Charity registration number 306338 Company reglstratlon number 00946307 (England and Wale51 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS ANNUAL REPORT AND FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs J C Pdsricha (Chairman) M J Scott L Filtoii ALLee Mi N Sutherland S Labedz (Vice Chairman) J E Jones-warner J C F Harvey CSRSX IAppolnted 12 July 20241 IAppolnl8d 16 May 20251 8acrgtary CSRIX Charity numb•r 306338 Company number 00946307 Prln¢lpal addr•$$ Singleton Chichester Wèst Susséx P018 OEU Reglstered offlce W081d and Downland Open Air Mu88um Sin91glon Chichester Wesl Sussex P018 OEU Audltor Sumer ALklit Piper House 4 Dukes Court Bognor Road Chichester Wesl Sussex P019 8FX Bank•rs B3rclay5 Bank plc 74175 East Stro01 Chiche51er West Sussex P019 1HT Soll¢ltor$ Irwin Mitchall Irwin Mitchell Solic((ors Thomas Eggar Housè Friary Lane Chlchesier Wesl Susgex P019 1UF WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS CONTENTS Page Trustees. Ipport Statemènt or Irusl8gs' responslbllllles Indèpandent 8udllor's report 8-10 Statement ol financial activities Ba18n¢e sheet 12 Ststemenl of cash flows 13 Not8s lo thè financial stat•m8nls 14-33 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) FOR THE YEAR ENDED 31 DECEMBER 2024 Chalrman's Annual Report 2024 On behalf of the Board of Trustees. l am imrnen5ely proud of the entire Mu5eurn tearn for their 3chievernents in 2024. DeSFlte lacing challenges such as inclemènt weather that impacled visitor numbers and financial performance, the leam remained r8sili8nt. positive, and 8n8rg8tic. Their d8dication 8nsur8d that our Charitable Obj8cls werg soundly d8livered onc8 again. Our mission is to stimulate public interest in and promote the preservation of buildings of architec￿ra1 or historical interest and Sn ancient crafts, trad8s, and Manufacture5. Education Is al tho heart of oijr rni851on, and the team has been r850urcelul in uulising the Museurn's Collection ol ov8r So historic buildings, p8riod gardens, artelacts, traditional farm animals, and Ihe rnill pond lo inspire, educate, and entertain our vi51tor5. Imaginative Immersion A significant achievement was the imaginative programme of immersive inl8rpretation days, activities, ¥nd events s?anning the 'Rilual Yearf Ihroughout 2024. Starting wilh Plouoh Monday in Jonuary, visilors could see, h8ai, $mg11, and evgn tas19 Ihg ways in whi¢h our ancestors Iiv9d in the Wgald & Downland r9gion. Thetll8s such as br9wing, cooking. dressing. hurdle rnakino. and tharcoal burning were brought lo life, enriching vi511ors' understanding ol the rural viorking poor's lives. Preservlng Hlstorlc Bulldlngs An irnportanl rnilestone wa5 reathed Mrilh the final stage of the conservation and repair ol Ihe l¢onlc 16th Ctsnlury Tllchlield Market Hall. lrnprovtsd acc8SS to tho surrounding ¢ourty&rd area h8s now lully op6n&d the Hall to visitors. The Board of Tru5t889 3lso supported the creation of a new senior post, appointing a Head of Collections and Sile Operations. Prornoting Intere8t in Ancient Cwafts and TTadeB Th8 Museurn was delighted lo welcorne young peopl8 frorn across Ihe rcgion to Taslcr Days and cxlondod Icarning opportunilie5 in ancient rural Crafts and trados. In parhor5hip with the Sussex Hgrilaga Trust and fUr￿$d by the South Downs National Park Authorbty, we d8livered Iralning days dg$ign•d lo ￿n￿Urage the nexl gen8rdlion ol build8r5 into building conservation careers. Education at th8 Haart of Our Mission Wa ar8 proud to b8 the hom8 01 two Master's Degr88 Programm8s. validat8d by Ihè University ol York. In 2024. the University exlended our relationship, enabling the Building Conservation and Timber Buildin9 ConseNalion Courses lo run until al le8s12030. Maklng the Collecllon Avallable to Otherg In 2024, the Museurn ernbarked on an arnbilious project lo digitally archive ils vast colleell)n of photographic slld88 and hisioric rnatèrSals. We are axlrèmely grateful lo th8 staff and volunteers who h£vè conlribuled lo this project. L$adershlp Thp Weald & Downland Llvlng Museum èmbraced 8 ¢hanye ol leadership Sn 2024. We art grateful lo oulgolng Museum Director Sirncn Wardell for his hard work and achievements. W8 welcomed Professor Tilly Blyih as his successor, but in April 2025 Tilly w95 gppointed to a senior post al the Imperial War Museurn and will leave the Museum later this year. Wè th8nk her for her signrficant ccnlribution in 8 short psriod. Wè arg activèly rècruiting a new Mustum Dirèctor. Looklng to th8 Future The ongoing cost ol living crisis, uncertain weather patterns due to climate change. Bnd threats to Ihe economic anvironmant through political changtt r¥presont challongas lor th¥ Mus&um. Additionally, Iho Gridshèll Building, roof wll be a key fDCUS ol fundraising in the coming years. Gratitude Ind Optirnism Wve are graltlul lo our visitors, Member$, granl-awarding bodies, and other generous supporters viho make il possible to achieve our Ch8ritable aims. I would like to th£nk the Museum's 808rd ol Trustees and Ihe Trustees of Ihe Musgurn's Endowment Trust for their si9nill¢anl support Ovgr Ihe year. As w8 look ah8ad, we do 50 Wlth a s8ns8 ol excitem8nt and optimiim. With thè unwav8rlng sUPPOrt ol our Trustees, and Ih extraordinary wmmitmenl of our 518ff and vol(Jnteers, we are confident that the Museum will continue to thrive and inspire futur8 generation5. We eagerly anlicipal8 the n)any opportunities and achievernenls Ihal I￿ ahead in 2025 and beyond. Thank you lor being a vital part ol our joumey. Together, we will ¢x)ntinue to honour our heritage, preserve our history, and create a vibrant, engaging future for the Weald & Downland Living Museum. Jo Pasrich Chalr, Board of Trusloes, Weald & Downland Llvlng Musgum March 2C>25 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 The trust￿8 presen1 It￿1r rtsport and ¢onsolldaled Ilnan¢ial slatamanls for th& year &ndad 31 Decembar 2024. The linan¢ial slatemenis hove baen prèpared in ac¢ord8n¢e with the a¢¢ounb"ng policies set OLJt lrn note 1 to the financial slatements and comply with th8 charity's governing document. the Companies Act 2006 and 'Accounlng and Reportlng by Charities.. Slalement of Recommended Practice applicable to charit￿8 preparing their accounts in accordance with the Financial Repo￿.n9 Standard 8ppli¢8ble in the UK and Republic ol I￿land IFRS 1021 leffe¢live 1 Jawary 20191.. Objectivè$ and aclivitiè& The Gharity'5 rnain objeGts are.. To stlmulalo publlc intcrost In and lo promolo and oncouragc the prosorvatlon of bulldlngs of archltectural or historical interest an￿ to stimulate public interest in ancient craft6, trades and manLrfactura8. Th8 trust898 approved in 2011 the following long lerm "Vi810ll' 35 Ihe over-arGhing theme for the prK)rilies objectives for the Museum., "A centre ef excellence for the enjoyment, learnlng and understandSng of the bullt envIronM￿l, landscape, rural Ilfe and ¢ommunitie8 of South E•¥t England and the South Down¥-. Wilh that vision in mind the Museum's obje¢tr'ves hove not changed under each of the following key oim5'. 1. To run op•n alr rnus•um whlch Insplr•g and d•llghts Its LN•rg. 2. To provide lifelong leaming based on the Museum's collections and other resources. 3. To •nsur• high 8tsnd•rd$ of ¢oll•¢lion'8 ¢4r•. 