Charity Incorporated Organtsation (CIO)
Registration Number: 313056
THE LEATHERCRAFT TRUST
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31•t DECEMBER 2024

THE LEATHERCAFT TRUST
(A Charity Incorporated Organi8ation CIO)
Report of the Trustses for the year ended 31°, DECEMBER 2024
INDEX
Page Number
Managemont Infomiatlon
Truste8's Annual Report
Tru8teo'8 Responslbllltles
Indgpondent Exarniner's Report
Statsmont of Flnancial Actlvltle8
Balance Sheet
Principal Accounting Pollci88
Note8 to tho Financlal Statements
11- 13

THE LEATHERCRAFT TRUST
(A Charity Incorporated Organisation CIO)
Page 1
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31•t DECEMBER 2024
Charity CIO number:
313056
Trustee8lDirectors:
Mr William Amberg
David Barrow -chair
Rosie Bolton (appointed 30.05.25)
Alison Brand- Baker (resigned 10.12.24)
Caroline Darke
Paul Farmer (resigned 01,08.25)
Rachel GaNood (resigned 10.12.24)
Dr Graham Lampard
Christopher Marrum
Michael Pearson
Martin Pebody
Gillian Proctor (appointed 01 .01.25)
Robert Tusting
Elizabeth Wheelband (appointed 01.01.25)
Regl8teTed office:
The National Leather Collection
Grosvenor Chambers
Union Street, Northampton
NN11EW
Bankers:
HSBC
Hitichin
Independent Examlner8:
Brenda Peers-Ross
29 Drift Road. Selsey.
'Chichester, West Sussex.
P020 OPW

THE LEATHERCRAFT TRUST
Page 2
(A Charity Incorporated Organisation CIO)
TRUSTEE'S ANNUAL REPORT
FOR THE YEAR ENDED 31•t DECEMBER 2024
The trustees are pleased to present their report and the unaudited accounts of the charity for
the year ended 31" December 2024.
Governing Document
The Charity is constituted as a charity incarporated organisation and governed by its
Constitution. The CIO registered under the Charities Act 2011 and as such is not liable to
income tax, corporation tax, and capital gains tax.
Objects of tho Charlty
To collect and make publicty acce88ible articles made wholly, or partly, ofleather (including
fur).
To be a repository of items and information relating to the world history of leather
manufacturing and associated industries.
To engage wilh, encourage and exhibit present day and emerging craftsmen, using leather
in design, life, sport, industry, fashion, and art.
Appolntmont of Trustoos
Trustees are recruited by invitation and appointed at the AGM.
An induction by the Chairperson is given to all newly appoinled trustees.
Publlc Beneflts Statement
The Trustees have taken due regard to the Charity Commission's guidance on public
benefit.
It is a free at point of use resour￿ for the study. engagement, and involvement in the
development, uses and workrnanship of leather for the general public benefit.
Risk review
The Board of Trustees continues to review the risks to which the charity is exposed, and
systems are in place to mitigate these risks.
Reserve8
The current reserve policy is to maintain sufficient cash flow for known commitments,
and the replacement of certain assets. Not all grants are received at the beginning of
the financial year others are received in arrears.

THE LEATHERCRAFT TRUST
Page 3
(A Charity Incorporated Organisation CIO)
TRUSTEE'S ANNUAL REPORT
FOR THE YEAR ENDED 318t DECEMBER 2024
Achlèvèments, and P8rfomianc•
The Leathercraft Collectlon
2024 has seen the Leathercraft Collection transferred to Northampton Museum and
Art Gallery (NMAG) owned by West Northamptonshire Council (WNC) under the teims
of the Memorandum of understanding. The transfer of the artifacts to strict museum
standards started in October 2023 and was completed in April 2024. The Leathercraft
Collection will remain an independent collection within NMAG. The collection is
currenlly safely stored in NMAG but is currently not open to view. It is hoped that
working with NMAG over the course of 2025126 the Leathercraft Trust can help to open
the collection to Ilmited viewing to those parties that show an interest in leathercraft. It
remains an outstanding collection.
The 2ll(f floor of the Grosvenor Chambers was successfully vacated in August 2024
without any significant charges.
The UK Leather Federation Archives have now been successfully catalogued and will
be transferred to the Warwick University Modern Records Centre. Some ledgers will
need conser4ation work before they can be transferred. This will requi￿ a fund-raising
exercise during 2025126.
The Fur Collection is now the only remaining collection within the Leathercraft Trust,
and it is hoped to find a home for this collection in the near future although by its very
nature this is a difficult task. In the meantime, the collection has been logged and
photographed and is in safe storage in Herefordshire.

