NORTON PRIORY MUSEUM & GARDENS THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) ANNUAL REPORT AND ACCOUNTS FOR YEAR ENDED 31 MARCH 2025 Company Registration Number - 01232182 Charity Number - 504870
Cover Photo: Image from Medieval Weekend in August 2024, showing the camp area with the museum in the background.
THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 CONTENTS PAGE TRUSTEES ANNUAL REPORT Chair's Report Our purposes and activities Achievements and Performance Financial Review Plans for the Future Reference and Administrative Details Structure Governance and Management 10 Trustee responsibilities relating to the financial statements 12 Statement as to disclosure to our Independent Examiners 13 INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS 14 STATEMENT OF FINANCIAL ACTIVITIES 16 BALANCE SHEET 17 CASH FLOW STATEMENT 18 NOTES TO THE FINANCIAL STATEMENTS 19 DETAILED INCOME AND EXPENDITURE ACCOUNT 33
Page 1 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Trustees have pleasure in presenting their annual directors, report together with the financial statements of the charity for the year ended 31 March 2025 which are also prepared to meet the requirements for a directors, report and accounts for Companies Act purposes. The financial statements comply with the Charities Act 2011, the Companies Act 2006, the Articles of Association, and Accounting and Reporting by Charities.. Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015).
Page 2 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 CHAIR'S REPORT In 2024125, Norton Priory welcomed several new positive initiatives as well as dealing with a number of challenges. The museum entered its second year as an Arts Council National Portfolio Organisation (NPO), with the high-profile designation and extra funding again proving a game- changer. The events programme, under the artistic direction of A Place for Us, attracted new audiences and a diverse range of high-quality performers, including the Liverpool String Quartet. After the huge success of Luke Jerram's Gaia in January 2024, the museum arranged for his similar planetary exhibit, Mars, to hang in the foyer for six weeks, January - March 2025. This again proved a popular draw, as the red planet gave a major boost for the museum at a traditionally quiet period in the calendar. A full diary of supporting activities and events attracted both regular supporters and first-time visitors. In January 2025, we welcomed a new local catering company, Olive Tree, to run the museum café and crucially to provide a more flexible, higher quality food offer to complement Norton Priory's expanding events and activities programme. Community engagement is key to ensuring Norton Priory's future survival and success. Highlights for the year included the popular Medieval Weekend in August, the autumn Quince and Apple Festival and traditional Christmas Fair. The Education Team also welcomed thousands of local school pupils on a range of tailored courses. Staff are supported by a fantastic team of more than 60 brilliant volunteers who help with a range of tasks around the museum and gardens, and at special events. In terms of challenges, operating costs continued to be high, particularly utilities and maintenance bills, although building costs were lower than the previous year. The Trust would like to put on record its appreciation for all the exlIent work by the Museum's CEO, staff, trustees and enthusiastic volunteers - a great team effort which ensures Norton Priory continues to thrive as a valued museum and visitor centre. The Trust again benefited from a wide range of partnerships including Halton Borough Council, Arts Council England and other funders. In 2026, we look forward to maximising opportunities created by Culture 26, a third year of NPO activities and other positive developments around the 42-acre estate. Lynn Pegler DL Chair of Trustees
Page 3 THE NORTON PRIORY MUSEUM TRUST LTD {Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Our purposes and activities The objects of the Company as set out in the Articles of Association are to preserve. restore and improve the buildings, features, objects and gardens on the historic site of Norton Priory in Runcorn, Cheshire, and to operate a museum interpreting the site and its history for the benefit of everyone, both now and in the future. The above is encapsulated in the Trust's mission statement: 'To conserve, champion and celebrate the heritage, landscapes and collections of Norton Priory for present and future generations, The strategies employed to achieve the charity's aims and objectives are to: Provide first-class museum and horticultural displays to engage new and diverse audiences., Provide a creative and busy programme of events and changing displays to attract repeat visits and to broaden our appeal. and Provide an excellent education programme designed to engage as many schools and community groups as possible, including a special focus on people from areas of high deprivation and those with disabilities. Putting these strategies into action, the Trust has three major areas of activity which comprise of" 1. The museum building and its collection. 2. The gardens and grounds. and 3. The community engagement and events programme. In shaping the objectives, the Trustees have considered the Charity Commission's guidance on public benefit, including the guidance 'public benefit: running a charity (PB2)'. The Trust aims to provide the broadest access to and engagement with the collections, gardens and archaeological site. All charitable activities, including the education and events programme are aimed at ensuring that the widest possible range of people are able to enjoy and learn from Norton Priory's resources and facilities. A well-established volunteer programme, provides skills development and social engagement opportunities at Norton Priory to a wide range of, mainly, local people. Our collection and site Norton Priory is recognised as Europe's most excavated medieval monastic site and includes a Grade I listed 12th century Undercroft, which is integrated into the museum building. The Priory ruins, collection of over 200,000 artefacts, plus the gardens and grounds enable us to tell the story of nearly 900 years of history from the founding of the Augustinian Priory in 1134, its upgrading to mitred abbey status in 1391, its dissolution in 1536, incorporation in a 16th Century Tudor house and then an 18th Century Georgian house, through to the continuing excavations begun in 1971. Areas of the Scheduled Monument continue to be explored, as funding permits.