4. To pursu¢ r050ar¢h and $¢holar$hlp. Slr8tèglès for8chlèvlng alms and Dbj•cllv8s In delivering these objectives tha Museum employed 58 staff during tha yaar, together wilh over 400 vclunteers who contribute in excess of 40,000 hours in a normal year, in support ol Dur charitable mission to operate an open air museum. Staff worked auoss a wide range of a¢livilies Including visitor servictts, intcrprct8lion, curalino the ￿llectiOns, the s¢hools service. adult educalion and special events. Public b$n¢fil The Iruslees hove paid due regard lo Ihe widance on public benefit issued by the Charity Commission in decidinu what activities the charity should undertake. Our ehariiablts purposes are mainly in the category of the advancement of the arts. culture and heritage. sir8t•o1¢ r¢port The description under the headings 'Achievernenls and perf0mlan￿. and "Financial review meet the company law r9quirements for the Irusl$os lo prgsenl a slrolggi¢ report. WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Achievements and perfomiance SlgnifiGai?l a¢ts'vlti&$ 8nd achi&veinenls a9aiJ?sl obl8Gllves Overall Porformance This year has presented $ignifiG8nt challengeg for museums and the Cultural sedor, driven18rgely by the cosi-ol-living Grisi$ and a reduction in discretionary SFending. A5 a re5uIt. we saw a decline in visitDr numbers at the Vveald and Downland Living Museum, with 123,600 visitors Compared to approximately 135,000 last year. As an open-air museurn. we are particularfy vulnerable to adverse weather conditions. In 2024, extreme weather posed nolabla oparatlonal challeng8s. W& 8xparionced thrèa w8athèr-rèlalad closuros. Includlng thè cancèllallon ol our major omm8rcial Adv8nt ?venl dug lo Slorrn Burt. rhesg closurgs signifiG8nlly itnp3ded our fingnGial perform8nGe, affeGling both adrnis5ion revenue and cornrnercial operations. Commorclel P•rtormanc• Despite the bioader chall8nges. our commercial operations have dtmonslraled resilieneo and adaptability, hSghlSghts'ng the Museum's capacity to diversify its revenu8 Streams. This success is a strong foundation for future grcwlh opportunilies. Additionally, our mèmbership numbers hove rernained Slable, prowidlng a solid base io delivgr èngagin9 and enrl¢hing xperiencès for our local and committ8d ¢ornmunilit$. Educational Programmes Our short coursp8 and Masler's-level prograrnmes continue to dernonslrate their value, offering divprse leaming experiences for adulls In heritage and craft skil￿. Our two Msc ¢tsurses in Building Conservation and Timber 8uilding Conservalion, r8-valid8led tris year by the University ol York, have shown Strong rettuilmenl and remain vital to our educational rnis$ion. Thls y8ar our offgr was &xiended lo slud8nl8 vla a partnershlp wllh Ihg Sussex Herlla9e Trust, lo dollv8r'la$ier days, for those inlgrested in developing 8ki118 in heritage and conservats'on, such as flint walling, wai118 and daub. and hurdle making. W$ Con￿nUt lo provldg an Smpr&s$lvo g¢hool$ offgr and havg malnlalngd bursary fundlng 19 support school vl$lls. Th& rising c061 of travel and lighler schjol budge15 have made il more difficult for schools to participate, limiting sludenl involvement in Museum activitie5. Futurg Focus and Stratoglc Dlr8Ctlon S•1 withSn a stunnlng and historic landscap8, th8 W8ald and Downland Llvlng Muséum is uniqu8 duo to its hlslorlc buildSngs. focus on craft sKill3 an¢ rural life, 8nd the InC￿aible 5UPPOrt from our comrnunity. DesPIt8 the financ131 Ghallenges and operation81 pre5sure5 reflecled in )ur accounts, l am confident in our ability lo address these issues Ihrough both revenue gensialitsn and cost management strategie$. Looking ahead, our key priorities include building a unified vision for the Museum's future, conducting research to better nd¥rstand our audienc¥s and th¥ir neèds, mainlainlng ¢ur dssignal¥d coll¥Gtion of hi8￿n¢ timb¥r bullding¥, and ral?ing fvnd8 for the refurbishment ol our flagship building, the Downland Gridshg11. Aeknowladyomènts The conllnugd passlon and dedi¢81ion of our staff and volunteer8 have been uucial lo our suec08s. We ar& deeply appr8ciativg of th8 40,000+ hours of volunteer time contribut8d to thg Museurn in 2Q24. Slmon Wardtsll 8leppe(J down as Nlugeurn Diroetor in Ociober 2024. Under Simon'8 lenure, whleh spanned over six years, the Museurn successfully navigated the complexities ol the pandemic, completed significant thilding consetvalion projects, an eveloped important educational portnerships. His efforts hove positioned the Museum well lor the future. WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Financial review 111 2024 unreslriGled inGonie tolallEd £3,339,70912023 £3,395,451). The net result for tlie year in unrestricted funds was a èficit of £327,73712023 ..£284,8181 induding thè grant ol funds to Thè Wèald & DOwn1a￿ Opèn Air Museum Endowmgnt Tru51 of £66,82312023 £300,000). whiGh wa5 rnore than off59t by th& receipt of a grant frotn the Endowrnenl Tru51 of £160.00012023. £01. Total expenditure Dn Un￿strICted funds was £3,558,70112023.' £3,677.2691 including the grant referred to above. The level of exp8ndlluré also rtsflecis invaslmant in Ihe Museum ihrough additSon81 recru￿￿nI ol staff The cash oulflow for the year from operaliDns was £72,22512023.' inflow of £406,3031. Expenditure cffl tsngible th'xed assets lolalled £57,476 and on heritage assets- lar9ely Market Squar8 Resurfaclng- £84.356. Thè net r8duct.on in cash was L204,804 givln9 a year ènd cash balance of £333,674. The nel deli￿1 on restricteo funds ￿aS £98,204, which primarily related to clepr8ciation on fixeo assgts n8t of a trans18r from unrestricted funds.in respecl ol fil-hfield Market Hall and Square resurfacing. At th& bala￿* shèèt data. assèts héld In unr•strict8d lunds wère £951,13112023'. £1,278,868) and in rastrict8d funds w•r8 £9,798,72012023.. £9,896,98411o give lolal lunds of £10,749,85112023.. £11,175,852). Reserrfe8 policy Reserves pollcy Th8 Museum sets an annual operating budg81 which includes a detailed cash flow forecast. The lorecasl takes into account the seasonality ol the Museurn's q)ergtions, likely capilal spend and any non-operalional sources ol funding. The cash flow is monltored On an on-9olng bo6ls, ond r&loreca8ts ore made durlng the year when thoro ore malorlal chan9¢9 In circumstances. Any surplus lunds may, al the discretion ol the Trustees, be transferred lo the Weald & Downland Open Air Museum Endowment Trust lo manege on ils behalf., the Endowmenl Trust mey also make grants or loans lo the Museum to support its 8clivilio$. A6 a result of this, the Museum doès not h8ve a fixèd levèl of reserwès whid) il seeks lo maintain 318ny one lirne but aims lo ensura Ihal It has rnora than sumicient haddroom, in particular, to manage sèasonal variations, wilh allowanctr lor any unexpected events. At 31 Decernber 2024, the cash balance held by the Museurn wa5 £333,674, ané the level of unreslricled funds repr858nt8d by r￿1 current assets was £154.961. p*￿ balance sheet events Th8re ar8 no significant post balance sheet events which require disdosure in these accounts. Golng concern Al 31 December 2024, the Museum hA(J no borrowings and cash b31ances of £333,674. It h8s conllnu#d lo mgnagè ity tssh and costs carefully, 8nd to reforec8St the likely out-lurn in results as circumslances change, A5 a result of thi5, and Ihe on-going SUPPOrt of the W8ald & Downland Opon Air Museum Endowmant Trust, Ihg Trustges ¢on$ider Ihal Ihg Musgum has sufficient resources lo continue as a going concern lor th8 foreseeable lulure. Majornsks Rlsk rovlgw The major risk lo whith the Museum has been exposed in ￿cent years has be&n the worldwide Covid-19 pandemic. although the impact was greatly reduced in 2024. Other risks whi-h may impact the Museum and which are managed b5, Ihe Trustees and managemenl l8am as part of Ih8ir on-going gov8rn8nc8 8n¢J monitoring proce5585 includg., Risk that visitor number8 and in¢trm& do no1 mts61 oxpeclations Risk that th8 Musoum falls to attract sufflci8nt rèsourc8s to adgquataly rnalntsin Its ngw and axislng buildlngs WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Plans for fvture periods In reseiring prlorllles for the Museum post Gatèway, we are now worklng toward dellverlng the S siraieglc alms from ihe 5 year plan. 1. To become Ihe museum of Choi￿ by creating best-in-dass exp8rienc85. 