairview, which is not a matter considered as partof an Independent examin3tioa', or 4 the accounts havé not been prepared in accijwdance with thE rnEthods and prlnclple5 olthe Sratements of Recommended Pfactiie for accountin8 and reporting by thant$. I have no concerns and have come acr055 no other matters in tonnection wlth the examlnation to which attenlioTr Should be drawn In thls report order to enable a preper underst3ndinB of the accountsto r¢aehed. O&Y& K, L Jame5(ro$s Forandon behalf of Wore Klniston Smllh LiP Chartered Arcountants Fbor6 9 AppDld Street London EC2A 2AP Date.. 17 JunÈ 2026
THE FLQRE14(E NIGIMNGALE MUSEUM TRUST lilmlted by 8uaranel STAIEMEpif OF FINANUALACTIWTIES fDrtheYear Ended 305 mber ZO25 Totsl Year ended 30 Sept ¥)25 Total Total Year ended 305ept 2024 Total Unrestricted Re5trided Note Incom¢fr•M'. tJonat10Th5 and Brnnis Charitable actlvlties In¥estmÈnt i#corne OthÈr iradin8 IncLNne 11649 284,949 14,814 100,592 12,649 284,949 52.623 l(KJ.592 Y3,663 305,122 52,985 96,027 37,8OY 7otallncorr••nd Endowments 413,LX)4 3Y,8LYJ 450,813 517,797 Exp•Mlifure•n: Ralslogfunds Charitable acEl¥&rS 44.884 354,789 47.826 532,538 51,480 408,269 Tot•1 •xpenditrJre 399.673 453,153 580,361 Net IncorrllP•dr•} 13,331 15,671 52,567 Add.. txhlbklon r4lldd•lmed 17,4$6 17A56 72,842 Tr4nsler5 htwetn funds 18 l)theri*tozntsed yinsAlossesl NEt8alThs on Investments 13 80.755 ,755 NEt mo¥emgThtlD fvthd$ 39,788 95,872 180J35 Re¢oncMl•titim olfijnds.. Total fund5bTouxhtforward 691.147 1,677,713 2.18&525 Total fund5¢arrd lornva
THEFLORENCÈ NIGHTINGALE MUSEUM TRU BALANCESHEEfAS AT 30 September ZOZ5 20Z5 2OZ4 Note FhxodAssets Tangible assets Herit48e assets Investments 12 12 13 105.746 1.615.418 105.746 1,534,663 1.721.164 1.640,409 CurrentAssets Stock Debtors Cash at bank and in hènd 15 14 26.697 116,449 655,695 18,991 105,441 663.413 798WI 787.845 Qethtors: amourttsfalli duq wltNn oneyear 16 1553731 159.3941 NtCurr4nt A55et5 743,569 728,451 Net J55ets 2.464,733 2,358.860 CharityFunds Restritted funds Designated funds Unrestrirted fvnds 18 18 18 1.742.798 2se.OC¥) 471.935 1.677.713 250,0 441.147 Totsl Funds 2.464.733 2,368,860 For the finaTrctal year ended 30 SepteMr 2025 the compaThy wa5 entitled to exemption vnder5ecllon 477 ofthe CornpaniesAct 20D6 relatin8to small tompanieL No members have requlred the tompanyto obtsin an audlt of Itsaccountsfor the year in question in accordance with sectien 476 of the Companie5 Act 2006. The directors acknowkdge thdr responslbllltyforcomplyin8 with the requirements ol the Act with respect to accountin8 re£oids nd for the preparation of attounts. These accounts have been prepared in attordance wfth the provision5 applicable to companies subjectto the small companie5 re81rne. The financial statements were approved and authorlsed for issue bythe Trusteeson............. d siBned on their behalf by.. lian weLer (Chairl Jonathan Card (Tre urerl The r1$ on pages 13 to 25 form part of these Nnancial stst li
THE FLORENCE NIGHTINGALE MUSEUM TRUST Statement of Cash Flows Year ended 30 September 2025 Note 2025 2024 Cash flows from operating artivities: Net Cash (used Inl/provided by operating 3Ctivities 20 160.3421 189,0451 Cash flows from investing activities: Purchase of investments in year Dividends and interest from investments 52.623 52,985 Net cash provided by investing activities 52,623 52,985 Change in cash and cash equivalents in the year Cash and cash equivalents brought forward (7.7191 136,060} 663,413 699,473 Cash and cash equivalents carried forward 21 655,694 663,413 12
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. Accountln8 PolScles Basis of preparation of financial statements The financial statements have been prepared in accordance with Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charitie5 preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021 (Charities SORP IFRS 10211, the Financial Reporting Standard applicable In the UK and Republic of Ireland IFRS 1021 and the Companies Act 2006. Florence Nightingale Museum Trust meets the definltion of a publlc beneflt entlty under FRS 102. Assets and Ilabllitles are Inltlally recognlsed at hlstofical cost or transaction value unless otherwise stated in the rèlevant accountin8 policy. Company Status The charity is a company limited by guarantee re8iStered in England and Walès, ctsmpany number 02246583. Its re8iStered office addrèss is Gassiot House, 2 Lambeth Palace Road, London. SEI 7EW, which is also its principal place of operation. The principal activity of the charity remains that of running a museum. The member5 Qf the company are the Trustees named