Page 4 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Our learning and outreach programmes The learning programme has become well established and works with both formal and informal education providers. Learning sessions for children and young people are curriculum linked and regularly evaluated. The sessions cater for a broad range of ages and abilities and provide the bedrock of Norton Priory's learning programme. This is complemented by adult learning workshops which are based around traditional skills, such as hedge laying and fruit tree grafting. The Trust continues to work with a range of other partners, including The Bluecoat in Liverpool and independent providers to deliver a broad range of inclusive learning and development opportunities. Outreach events are delivered at a range of partner buildings and schools. The team delivers learning sessions and workshops which draw on Norton Priory's heritage and natural resources and are supported by a range of talented volunteers. The development and management of the volunteering programme at Norton Priory is also part of the Learning Team's remit. Our gardens and grounds The Trust manages an estate of 42 acres, which includes the excavated remains of the medieval monastic complex, woodland, orchards, meadows and the Walled Garden. Much of the area around the museum building is classified as a Scheduled Monument, whilst the estate is home to the National Collection of Tree Quin. The Head Gardener has overall responsibility for the grounds of the estate, with a special focus on the Walled Garden. He is supported by a range of regular volunteers who assist in the maintenance on the Walled Garden. The Ranger advises on providing the best habitats for the diverse fauna that inhabits the area, with a special focus on pollinating insects and protected species. The Ranger's role also includes educates members of the public in environmental and wildlife issues through outreach and onsite formal and informal learning sessions. Our Volunteers The Trust is grateful for the support of a dedicated team of around 60 volunteers. They assist with the presentation of the grounds and gardens, improving the visitor experience and help to deliver learning sessions. Our Staff The Trust has a small staff team, headed by the CEO. The team work together to increase engagement, improve the visitor offer, to build sustainability for the site, and to ensure the site continues to be looked after and developed.
Page 5 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Achievements and Performance The work of the Trust is focussed on delivery of public benefit, providing access to the museum and the gardens and grounds which surround it. Visitors The site welcomed 38,267 visitors during 2024125, which represented an increase of 5.5 % over the previous year. Visitor numbers remained below pre-pandemic levels during the year, but are only 4.14 % below the number of visitors recorded in 2019120. It is expected that, once the road infrastructure work has been completed and the disruption ended, visitors will have more access to the site resulting in increased visitors going forward. Opening hours continued at 5 days per week, with an additional weekday during school holidays. The site was closed on Saturdays when a wedding was booked between April and September. Weekday closed days during termtime were used to support school visits and other group visits, which continued to be popular with schools. Free entry for children was introduced as part of a year-round offer, following a successful trial in Summer 2023. Access for families and local residents is an important part of the Trust's offer. Throughout the year there are a range of opportunities for them to actively engage as part of leisure as well as educationally. Collections and Site A temporary loan of The Clangers, from the BBC TV show, was arranged to coincide with the installation of Luke Jerram's Mars in Quarter 4 (January- March 2025). Whilst no new excavations were carried out in 2024125, planning for excavations in 2025126 commenced. Work with Daresbury SciTech also continued, with computer- generated imagery of the house and gardens set against the context of the 2023124 excavations. Learning and Outreach Learning visitor numbers totalled 4,821 attendees. Whilst this represented a reduction of 3.91 % compared to the previous year, this had been enhanced by school theatre attendances. Overall, 2024125 showed a continued growth in formal school learning sessions. Cross-curriculum school visits continued to prove popular through the year, and evaluation from schools was consistently strong. The year also saw a strong growth in learning sessions for Home Educated children and young people. Gardens and Grounds The new apple orchard planting continued. This will provide a 'living library, of both Cheshire and Lancashire heritage apple varieties and has links to future development plans for the Walled Garden.
