Ch•rlty number: 326441 REPORT OF THE TRUSYEES ANO UNALIDITED FINANCIAL STATEMEKTS FOR The YEAA eNDED 31 DecEM8ER 2024 FOR GOflDON RUSSELL TRUST
GORDON RUSSELL TRUST CONTENTS OF THE FINANCIAL STATEMEprrs FOR ThE YEAR ENDED 31 DECEMBER 2024 Contents Pa988 RgkKiff of the Trustees Ind¥g8ndgnt Exa11n@9 rèport lo the Trustees Slalémenl o,, tiftanc.ial activiles BalanLM> SI1¥8 Notes io •li¥ Finan1 Statomenls 10-13
GORDON RUSSELL TFIUST
REPOFIT QF THE TRUSTeES
FOR THE YEAR ENDED 31 DECEMBER 21Y24
The Truste85 preseni Iheir roport with the financial statern8ntg lor the yèar ended 31 De¢embeJr 2024.
REFERNCE AND ADIIINISTRATIVE DET AILS
98gislered Charlty Number
326446
Princi0 address
15 Ru5SOtI Square
High Stroot
Broadway
War¢e5tershlre
WR12 7AP
Trustees
Joriathan FIussg11 (medic Lgave)
J
GOHDON RUSSELL TRUST
REPORT OF THE TRUSTEES (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Strurture Governance and Managefflent
The Goidon Aureoii TrJsl was pslabiished under a Trust doed daied 17 October 1983 and supplemenl Trust
Deed dated 10 auly 1984 and further suppleiiienl8d 11 Januaiy 2022. Tne Trust is an educa41onal cnariiy and Is
Ioially WTdependenl body. Tile Trusi operates in accordartce Nyith the DeGlarati( DI Trust 8dopted 198
Ch8r..ly Is managed by d Board ol Tiuslees.
Achievernents and Performance
2024 ,qa'N the conlii?UAQ slabilisalion ol the Trupl alld Muvéum In2ncep al Only i? mod&T>I lo4$ al F2.94ry112023=
52.6981 corJpwed 'wilh Iht) larger los%ey of pre 8nd posl GOVID years before 2023. Woviever. In 2Q24 unlike
orèvious ye
GORDON RUSSELL TRUST REPORT OF THE TAUSTEES (CONTINUED) FOR THE YEAR ENDED 31 DECEMBER W24 Donatlons A Museum Frlends, lamity is cru¢1415y SUPPQrtlng our present operation and activ.8$ wrth £5.C(Q pei annum for 3 yéars through their Hilgry and Dad White Ilos¢ Foundat. Wé are also grat8lul lor the annual dortration ot £2.IXD from our prnfi, Anne Albrh1 and the valuable and continued support ol the William H8nds Trusi. Grants Th8 MLuM recgwad a grant 01 £9,668 Irom the Ass¢xlatton ol Indwndent Museums lof our cal hislory proiecl e5Gritsd below. New 5torles. New Audlence5 Fundi for Qral Htstorles In the spriftg 012024. the Gordon Flvssell DesKJn Museum and the Broadway Museum & Art Gallary tframed up to fecord inte¢ With formef employ8es of Gordon Ausseu Umilad, thank9 lo a gTanl trom the As$o¢ldtlon of Ind•pend&nt Muséums (AIM) and the National Hèrllage Loiiery Fund INHLF). The funding enablo(I Ih? museums 10 hiro an exp8rnc8d ord hiylor5an to ccnducl nine key Interviev4$, triCh will be pr¢ser¥ad in our respectlv8 8r¢hivés. IrtleMewee5 sharad rn•moria of their ¢hlldhoods. Ihoir early worknng Ilves. and vryid r011ections ol tha sigh15: sounds and smells 013 workpla¢• thai no '.onger extsls. In addition lo thèse Ini8Mews, tb.e gra the raorurtmani and tralnln9 01 ra1 volunlg•rs Trn oral history technv4ugs and Ihg PUhaSe ol rfjcordin9 eguipmgftt. This 8quipm•nl en5uio$ wg can coMin)Je adding Inlfrpii8WS ih8 Broath¥ay vilkge archiv85. Upon Glosyre tsl this project In OeGomb8r 2024 visrtors lo l)otb museums were able le Ilsten to th950 r9markabt¢ personal historigfj through n•wly acquired