2. To be a Cenire of Excellen￿ lor lifelong learning based on our Designated collections. 3. To ba be51 practice custodians for our collections. 4. To be a v(ioe of authority in vemacular architecture and rural social history. 5. To be known as a good employer and a greai place lo work and volunteer. 8tructur•. 9ovemanc• and managemont The charity is a company limited by guarantee and is governed by its Memorandum and Articles ol Association. Th8 Iruslees, who are also the directors lor the purpose of company law. and who served during ihe year and up lo the date of signature ol the financial staternenls were.. Mr M J Lewls Irs J C Pasri¢ho IGhoirm8nl S. P Loos8rnor8 (Hon S8cr8taryl l J Scoll L Fitton ALLee Ir N Sulh8rl8nd S Labedz (Vice Chairman) J E Jones-warner JCFHaNey CSRIX IRe$lgned 16 May 20251 IR8sign80 1ti May 202bl (Appointed 12 July 20241 (Appointed 16 May 20251 Rgcmilmenl 8nJ gppoinlmenl of Imslees Non8 of the Iru5te85 has any beneficial int8resl in the cunpany. All Of the trusl88s *r• rnèmbèrs of the con)pany and guarantee to contribute £1 in th8 event of a winding up. The Iruslee5 are appointed lo the board in accordanee ￿'ith the Memorandurn and Ariides ol A&8ociation. New trustees 3re oiven essenti81 do¢uments includino the M*mor8ndum and Arti¢les ol Asso¢i81ion, recent a¢c¢unls, end ouidanc¥ as to Ihtrir r8spon5ibilities. The Chairman, Tr8asur8r, Ithuseum Director and senlor staff m881 the new trus18 individually for briefing. Or9&nisalion81 stwcture Thp trustge5 appointed the Weald and Downland Open Air Museum Limited lyjard to rnanage the group activity through and with the Museurn Diredor and her staff. The day to day management ol the charity is delegated to the Museum Director. The pay and remuneration of the director and other key personnel is Sel by comparison Nilh sirnilar charitable organisations in the h8rllaoe sector. When recruitlng to replace key staff, or to flll a new posltlon, consultant sUPPOrt frorn the sector will be U58d. WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS TRUSTEES. REPORT (INCLUDING DIRECTORS. REPORT AND STRATEGIC REPORT) (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Rel81ionship with rel8led p8rtie$ Note 29 give5 details of tlie subsidiary Gonipany of Vveald aiid Dowiiland Open Ar Museuin Liiiiiled. Singletoii Mu5eui S6rvicas Limilad is a trading subsidiary (company no. 14376951. The trustees consider the performance of the subsidiary to be satisfactory. Thg trus1995 havg a5595$e(J thfj Mu59um's gov9rnanc9 against thg Cvde of Good Gov9rn3ncg for ¢hg Voluntary and Community Sector (Second Edition. October 20101 and have confirmed the Museurn's material Complian￿ with the code. This will be r8vi8w8d peiiodically. Promotlng Ihg su¢¢•ss of the company Nolo 25 sets out an analysis of the asstrts allribulablg lo th$ various funds on¢J a dg$¢riplion of Ihg trusts. Th¢so assets aro sufficient to meet the charity's obligations on a fund by fund basis. Audltor The auditors, Sumer Audit. are deemed to be reappointed under section 487121 of the Companies Ad 2006. Disclosure of irrformation to auditor Eaah of thg Iruslees ha5 confirrned Ihal there is no inlortnalion ol whiah they ale awar8 which is rglevanl lo the audit. bul of vihich the auditor is unaware. They have lurthcr confirmed that they have laken appropriate steps to *lonlty such relevant information and lo èstablish that thè auditor is awaro of such inloimalion. S Labedz (Vice Chairman) Tru8t•• 26 September 2025 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS STATEMENT OF TRUSTEES. RESPONSIBILITIES FOR THE YEAR ENDED 31 DECEMBER 2024 Th8 Irust88s, who are also th8 directors ol Vveald and Downland Op8n Air Mu5eurn Lirnit8d lor th8 purp058 of company law, re responsible for preparing the Truslee5' Report and the financial staternenls in 8ccordance with applicable law and United Kingdom Accounlin9 Standards (Unitod Kin9dom Gonerally Accepted Accounting Pra¢li¢el. Company Law requires the trustees lo prepare financial 51atements fr)r each finanrial yÈar which give a true and fair view of thè slatè of affairs ol tha charity and ol th* incoming rèsources and application ol rasourcos, including th* income and expenditure, of the charitable company for that year. In pipparing these financial statetn8nts, the trustees are 18quir8d lo select suitable accounkn'ng pc)licies and Ihen apply them consistently.. observ& th8 m8thods and princlplès In th• Charltlès SORP", maké iudgarnants and astimal8s that aro r&asonabl8 and prud•nl', . slate whether applicabl8 UK Accounting Slandards hav8 b88n follow8d. subject lo any rnal8rfal departur88 dlsclos8d and explain8d in the financial staiemants-, and preparo th8 Ilnanclal slat8m8nts on the going conc8rn basls unles8 St Is inapproprlal8 to pr88um8 Ihat the charity wlll conllnua in oper441ion. Th6 Iruslees arè responsiblt lor keèpSng sdèquale aeeounlirng records that disclos8 with reasonable atturaey al any limè the financial position of the Gharily and enable them to ensure that the financial slaternents comply with the Cornpanies Act 2006. They are also responsible for safe Juarding Ihe assets of the charity and hence for taking reasonable steps for the prevention and d8t8ction of fraud and other irregularlties WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT TO THE TRUSTEES OF WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED Oplnlon Wts h8V& 8udited the ¢onsolid8l$d financial $1alemenls of Weald and Downl¥nd Open Air Museum Limilsd Ilhe 'Group'l lor the year 8nd8d 31 Dec8rnb8r 2024 which compriBe the con80lidat8d stat8menl of financial activit188, th8 consolidat8d balan¢e sheet, the Charity balance sheet, the consolidated slalement of ¢ash flows and the notes lo the financial slalements, including significant accounting pdi¢ies. The financial reporting Iiamework that has been applied in their preparation is applicable law and United Kingdom Accountr'ng Standards, including FRS 102 The Finanaal Reporting Standard applicable in the UK and Republic 011￿18nd Iuniled Kingdom Generally Ac¢epled A¢counling Practice! In our opinion, the consolidated financial statements.. give a true and lair view ol the slate ol the charitable company's and group's affalrs as at 3108cernb8r 2024 and of Ils ineorning resourtes and application ol resources, lor the year Ihen ended., havé b&8n property prèpar8d In accordanc8 wlth Unit8d Klngdom Gen8rally Acc8ptèd Accountlng Practlce.. and have been prepared in acc(rdance wrth the requirements of the co￿paNieS Act 2006. Basi8 for opinion We conducted our audrt in accordan￿ wilh International Standards on Auditing IUKI IISAS IUKII and applicable law. Our r&8ponsibili1168 undor those Standards arts lurthar d8s¢rib$d in the Aiidilors 1&8ponsibilili&s forth& audil of the fin&n¢i&l stal&ments section ol our report. We are independent of the charity in accordanca with the ethical requirements that are relevant to our gudit of Ihe lin8nc481 Slgtempnls in the UK, including the FRC'S Ethic81 Slandaid. and we have f(Jllilled our other elhi¢al responsibilities in accordancg wilh these rgquiremenls. We bgli$ve that the audit eviden¢s wg hgve obtained 1$ sufficient arKI appropriate io provide a basi5 lor our opinion. Conclusions Telating to going roncern In audlllng th8 consolldal&d Ilnana81 $18t8mènls, wt hav& concluded that the Iruslttès, u80 ol the 9olng conc6m basls of accounting in the preparation of th8 financial slalem8nts is appropriate. Basèd on Ilw work n8va p8rforn￿. w4 h8vè not Idèntlflèd any m8lèrlal uncèrt8lntl8a rèlatlnu to èV8nls or eondltlong that, individually or collec￿'Vely. may cast significant doubl on the charity's ability lo continue as a going concern for a period of ai 108sI Iwelve months Ircm wh8n thè finan¢ial $tatementS 8ro 8ulherlsed