Page 6 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Work on a new quince orchard commenced during the year and this will help to increase the ease for visitors to see different varieties in proximity. Tree work continues to be an increased cost for the Trust, as the woodland is ageing and climate change is increasing the number of storms. Events Alongside Norton Priory's regular events programme, new events included Mars at the Museum, and a range of theatrical, comedy and music perfOrmanS. The performances included concerts by Liverpool String Quartet, a range of children's touring theatre companies and a number of comedy performances. These helped to test the market for different types of events at the site. The Medieval Weekend saw an increase of 55.5 % in visitor numbers over the previous year, and is now established as an annual event. Good weather saw strong turnout for the Quince and Apple weekend in October, whilst Christmas saw a number of events selling out. Mars at the Museum saw the museum enjoy its busiest ever February half- term. Being an Arts Council England National Portfolio Organisation (NPO) has enabled the Trust to broaden the cultural programme, including events, and the feedback from visitors and participants is used to develop future events. The NPO status enables the Trust to experiment and test out new events and approaches to reach new audiences. Financial review 2024125 was a challenging year, with operating costs continue to increase across the estate. Utility costs remain high and audiences continue to be price sensitive, as a result of ongoing pressures on family budgets. Building maintenance costs were lower than in 23124, but continue to reflect the building's aging, with 2026 marking the 10-year anniversary of the building being opened. The investment from Arts Council England as a National Portfolio Organisation enabled the Trust to better meet challenges and to continue to champion creativity, with the installation of Luke Jerram's Mars in Quarter 4 a clear highlight. There was a positive Net Income figure for the year of £36k which compares with a net expenditure figure of £21 k in 2023124. The Trust's General Reserve increased by £5k to £220k. Principal Funding Resources Norton Priory Museum and Gardens is owned by Halton Borough Council and leased to the Trust to operate and develop. As a result, The Council provides the Trust with an operating grant of £174k_towards the running costs for the year. This covered 28 % of
Page 7 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 the Trust's 2024125 revenue expenditure. 720/0 of the expenditure is through earned income and grant applications submitted by the Trust, where the Trust maximises the Council Grant wherever possible as match funding. The Council grant is subject to annual approval by the Council. The Trust seeks further funding wherever possible to extend its range of activities and, in addition to the second year's NPO grant of £136.5k, received other grants totalling £5k. Admission charges, including day admissions, events, membership and gift aid thereon, totalled £209k compared to £182k in the previous year as the Museum continued to recover from the impact of Covid19. Shop sales were £43k, compared to £38k in the previous year. Investment Powers and Policy Under its Articles of Association, the Trust may invest any monies not immediately required for its purposes in such investments, securities or property as may be thought fit. Currently such monies are held in a Deposit Account. ReseeS Policy The Board has reviewed the level of Trust reserves required to provide an adequate working balance, to fund unforeseen emergency repairs to its property, and to allow the Trust to scale down its activities on a manageable basis in the event of an emergency situation. The Board considers that the ideal level of reserves would be three months, expenditure, i.e. £157k based on its 2024125 annual operating costs. As at 31 sl March 2025, the free reserves {i.e. after excluding the Furniture & Equipment reserves of £144K which represent tangible fixed assets and the Restricted funds of £46k), totalled £226k. The additional £69k will be utilised to continue to support the Trust's operating costs, including increased utility costs in 2025126. There was a surplus on the Pension Fund as at 31 March 2025 as calculated by the Actuary in accordance with FRS102 of £1,247k, compared with a surplus at 31 March 2024 of £975k. The main reason for the movement was a positive change in the financial assumptions compared to the previous year. The Trust's contributions to the Pension Fund are assessed every three years with the latest review being at March 2025. This is based on a Funding valuation which is different to an Accounting valuation. Going Concern Basis The financial pressures facing the Trust, and indeed the wider cultural sector, are expected to continue into the coming years. The Trust has identified earned income as a growth area, via improved on-site catering and a stronger events programme. The Trustees will consider investment expenditure where opportunities arise. This may,
Page 8 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 for example, result in investing in capital spend to reduce operating costs or to increase potential income. This approach, combined with the continued operational grant from the site owner, Halton Borough Council, into 2025126, will ensure that the site can continue to be operational for the foreseeable future. The Trustees are aware that the ongoing challenges facing the sector, which are expected to continue to negatively affect the short-term financial position of Norton Priory, can be managed by the use of free reserves. Expectations for 2025126 are that electricity costs will stabilise, whilst it is hoped building costs will become more predictable. Combined with a popular events programme and income from venue hire and retail, this will help increase earned income. supported by National Portfolio Organisation funding from Arts Council England. As a result, the going concern basis has been adopted in preparing the Trust's financial statements. Plans for the Future The Trustees are looking ahead to continued improvements across the estate, including at the Walled Garden, whilst also being alert to the impact of increasing utility and other operational costs. Business cases will be developed to ensure the sustainability of any new developments. Trustees are also developing a simple logic model to illustrate the impact of NPM&G across a range of charitable and social outcomes. This will fully capture the benefits which will support funding applications, reports to existing funders and opportunities to showcase the work across the sector.