mUs6m-n-a.BQx leGhnoltrJy. lunded by th• grant. Ovr websrte acknowledges the wondertul resutts Dt proieGt: http8.'Ilgordonrus8•lldesignrnuseum,orgloral-hlstode The Gordon Russety Design Museum and the Broadway Musourn & An Gallery 8r8 gratelul to AIM and tha NHLF lor Iholr support. They also look tOard to wgkomTng NalK)nal Lott players knO$• conlrlknlions mado Ihis prop poss)le. Volunt¢rs Our loyal and enthdswtlc Muse12m Volvnteers are 8598nlial to enable the Museum lo open 3Th1 op8r8t•. We ara ospecially indebted to cur week-end volunleeis. and the specialisl volunteefs who act as Tour Gumjes, manage the Mv5eum ArGhive, an¢ deljver our greatly valued pwrgznrne ol Friends Events. W9 would atso like to thank Rogef Dudley for hoslin9 the Friends Gdrden Party al Luggors Hall. LeaTnlng Th8 Museum and Rycotaw¢Jod Coll898 have rolreshed and greatly reinforced our annual Gordon Russdl Ltd Ray Leigh DeswJn Award lor their final yaar design sIants. 8lu¢Jenls now work to design cr)mmafually Succs1VI batchvrnade Products, then mad8 in balch numbers by hand and machlno In a vanety of materials prin¢ip8lly wood. Desons selectod merit al Aycolewood's annud prize-vIng 8re very SUCGesgluHy prof•d lor sale in our Museum Shop gn.d or,lin6, and potentially larger scale Commerc119814
GORDON RUSSELL TRUST REPORT OF THE TRUSTEES <CONTINUEO) FOR THE YEAR ENDED 31 DECEMBER 2024 Looking ahead 11 2024 liendg are maintained, Ihis ghould lead to the Museum achieving a modest and su51aincible financial surplus In 2025. In toéay.% iJr,certain Ènvironmenl fof herilag8 visitor aniaelions this will be an imporlant and most welcome dchievemenl lor our Trust. Statement ol Trustees, Responsibilities The Iru5peps ale rOSPOI)sible lor preparing tho Reporl ol Ihe Trusleos and financial slalemenls in arcordarjce viilh pplicable law and UnileL4 Kip.gdom Account5nq St2ndtirds IUKGAAP). The law applicable lo charitS in England and Wales, Ihe Charities Act 2011, Cliarily {AccounlS and Ilepo.s) Regulaliorys ?008 and Ih@ piovisions ol the Irusl depd requiye th? Irus'iees iu prp.pare liiiancial stalempnls for e¢ich liiiancial yoar wnich give a Irue and lair vieiv ol Ihe stale of affair5 01 Iho charily .)nd ol rhe incominq resources aiid applicalioii ol règourcÉs, ip.riuding ir?roine and extiendilure. ol Ilie charily lor Ihal pcriod. In prepqinng the lindnrial slatt)rnenls the Iruslecs drc roquiied l(Y. Selpct suitable acLountine policie5 and Jpply thern conslstently Vbsetve meihod artd principles In The Chariiy 50RP Make juagernenTS arid estimates thai ale reasonable and orudent Prep.Ire tho tininti31 stalen)nts or) tl)o yo.'ny concern bhs15 unlL'5S IL kn inJppropriaL¢ Iv P¢i¥suniL thdt tlie i57Ai ily Ivill con.inue in biisiness. Thp. ITU=lees are respor.*ible Tor keeping proper 8ccoufFlin9 rorords which disclobe W¥lli rcasonable accijracy at aiiy time5 Ine financial posilicn ol the chaiily and to eNabl8 Inem lo onsure Ihal Ihe financial stalerrtenls carnply iilh Ihe Charities Act 2011. Char11y (Accounls ?.nd Aeportsl Flegulalion% 2008 cind Ikie provisions ol tho Irusi ed. "fhey are also respon Jible ', oc 5aleguarding Ihe dsseis ol Ihe charity and hencc lor taking reasonable Slops lor the prevenliijn ano detection fraud ar,d other irrogblarilres. ApprL)ved by IlTr& I ruslees ¢)n and bigned on 115 bohall by. J. Git)04 {Inlerim-Chairl