lor Issua. Our responsibilities and the responsibililiÈs ol the trustees wilh respect lo going concern we de6crib&J in the relevant se¢lions DI this report. Othgr Infomiatlon Th8 other information comprls8s thè Infom)ation Includ8d in the annual rèport other than th8 financlal stal8m8nts and our auditor's report Ihereon. The trustees are responsible for the other information contained within the annual reporl. Our opinion on the financial slaternents does ml cov8r the oth8r information and. except lo the 6xlent otherwise ¥xplicitly 51aled in our report, wtr do not expreay any form ol asyiJrMn¢e conGILJsion th#r#on. Our re5ptsnsibillty is to rtrad the othtrr information and, in ning so. consider whether the other inforrnalion is materially inconslstenl wilh the financial statement5 or our knrjwledgp obtaingd in th• coursa of tha audil, or othèrwisa app$ars to bè materially misstat$d. If wè idèntify such material Incon515tencies or apparent malerial rni5Statements, we are required to deter￿ine Nvhether thi5 gives rise to a matertal misstatement in the fin8nGial stalemenls themselves. If, based on tre work we have perforrned, we conclude that there is mat¥rial misstatttm¥nt of this othèr information, w¥ are rèquirdd to raport thal fact. We have nothing to report in this regard. Oplnlons on other mattgrs proscrSbed by tho Companl8s Act 2006 Iii our opinion, based on the work underiaken in the course of oui audit.. th8 Inlomalon ￿Ven In the IrLJsl89s' roport lor the Ilnand81 ye8r for which the consoll(Jalod fin8ncl81 $181gm&nls 8rg prepared, which includes the directors, repori and the strategr report prepared for the purposes ol cotnpany law, is consi51ent with Ihe consolidated linanckil staternents.. and thè stratsgic rèport and thè diractors, report includad within thè trusloas, raport havg baèn praparad in acctsrdancè with applicable legal requiretnenls. WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED Matters on whlch we are requSred to report by excepllon In ihe light ol tha knowbdge and understanding ol tho charity and ils ènvironment obtained in the course of the 8udil. w6 hav8 not idenlffi8d mat8rial misstal8m8nts in the Strateg￿ report or the directors. r8POrt includ8d within th8 tru8t88s' report. We have nothing to report in respect of the Idlowing matters in relation lo which the Companies Act 2006 requires us to report to you rf, in our opinion.. adaquat& accounling rècords have not been kept.. or Ihe linanaal s18lemenls are not in agreement with the a¢counling records and returns., or ¢ert8in dlsclosures of trusiees. rtsmuneiallon specffied by law ara not made., or we have not received all the information and explan8lions we require lorour audit. R•$pon8lbllltl•g of tru$t••g As èxplainad mora lully in th8 stat8mènl of Irustaas, rèsponsibililias. thè trustèos, who arg also thè diiactors ol tho charity for the purpose of company law. ar8 r85ponsible for the preparation ol th8 flnancial 51at8m8nls and for being sallsfied that they give 8 true and fair view, and for such internal control es the trustee5 determine 15 nece558ry lo enable the prep8r8tion of financial slal8m8nls that ar8 fr88 from rnalerial mis5talem8nt, wh8thér du8 to Ifaud or error. In pr8paring th8 financial slatemènts, thè trustees ar8 r89pcmslbl8 for assassing th8 charlty's abllity to continue as a golng concèm, dlscloslng, as applicable, matters related lo going concern and using the going concern basis ol accounling unless the trustees either intend lo Ilquldat8 Ihe charitabla company or lo c&as• opérations, or hav8 no réalistic alt8rnaliv• bui lo do so. Auditor'5 responsibilities tor the audit of the financial statements Uur otsiectsves are to obtain reasDnat)le assurance aboul wh8ther the financial statements as a whole are free Irom rnaterial misstatement, whether due to fraud or error, and Io iSSLJe an auditorfs report that includes our opinion. Reasonable assuran-e 1$ a hlgh level ol assuraiic8 bul18 not 8 gliaranlee that an aLJdil conduclod In accordance wllh ISA8 IUKI wlll afvays dele¢l rnaterial misstatement when il exists. Misstaleinents can arise from Iraud or error and are considered rnalerial il. individually or in the aggregate, they could reasonably be expected lo influence the economic decisions ol users taken on the basis ol thos$ financial statements. Id•ntifi¢alion and a8s•$•mènt of irregularit1•8 in¢luiJing fraud Irregularltles, Includlng fraud, are in8lancas ol nOn￿mIlIanCe wllh18ws and réjgulallons. IN9 deglgn procedur98 in Ilno wlth our responsibililies, ouuingd above, lo delect material rnisslalem8nls in respecl ol irregularities, including fraud. The exl&nl lo vihlch our pro¢edures are Capable of dete¢iing Irregularldes. Includlng fraud. Is dei8lled below. In Identllying and assesslng risks of mat8rfal mlsst3tem8nl In resp8ct ol irr•gularilè8, Including fraud and non.compliance viith law5 and regulation5, our procedures included the following.. Obtaining an understanding ol the legal and regulatory tramework that the charity operates in. focusing on those laws and regulations that had a dire¢l effecl on the finanaal slalemenls and operations., Obtaining an understanding of the ¢harity'S policie$ and pro¢èdures on fraud risk$, Including knr)wledge of any 8CtU81, SU5pecled or alleged fraud.. Discussing among tho gngaggmenl team how and whsre fraud might occur in tho financial sialam8nts and any potèntial indicators ol fraud through our knowledge and understanding ol the cotnpany end our sgc-.or-specific expenence. A8 8 r88uII of the8& prctedurès, we considèred th& OPPOMuniti88 and incanlivtss that may exist within the association lor fraud. We are also required lo perfomi specific procedures to respond to the risk of rnanagement ovwride. As a result ol performing the above, we identified the following areas as those m(>sl likely to have an impact on the fjn8n¢ial statements.. health & salgly and 8mployrllenl18w. as well gs compliance with the UK Comp8nies and Ch8rilie8 Acts. WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS INDEPENDENT AUDITOR'S REPORT (CONTINUED) TO THE TRUSTEES OF WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED In add￿On to the above, our proc￿ur&s to r8spond io risks idenlthed induded the followiry.. Making enquiries of rn8nagernenl about any known or suspectsd instances ol non-compliancg with laws and regulations and fraud.. Reviewing mlnut8s ol me8tlngs ol the board and s8nior managémènt. Rgading correspondence with regulators ChallengirYJ a¥8umptions and judgemènts madè by management in Ihoir 8ignificanl accounting eslim8les'. and Auditing the risk of management override ol controls, including through testing joumal entries and other adjustments for approprialen8S5. Du6 to tha inheranl limitations of ￿ audi1, ther& is an unavoidable rigk that some matarial missl8lernenl8 in the financial statements rnay not be detected, even though the audit is property planned and p8rformed in accnrdanc8 with the ISAS IUKI. For instance, the further removed non-compliance is from the events and Iransgclions reflecled in the financial sialements, the less likely the auditor is lo become aware ol il or tD recognise thg non-compliance. A further des¢riplion ol our responsibilities Is available on the Financial Reporting Coun¢il's website al.. http5.'Im￿.frC.orG.Uk}audltOrsre8p0￿sIbIIil18s. This description forms part ol ow audil0rf8 report. U8• of our r•port This rppnrt is ma(Jp sol8ly to the charitable ccrnpany's n*mbers, as a body, in accordance with Chapter 3 of Part 16 01 the Companies Acl 2(X)6. Oiir audit work has been undertaken so th81 we might slate lo the charitable company's members those rnallers we are required IO Stale lo IheTr in an audilorfs report and lor no olher purpose. To the fullest exlenl permilled by law, we do not