REPORT OFThE TrusfÉES AND
UNAUI)ITED FIIIAIKIAL STATEMENTS FCAiTHE YEAR ENDED JIDE(EMBEA2020
GORDON RUSSELL TrUST
Milcwl
C822SLD

GORDON RUSSELtTRUST
CONTENTS OF THE FINANCIAL STATEMEPIIS
FOR ThE YEAR ENDED 31 DECEMBER ZO20
Rep0rtoftheTn￿ttes
Ind2pendent Ex•mknrfs Rewi
8al8rKeSl*rt
Note5 to the FIn•￿kn1 stsieiiwrts
7-11

GORDON RUSSELL TRUST
REPORT OF THETRU5TEES
FOR THEYEAR ENDED 31 OECIMBER 2010
ThetW5tees wesenttheir rewrtwiththetkn1stataix￿o￿thèdWi￿fortkneYeQrertded 31 te*￿berI019.
REFERENCE AND ADMINlmTI¥E DEfANS
Rewstsred (tharityNLThber
326446
incyladdres5
IS AL￿￿5q￿e
H￿SIreet
WR127AP
Trustees
Jonathao Rwel lthèlrmathl
Ahtlw GleavelTie•surerl
ekn Br￿M
GaLY*llp F¥lkk)er
Sean Feentrrf (Edwtwl
Chrittopher peier HottenlM•*tsl
Patrohs
Jame5 Rthl•t
The Rt Non PhlOpSrnlth
FounderTrustees¥pwhrted O¢tober 1983
Mrs K Ba￿5
MrT(hinn
KtrRHie4h
ExJmlnlty*uountsnts
N*l•Jlès aiffe & Co Urnited
Mill Holbse
PAIICourt
CB12 SLO
The Gortknn Rvssell Trust ￿se$labllshed urthr a Trustdeed dated 17thOctober 19S3 afvj gjpplemented Trust Deed dated
luly 1984. TheTrust IS￿ edwtioml charity a ttjlalty The Trust operate5 kn •ttordance wbth
the OeclaTrtkn ofTiu5t*knpt•J kn 1983. The Chwtty b mam8ed ty i 1x•*Ofin￿tee& to thom the Exeorthe Committee