Page 9 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Reference and Administrative Details Charity Number 504870 Company Registration Number 01232182 Principal & Registered Office Tudor Road Manor Park, Runcorn WA7 1SX OurAdvisors Independent Examiner Giles Mattocks FCA Mattocks Grindley Ltd 18 Mulberry Avenue Turnstone Business Park Widnes WA8 OWN Bankers National Westminster Bank PIC 146 Widnes Road Widnes WA8 6BB Directors & Trustees The Directors of the charitable company are its Trustees for the purpose of charity law and throughout this report are collectively referred to as the Trustees. The Trustees who senied the charity during the year and since the year end were: Mr Dwayne Johnson Chair from 11 December 2023, Resigned 18 June 2024 Chair from 18 June 2024 Vice Chair MrsL nnPe ler DL Ms Moira Stevenson Cllr. John Abbott Sir Richard Brooke Cllr Christo her Carlin Mrs Ha Davies Ms Emil Harrison Ms Therese Kearne Mrs Eleanor Manson-swako Dr. Martin Morlid Cllr. Paul Nolan Vice Chair Resi ned on 18 June 2024
Page10 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 MrGu Thomas Trustees annotated with an asterisk were nominated by Halton Borough Council Senior Staff Museum CEO Senior Keeper Head Gardener Visitor Experien Manager Rob Sanderson-Thomas Lynn Smith Richard Newton Claire Broadhurst Structure, Governance and Management Governing Document Norton Priory Museum Trust Limited is a company limited by guarantee formed in 1975 and governed by its updated Articles of Association dated 25th April 2017. In the event of the company being wound up, members are required to contribute an amount not exceeding £1. The Trust is registered as a charity with the Charity Commission with the objects of preseniing, restoring and improving the buildings, features, objects and gardens on the historic site of Norton Priory in Runcorn. operating a museum interpreting the site and its history. and to support the preservation and management of other historic sites in the area for the benefit of the public. Recruitment and Appointment of Trustees In line with the Trust's Articles of Association, the Trustees are also the Company's Directors and the only members of the Company. Halton Borough Council, the Trust's major stakeholder and funder, have the right to nominate three Trustees as laid down in a funding agreement. With the exception of Halton Borough Council nominees, Board Members appointed after 25 April 2017 are appointed for a term of five years and may stand for re-election for a further term of five years. At this point a Board Member must retire, but after one year is able to be elected for a further, final term of five years. The Trust looks to enhance its skills base as need arises and apart from utilising known contacts will advertise vacancies on its website and make approaches to relevant organisations. No Trustee receives remuneration or other benefit, including expenses, from their work with the charity. Trustee Induction and Training New Trustees undergo an induction session with the Trust's Director and have an opportunity to meet the staff. A new induction pack has been produced to give new Trustees a broad picture of the charity and its work and this pack includes a role specification and code of conduct for the Board as well as the Charity Commission publication, 'The Essential Trustee,.