on page l. In the event of the charity being wound up, the liability in respert of the Euarantee is limited to £1 per member of the charity. The presentation currency is GBP and all amounts have beerb rounded to the nearest £. Golng Concern The financial statements are prepared on a going concern basis which assumes that the charitèble company wlll eontinue in operational existence for the foreseeable future. During the year, the charity achievèd net Income of £95.87212024: net income of £180,335). This is after taking into account unrealised gains ¢f £80,7SS12024'. unrealised gains of £160,060), before which the deficit would have amounted to £2,340 12024.. deficit £52,567). Due to the unrealised nature of the gatns and lossès on the charity's investment portFolio, the trusteès consider the latter figure as keyto understanding the financial perfonnance of the charity. The tru5tee5 have reviewed the financial foiecasts taking these factors into account for a period of at least twelve months from the date of approval of these financial Statements. These show that thè tharity has realistic expectation of meetin8 Its liabilities as they fall due and the trustees are satisfied that the assumption5 on which they are based are reasonable. Accordin8ly, they Continue to adopt the going concern basis in the preparation of the financial statements. Income All income Is recognlsed once the charity ha5 entitlement to the income, It Is probable that the income will be received, and the amount of income receivable can be measured reliably. 13
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. Accountlng Pollcles Itontlnuedl Expendltu Expenditure is recognised once there is a legal or constructive obli8ation to transfer economic benefit to third party, it is probable thal a transfer of economic benefits will be required in settlement and the amount of the obligatlon can be measured reliably. Expenditure is classified by activity. The costs of each activity are made up of the total of dlrect Costs and shared costs. including support costs involved in undertaking each activity. Direct costs attributable to a single activity aTe allotated directwto that activity. Shared costs whic ontribute lo more than one activity and support costs which are not attributable to a single activity are apportioned between those attivlties on a basis consistent with the use of resources. Central 5toff cost5 are allocated on the basis of time spent, and depreciation charges allocated on the portion of the asset's use. Support costs (museum 8overnancel are those cost5 incurred directly in support of expenditure on the objects of the charity. Expenditure on charitable activitles are costs incurred on the charity's educational operations, includin8 support ¢OSts and costs relating to the govemance of the charity apportioned to charitable activities. TangIb assèts and depredatlon All asset5 costin8 more than £5.000 are capltallsed. Tan8ible fjxed assets ore carried at cost, net of deprèclation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost of fixed assets, less their estimated re5Idual value, over their expected useful lives on the followin8 bases= Fixtures and fittings- lower of the remainin8 lease term or 10 years on a strai8ht-Ilne basls Olfice equipment- 4 years on a 5trai8ht-line basis rftaB• ass•ts.cabknlls•d Heritage assets that a tapitsllsed comprlse Florence Nightingale's owl and a series of paintings acquired at cost in 2013. Herltage a55ets- not capltalised Heritsge assets that are not capitalised tompri5e theTrust's collections of 'Nighttngalla' and associated artefacts, including letters, documents. personal effects, uniforms, artworks and other items which were largely collected by Dame Alicia Lloyd-still. former Matron of StThoma5' Hospital. Further detalls concerning the nature and extent of the collection are provided on the Museum's website. No value is attributed to the collections as reliable historical cost information is not available and due to the uniqueness of much of the collection, conventional valuation techniques are etther nol appropriate or cannot be obtained at a tost commensurate with the benefit thai might be derived by user5 01 the accounts. Therefore the trustees have adopted a non-retognition approach as permitted by FRS 102. Expenditure on preservaiion and restoration of the collection is written off in the Statement of Financial Actifftties as rt is incurred. 14