GORDON RUSSELL TRUST
REPORT OF THE TRUSTEES 1¢onthw￿I
FOR THEYEAR ENDED 31 OECEM8ER Z020
ACMIEVEMENISAND PEAFORMAIKE
2020 has W one ofthe most c*aWging and tLmulbJttus yearn lor al of u5 in¢fvpJualty aThJ for us 8 wfiall
dependprtt Musetjrn duo to the cow￿19 pandemt that strrt￿ 8m8rye in Marth 2020. M￿•￿ar
govemThnt mandat85 rneantfor¢*J closures 8nd Èhut WT on 17th Mar(* 2020.
Ca6e& ol C0VIC￿1g b￿n to eypY*rts1￿. Daty govemmenl briefiNJs. fort4d Ic&d￿n5. both nats.onal and
Intsmalional tra￿1 rwdlrKUorts and even lor a period bging th168d f￿1 kn knave ytsyr hom& werF put In place.
Tne pr•v¢us ye8rl201g17￿ty of wr re￿nue ¢wn8 footfall. was Splrt rowhty 50150 atsm*sion5
shop s￿nd. Ck)6ur• woukl put 8n yn8USt4iTrat40 strain on ￿Jr financjal pts￿on. A Ihe tim8 in 19te March, wo
were hawng to re¥￿ emeryeney measures tr) secJJr8 tho Museum's [thu￿. Fortunaiety, ￿ the 9¢)vornmtrnt
ra8pond*J quKkly with fiwl par*8g&s aTrJ lurfough schemej. ao 4bJ prN•ts arkl h•rrtage *ctorwith
9￿ftts.
Our Trust•e6. Slaff. Vo￿n￿oiS. Fneftds 4r¥J SuFPOrter5 all res￿10d mythcenty, 8TrJ I wouki Ilko to femw
Ih8nk •gch and ewjry one olyou for ywr $wort and C(￿l￿.￿jtr"0n It thw mo&tdifficul tkne.
Imth a fLdl y•¥r'J schedulo tB*• orwj **fB a5 onlim tal(8- whkh h
ub8•queniiy prowd popuior. Tho Z¢tsm ta*8 irt Nowt•r 203) wrth frjmiture d•S￿ner Luke HLtyJhes,
have contnued IhroLNl¥yJt 2021, lh￿ has noi onty deh¥¢r•Y tssc4Mikng 8rn1 inte￿$b"r0 contsnt pivoted on
20th ceft￿ry èrts and crafts but has ￿￿r*Jed ts aud*n(x nalwawy wd thtrjnaty)￿lfy ￿m9 taM¢$ hgvlnq
jlJ8t ¥hy of ￿￿.¢￿ants.
l •wnmarf•o ￿n0 of hlghl*3hts1gnd h Wts} throL¥￿t fvy•ar # frJkn*.'
17th March 2020. FoknNJ ts*Mnwnent mandat•. Wg tjcwj tyJrdoorn.
M4r¢tQApdl. Tru•t••$ di￿￿* •m•rgeney moa8ws# to the fjjlure olthe m￿eum aTrJ Jiartlo
m•otvthkty en Zoom c•ll&.
L8t• Apnl. Go¥8mm￿t aS)noUn￿ knl •r•J Futhgh. fund raiiiro p4•
6efvp. Thls WOU￿ •wnbJalty ¢)ver £5,C#)O.
Aprtl. The gowmm¢ntgr¥ntWaB Wy qutk kn rByxKI. aThl wo firnt trarthe ofmorw,
IncludlTrJ furtOU9h morrty.
Jun¢. H•ritsge Lottery m•Jo. Juty H•n*ge Lolt•ry grnnt wdl The iF4ed ofthii wa8 A
lrfe tswer fty our cash fltrw.
Juno. Thé 8readway TnJsL to thdrakns the lo￿1 crynmunty. *w8rded u• 8 grnnl
which are incredibty tha[*1￿ IOT.
July Folkn¥lng Th comple￿.£￿ ofth• COVID¥1• •0••￿￿1 Ihè Ttrop•rKd r•Btrict•d
Visitor numbers and safety ff*asures m p*e m line 9cA*fTM￿t guvjarth.
2￿ Au9usL 3 days ￿rwe8￿ orty with advance boDking onty onkna th1￿ ArtFuTrJl.
Slh November. clo￿ a9ain- seccrtd wav• ofCOMLk19.
Nowmber. Lounch
shop.
N0￿M￿*r. firnt onliw FrwKls lak.
NO¥ern￿r We werg ab* to conthnug our education wtyrarnm•. Stu￿1$ IT￿ Rycot•Yor•a
Fumiture Contre fty th￿¥ annual wslt. 8TrJ •At8rting the desbjn prrie In Novernber. $pon60red ty
Imagination.
s 2020 cs)ndtsdgJ the COVID vacune w88 stathg to ron OUL finbhgj the Yearfin?￿o1ty neutr81 to t
ck6ures haviig sutcessfvlty repL8c4d fooifall IKcffle th grants. futhwgh, 8TrJ donthns. Due to the ¢105ure
onty 15% of our income was Ir￿ footw. OonaU0￿ and rKTW mBd• 72% lup frtyn 28% in 20191.
I wouka like to personalty Ihank exh ebBry Tnjstee. tha Staff. FrièTrts arKI SupportWS-yl)UT efforts
donations hw4e during lkn ttuubknd knes.

ar8 currenty open 6 tws Ferw*k wth n￿b￿S dimbing s1•&lfy.
Olsr fubjo 1$ $tql brvJM.
Kind rward5
Jonathan RU￿91
Chairrnan ol the Trustees
After appropriate tNsteE5 a reastsvL4eexwt3tknittr4tthedwity ha5 Jd¢qu8te rvg)wcesto
In operatk*nal uistence loregétable FortN5 thty ¢￿tin￿lo•dopttht0ohKt￿￿rn basls
preparin8 the staemerrt