GORDON RUSSELL TRUST ENDEPENDENT EXAMINER'S REPORT TO ThE TIIUSTEES ON THE UIIAUDITED RNANCIAL 5TATEMEiirs FOFI THE YEAH ENDEO 31 DECEMBEH 2024 I reporf on Ihe aGGounts lor ihe al endèd 31 Docember 2024 set out on gages 710 12. A•sp•ctlv reBpoftslbllltles ol Tnt•tsM and Exafflln•r The charity's trustseg arg TaSpMsit for ihé propafatlon ol lh8 accounts. The chaiivs trustees ccmsid8r ihal an auoll 15 not reryirÈd tai thls ar lunder Secbon 144 {2) ot Chartlgs Act 2011 lryhe 2011 A¢i"i ano Imal an indaFondenl Èxamlnalion Is required. It is my r8sponsth>il¥ty to - examine the a¢counts und81 se¢bon 145 of Ihg 2011 Act, - to follow tho prt¢8dur?$ lain dowts in tho G•noral Difections givqn by tho Chaiity Commlsglon (Under Section 14615)(bl ol Ihe 2011 Aot),. and - to slate whéth.er partl¢ular mattÈr$ have come to my attenllon. Ba•18 of th• Ind•pèndèfil Exttmlnel's v¢port My exaMinaOn was cam•d out in aanc0 wiLh the Gener Dire¢v"3 w'ven by thè Charfty Comrfsslon. An OxAmEnatn includès a revièw of the accounlTrng rg¢ord$ k8pI ty Ihè ¢hanty and a cumparison lo the acLounts presentéd wth those record•. 11 also ineludes Ihe CDnsid8ration ot any U$val items or disclc6ures In th8 amnt8 and seeking exaall(S Irom you as iruJ160s conc8mln9 su¢tt matt¢r4. The prIdureS undertak8n do not provlde all the avldgfi¢8 which VIvId bg Wulrgd in on audrt. and wnsequ8ndy no opth5on Is given a5 t) whether the accounts pr•J•nl a 'lruè lair vlow, arxl the rew is limited to those matters t oul In Ihe statement b•low. Indop•ndthtt •xam5n•trs 4i•t¢mgnt In Conn10 with my oxamination, no rnatter has cofn¢ to my attgnlion.. 11 whlch me reasonable cau50 to belEeve ltrol, in any material aspect, Ihe rewirements - to keep cOUnting reGord5 in aLcordance Y4th sects'on 130 01 tha Aci 2011: and - 10 pr•pare accr)unts vthich aGG(YQ the acoounilng records and to Ine accounting fequiTements of Iho 2011 Act. have not been m•t. or 2) to wthich. in my opinion, attention should ba dravm in or¢•r to erth a wopr urKlerandiry 0¢ tha attounts lo be rea¢had. SIMON JAMES GILL - FCCA GGIN OSBORNE FiJLLERLOVE 95 THE PAOlaENADE CHELTENTrIAM GLSO 1HH Oatg.,
GORt)ON RUSSELL TRUST STATEMENT OF FINANCIAL AeTIVITÉS (INCORPORATING INCQIAE ANO EXPEKIDITURE ACCOUNT) FOR THE YeAH ENDED 31 DECEMBER 2024 Tol81 2024 Total 2023 Note8 ADJ INCOME AND EXPENDITURE In¢ornlng Fle8ource8 t)onations, gaCleS and Charrtablo aclivilies Tl.22 YO,041i Interest 438 TOTAL INCOMING RESOURCES 77,660 ,046 Reaoure98 Expanded C05tJV ol Ghaflteble a1vIlla5 Other r8sourcas oxpendffli 32,715 47,866 32,479 TOTAL AESOURCES EXPANDED 80,581 92.744 Nel delicil for the year 2.9211 2.698 Nel rnavoiponl In lun08 12.6981 ACCUMULATED FUND BAOUGHT FOFIWARD AT BEGINNING QF YEAR 361.126 363,W24 ACCUMULATED FUND CARRIED FORWARD AT END OF YEAR 358 05 361126 Th• 8tatornt of tir.aThcial aob"VLti•S sncludos all gaing and las$8s in Ihe yeai alid thefefore a 5eparale slatem•nl ol loial recowised gains and lossos has pol beon wepared. 01 the in¢oming resources, £9,6681202J - £10,250] was desTgnated. During the year. g2.SCrf) ol designated funds was sponl on Iho. a¢ouig:"lirm ol items lsy 7ho ¢oIlèdi7ts l?023 - £2.4941. Dwing th8 yoar. È9.668 (2023 - fS.250) ot designaled lunds were exponded