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. Accountlng Polldes (contlnuedl The Trust's collections were largely assembled by Dame Alicia Lloyd-still, who diligently gathered items brought to St Thomas. Hospltal during the early twentieth century, as the adoring British public recognised this to be thè 51te of Nightingale's first training school for nurses and wished to celebrate her life and chievements. In 1989. the Florence Nlghtlngale Museum Trust was formed to core for the ¢ollettlons, recogni5in8 the need for museurn expertise to administer recognised collècting 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 quallty and Sentimental value. As Nightingale is regarded as the founder of the nursinB profession, whosè work is still hi8hly relev?nt ioday. the museum receives research enquiries and wsits from the general publi¢ and from both the UK and global audiences. Nightingale is also recognised a pioneerlng statistieian and ¢ampai8ner. as well as a leading female icon. The exhibits assembled by Lloyd-still have been supplemented occasionally with a small number of addltlonal donations. most commonly reflecting Nightingale's legacy. The museum's collection of Nighlingale's letters are lar8ety held by the london Archive5 in order to facilitate public access. Furiher details of the nature and extent of the collections are available on the Museum's website http=Ilwww.florence-nightingale.co.uk. The definition of numbers in a collection is fairly arbitrary as single items accessioned may comprise 3 wlde range of artefacts, components or sUPPOrting papers. A new Colle¢tions Management System allows ) much clearer overview of the number of objects within the collection. Category Estlm*ed Number of Stems at 30 September 202S Letters Photographic materials Book5 & printed materials Textiles & uniforms Furniture, ceramic5 & others oblects Artworks & prints Melal work & jewellery 1,424 379 529 ioi 374 181 133 Is
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. Accountin8 Pollcles lcontlnued) Heritage assets- Acquisitions and disposals policy While the collertion was started in the Nightingale Training School with Dame Alicia Lloyd Still, in the last 100 years the have been a great number of additions to the collection. The Trust wlll consider acquisitions on a case by case basis, based on it5 Collections Development Policy. This policy covers acquisltions and disposals. Objects that fall under the categories for acquisilion will be atquired based on the Collection5 and General Managers recommendations and with the Board's approval. Areas covered include Ni8htin8ale's life & legacy and the Nightingale Trainin8 School. The Trust will consider disposal if objects are deemed to be outside of the collecting policy. These will be done with approval of the Board, advice from colleagues In other museums and inline with the Museum Association's Code of Ethits for Disposals. Herltage assets- Collections management The trustees, primary objertlve is to safeguard and develop the collections so that they can be made as accessible as possible now and in the future. This objective 15 delivered through programmes of dlsplay5, events, publications websites, fieldwork, research, documentation and collections care. Objects frorn 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 collections stores for re5earth and futu use. Herita8e assets- StoraBe and care The collection 15 displayed and stored accordin8 to recognised international standards for the Pfeventlon of material deterioration. Library and archive storage facilities and exhibitions are based upon and Informed by the requirements of BS 5454 and The National Archlves Standard for Record Repositories Herhtase assets- Do¢umentail¢n Objects In the collection are documented in accordance with Arts Council England requirements and SPECTRUM. The Trust will- have secure title to all objects in the eollertion. hold basic data on every object so that it can be unlquely identified and the collection audited regularly.. ensure records relating to objects in the collection are enhanced and made available to audiences where appropriate. 16