THE MUSEUM OF LEATHERCRAFT
Page 4
(A Charity Incorporated Organi8ation CIO)
TRUSTEES ANNUAL REPORT
FOR THE YEAR ENDED 31•t DECEMBER 2024
The Future of the Museum of leathercraft
On the 251h of January 2024, The Museum of Leathercraft was changed to The
Loathercraft Trust (LT).
On 19th November 2024 Charlty Commission confirmed that the application to convert
The Leatherciaft Trust to a Charitable Incorporated Organisation (CIO) had been
successful.
The trustees now feel there are bNo main aims of the trust.
To work with and maintsin a close relationship with Northampton Museum
and Art Gallery (NMAG) and the Leather¢raft Collection they now own.
To further the education in leathercraft by utilising opportunities to link the
Leathercraft Collection to other opportunities.
A third temporary aim of the LT is to find a suitable home for the Fur Collection
Our Supporters
Finally, a big thank you to our supporters who over the last year have helped us to
progress with their valuable advice and donab'on. These include The Skinners,
Company, The Saddlers, Company, The Leathersellers, Company, Leather UK.
Association of Independent Museums, West Northamptonshire Council, and a number
of private donors,

THE LEATHERCRAFf TRUST
Page 5
(A Charity Incorporated Organisation Clo>
TRUSTEE'S RESPONSIBILITIES
FOR THE YEAR ENDED 318t DECEMBER 2024
Charity law requires the members of the Executive Committee to prepare financial statements
for each financial year. which give a true and fair view of the state of affairs of the charity and
of the income and expenditure of the company for that period. In preparing those financial
statements, the members of the Executive Committee are required to..
select suitable accounting policies and then apply thern consistently.
make adjustmenls and estimates that are reasonable and prudent..
prepare the financial statements on the going concern basis unless it is inappropriate to
presume that the company will continue its activities.
The members of the Executive Committee are responsible for maintaining proper accounting
records, which disclose with reasonable acGLJracy at any time the financial position of the
charity and to enable them to ensure that the financial statements comply with the Charities
Act 2011. They have a general responsibility for taking such steps as are reasonably open to
them to safeguard the assets of the charity and to prevent and detect fraud and other
irregularities.
Presenled and approved by the board of trustees on 15, September 2025 and signed on
their behalf.
David Barrow
Director
Chris Marrum
Director