GORDON RU55EiL TRU
REPORTOF ThE TRUSIEES IconL)
FOR THEYEAR ENDED 31 DECEMBER 2020
The trustees are resp)ns￿e Retort of the Tr￿ and the ffinartial statvDÈnts in acCorthn￿ wrth
apklicable tswafid Urted ¥JwMkty￿1r￿s18Tr￿rd$1un1*d f￿81￿*￿£tptedIUQu￿1Iry8 placi1￿>.
YhelawapplKabletotharf(*s In E￿¥￿andWa￿s.t￿charIDesAc12OIl, Clk*rhylAccwntsand Re[￿rts> Ae8ulaUon$2LbJ8
and the prows1on*ofthetwu￿ tleed retythe t￿trUsteeS1O riepare finaKlal SEatemeN5 for each financid yeaTwhKh 8Ne•
trueand lair¥*w olthe stste of affalrs chwiiy and Df the irf0mM￿ rewuttes and applk*Kinof reswrce5. indudine
theln¢ome4nd olthech¥iiylorth*t pethod. Inwep3r4¥thtyseflnancW5ts1Em¢ni¥ ihetru#ee5arete4ulred
to..
obser¥e the metknjswd ￿ncIp*S kn theChwtySORP.
makeludBements and e5twn•testh•t ire re•son*lt¥fvJ wtht.
preparethefin•rthlsiat•nty￿ ¢xi t￿6•￿11£0r￿Db1￿￿A1eSstt i51n•Fwowwtelopr*sumeth*t
the chbrfty wlllcontinue kn buyn
The trustees are resp)rslt4e lor keep"n8 k¥opera(forn r￿ords￿lI¢hdlsdOsew1th rea50n8bSe attUfXV at anytlmethe
flnoncl41 positron of the and to e•able them to e11511r* that lknartial ststem•tts CoM￿Y wlth the Clu¥lt*s Aa
2011, the Chartty Ih£row)ts and Aeportsl Re8u*ions 2tTh aTrJ prtrd51onsof the iruH deed. Thry •re 81$0 iesKX)nsib
for safeguarding the ass*S of the ar￿ he￿e fw reasryth steps tor the prevenum ddeaity) of ftatyJ
and other Irre8u￿￿￿1e
Appro￿ ￿ thebwdoliruMee5M.
b¢h811trr.
Jlij

GORI)ON RU5SÉ1L TRusr
INDEPENOÉNT EXAMINERS REPORTTOThETRUSIEts
FOR ThE YEAR ENDED 31 DECEMBER 21ml
I￿￿0￿the fov thE￿￿rt31 Decem￿20205￿￿￿ron p￿510 IL
The C￿liEV5truSteesaIe iosFthsthle for the olthe￿(Ovffl& Tr*(hawstr￿esc￿￿Swjer ih7t an audit 15not
rÈqulrÈd for thlsyeèr lundw 5ertM)ti 144121 of the (hth Aci 1011 lthe 2011 Aci11 •Oth*t ath thdwndent examiN8tlon
is reouiied.
It L% my responslbllhyto..
exam[￿thÉ atcourt5 under Settlm 145 of 2011Aci:
to follw the pr￿ethre$ Gefyv31 LXre£dcffjs thè Cthartty commts￿on luthder Secibn
14515llbl olthe 2011 Act). and
toswe wheihÈr p3rtkul*r mauery h￿£￿10 my ait•rtb>L
•#tso1th• Ind•pl￿ni•M￿N￿n*e%rnpllrt
My examln•iK)n wastaN6ed lnxc0rdèncewlththe6￿trnI Crfiectlotysth￿ ￿the ChathCofflm15slon. An exarn1nat￿n
Indude5 a r￿eW of the accounthw recwth kept ty the th¥llV • comwdsm of weserted with ihose
records. r( dso indudesconsideraiion of any ittW150r di5rl)swesiithe ￿(o￿ts¥r￿$eek1nStXplIn•llonsfrOfft you
as ¢rustee5 COr￿rnIn8 5Uth matter> The wc<edLYes wderuken do not pr￿[de *1 the tha1w0￿ bo rèjulred In
an èudit. and consequential￿1 no op*￿Th a5 iowhether ihe and tslr vle%< •TrJ the report Is
Ilmtted lOth05e maueis sd intht statem￿t￿lOW.
Ind•pend•nt*Mmlv•rf55l•t•rnw
In connertion wfth myeNamknJtlon. nom•ty¢v hbsctyneto1iw•ttentK￿.'
111 whl¢hONYs me re05w•WÈcawtobek•*ilwL ￿ary rr4t•thba¥>K tr* w￿rem*Its
tokw•r07UrtIN remrd$lnwx(￿dX•wth SK¢bx l>)olthE Att ￿L. Ind
to p¥epar* #counts whkh with ar¢tymt*¥ •*J to ¢ryTh￿y th the
¢oundn8 requirementsof the 2011 ACL
121 to whkh. In my OF4n10r￿ wthrto erts•L* * woper oftheKrourts i?
be re¥hed.
Andrew N￿[4•$ clliiè
14khoksCNffe& (o. Umfted
Mill House
Mlll Court
Great Sl*Wryd
CambrbJ8e
CB22 5LD