GORDON RUSSELL TRUST BALANCE SHEET AS AT 31 DECEPABER, 2024 Tatal 2024 Total 2023 Notes ADJ FIXED ASSETS Tangible assets 307.565 305,065 CURFIENT ASSETS Debtors Stocks Cash al bank and in hand 4.217 9,942 38,454 4.595 13,039 43.548 52,613 61.182 Creditors Dug within one year 1,973 5,121 NET CURRENT ASSETS 50,640 56.061 TOTAL ASSETS LESS CURAENT LIABILITIES 358,205 361.126 NET ASSETS 358205 361.126 REPRESENTED BY Oe$lgnated funds 2.500 UnrestriGted funds: G8neTal lunds 358,205 358.626 3542Q5 361,126 Approved by ihe Trustees and authorlsed for Issue on ... and slgned on their behall by: J Gibbs
GORDON RUSSELL TRUST OTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024 1. Accountsng P4>1icl•s B98is of preparalion and assesgrnÈhl ot gtslng cancern The accounts Ilinancial slalementp) have b88n Pfepared under the historica1 co¢1 eonvenliap. ffvrth Ilems recowised al cost or trans8ction<il valiig L.'nlEJ8 Otherwise Stated in phe r8lev¢]nt noig(%l to th8$8 8ccots.iils The linancia Slat8menls have been prppRrp_d in acryreeince with Itie Slalemenl of qecommendpd Pfaclice Arcountinq and Reportlng by Ch&¢ilies PTepEiring thoir accounts in ac¥ordancc wilh IhL, Fin¢incial Rcporting Siandard applicable in the O'n,ied Kingdom aTrd Republic .1 Iveland (FRS 1021 issued on i S July 2014 and the Charilies Act 2011 Thio chariiy Covslilutes a public benelil Ènlilw d8lined by FFIS 102. Cash Flow The C.hariiy ha Ink8n advJntfjge ol l.ie &K8r' plion TP. F14S 102 iyom Ihe requireineiil lo yiuiJu¥i' <1 Ca$ Iluw statement becausa i,, Is ? %.ryl.L411 QhaTIty. InGOrning Re50ur¢es Al Incoming leour¢5 are in.cluded in the .4laip.rnorsl ol Financial AciiviiiÉs wher •he c.ttarily 1£ legxlly entitled lo the income and the arnount can i)e qknap.lilied wilh ro4Onab1P acGknracy. Resources Expende(J ExoÈnoilui@ is 4ccoun.led (or on an acLruai4 J&l.%is and h¢lS Dne.n cla5511ieo under headinq" reldl&d '.F.LJ Galeg4)ry. I,ijk.. rhdr aggrpg3'.& A:'I rc iools car '101 L)e G -.ectlJ c?ttribuled lo Qfjf',iCulcir kiL'r'.dinqa l. allof.al•c' tfj ai-lii'll.,e i l)&s,'c- r.or. iey haL/t Leeri h?. oi rJ3oufK+e.4 -Ihe Iri'&i.UVc>V*ib5ti Lltrrni!rl4 ljaliie Ad£19d 'rax i) Ir',c',iJdpd i12ilhin the Item rjl expen8 lo Yihich il rF'aies. Funds G•Treral ullreslrided lunds coTrprise accknrv, ulaieo .Sdftyu5e5 8n<i delicils on gpnèral aclivili?s. Thoy dre avi1jl,?ole for use at Ihe discrerion ol Iho Iru5".ee- in luriherarFoe ol I.e comporiv's Jbigctive5. Reslriclgd luros are lund which 2re 10 ba used In a¢cordaiice viilh soecifir. rogirirliorio ,mEe by Iho donor or triisi e&%ed. TaxailDn 'rhe charity ir exompt froY lax on rts ¢harilabl8 aciiviliei). Debtors Trade an$ her debtors ar& recogn15ed ill Ine riel sotllomenl valug. Propayme.I1s are valu8d at the ,iel OTopa arnounr. Credltors Credltors and proV10nS aré re¢ooniseo wheiTr the charily has a prgqeni obligalion rosijlling rrcjm a past event that will pr(Jbably rpsLIIE in the !Transter cl funds lo a third party and rhe aTr.OlJllL due lo sellle Ihe obligolion can measiired or ¢Slima:ed reliaoiy. Gredilois and provts'ions ar8 normally reLognLoed al Ihwi nol selllemeni value. 10