Brenda Peers4loss
29 Drift Road
Selsey
Chichostor
West Sussex
P020 OPW
Independent Examln•r's Report to the Trusts•8 of:
THE LEATHERCRAFT TRUST
Registered Charltable Incorporatsd Organisatlon {CIO) Number 313056
I r8POrt on the accounts of the CIO for the year ended 3181 Dec£mber 2024. which are set
out on the attached Statement of Financial Activitw and Balance Sheet on pages 7 to13.
Respective Tesponsibilitlès of tru8te•8 and examlner
The trustees are responsible for the preparation of the accounts. The trustees consider that
an audit is rlot required for this year under section 144 of the Charities Act 2011 (the Act) and
that an independent examination is needed.
Page 6
Having satisfied myself that the charity is not subject to an audit und8r charity law and is
eligible for independent examination, it is my responsibilty to:
examine the accounts under section 145{1) of the Act:
follow the procedure8 laid down In the general Directions given by the Charity
Commission {under section 145(5){b) of the Act, as amended,, and
state whether particular matters have come to my attention.
Basis of Indopendent examinerf8 8tatem•nt
My examination was carried out in accordance WFth general Directions given by the Charity
Commission. An examination includes a review of the accounting records kept by the charity
and a comparison of the accounts presented with those records. It also includes consideration
of any unusual items or disclosures of the accounts and seeking explanations from you as
trustees concerning any such matters. The procedures undertaken do not provide all the
evidence that would be required in an audit, and consequently no opinion is given as to
whether the accounts present a true and fair vievK and the report is limiled to those matters
set OLrt in the statement below.
Independent Examlner's Statement
In connection with my examination, no matter has come to my attention:
which gives me reasonab5e cause to believe that in any material respect, the
requirements:
to keep accountin9 records in accordance with the Charities Act 2011., and
to prepare accounts which accord with the accounting records, comply with
Ihe accounting requirements of the Charities Act 2011 and with the methods
and prinCip￿S of the Statement of Recommended practif￿.. Accounting and
Reporting by Charities.
have not been mel,. or
to which, in rny opinion, attention should be drawn in order to enable a proper
understanding of the accounts to be reached.
Brenda Peers-Ross FMA4T. ACIE
th
28 September 2025

THE LEATHERCRAFT TRUST
(Registered CIO Number 313056)
Page 7
STATEMENT OF FINANCIAL ACTIVITIES
FOR THE YEAR ENDED 31st DECEMBER 2024
cio
Total
2024
Charlty
Total
2023
Notes
Unrostrlcted
Rostrictgd
Ineoma and endowm8nts frL)m:
Donations and legacies
Charitable Activities
Investments
Other
Total Income and endowments
316
24,522
316
24,922
2.828
97,51S
400
400
25.240
100,343
Expondlture on:
Raiw'ng Funds
Charitable Activitiès
Other
Total Expondltur•
24.751
19,521
44,272
87,044
19.621
44,272
87,1)44
Net Incomel(expendlture
89
<19.1211
(19,032)
13,299
Transfer bo￿￿ funds
N•t mov?m•nt In funds
3,168
3,168
(3.0791 (16.9531
(19,032)
13,299
Total funds brought foNArd
16,317
15,953
32,270
18,971
Total funds carrled foNiard
13,238
13,238
32,270
All of the activities of the charitable company are Glassed as wntinuing.
There arp no rocognised gains or losses other than thoye included in the Statement of Financial
Activities shown above.

THE LEATHERCRAFf TRUST
(Registered CIO Number 313056)
Page 8
BALANCE SHEET AS AT 31st DECEMBER 2024
Charfty CIO Number:
cio
Totsl
2024
313056
Charlty
Total
2023
Unf•81iirt•d
Restrlct8d
Flxed A•8ets
821
621
828
Curr¥nt A¥8•ts
Debtors
Cash at bank arKI in hand
51
13.116
13.167
51
13,118
13,167
2,031
31.039
33,070
Creditorn
Amounts f811ing due
within one year
(550)
(550)
(550)"
(sso)
(1,828)
{1,828)
Net Currnnt Assets
12,617
12.617
31,442
NET ASSETS
13,238
13,238
32,270
FUNDS
Unregtrl¢ted
Reslrfcted
Totsl
2023
Unr8Strict8d fund$
Rèstrlcted
13,238
13,238
18,317
15,953
32,
70
13,238
13,2
For tha yéar 8ndlng 31st December 2024, of The Loathgrcraft Tru6t.
Trustees are required to preparè accounts for each financial year which give a tsu8 and fair vivw ol the s181e of affalrs
of the trusl and of ts activiti88.
In pr8parlNJ th8 accounts lhe TTUSt895 orè r8ouired to..
- select suilable accounting policiès and appty them con8islenlly.
- make judgoments and estimates that are reasonthe and pTudenL
- Pf8pare accounts on a going elJnc•m basls unleBS il is inappropr￿.
- Keep proper ac¢ounling record.
- responsible for saf8guardln9 the assets of the Trust.
Approved by the trustees al a ￿mmIttee meeting held on 15th September 2025
and signed on their beh8lt by..
Director
Chris ma￿urn
Director