Page11 THE NORTON PRIORY MUSEUM TRUST LTD {Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 They are briefed on their legal duties under charity and company law, the content of the Articles of Association, the committee and decision-making prosseS and recent financial performance of the charity. Trustees are encouraged to attend events and training days which will help in the understanding and discharge of their roles. Trustees are also made aware of the Charity Commission's guidance on. the delivery of public benefit. Property Norton Priory is a scheduled monument incorporating the Grade I listed Priory Undercroft and is in the ownership of Halton Borough Council (Halton Council). The Trust holds a 30-year lease to 2041. The Trust reiVeS an annual grant from Halton Council to facilitate the running of the site. The Trust manages the Walled Garden site under a separate lease and management agreement which also runs to 2041 . The Trust receives each year the interest on an endowment held by Halton Council towards the site's maintenance. Professional support services for Halton Castle are provided for Halton Council under an annual service level agreement. Organisational Structure The Board of Trustees, specified by the Articles of Association as beeen 10 and 20 members, oversees the operation of the Charity. The Board meets at least quarterly and there are sub-committees covering Personnel and Finance & Strategy and particular projects for the life of that project. The Senior Management Team have authority, within terms of delegation approved by the Trustees, for operational matters including finance, employment and professional activities related to the scheduled sites. Related Parties and co-operation with other organisations The Trust has a close relationship with Halton Borough Council, its main funder and the owner of the site, as evidenced by the presence of three Council nominees on the Board of Trustees. The Trust also works closely with the national and regional museums and heritage sector, especially National Museums Liverpool and Historic England, who support the Trust's work with advice, loans and scheduled monument consent. Research projects typically engage a number of universities each year and there are particularly close and ongoing collaborations with the universities of Liverpool John Moores, Liverpool and Nottingham. The Trust has on-going partnerships with local and national bodies including the Woodland Trust, who manage woodland adjoining the scheduled site and Halton Heritage Partnership, a collective of independent groups who act together as custodians of the borough's heritage.
Page 12 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 The Trust has also excellent links with many local Halton schools, colleges, educational and community groups. The Trust works in partnership with groups and organisations including The Bluecoat in Liverpool, Cultivate, and A Place for Us CIC. Employee Matters The Trust operates a performance management system for all staff, linked to the Business Plan, with appraisal and review meetings taking place each year. The starting salary for senior staff is recommended to the Trustees by the Personnel Sub-committee. The pay policy for all staff is reviewed by the Personnel Sub- Committee and recommendations made to the Trustees. Any Local Government pay award for Administrative, Professional and Technical staff implemented by Halton Council is taken into account when deciding on the level of pay review, as well as changes in minimum wage, cost of living, sector benchmarks, and above all, affordability to the Trust. Risk Management The Board has approved a risk management framework setting out the main financial and business risks facing the Trust and matching the controls in place to mitigate those risks. The major risk currently facing the Trust is failure to generate sufficient income to maintain its operation. Trustee responsibilities relating to the financial statements The Trustees are required by UK Company Law to prepare financial statements for each financial year that give a true and fair view of the state of affairs of the Company as at the end of the financial year and of the net incoming or outgoing resources of the Company for the period. In preparing these financial statements, the Trustees have: selected suitable accounting policies and applied them consistently. made sound judgements and estimates that are reasonable and prudent; followed applicable accounting standards; and prepared the financial statements on a going COnrnS basis. The Trustees are responsible for maintaining adequate accounting records which disclose with reasonable accuracy at any time the financial position of the Trust and enables them to ensure that financial statements comply with the Companies Acts. The Trustees are also responsible for ensuring that there are sufficient internal controls to safeguard the assets of the Company and for taking reasonable steps for prevention and detection of fraud and other irregularities.
Page 13 THE NORTON PRIORY MUSEUM TRUST LTD (Limited by Guarantee) TRUSTEES ANNUAL REPORT YEAR ENDED 31 MARCH 2025 Statement as to disclosure to our Independent Examiners Each of the persons who is a trustee at the date of approval of this report confirms that: so far as each trustee is aware, there is no relevant audit information of which the charity's independent examiner is unaware. and each trustee has taken all steps that they ought to have taken as a trustee to make themselves aware of any relevant audit information and to establish that the charity's independent examiner is aware of that information. This report was approved by the Trustees at the Annual General Meeting on 9 Dernber 2025. Signed on behalf of the Trustees: YL P¥Qc Lynn Pegler DL (Chair of Trustees) 9 December 2025
Page 14 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE NORTON PRIORY MUSEUM TRUST LTD YEAR ENDED 31 MARCH 2025 I report to the directors on my examination of the financial statements of The Norton Priory Museum Trust ('the charity,) for the year ended 31 March 2025. Responsibilities and basis of report As the trustees of the company (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 ('the 2006 Act,). Having satisfied myself that the accounts of the company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act,). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. Independent examiner's statement Since the charity's gross income exeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that l am qualified to undertake the examination because l am a member of the Institute of Chartered Accountants in England and Wales (ICAEW), which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: accounting records were not kept in respect of the charity as required by section 386 of the 2006 Act, or 2. the financial statements do not accord with those records. or 3. the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair, view which is not a matter considered as part of an independent examination. or the financial statements have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102).