aocept or assurne responsibility to anyone Other than the charitable cornpany and the charitable company's mombers as a body, lor our audll work, lor Ihls report, or for Ihg oplnions we h8vg formed. Jordan Abbott BSC ACA Isenior Statutory Auditor) for and on behall of Sumer Aud 30 September 2025 Chart8rnd Account•nts Statutory Audltor Plpèr Hous8 4 Dukes Court Bognor Road Chichesier W951 Sussex P019 8FX Sumer Audit i¥ the tr•ding name of SumerAuditco Limited 10- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS CONSOLIDATED STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 DECEAIBER 2024 Unrestricted fur)d5 2Q24 Re5trictsd funds 2024 Totsl Unrestricted fund5 2023 Restricted funds 2023 Total 2024 2023 Income and endowments from.. Donalions and lega¢i$s Charilab18 ￿lIVI￿&S Other trading activ￿.eS Investments Other income 910,586 1,103,288 1,295,249 9,253 21,333 30,104 940,69D 1,103,288 1,295,249 9,253 21,333 978,107 1,057,623 1,323,060 14,329 22,132 95,704 1.073.811 1,057.823 1.323,(￿0 14.329 22.132 Total Ineom& 3,339,709 30.104 3,369,813 3,395,451 95,704 3,491,155 endilure on: Raisin9 funds 1.099,473 1,099,473 1,092,785 1.092,785 Charltablè ￿tIV￿l&S 2,4S9,228 237.113 2,696,341 2,S84,484 214,972 2,799,456 Total •xpendilur• 3,558,701 237,113 3,795,814 3,677,269 214,972 3,892,241 Not outgolng ro$our¢o$ b9for9 transfers 1218 9921 1207.0091 1426,0011 1281,8181 1119,2681 1401.0861 Gross Iran$fers between fvnds 15 1108.7451 108.745 13,0001 3,000 Net expendlture for the yearl Net mov•rn•n¢ In lundy 1327 7371 198,2641 1426,0011 1284,81ei 1116,2fj81 1401,0861 Fund balances at 1 January 2024 1,278,868 9,896,984 11,17S,852 1,S63,686 10,013,252 11,576,938 Fund balan¢•$ at 31 D•¢omb•r 2024 951,131 9,798,720 10,749,851 1,278.868 9,896,984 11.175,852 The $talemtnt of fjnan¢io1 a¢livili99 includgs 011 gains and10ssgs rg¢ognisgd in thg yoar. All in¢ome 0x￿ndItu￿ dorive from continuing activitie5. The slalemenl of financial a¢tivil18s 8180 complies wilh the rtsquirements lor an income and gxpendilure account under the Companies Act 2006. 11 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS BALANCE SHEET AS A T 31 DECEMBER 202d 2024 Consolidated 2024 2023 Charty Consolidated 2023 Charty Notes Flx&d assgls Tangible assets Heritage assets Investments In subsidlaries 17 18 29 6,e£3,043 3,918,303 6,571,268 3,918,303 6,797,329 3,919,352 ,698,197 3,919,352 10,S81,346 10,540.071 10,716,681 10,668.049 Current assets SIuLks Debtors Cash al bank and in hand 19 20 78,387 175,991 333,674 11.169 209,222 262,430 87,334 364.164 538,478 11,801 427,425 447,659 S88,052 482.e21 989,976 886,885 Crèdltors: amounts falllng du& wlthln ono year 21 1396.6031 1358,4441 1506,0221 1470,OD31 N91 currgnl 05891$ 191,449 124.377 483,954 416,882 T¢l&l 9$$ots l•$$ ¢urront11gb111119S 10.772,795 10,664,448 11.200.635 11.084.931 Provi$ion¥ for liabilititty Deferred tax liablllly 22 122,9441 124,7831 N•t ass•t• 10,749,851 10,664.448 11,175,852 11,084,931 Incorne funds Reslriclgd fundg 24 9,798,720 9,798,720 9,896,984 9,896,984 Unrestricted funds General iinrestri¢ted funds Non-charllablg IradSng fund 865,728 85,403 865,728 1,187,947 90.921 1,187,947 Unrestricted lunds 951.131 865,728 1,278,868 1.187.947 10,749,851 10,664,448 11,175,852 11,084,931 Th8 accounts w8re approved by th8 Trustees on 26 S8pletnb8r 2025 J C F Hatvoy Trustee Company Roglstratlon No. 00946307 12- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS STATEMENT OF CASH FLOWS FOR THE YEAR ENDED 31 DECEMBER 2024 2024 2023 NoteB Cash flows from operatlng actlvltl•s Cash (abso￿￿d byyg8n8raled from operation 30 172,2251 406,303 Inve8tlng aetSvltles Purchase ol tangible fiyed asset Proceeds on disposal ol tangible IiK8d assets 157,4761 1285,5081 150 1292.7261 14,329 Purchase ol h&ritag8 assets Inleresl reGeived 184,3561 9,253 N•t ¢a¥h used in investing activities 1132,5791 1563,7551 Net cash used Sn fSnanclng actlyllleB N•t d•¢r•a$• In cash and cash equlvalents 1204,8041 1157,4521 Cash and cash equivalènts at beginning of year 538,478 695,930 Cash and cash •qulval•nis at ènd of yèar 333.674 538,478 Relating to.. Bank balon¢es and short term dop)sits 333.874 538,478 333,674 538.478 13- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 Ac¢ountSng pollcle8 Ch8rity infowmation Woald and Downland Op8n Asr Museum LimSt•d is a privat8 company Ilmrt•d by guarant88 incorpDrat8d In England and Wal85. Tho 18gist8rad office is W8ald and Downland Opén ￿"r MusEum, Slnglèlon, Chichester, Wast Suss8x, P0180EU. 1.1 A¢¢ountlng convontlon The financial stalements have been prepared in accordance ivith the tharity'5 governing docurnent, the Companie5 Act 2006 3nd "Accounts'ng and Reporting by Charities.. Statement of Recornmended Practice applicable lo charities preparing their accounts in accordanc& with the Finanaal Reporting Slandard applicat)le in the UK and RepuLilic of Ireland IFRS 1021" las amended for accounting periods comrnènclng from 1 January 20191. Thf) charity is a Public B8n8fi1 Enllly as defin8d by FRS 102. The financial slalements are prepared in 51erfing. which is the functional currency ol the charity. Monetary amounts in Ih9sa financial stAlamants *a round&d to thè nearest £. The financial stalements have been prepared under the historical cost convents'on. The principal accounting policies adopted are stsl ¢ul below, 1.2 Going concem Al 31 December 2024, the Museum had no borrowings and cagh balances of £333,674. 11 has continued lo manage ils cash and costs carefully, and to reforeoast the likely out-lurn in results as circumstances change. As a result ol this. and the on-90ing support ol the Weald & Downland Open Alr Museum Endowment Trust, the Trustees ¢C>nsider th81 the Museum has sufficient resources lo continue as a going concern for the foreseeabl8 future. 1.3 Ch*ril•ble fund• Uiii¥slil¥l¥d lurids ai¥ 4vailabl¥ Ivi u¥¥ ¥1 Ili¥ di¥¥i¥liuii vl Ili¥ Irus1¥¥8 iii luilti¥r41i1¥ ul Ili¥lr L414ril4bl¥ utsl¥¥llv¥¥. Restrlclad lunds arè subl8el lo spe¢ffie ¢ondillon8 by d¢nor$ ¢r gr&niors as to how they may be used. Th• purptrses and uses ol tha restricted funds are sel out in th8 notes lo the linanual slalernenls. 1.4 Incorne Incomo 1$ recognised when the charity is legally entitled lo il after any performance conditions have b88n m81. the amounts can be measured reliably, and il is probable that income will be received. Cash donotlOn3 iJTe reGogni8ed on reGeipt. other donation3 are reGogni8?d onGe the Ghqrity ha3 been notified of the donation, unless perforrnance condilions require deferral ol tre amount. Income tax recoverable in relation to donations r¢¢gi¥ed undgr Gift Aid or d¢ed$ of cov9nant 1$ re¢ogni$gd al the lime of Ihg donation. Legacies are recognis¥d on receipt or otherwise rf the charity has been notified of an imponding dislribution, the amount is known. and racuipt ig 8X￿et>d. If the amount is not known, tha legatty IÉ trèatod as a eontingant ass&t. Gronl Income is re¢ognised when the charity is legally enlilled lo it after any perfomiance condibons have been mel, the amounts can b8 measured reliably, and il is probable Ihal in¢orne will b8 received. Courses and weddings income is treated as deferred when it relates lo a period or date alter the balance sheet date. Membership subscriptions are recognised when ￿Ceived. 14- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounting policies Icontinutdl In the case of 8 Gift 8id p8yment m8de within 8 ch8rit8ble group, in¢orne is 8¢crued v4hen the Grft old payment is payable lo the parent Charity under a legal obligaiion. The subsidiary's turnover is recognised al the fair value of the consideralion ￿ceiV￿1 or re￿Ivable for goods and services provided in the normal Course ol busintrs$. and is shown n&t of VAT. Revenue from the sale of goods is re¢ognised when the signifi¢anl risks and rew8rés ol ownership ol the goods have Passed lo Ihe buyèr (usually on disp81ch ol th& goDdsl. tha amount of revènue can b6 measured reliably. il is probable that the eoonomiG benefits associate(J ivilh the transaction will ffiow lo the entity and the costs incurred or lo be incurred in resp¢¢t of the Iranso¢1ion can be measured reliably. 