GORDON RIJSSUL TRUST
srATEMEMt OF FINANaALAcnvmES
FOftThE YEAR ENDED 31 DECEMBEA 202
INCOMIIIG RESOUIICES
Donal￿ns.1£8aUesand thaitablE*lpAie5
In%%5vnents
78.697
Toi•l
RE￿A(£s EXPENDED
C05t50f ￿ne1a1￿￿efunds
Co*$ of thèrftabk artIv￿e$
Other re50urees expended
37.565
25,605
67,876
14•tld•firttlftrth•
1790
114,7841
N•t Infvnthftrth•￿T
114.7MI
712
xesfm p•se$710 lllorrn F•rtofthese st•t¢mertS

GORDON RUSSELiTRUST
BALANCE 5HEEr
FOR THE YEAR ENDED 31 DECEMBER 2020
2019WI
HXEDASSETS
assets
W71
305.857
>)i571
305A57
CURREpifASSEfS
1.313
42.126
25.038
68,477
St¢xks
C45h* bank Ind In hand
$4858
CUIiREiif uAB￿lEs
4A12
712
369.922
unr•51r1￿ lun￿.
G•rwt•l fvnds
n2
369.922
369.92Z
n2
The hn•ndbl ￿￿ements￿ere •pwo¥ed tyythotrustees011
ind *i¢d behBWty.'
}L4
Th? rK¢e50n p•y$7to 11 IL¥m wto1t￿fiN•n¢1II statemerts

GORDON RUSSELL TRUSr
NOTESTO THE FINANCIALSTATEIAÉIITS
FOR THEYUR ENDED 31 DECEMgER 2020
The accothtslffinanthl qatem•￿} bEen ￿￿*[ed ur￿l￿hl51tyulto$I u>nb*itonwith iecogni5Ed at
CO￿ ortlansadion walL* unle5501heThbise strted Int￿￿￿￿1 DotÈ(sl to these accounts. Thefinandal st￿eMen1S
t been pre￿￿e4 kn aCCorda￿e ¥JiththtStatefftem of Retrmmended Practre.. I￿oU￿tbns and Rewrtln8ty
Chartties preparing Iheir3C￿Urt$ ￿ ￿(Or￿arKewllh the finarfial Report1￿ 5tandafd appIts￿e in the VK8nd
ReputrAi¢of Ifehnd IFRS 1021 issued on 16Juty 1014 and the finanU￿ RryrtllkgStandarOwWkat4e In ihe Ltnrted
KI￿d0Th and Re￿bI￿ ol Irel4nd IFRS J021 andthechwtt￿Act 2011.
ThecharKy¢on5titute5a ber*fft *th¥sdeW tyFRS 101
All Incomln8 rosowtes are Incbjded in the Statement ol A(￿ wknthedwrltylslelalty ehytltd tothe
Income and the4mtyJrf(w be oU￿tIfied¥11th reason*le iccurary.
Expenditure is accounted foron an attYuaLgbay5afid has b*n d•wf*d Under head•￿$th￿￿Oreg￿9ll c05t relat¢d
to Ihe caLesory. Where c•siSt¥n￿l bedlreLtr•ttrftrArted to p•rtlpJlJrh•dhythe4 ha%* alloc*ted io xthAtieg
a boy5tonsistentwSth the use of fesow
The ¢h•riry15 exemrnfrom tax onitschDrlth•thk
Tr•deand ffjh•rdebiors ar* r*twW•tthtnEt lett*Ment￿1ue. Prewyrwts¥ev•lwd •1 the net prewld
amowi.
CredItorsa￿ provW0￿ are ￿tsId*hen the cl4ffty h￿• westr¢obWk>nTesuMlr4from • wt e￿nI that wl
ob8bly resuh In the trènsfer oflyrKls io a thiid p•rty a￿1 th•amourfduetO Settle theobl4allon w be measmdor
estimated rellabty. CredRLYsand pro¥ith)ftsae I￿le((SnI￿ atthelr net settknnent vèlue.
Fur*1 •tLovntlry
Unrestricted fwd5uth bè used In thechowit•t4e objecirf •t thscretkni of ¢PbetTUStee5. R•51￿￿￿1
fun¢tsun onty be used lor wttularrestrfcw wrposes*ilfuDl￿Qb*tt5Ofthethar￿.
I INCOMING REXMJRCES
T•t•l
Totsl
19
Oon7tlons
65.256
46,871
2,345
3062
548
C(rynte sponsor5Npl wroTh3g2
Frlends. dolla1￿n5 •nd membeTsI4p
Gfft •ld
3.615
1,282
78,697
l kncomlnE wuwr¢es 31 Decenthr2010aTh131 1019 i¥erÈiinresirttul.