Page 15 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) INDEPENDENT EXAMINER'S REPORT TO THE MEMBERS OF THE NORTON PRIORY MUSEUM TRUST LTD YEAR ENDED 31 MARCH 2025 I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. Mr G Mattocks FCA Independent Examiner MAThOCKS GRINDLEY LTD Chartered Accountants 18 Mulberry Avenue Turnstone Business Park Widnes Cheshire WA8 OWN q December 2025
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THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
FOR YEAR ENDED 31 MARCH 2025
| Unrestricted Restricted | Unrestricted Restricted | Total Funds | Total Funds | ||
|---|---|---|---|---|---|
| Note | Funds | Funds | 2025 | 2024 | |
| £ | £ | £ | £ | ||
| Income from: | |||||
| Donations and grants | 2 | 2,942 | 146,545 | 149,487 | 209,281 |
| Charitable activities | 3 | 427,958 | 427,958 | 392,413 | |
| Other trading activities | 4 | 156,723 | 156,723 | 92,690 | |
| Total income | 587,623 | 146,545 | 734,168 | 694,384 | |
| Expenditure on: | |||||
| Raising funds | 5 | 119,018 | 10,983 | 130,001 | 111,500 |
| Charitable activities | 6 | 507,842 | 59,971 | 567,813 | 603,883 |
| Total expenditure | 626,860 | 70,954 | 697,814 | 715,383 | |
| Net incomeI(expenditure) | 8 | (39,237) | 75,591 | 36,354 | (20,999) |
| Transfers between Funds | 21 | 89,785 | (89,785) | ||
| Other recognised gains / losses | |||||
| Remeasurement surplus/ (deficit) on defined benefit pension scheme |
10 | 221,000 | 221,000 | 110,000 | |
| NET MOVEMENT IN FUNDS | 271,548 | (14,194) | 257,354 | 89,001 | |
| RECONCILIATION OF FUNDS | |||||
| Fund Balances brought forward | 1,339,970 | 60,460 | 1,400,430 | 1,311,429 | |
| Total Funds carried forward | 1,611,518 | 46,266 | 1,657,784 | 1,400,430 |
The Statement of Financial Activities includes all gains and losses recognised in the year. All income and expenditure were derived from continuing activities.
- of The Notes on Pages 18 31 form part these Financial Statements
. . ,- '
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THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee)
BALANCE SHEET
AS AT 31 MARCH 2025
| Notes | 2025 | 2024 | ||
|---|---|---|---|---|
| £ £ |
£ | £ | ||
| Fixed assets | ||||
| Tangible assets | 14 | 160,615 | 164,663 | |
| Current assets | ||||
| Stocks | 15 | 13,156 | 11,489 | |
| Debtors | 16 | 56,707 | 79,748 | |
| Cash at bank and in hand | 17 | 273,366 | 255,488 | |
| Total current assets | 343,229 | 346,725 | ||
| Liabilities: | ||||
| Creditors: Amounts falling due within one year |
18 | (93,060) | (85,958) | |
| Net current assets | 250,170 | 260,767 | ||
| Net assets excluding pension liability | 410,784 | 425,430 | ||
| Defined benefit pension scheme asset_I_ (liability) |
10 | 1,247,000 | 975,000 | |
| Total net assets | 22 | 1,657,784 | 1,400,430 | |
| The funds of the charity: | ||||
| Restricted income funds | 19 | 46,265 | 60,460 | |
| Unrestricted funds: | ||||
| Designated funds | 20 | 144,041 | 149,608 | |
| Pension reserve | 20 | 1,247,000 | 975,000 | |
| General reserve | 20 | 220,478 | 215,362 | |
| Total unrestricted funds | 1,611,519 | 1,339,970 | ||
| Total charity funds | 1657,784 | 1,400,430 |
For the year ending 31 March 2025 the charity was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Trustees' responsibilities:
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
These financial statements were approved by the Trustees and authorised for issue on Ya 9 December 2025 and are signed on behalf of the Board by: Ror
Lynn Pegler DL (Chair of Trustees)
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THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee)
STATEMENT OF CASH FLOWS FOR YEAR ENDED 31 MARCH 2025
| Previous | ||
|---|---|---|
| Total | Year | |
| Funds | Funds | |
| £ | £ | |
| Cash flows from operating activities: Net cash provided by (used in) operating activities (See Note 23) |
20,878 | (134,954) |
| Cash flows from investing activities | ||
| Purchase of Fixed Assets | (3,000) | (7,140) |
| Net cash provided by (used in) investing activities | (3,000) | (7,140) |
| Change in cash and cash equivalents in reporting period |
17,878 | (142,094) |
| Cash and cash equivalents at beginning of reporting period |
255,488 | 397,582 |
| Cash and cash equivalents at end of reporting period |
273,366 | 255,488 |