1.5 Expendlture Resources expended are accounted lor on an accfuals b851S. Expenditure Is allocated between raising funds and oharitable aclivities. Token redemplion, gift aid exp8nditur8, lundraising expenditure and venue hire expenditure have been allocated to raising lunds. 82nk charges and lease finance oharges, administrats'on salaries and depreeialion ol lixlures, liltings and equipment are irKluded in support ¢osl> wilhin Charitable acli'iilies and accountancy and audit lees are included in governance costs within charitable aclivilies. Legacies and donations rec8ived that have bg8n Iranslerred to the Weald and Downland Q)en Air Mu5eurn Endawment Trust are inejuded in grant funding of aotivilies within chariloble 1.6 Intanglblo flxod assgts othar than goodwlll Intangible assets acquired separately from a business are recognised at cost and are subsequently rneasured al cost 1858 accumulatad amortisation and accumulat8d Smpalrm8nt Ios588. Amortisation Is r•cognis8d so as to wrbl8 off the Cost or valuation ol assets lèss th811 rèsldual values ov&r their us8ful lives on Ihe following bas&s'. proM￿lOnal Film and Website D8v8lopment Costg Straight lino ovar 3 y8ars Assets Sn th8 cours8 of construction are not amorti58d. 1.7 Tjnglblg flx•d as$•ts Tangible fixed assets ar8 initially measured al G051 and subsequenly measured at G051 or valu8lion, ntrl ol depreci3lion and any impairment1055es. Deprfrciation is recognised so as lo write off the cost or valuaiion ol assets less their residual values over their useful lives on the following bases.. Short leasehold properly Plant and machinery Fixtures. fittings & equipment Motor vehicles Trading company fixlurgs. filtings. plant & equipment Rernaining life of lease 33 10 Straight line 120tsA Reduclng balan¢e120% Stralghl Ilne 25 /0 Straight line 25% Reducing balancè 150k Reducing balanc Assets in the course of ¢onstru¢tion are not depreciated. The g9in or Ioss 9rising on the disposal of an ass￿ is determined as Ihe differen￿ between the sale Pr￿eedS and the carrying value ol tho assat. and is rts¢o9ni$tsd in the Stalement Of Finanaal Activities. 15- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounting policies Icontinutdl i.e Herittsg4 thsJ•ts Heril8ge assets are inilially measured at cost and subsequenuy measured at cost or valuation, net of depreciation and any impairment Iossgs. Depreciation is recognised so as to write off the cost or vglualion of assets less their residual values over their useful liv95. Hgritagg a$s8ts ar9 written off ovgr thg rèmaining lifE% of thg 1ga$e on 1hg19asghold propgrty. Assets in the ¢ourse of constru¢tion are not depreciated. 1.9 Impalrm•nt of fix•d 055•ts Al each reportlng end dale. the charity reviews the carrylng amoun1s of Its 18ngib18 and Intangibl8 assels io det8rmlne whether there is any indicatDn that those assets hav8 suffered an impaiimenl loss. If any such indication exists, th• recoverable am￿nt ol the Bsset is estimated in order to determine the eKtenl ol the impairment loss lif Bnyi. 1.10 Stock8 Stocks are slated at the lower of cost and estirnated selling price less costs to ¢ompletp and sell. Cosl comprises d1￿ct materials and, wh8r8 applicable, direct labour costs and Ihosg ovgrh8ad$ that have been incurred in bringing thè stocks lo their present localK)n and condilinn. Items held for dislribukn'on at no or nominal consideration are measured the lo'Ner ol replo¢ement ¢05t ond cost. Net rèalisable value Is the estimalad selling prlce ltsss all estirnated costs ol eompletlon and costs to be incurred in mark•ling. selling and distribullon. 1.11 Cash and cash ?quivalent5 Cash and cash equivalents Include ca6h in hand, deposits held al call wth bank5, olher short-lerm liquid investments with ori9inal maturities of three monthg or less, and bank ovèrdrafts. Bank overdr81ts 8re Jhown wthin knrrowings current liabil￿.85. 1.12 Flnanclal Inslrum•ntg The charity h88 &18ci8d lo apply the provisions ol Section 11 '8asic Financial In81rumenls' and Se¢lion 12'0ther Financial Instrurnants Issues, of FRS 102 to all of rts financial instruments. Financial instruments are recognised in the charily'g balance sheet when ihe charity be￿￿8$ party lo th8 conlr8clu81 provisions of the instrument. Financial assets and liabilities are offsel. with the net atnounls pr88enled in the financi818latern8nls. when Ihere 18 a legally enforceable right to sel off the recognised amount5 and there is an intention to settle on a net basis or to realise Ihg as8el and seiiie Ihg Ilabllly slmull8neously. Baslc flnanclal assets Basic fi'nancial assets, which inclu(Je debtors and cash and bank balances, are initially measured at transaction price Indudlng transaction costs 8nd a￿ subsequently carrled at amortlse(J cost uslng the emeciive Interest rnelhod unless the arrangemtrnl conslitules a financing transaction, where the Iransa¢tion is measured al the present valut of the fLJture receipts discounted ai a market rate of interest. Financiol assets classffied as receivable within one year are not amortised. 16- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 A¢¢ounting policies Icontinutdl Impairment of fittaneial &s$•tJ Financial assets, other than those held al lair value through income and expenditure. are assessed for indicetors of impairmtrnt at 0￿h reporting dale, Financial assets are impaired whero Ihore is obj0¢1ive evi relaiing lo museum enlrance fees re¢elv¢d under glft 01(1 Grant$ rg¢èivabl• for ¢or• actlvltlè$ Heritage Lolt•ry Fund Weald and Oownland Endowmenl Trust Wollson Foundalion Oih8r5 16,8fJ4 160,000 160,OOD 86,000 86,LX)O 884 160,000 16,854 176,854 884 86,000 86,884 Charltsble actlvltl•s Charflabl6harttabl• acllvlti•• 2024 2023 Mus8urn adrnlssbn fo88 Education Ischoolsl Courses Spettial events 733,028 60,436 275,838 33,986 738,620 60,873 215.030 43,300 1,103.288 1.057,823 Tot81 Museum adrnission lees are £1,033,63312023- £1.076,7061 of which £300.6Q512023- £338,08613re inGlud in donations and gifts. 19- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Income from other tradlng actlvltSes VnrÈgtricted Unr•9trictèd funds lunds 2024 2023 V¥iiutr l)ir Shop. cafe and cataring income Miscellaneous income 198.034 1,D96,615 217,021 1,105.S81 458 Other trading 8¢bvilies 1,295.249 1,323,C60 Incoma from Invgstmonts Unrostrl¢t•d Unr•strfct•d fund$ lund8 2024 2023 Interest receivable 9,253 14.329 Oth•1 Incom• Unr•$trl¢tod Unr8stricl8d fund$ funds 2024 2023 Nel gain on disposal of tangble fixed assets Rent received 132 22,th0 21,333 21,333 22,132 -20- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendltur6 on ralslng fund3 VnrÈgtricted Unr•9trictèd funds lunds 2024 2023 Costs of 9eneratlng donatlons and lagacles Fuiidiait*if)y exp¥iidilui Trodlng cost$ Operating tradin9 company underiaking non-charilable trading activity Other trading acbvities Venue hire Staff costs in trading ¢omp8ny Depreciation and Impairrnent In trading company Deferred Tax in trading cowpany 524,896 72.011 488,278 15,962 11,8391 507,229 100,051 447,250 12,629 24,783 1.099,308 1,091.942 Total costs 1,099,473 1,092.785 21 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 Expendltur6 on charStablo actlvltles Costs of ¢haritsblè a¢tlvltl*$ 2024 Cost8 af charitable a¢tlvltlo$ 2023 Dlr•¢t ¢o$ts Staff costs Deprecialion and impairment Premises costs Repairs. maintenance and $rte development Coll¢ction¥ mono9¢mcnt ¢ons¢rvotion Courses and edu¢alion Publi¢ity Special events Office