GORDON RUSSELL T14UST NOTES TO THE FINANCIAL STATeMENTS {CQNTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 1. Aecowrtlng Pol1cl {Mntlnu•d) Fund aceountlng Unf8gtricted funds can be used In accofdanc8 wilh the charitable objedNeS al the dwrgtK)fi ol the ITUSt8es. Rasiri¢ted tunds ¢an only bo usod tor partrular pvrwses withing thé obieclNes ol the charity. Desi9naled tuf are useo lor a specilic project In aGcordanc• wtth the wtshed ol Iha gv9r. 2. InGomlrrfJ r•souw¢ Total 2024 Totsl 2023 ADJ Don&lons. admission$, $hop salo5 Grants Fleceived Cwraie sponsorshsplpaironag8 Frionds. dOrlIanS, rnembèrshlp and events G-.It &d 61,244 9.668 6.672 2,000 1V,169 2,899 4.744 QI the Incomh9 f8SOL4rGg$, £NIL in donotior.s and E9.668 irt grants was dosignatad12023 . £10.250). 3. Fla8ouret8 •xphlned Total 2024 Total 2023 C•)•ts Ot charltable actlvttl•• AdveftivJing and sales CpnsorvalK¥) Museurn awards. grants and donatwjns Ideswated? Opep.Ing Stock for resalg Purchases lor ièsale Closing cosis for resal¢ Inderendent examinerfs tee a¢GolanCY Meeting ¢0Sts 1.522 5.250 14.998 11,203 113,039) 13,039 10,516 (9,942) 5,968 2.479 6,715 Maaiing costs are Ihe axp8nses lor the Musèum Friend5. This covefs. and it not limlted 10. the following aGtivrts ." Hosts"fW ihe online thlks paying rTodesi expenseg lor the 5pgakers. admlnistratlon for f•W and renewal ol Tnwnbafshlps and the Èxpenses lor in porsor) ovents such ag IhB Volunteèrs and Friends Summer Parly.
GORDON HUSSELL TRur NOTES TO THE FINANCIAL STATEMEpifs {CONTINUED) FOR THE YEAR ENDED 31 DECEMBER 2024 3. Flesources eXplaIn (wnlnued> Olh¢r r•Sou¢S •XPlairted Tolal 2024 Total 2023 Employee cosls Promisos cosls Generd ailrnin13lralive Gasls 28,544 9,000 40.560 7,279 12,426 4. Slall cos18 Total 21r24 Tolal 2023 Salaries and wages Psft$ Cosis 28.170 374 39,939 S21 No èrnployee 1è¢8ive¢ gmoluir.onts in excess 01 £60.o001?..3 - nil). 5. T4nglble lixed as98ts Lond and Plant and buildings machinery Archlve Ixiures. Golleolion fittings and equlpmenl Tolal Cost or rÈv41uallon At 31 January2024 Additions 229,081 222,1?0 305,065 2,500 18.435 774.751 Ai 31 Dery4rntsr 2024 229.U81 222.)70 307,565 18.435 777,2S1 Depfftlalion and Impayment At 31 January 2023 Depraeialion chaTge lor tho year 229.081 222.170 18.435 469,686 At 31 Oec&mbor 2024 229 Q81 ,170 18.43S 469,686 Ai 31 Decembet 2024 Al 31 0ecBrnb9r 2023 065 12
GORDON RUSSELL TRUST NQTE8 TO THE FINAMCIAL STATEMENTS (COKnNUED) FOR THE YEAFI ENDED 31 DECEMBER 2024 6. St•)¢k• Tolal 21J24 Total Stwk held tor resalè 7. er•dllorB Total 2024 Totsi 2023 PAYE and NatKYtal insyiance Accfvals and d&feirnd trycom8 14,1991 6.172 7.821 1.973 8. Ad11•4 A¢¢ounts 2022 and 2023 Chanqas wero roquired to iha figL*8 in both tho year5 ending 31 0ecernbèT 2022 and 2023. Tfv5 t5 ffieant ¢orwaiab"vo ftgures Shown lor the yèar ended 31 DeceTr.bar 2023 w¢ll nol agyee with trffjso ligufes pro¥iou51y statgd ID th• accounts.