THE LEATHERCRAFT TRUST
(Register8d CIO Number 313056)
Page 9
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31st DECEMBER 2024
Accountlng Pollcles
The financial stat@ments of the Charitable Company, which is a PLtblic benefit entity under FRS 102, hwrfe
been prepared under the historical cost convention and in accordance with the Companies Act 2006 and
the Statement of Recommended Practi￿ SORP IFRS 102) issued on 1st OGtober 2019, applicable UK
Accounknng Stsndafds and the Charities Act 2011.
Format
The ¢harity has taken advantage of the provisions of the charit￿$ Act 2D11 and presented an income
and èxpènditure account in the form of a Statement of Financial Activities on the grounds that It enables
the financial statements lo show a truo and fair view of the result for the year.
Fund accounting
General fund8 are unrestricted fvnds which are available for use at the discretion of the trustees in
furtherance of the general objective5 of the charity which have not been dèsignatèd for clher purs)os•s.
Designated fvnds comprlse unrestrlcted funds that have been set aside by the trustees fcr particular
purposes. The aim ar)d use of each de$ignaled funds is set out in the notes to thè financial
statements. Restricted funds are funds which are to be u88d in accordance with Bpecific restrictions
Imposed by the donor5 or which have been raised by the charity for particular purp08es,
Incomlng resources
All in¢oming r8sourc8s 8r8 included in the SOFA when the charity is tegally entitled lo Ihg incom¢ and the
amount can be qijantified with reasonable accuracy. Grants aro brought into account on a receivablè basis.
Deferred income reprèsgnts amounts raceived for fuiure periods and is released tc incoming resources
in the period for which it has been received.
R￿OurC&S expended
All expendituro is accounted for on an accruals basis and has been Glassified under headings that
aggregate all costs related to the catsgory. Expenditure 15 8ts1ed inclusive of value added tax.
- Cost ol Generating Funds are those costs incurred in attractin9 voluntary income.
- Charitable Activities include expenditure associated with direct services and membership support.
- Govemance Costs include those incurred in the govemance of the Charity and its assets.
Tonglble fixed assets and depreclation
DepreclatSon is calculated to write down the cost of all tangible fixed agsots by instalmonts over t
expeded useful lives. The period generalty applicabje are..
Equipment
Fixtures and r￿Ing8
Comput8r Equipment
25% reducing b81ance
25% reducing balance
25% reducing balance
Intanplble Income
Intangible income, in the fomi ol donated facilities and voluntary help etc., is not included in the
financial statements sincè it is not considered practicable to quarrtify Such income.

THE LEATHERCRAFT TRUST
(Registered CIO Number 31305e>
Pag•lO
PRINCIPAL ACCOUNTING POLICIES
FOR THE YEAR ENDED 31st DECEMBER 2024
Reserve5
The currenl reserve policy 1$ to maintain sufficient cash flow for known commitments, and the replacement
of certain assets. Not all grants are received at the beginning of the financial year others are received in
awfs.
Risk
The trustees do not believe the organisation 15 subject to any 5ubstsntial ri¥k beyond those
disdosed in the Annual Report and Axounls.
P•n8lon cogts:
Th8 Charity operates a pension scheme in lina with current legislation.