and administalion Tidv¥I diiij VL)luiiltr¥rs Lggal 8n¢J professlonal Other ¢osl$ 1.010,809 255,835 224,620 126.237 8,653 198.151 85,963 53.631 57,980 28,346 56,458 223,093 835.898 259,277 187,315 208,%6 184,Z24 80, 74,118 61.591 17.755 72,755 227,176 2,328.676 2,216,231 Grant fijnding ol activitie5 l*e note 101 66,823 303,Q)O Share of support and governance costs (see ngte 111 Support Governance 290.642 10,200 269,779 10.446 2.696,341 2,799,45fj Analysls by fund Unre51ricled funds Restricted funds 2,459,228 237,113 2,584,484 214,972 2.696.341 2,799,456 10 Gronl$ payAbl• C08ts 01 charitable •¢llvltl*$ 2024 Costs of charitable g¢tlvlties 2023 Gran15 to Inslitulk)ns'. Grant to Endowment Trusl Leeds University 66.823 300,(J)O 3,Q)O 66,823 303.QYJO -22- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 10 Grants payabl• Icontinutdl Leg8¢ie$ whieh are left to the We814 & Downl8nd Open Air NAuseum, 8re, at the discretion of the trustees of ihe Museum. transferred by grant to the Endowrnent Trust lor investrnenl. Othei unrestncled donations tnay, at th& discretion of the Museum'5 tru51ees, be transferred to Ihe Endowment Trust and invested in a sepèrate fund for de8lgn&led development piojects. Thi5 developTnent fund. plus all inl&rest received, wlll be made avallable lo th& Museum on an unrestricted basis, and on reasonable request by the Iiust88s of the Museurn, lor the Nluseum's use IrJwArrl* k)rrJjpr.l AP.livity. 01 th8 £66.823 payabl8 to th8 Endo'Nm8nt Trust, £20,610 has been paid out ol th8 HLF Heritag8 Endowm8nts restrl¢tèd lund. The grant paid to Leeds Universily in 2023 was a r8search grant towards the Dialecl and Herilage Project. 11 Support Costs allocated to actlvllles 21124 2023 Slaff costs D•preciation Other costs Gov8rnance cosls 232.914 5.159 52,569 10,200 209,133 4,372 56,274 10,448 300.842 280,225 Analys•d b•￿e•n. Costs of chariloble activities 300.842 280,225 2024 2023 Gov•rn•n¢• co$t$ ¢omprl$•'. Audit lees Auditors, lees lor non audit work 6,950 3.250 7,146 10,200 10,446 Th& audit fee for 2024 is £7,500. The dSfferen¢e lo th8 figure shown above 58 dug lo an over a(trual In 2023. There Bre also payments to the auditors 01 £4,11512023- £3.6001 for a￿lit and accountancy fees for the subsidiary company whlch are InclLJdod In Trading ¢osls, 12 Tru$toè$ None of the trustees (Dr any persons connected wth them) received any rernuneration from the charity during the year. However, one ol the Iruslees was reimbursed travel and accommodation expenses of £1.148 during Ihe year12023 - none). -23- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 13 Employees The 8ver8ge mtsnthly number of employees during the yeer w8S'. 2024 Numb•r 2023 Numbgr Museurn buildings and operations Administration Museurn shtsp and calg 38 12 Total 58 52 Employment eosl• 2024 2023 Wages and salaries Social security costs Othèr p8nslon ¢08t8 1,582.346 123,129 26,526 1.374.239 98.500 19.542 1,732,001 1,492,281 Included above 8re temiinahon ¢ompenso1ion paynents of £20,20012023 - £01. The number of lull litne equwalenl staff is 4712023- 391. Thè number ol 8mployees ivhos8 annual remuneiallon was more than £60,000 is as follows.. 2024 Nurnb•r 2023 Numb•r £60,000- £70,000 £80,000- £90,000 Contribullon$ to¢811ing £1.101 12023.. £1.3211 werg made lo dellngd ¢onlrlbullon pgnslon s¢hgm9$ on behglf of employees whose e[nolum￿lS exceed £60,000. R•muneratlon ol k•y managom•nt porsonn•l The remuneration of key rnanagement personnel is as follows. 2024 2023 Aggiegalg ￿t￿penSatiOn 288.514 253,101 14 Taxation Thè charily is axampt from taxation on its activititss bgcause 811 its incornè is appliad lor charitablè purposts. -24- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 15 Transfers The transfer belv4een funds from unrestricted tts restricted funds of £108,745 1$ due to Mts￿ bein9 $pent tsn the Titchlield Market and Squara resurfacing project than restncled Income being receii'ed. For the comparallve year, lh8 Iran51ei between funds from unTe31rlcted lo reslrlcled funds of £3,000 was due to an unreslricled fund grdnl paid th8 year before incorrecdy allocaled against restricted lunds. 16 Intangible fixed assets Promotlonal Film and Webslle D¢Yelopment Co•t• Cost At 1 January 2024 and 31 December 2024 39.054 Amortlsatlon and Impalrment At 1 January 2024 and 31 D8C8mbar 2024 39,054 Carrying amount Al 31 Dfr¢fjmber 2024 Al 31 December 2023 -25- rncj> Jb>n ¢4) ¢) oj b) ¢J ITJ ts) Ln ID O L WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 17 Tangiblo fix•d ass•ts Icontinutdl A th8rge exists over the G8tew8y buildings (included in le8sehold property 8bove wth 8 net book v8lue of £5,400.1821 In lavour of the National Heritage Mernoiial Fund. The charge was established as a condition ol Ihe grant awarded by Ihe Heritage Lottery Fund to support eonstruellon ol the tmjildings In 2015. No amounts are owed by the MLJseum to th8 National Herbtage M8morSal Fund. 18 Horltago assets Al 1 January 2024 Pur¢has•s Depreciation 3.919,352 84.356 185,4051 At 31 D•¢•mber 2024 3,918,303 Heritage assets consist of Museum Exhibits. the Gridshell building and the collections of tools and artifacls from rural The Museurn Exhibits are a collection ol nearly 50 historic buildings daliig frorn the 13th ID th& 20th century. Re5cuAd frorn deslruetion. the buildings have heen ¢arefully dismantled. consetved and rebuilt to their origingl fomi and bring to life thtt homè8. farmstèads and rural industries of th8 la81500 yèa18, Many ol the inlarior8 havè bèan furnishod, recreating the way the buildings were iised by their owners cenliiries ago. They incliide hislorical collages, houses, shops, halls, barns, Sheds, stable, school, granary, workshops, tudor kilchen. treadlvheel, watemiill and a limber Crane. The Downland Gridsh811. completed in 2002. is one of a very small number ol aridshell structures in tha Unil8d Kingdom, and its design and method ol ¢onslru¢lion are unique. A very high degree of ¢8rpenlry skill weni into its fabrication. 131Tiulaling bul not imilatirig the traditional framed building3 at the Museum. 11 Is u88d for storing the Museurn's collectioiis ol tools and arteldcts frorn rural life and also provides a workshop where historic limber framed buildings can belaid out lor conservation and rpp8ir. Al 31 December 2024 Museum Exhibits were included at cost of £3,496,903. The Gridshell building was included at cost of £2,092,073 making a iotal ¢osl of £5,588.976. The Museum Exhibits depreciation lo 31 December 2024 is £992.794 and the Gridshell building depreci8tion is £677,879, making lolal depreciation of £1.670,673. This leads lo the net book value of £3.918,303 shown above. I he ￿lIttL￿OnS ol tools an￿ artelacts have E)een, In the mdlcflty. donated to the Mu¥eum. Whilst the LL)IleLlion ol oier 10.000 items is lully catalogued, no values have bèen allributed, as it would be uneconomic and impractiGal lo do so. During the past five years there have been additions ol heritage assels of £473,91312020 £5,100, 2021 £0, 2022 £91,731, 2023 - £292,726, 2024 - £84.3561. No assets have been disposed ol duriry the past five years. -27- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 19 Stocks 2024 Consolidated 2024 2023 Charily Consolidated 2023 Charity Harvest Animals Shop and cafe stock 669 10,500 67,218 669 10,500 1.161 10,640 75.533 1.161 10,640 78,387 11,169 87.334 11,801 20 Dobtor8 2024 Con5011dated 2024 2023 Charlly Consolldat8d 2D23 Charlty Amounts falllng dug wlthln ona yoar.. Trade debtors Amounts due from subsidiory undertakings Other debiof8 Prgpaymgnl8 and accrugd income 43,578 43,578 34,258 79,545 51,841 88,279 86.921 68,827 218.149 53,528 80,572 51,841 219.477 55.408 175,991 209,222 364.164 427.425 21 Cr•dltors'. amounts lalllng duo wlthln on• y•ar 2024 Consolidated 2024 2023 Charily Con80lidated 