Page 19 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 ACCOUNTING POLICIES The principal accounting policies of the Trust are set out below. These policies have been applied consistently throughout the year. Basis of preparation The financial statements have been prepared in accordance with the Charities Statement of Recommended Practice (SORP) (FRS102) second edition issued in October 2019, the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2015), and the Companies Act 2006. The Trust meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy note(s). Income recognition Items of income are recognised and included in the accounts when all of the following criteria are met- the charity has entitlement to the funds,. any performance conditions attached to the item(s) of income have been met or are fully within the control of the charity., there is sufficient certainty that receipt of the income is considered probable., and the amount can be measured reliably. Income reiVed in advance of weddings or group bookings is deferred until the criteria for income recognition are met. For legacies, entitlement is taken as the earlier of the date on which either.. the charity is aware that probate has been granted, the estate has been finalised and notification has been made by the executor(s) to the Trust that a distribution will be made, or when a distribution is received from the estate. Receipt of a legacy, in whole or in part, is only considered probable when the amount can be measured reliably and the charity has been notified of the executor's intention to make a distribution. Where legacies have been notified to the charity, or the charity is aware of the granting of probate, and the criteria for income recognition have not been met. then the legacy is a treated as a contingent asset and disclosed if material. Expenditure recognition Expenditure is recognised once there is a legal or constructive obligation to make a payment to a third party, it is probable that settlement will be required and the amount of the obligation can be measured reliably. Expenditure is classified under the following activity headings.. Costs of raising funds comprise costs associated with the shop, marketing and publicity costs, and their associated support costs. Charitable activities comprise those costs incurred by the charity in the delivery of its activities and services. It includes both costs that can be directly attributed to such activities and those costs of an indirect nature necessary to support them. All costs are allocated between activities on a basis consistent with the use of the resources.
Page 20 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Allocation of support costs Support costs are those functions that assist the work of the charity but do not directly undertake charitable activities. They include finance and administrative costs, communication costs and governance costs which support the Trust's activities. These costs have been allocated between cost of raising funds and expenditure on charitable activities. The bases on which support costs have been allocated are set out in the notes to the accounts. Pensions The Trust contributes to a defined benefit pension scheme, with pension contributions being paid to the Cheshire Pension Fund in accordance with the recommendations of the actuary. The scheme is funded, with the assets of the scheme administered by trustees appointed by the Fund and held separately from those of the Trust. The Trust fully adopted FRS17 for the accounting treatment of retirement benefits for the first time in the year ended 31 March 2006. The effect of this change was to recognise pension scheme deficits and surpluses in the Trust's balance sheet. The difference between current service costs and the Trust contributions plus net return on assets is charged or credited to expenditure in the statement of Financial Activities. Actuarial gains and losses are recognised in the Statement of Financial Activities after Net Income/Expenditure for the year. The resulting defined pension scheme surplus or liability is stated in the Trust accounts after Net Current Assets on the Balance Sheet. Actuarial valuations of the pension scheme are obtained triennially and updated at 315t March each year. Fixed Assets Tangible fixed assets are stated at cost less accumulated depreciation. Only individual items costing in excess of £2,500 are normally capitalised. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows: Motor Vehicles 10 years Furniture and Equipment 5 - 30 years depending on life of asset No depreciation is provided on the 16 C Flemish cabinet as Trustees consider that it will hold its value. Where fixed assets are funded by grants or donations and capitalised in accordance with the Trust's accounting policies, the corresponding gain is recognised as income in the Statement of Financial Activities in accordance with FRS102. A designated reserve is also created against which the annual depreciation charges are transferred. Costs incurred on the Museum reconstruction (with the exception of furniture & equipment) have not been capitalised as almost all the expenditure was incurred by the freeholder, Halton Council, and the property is included in their accounts. Current Assets Stock is represented by non-consumable and consumable items for resale which are stated at the lower of cost and net realisable value, after making allowance for slow moving and obsolete items.