THE LEATHERCRAFf TRUST
{Registered CIO Number 312056)
Page11
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING 31st DECEMBER 2024
Unrg8triGted
Restrictod
2024
2023
Donation$ anql Legacl
Other Donations
316
316
316
316
2,828
2,828
Income from Charltable Actlvltle8
Grants
Worshipful Company of Saddlers
Worshipful Company of Leathersellerf$
Museums al Risk
Skinners Malmesbur
ssociation of Independent Museum8
Gilander Foundation
West Northants Council
Othef Grants
SeNice charg8 reimbursed
8,568
50,000
15,000
3,000
2,000
300
5,OiXI
1,500
12.149
97,515
20,000
20,000
400
4,522
4,522
24,522
400
24,922
Expenditure on Charltabl• Acllvltl••
Employment costs
External support
Staff expenses, travel I
IT including Website
Postage, stationery, freight
Tel￿hOne
Publicity, markeling
Insurance
other costs
Volunteer ExF)enses
Con3eTvation
Professional Foes
Dèpreciation
utilities
Administration Co8t8
Property repairs and maintenance
Premises improvement costs
Ser¥rice Costs including rent
Equipment R&M
Govemance
AccourrtanGylpayroll fees
Independent Examinatson
4,515
400
2,100
4,915
2,100
28,987
3,300
803
273
1,035
803
273
1,035
994
444
1,608
283
680
1,518
1.e43
48
181
1,643
48
181
8,000
690
277
3,028
5,854
5,075
290
207
231
17,021
17,311
207
231
12,925
12,925
1,381
1,381
22,245
270
600
535
1,080
985
87,044
535

THE LEATHERCRAFT TRUST
(Registered CIO Number 313056)
Page 12
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING 31st DECEMBER 2024
Unre¥lrictod
ROStri¢tsd
2024
2023
Trustees and Employment
Wages and salaries
NIER
Pension Gosls
Travel
4.488
400
4.888
28,532
27
27
435
41)0
4,915
28,967
There are no employee being paid in excess of £60,000 per annum.
The average number of lull ts'me employee5 during the year was". 1. (2023:1}
During the year the trustees received £nil in remuneration. (2023 £nil>
The total expendrture relmbursed to trustees amounted to £nll. (2023.. £nill
Flxed As80ts:
Plant &
Machin•ry
Fixtures
Computer
& Flttlngs Equlpm•nt
Total
Co•t
Broughl forward
Addiiions
Disposals
Carried forward
1.652
20,255
1,028
22,935
1,652
20,255
1,028
22,935
Depreciation
Brought forward
Charge for year
Disposals
Carried lorward
1,647
19.482
193
977
13
22,106
207
1,648
1S,675
22.313
Net Book Value
Balance at 31.12.24
580
37
621
Balance at 31.12.23
773
50
828
2024
2023
Debtors
Tiade Debtors
HMRC
Prepayments
51
51
2,031
2,031
Credltors-Amounts falling due within one year
Sundryrrrade creditor
¢Nals
Tax & Sottial securty cost6
(689)
(939)
(5501
550
1,628

THE LEATHERCRAFT TRUST
(Regi$t8red CIO Number 313056)
Pago 13
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDING 31st DECEMBER 2024
Transfer
Movement between
funds
Balance
01.01.24
Movoment
In
Balanco
31.12.24
Unrestricted and
D881gnated Reserves
Unre8trithd - general reser¥e
De4ignatsd
Donation Lampard
Rad¢lfffe Trust
13,208
24.840
(24.751)
(3,1681
10,129
1.827
1,282
16.317
1,827
1,282
13,238
24,840
Donation Lampard donation towards the Cost of repacking the Museum'8 glove collection.
Radcliffe Trust- contritsulion tewards the conseNalion of the Kite collection.
Re6trl¢t•d Fund$
Balance
01.01.24
Movement
Movomont betwe•n
Out
fund8
Balanc•
31.12.24
Museums al Rlsk
Gildor8 Foundation
Skinno
13,853
{17,021)
1400)
2.100
19,621
3,188
400
2,1DO
15,953
400
Museums at Risk Hcontributicn toward5 a88oGiated c05t8 wth Museum transfer.
Gilders Foundation - funds towards wag¢¥ and gxpense.
Skinners Grant- funds for the preservation of fur colle¢tion.
10
R8latod Party Trangactlons
There are no related party transactions in the current year or in 2023.
Ultimate Contmlllng Party
The CIO is under the ultimale Gonlrol Of its tru$to8s, who name$ are Shown at the front of the financial
ststements.