2Q23 Charity Other taxation and social security Trade creditors Other creditors A¢¢ruo1$ ond deferred in¢ome 54,255 107,967 20,548 213,833 54,255 80,028 20,548 203,613 41.878 163.260 28.520 272.364 41,278 136,918 28.S20 263,287 398,603 358,444 506.022 470,LK>3 22 Provlslon8 lor Ilabllltl•8 2024 2023 Deleried Tax liability re accelgraled capital allowances in the trading SLJbEidiary 22,944 24,783 -28- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 23 Retlr•ment beneflt schernes Dèfined contribution schemes Th8 company owrates a defined contributSon rotir•rn•nl b8n8fit schome for all qualifylng 8mploy••s. Th• ass&ts of th• scheme ar& held separately Iiotn Ihose ol the company. Th8 company conlributes a Specified PBic&nlage ol payroll costs to the retirement benefit scheme lo fund the benefits. The only obligation of the company with respect to tre scheme 58 to make the spedfied conlrlbuUon5. The charge lo profil and loss in respe¢t ol defined oonlribulion schemes was £26,52612023 - £19,542). Included In ¢redilors is £5.09812023. £4,390) relating to pension stherne liabilities. Rostrlct•d funds Th& roslrlclgd funcls of the ch8rlly cornprise tho ungxpended balanc08 01 donallons and grants held on trust sublgct ID specifi'c conditions by donors as lo how they rnay be used. At l January 2024 In¢omlng resources R•sourc•s expended Transf•r&4t Jl Dèe•mb•r 2024 Museurn Exhibits Longport ond Exionsion Léasèhold Propertiès Giidshg11 Rural Teaching Facility Gateway Project Stage 2 Bollom Road Improvemènts Building Crafts Gallery Workshop Ilggl8d8nl KTP ￿furbishMenI Other Heri18ge Lollery Fund Heri1898 Endowments Fund Design and inslalation ol dedicated 1 Gbp5 ¢onneclic New cupboard and c8rp8t floor tiles BCG 2.198.677 206.909 112,554 1,445,620 14,767 5,520,186 85.736 127.7S5 112,279 17,812 26.808 148.8371 14.4981 12,4461 131,4271 108.745 2,258.585 202,411 110.108 1,414,193 14.448 5,400.182 83,872 125,017 109,838 17.425 29,095 1120.0041 11,8641 12,7781 12.4411 13871 Ig631 13,250 110,0001 3,756 16,854 120,6101 24.OSS 15241 23.S61 10,000 9,987 9,896.984 30.104 1237,1131 108,T45 9.T98.720 -29- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 24 R•$tri¢t&d funds Icontinutdl Prtsvitsus ytsar.. At 1 Janutry 2023 In¢omiftg rg$ourcfj$ Resourees •xp&nd•d Tran¥for&4t JI Oo¢•mbèr 2023 Musourn Exhlblts Longport and Exl8nsion Leasehold Properties Gridshell Rural Teaching facility Goteway Prolocl Stogo 2 Botlom Road Improvements Building Crafts Gallery Wortcshop Ilogledenl KTP ￿furbishMenI Oiii¥i Heritage Lollery Fund Heritage Endawments Fund Design and inslejlalion of dedicated 1 Gbp$ conngclic 2.148.967 211,407 115,OQ3 1,477.047 1 5,088 5,640,100 87.600 13D.573 114,720 18,199 26.OS3 95.479 145.7691 14,4981 12,4491 131.4271 2.198.677 206.9)9 112,$54 1,445.620 14,767 5.520.186 85,736 127.795 112,279 17,812 28,808 1120,0041 11,8641 12,7781 12,4411 13871 12,5101 225 3.000 3,756 3,756 24,609 IS241 24,(￿5 10,013.252 95,704 1214,9721 3,000 9,896.984 All ol the maleria restricted funds listed above relat8 to resiricted income that has been received for the conslruclion or purchase of certain fixed 8$3ets 1888 the d&pre¢Aation charge) on those fi'xed a￿￿¢$ to date, 25 Analys19 of net a•sets between funds Unro$trl¢tgd fundg 2024 R&strSct•d lunds 2024 Totsl Unrestricted funds 2023 Reslricled funds 2023 Total 2024 2023 Fund balances al 31 December 2024 are represented by.. Tangiblg &558ts H*rltage ass8t$ Currenl assetsl{Iiabilitiesl Provisions 573.892 245.222 154.961 122,9441 8,089,151 3,673,081 38,488 6,663,043 3.918,303 191,449 122.9441 575,202 229,642 498,807 124,7831 6,222, 127 3,689,710 114,8531 6,797,329 3,919,352 483,954 124,7831 951,131 9,798,720 10,749,851 1,278,8e8 9,896,984 11,175,852 -?o- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 26 Cap5ts1 commltments Amounts eontr8¢ted for but not provided in the fin8nci81 st8tement$'. 2024 2023 Acqtsisition of propety, planl and equiwent 3Jf,680 102,405 In addition to the above capital commitment there is also a repair expenditure commitment of £O12023- £5,4781 al the balancg sh991 dalg. 27 Op•ratlng lèa8• eomrnltm•nt$ Al the reporting end dale the Gharily had ou151anding cijnmilmenls for future minimum lease payments under non-cancellable operating leases of £95.467 12023 £115,2101. (See below analysis). This excludes the property l&as¢$ that havo èxpir¢d and formal ¢ornmitmgnl has not yel bgon $na¢l¥d. The tDlo1 payrnents made in the yeBr relBting lo operating leases, including prjperty leases, is £28,855 12023 £27,855). 2024 2023 Within one ytar BgtW99n two and five year8 In over fiv8 years 28.800 66.667 28.855 79,688 6.667 9S.467 115,210 21 WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 28 Relatsd party transactSons Transactions with related p&rtie8 During the year the charity enlered into the followlng tranSaCt￿nS wlth related parti8S.' Weald and Oownland Open Air Museum Limited tharged Singleton Museum Services Limited a managernent charge 01 £18,00012023- £17,120) and rent of £10.00012023 £9,5361. There was also gill aid receivable from them ol £ 47.051 12023 - £54.1931. Purchases were made from Singleton Museurn Services Limited of £3,85212023 - £8,173). At Ihe balance sheet date, the amount owed by sIng￿tOn Museum Services Limited was £34.25812023 - £69,827). This comp8ny Is a 100¥o subsidiary of Weald and Downland Optsn Abr Musaum LSmSlad. During the year there was e grant re¢ewed from the Weald and Downland Open Air Museum Endowmenl Trust Df £160.00012023- £01 and Iharè wèrè gianls pald tts thè Endowmènt Trust of £66.82312023- £300.0001. 29 Subsldlarles Thes¢ Ilnon¢lal stsl?menls are ¢onsollOoie¢ flnanclal $18iemenrs lor Weol¢J onfj Downland open Alr Museum Llmrte¢ Group. Del8iL8 of the ¢harity'$ subsidiarles at 31 Deeembèr 2024 are 8$ foll¢ws'. Nam¢ of und•rt•klng R•gl$ioro offi¢• Naiur• of tyu8ln•ss Cl8$$ of $har•$ h¢ld % Hold Direct Indiro¢t Slng191on Mu89um Servl¢&s Limilgd - Company no. 01437695 England Mu99um shop gnd ¢01 Ordlnary 100.00 Thg 8ggragale c8pilal and reserves and the rgsull for Ihe yoar of sub8idiarie8 was 99 follows.. Nomo of undertaklng ProllVILo$$l Capltsl and Reserves Singleton Museum Servic95 Limited Company no. 01437895 41.533 136,003 Al 31 December 2024, Singltrlon Museum Satvices Limiled's assets lolal £231.2£4. ils liabilities £72.417, provisions £22.944 and its total funds £135,903. For the year, its total Income is £1,096.830, expenditure £1,057, 136 and pmlit before lax £39,694. This company is Included in these cons(Ai4ated 8¢¢ounls ai ¢osl and the share capital held by the parent of £50,$00 is includ8d in Invgalmgnts lor th8 individual charity. It has Ihg sarne r8gister8d officg as the parent. -??- WEALD AND DOWNLAND OPEN AIR MUSEUM LIMITED CONSOLIDATED FINANCIAL STATEMENTS NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 30 Cash genorated from operatlons 2024 2023 Delicil for the year 1426.0011 1401,0861 Adjustments for.. Inveslment in￿rne recognised in statenent of ffi'nancial activities Lossllgainl on diswsal of t8ngible fixed assrfs Amortisalion and impainn&nl ol inlangibltr assets Depreciation and impairment ol tangible fixed ass•ts 19,2531 212 114,Y291 11321 13.018 263,260 276,955 Movements In wtsrkn.ng capital.. Decre8selllncreasel In siocks Dècrease in d&blors (Decreasellincrease in creditors IDecrga5elllnGreaye In provi510ll5 8,947 188.173 1109,4191 11,8391 19,8691 435,278 95.380 24,783 Cagh labgorbed byllgenerit•d Irom opewationl 172.2251 406,303 31 Analygls of chang88 In not funds Th8 charity had no mat8ri81 debt during the year. -23- This document was delivered using electronic communications and authenticated in accordance with the registrar's rules relating to electronic fonn, authentication and manner of delivery under section 1072 of the Companies Act 2006.