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. A¢countln8 Polieies {tontinued) Non incluslon of Herftage Assets In the Balance Sheet In the opinion of the Trustees, reliable information on cost or value is not available for the Trust'5 collections acquired prior to April 2010. This is owin8 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. Investments Flxed asset investments are a form of financial instrument and are initially recognised at their transaction cost and subsequently measured at falr value at the Balance Sheet date, unless fail value cannot be measured reliably in which case it is measured at cost less impairment. Investment gain5 and losses. whether realised or unrealised, are combined and shown in the heading'Gains/llossesl on investments, in the Statement of Financial Actbvities Incorporating Income and Expenditure Account. Interest receivable Interest on funds held on deposit is included when receivable and the amount can be meaSUd reliably by the charity: this is normally upon notification of the interest paid or payable by the Bank. Stock Stocks are valued at the lower of cost and net realisable value after making do allowance for obsolete and slow-moving stocks. Cost includes all direct Costs and an appropriate proportion of fixed and variable overheads. Debtors Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayment5 are valued at the amount prepaid net of any trade dlsttjunts due. Cash at Bank and In hand Cash at bank and in hand includes c35h 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. 17
THE FLORENCE NIGHTINGALE MUSEUM TRUST NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 SEPTEMBER 2025 l. A¢¢ountin8 Policie5 leontinuedl Llablllties ond provisions Liabilities are recognised when there is an obligation at the Balance Sheet date as a result of a past evenl, 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 arnount that the charity anticipates it will pay to settle the debt or the amount it has received as advanced payment5 forlhe 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 al the pre-tax discount rate that reflects the risks 5pecrfic to the liability. The unwinding of the discount is recognised within interest payable and similar charges. Financial instrurnent5 Apart from its investments, the charity only has financial assets and finantial liabilitles of a kln(I that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequentty measured at their settlement value with the exception of bank loans which are subsequently measured at amortlsed cost usinB the effertive interest method. Fund accounting General funds are unrestricted funds which are available for use at the discretion of the Trustees In furtherance of the general objertives of the charity and which have not been designated for other purposes. Restricted funds are funds whlch are to be used in accordance with specific restrictions imposed by donors or which have been raised by the charity for particular purposes. The costs of ralsing and administering such fund5 are char8ed against the Specific furhd. The aim and use of each restritted is set OLtt in the notes to the financial statement5. Redundancy ond tem)inatlon payments Redundancy and termination payment5 are included in the statement of financial activity as and when paid. 18
THE FLORENf4NIfjYTINGAiEMUSIUMTrUST rKITESTO THE FINANa4lSTAIEMENTSFOR THEyFAREtrWJOSEPTEUBERll5 IvdmrnelrornooTratmènd Grnrt5 Tot•1 YeprEnded J¢September Yearended 30Septembe 2024 Unr25trined estrictÈ 11649 JL649 73.66 12.649 73.663 Toui YeaiEnded J05tptembei 2025 Total Yearended 305eptember 2024 lJnre5trided Rlustum o ttètiOnS'. Admissions GrDUP a&ni55hn5 Educatknn 5clwl adm15SiOnS {trea[hedu[allOn Incamo 165.471 17,897 165A71 18F,173 26.208 71,728 19,853 7Ln8 69.557 11.184 2Y.949 2NM9 305,122 Totsi Y*•rEhded 3tsSHpterrthei 2025 Ytai ended 305eptember 2024 unrtstrfcted Re5trictEd 37Cl) 5162> 52.985 14,814 37.809 Forthe year endpd30SeptÉtnbÉr2O241 thÉrewa4£17.13001 restrictedlnv25tment incL¥ne. otrIr•Mè Total YearEndEd 30September 202$ Yearended 30Se0Mtr 2014 Unre5trkted Re5tdffled Shopsale5 ReproduCtiW liehts & Royaltles lalk51£vents Incorne Wall & DfHwour Le8a¢ies Ae(eived MdIaerJ$ Income 85.147 366 io,iii 4.968 05.147 87,7S3 359 315 16LX) .111 I,592 ltyJ.592
TrEFLORENCE NNlIGlE MUSELIMTRusr NOTE5TOTHE FINANCIAiSTAIEMEtirs FOR THEYEAR ENDEO JOSEPTEMBER2025 Tot*1 Yeav End JD5eptember 2025 Total Yearended September 2024 R•lth¥ funds ertrkted Re#rf¢ted PublIty Shop purchases 4,296 40,S88 44,884 2,231 45.594 4726 40.588 44.884 Totsi YearEnded 30SeptembEr 2025 Total Ytarended
)SepteM 2024 CharilJblEadlvltles- rnusethmop2rntk+n Unrtstirtttd Resirtrted StsfF Cost5 Staff tra1n1rCoThferens IrrecoverableVAT Education Outreach Educatlon Costs Projetts Website Expenses Prern15esc05ts Offtelmuseum Eguipmentlswplies Travel Co1Ctio manageffjent Volwteer expenses Othertost5 Restrifttd grantexpenditure Suw)ortC05ts (note8) 194.574 832 93 32,969 8,607 33,264 1,2fA) 18.141 6.612 433 1,467 37, 218.386 93 1,686 18.235 10,691 2C.840 1.155 16,134 3.146 418 L097 L45S 32.959 8.607 33364 13 18,141 6h12 423 IA67 486 S77 JS*7J 55.474 577 15,671 11593 3A937 55A74 354,789 53,480 269 S3L53B Forthe perlod ended 30Septernber2024there wos £49.723 of iesifitted expendlture.