GORDON RiISSEUTRUST
NOTESTOTHE FINANQALSTATEMENTS
FOR ThE YEAR ENDED 31 DECEMBER 2020
114COME FROM IIIVESfMEINS
Total
20
20
Interest retei4ed
RESOURCES ÈMPEIIDED
Tot•1
Total 2019
A¢fvertl%n8¥rf15alÈs
Conservatlon
Museum award5, 8rants￿d￿pn#knS
Openin8 Mock for iesa
Purthases for resa
Boo* printlth8f05ts
(knskn8Stock for reyl•
530
42,126
7,472
44,045
16,457
118M531
141126
Independenl *xamwsfeÈw￿XroUNi•
1175
419
37J65
1.911
934
Totsl
Totsl
2019
Efflployee costs
35.127
38.616
Premlsesc051S
Oewec*lioft. Impalrnient. yofftlkntsondtsfvwl offved451¢ts
Gener31 adm5n15tral￿￿Co51S
al and profe$5bnalrosrs
5.751
3.286
5.928
9.151
14,665
1,3
5. $r￿F cosrs
Totsi
Total
1019
33.314
35.352
621
643
peTr￿0n o)srs
Traini
3&616

GORDON RUSSfLL TRUST
NOTESTOTHE FINANOALSTAIEM£I4TS Icort.)
FOR THEYEAR ENDED 31 DECEM8ER 2020
TAPIGI#iE HXEDASSErs
L•*l•nd
Totyl
At I lanuary 2020
Athlltions
Al 31 D￿rn￿r 2020
221170
301571
18A35
772257
229￿1
222,170
302.571
18.435
772.257
Implrme
Al l Janu3ry2020
Oewecwtion th8r8e fry thÈ
229ml
2U170
15,149
3.286
At31 xi20
A35
169.686
At 31 Derember 2020
X)2571
At31 December2019
302A71
2ffl•
853
41116
4A12

GORIXY4 RUSSELL7RUST
I)Er￿LE0 STATEMENTOF FINANCIAL ACTIWT
FOR THE YfAR ENDEO 31 DECEMBER 2020
TotslfvrMJs
2019
Donaiions. admlsskn4 shopsa*5
Giants rttdved
Corp)rate wn50thiplp3tsona8È
Fr1er)d5do￿tk)ns*￿ membershy
36.821
46.871
1345
8y4
3,615
1.282
9).447
78.697
Investwts
Total In¢ry
47
Ewidknr•
Cosrsof Ienerntl￿d0n•lb>ro
Charlt3ble atUY¢l￿5
A(fvert15inBaThl salts
ConseThatlo•
Museum 8wards, 4Atts•nd dM•iky
Openln¢stoc* lor le￿Ie
Pufthèses for re4le
Bot* printrTrx£os
Closln8StcKkfov iesa
42.126
7.472
16,457
118.8531
142,1261
349n
Go¥em•nce co￿$
Independent ex•￿1￿$ Iet•ndaccr￿rt•1KY
2,175
419
1,911
934

GORD(X4 RUSSELLfRUST
DETAILEosfATEMENf OF ANA14£￿ Acn¥irEs lu#*l
FOA THE YEAR EP40ÉD 31 DECEMBER ZIIZO
Totslfw
2019
SèLHrfes andwa8es
Pen51un c05t5
Trdinin8
33.314
35352
621
643
X)5
35.127
36.616
Motor and costs
Premlsescosts
Admlni5tr*Necost% irt1￿j￿1
Le881 and Profess￿?1 costs
5,751
9314
9.151
L3
Totalexperrflrtyve of otP*rca
50.092
67m6
Toth1exW￿￿￿re
57
Net 8•1fison Inveskneffls
Nd exFendbiure
114,7841
Net expendltwe befweotlwqa5￿Ik￿$j
Other 831n5
790