THE FLORENtE NNTINlIE MIJSEUMTAVST P40TESTOIHEmAfvfLdLSTATEMENTS FOR THEYEAR ENDEDXSEPTEMBER2025 YeDI Ended 30Sepiembpr YearEndeO 305eptember 2024 SuppDrt C05tS chatab Pwlnting andstationery TephOTre and POStsEe Computin8 Bankln8 C05rsand eKch&nyvarfan(e5 General MislneoUS(9Sts InSurtnce Legal and profwbfft&l fee5 FundialSiThttttt15uitsnry Governance 1,6 2.156 Y.905 6,268 772 9,197 Jl,268 IA75 1156 2.251 1,810 7,753 6,910 1,?58 8.915 1,986 IF2 197 IL268 14J33 5,S54 59,474 55.474 36.937 T•xJyo Theehaiiiablecompany exempt Iromcorporatyontaxasall Incorne ts tharhaWe•rtd lsapplled lorcharftat4epurpJ5U. ptlncomEIIExpendlturel YearETrdE 30SepteThbr yearEj¢d
September 2024 Thi%lsststed afterchar8in8'. DepreciatlD InJependentExamlners' rernunernllon l)theisefV- payrr>ll ènd accountantyfees 7(hJ 2.104 Jilngtheyear. ThoTruStee recek¥edanyremunerntyon12024- EThi rwiSngihe yeay. noTw51ee eNdanYbnrl5 inndIo24- Enill thjiing iheyeai, noTtuStee recetyed reimburseDnt of per12024- £nill ii. w515 YearEnded 30Spptetnbe 2024 305eptember 5taflcostswèrèa51cllo¥Js'. Salarlesand We& 111576 201.319 121>78 4,989 218,386 stsft Pen5K>nS %957 231383 The avei4¥e nurytherof petson$ ¢mpknyed bythÈ tharitydurlnlthe yearwAS asfrollow$-. 2015 2024 No. No. of employee52arnln8rnore than£.(1x)nnBIh¥Èar.' nlllX24' nlll Key MèDaÈementcomprises lhetru5tee5.the DlreMor1pr0VSl¥GÈneral Mana8erl. Flnance Mawrand PErsevertnt Curator. ThetDtsl remuneraiigD ol kevm6na8eMent&urit4¢tk*l was £11429812024..É14O,4021
TMERofiENCENIGMTINGALE MUSEUM TRUST IIOTtSTO FINANCJAL STATEMtiirsfOR ThEYEAR ENDED aOSEPTEMBER1025 IL TarylNeftxed issets Fre$& Offl¢e Totsi 05r At IstOctvber2024 105.746 844.052 4,820 954.618 fON5 At 30Septtrtther2025 105.746 844A52 4.820 DEPRECIATiof4 At tst Octobw2024 Char8e theyeai 844.052 4J20 At30Sèptsrnber2025 844.052 4A20 84U72 NE[ BOOK VALUE At305epternber 2025 105,746 746 At30September 24 105.346 105.746 Itaniibletixed J55et511eu5ed tOfu1theCrv,S oblect5. 13. Fixed•5setln¥e51ments 115ted SEcurftiE5 Mark*t¥aluo Atl Ortober2024 RevaluatKJns Addltions kn yeai At 30September2025 1.534.663 80.755 1615.418 1nve5LMnts te[ValuEc¢>ffipr15e'. 2024 tthd investments 1,61VI8 1.534.663 The h15t4>[ cos1ofiis investmentsis £l.OCOmJ. riebtors 1024 Trade Debtors Prepayments ExhSbitlonTax Rellef Debtoi Other DÈbtors 16.775 12,47D 72A42 3.354 114449 105.441
THÉRORENCE NIGHll14GAIE MUSEUM Trusr
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