Page 21 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Trade and other debtors are recognised at the settlement amount due after any trade discount offered. Prepayments are valued at the amount prepaid after taking account of any trade discounts due. The Trustees have the power to invest in such assets as they see fit subject nevertheless to such conditions and consents as may for the time being be imposed or required by law. Surplus funds have been deposited with Banks and Building Societies in accordance with the Trust's approved investment policy. Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due. Fund structure The Trust's funds are split as follows.. Unrestrictedfunds- these funds are available to spend on activities that further any of the purposes of charity. They include the General Reserve which provides for future working capital and helps to protect the Trust against any unexpected expenditure. Designated funds - these are unrestricted funds of the charity which the Trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds - these are donations or grants which the donor has specified are to be solely used for particular areas of the Trust's work, or where funds have been raised by the Trustees for a particular purpose. Further explanation of the nature and purpose of each fund is included in the notes to the financial statements. Income from donations and grants 2025 2024 Restricted.. Donations and sponsorship Grants 5,000 141,545 6,111 194,437 Unrestricted.. Donations 2,942 8,434 299 Grants 149,487 209,281 The Trust benefits enormously from the involvement and enthusiastic support of its volunteers. In accordance with FRS102 and the Charities SORP (FRS102), the economic contribution of general volunteers is not recognised in the Accounts.
Page 22 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2025 2024 Income from charitable activities Admission charges including gift aid Support from Local Authority Other income 208,606 188,390 30,962 182,391 188,516 21,506 427,958 392,413 All the above was Unrestricted income. Income from other trading activities Shop sales Rents and service charges Other income 43,403 49,961 63,359 37,566 22,057 33,067 156,723 92,690 Income from trading is all Unrestricted income and consists entirely of sales made in the United Kingdom. Expenditure on raising funds Cost of shop stock sold Advertising costs Staff and administrative costs 19,843 14,592 95,566 15,631 15,514 80,355 130,001 111,500
Page 23 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Analysis of charitable activities 2024125 li staff costs Buildings Grounds 79,499 12,146 86,731 85,017 51,635 12,145 29,595 217,865 109,308 29,595 98,216 31,239 7,048 58,698 15,844 567,813 Activities Administration Depreciation Support costs (Note 7) Governance costs (Note 7) Totals 2025 83,987 10,187 14,229 14,035 6,524 23,367 6,308 236,211 7,017 524 21,419 5,781 213,019 13,912 3,755 118,583 The Staff Costs above include a credit of £51,000 in respect of an FRS 17 pension adjustment. 2023124 Staff costs 82,229 11,736 82,747 82,150 69,499 11,736 31,185 234,475 105,622 31,185 112,335 40,935 6,091 58,864 14,376 603,883 Buildings Grounds Activities 88,848 13,733 23,487 18,135 5,567 20,773 5,073 237,932 Administration Depreciation Support costs (Note 7) Governance costs (Note 7) Totsls 2024 9,067 524 17,448 4,261 143,720 20,643 5,042 222,231 The Staff Costs above include £36,000 credit in respect of an FRS 17 pension adjustment. The above analyses include both Restricted and Unrestricted Funds.
Page 24 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Analysis of support costs & governance costs 2024125 Staff costs Time 42,986 10,556 53,542 16,636 Printing & communications Independent Examiner fees Other Trust costs Usage Governance 15,712 924 3,698 3,698 Governance 666 666 Totals 2025 58,698 15,844 74,542 2023124 li li Staff costs Time 45,489 10,115 787 55,604 14,162 Printing & communications Independent Examiner fees Other Trust costs Usage Governance 13,375 2,760 714 2,760 714 Governance Totals 2024 58,864 14,376 73,240 2025 2024 Net income l expenditure for year This is stated after charging". Depreciation I nterest payable 7,048 6,091 Auditor's remuneration as Independent Examiner Trust accounts 2,790 630 2,540 Grant claim
Page 25 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2025 2024 Analysis of staff costs The aggregate staff costs were: Directly employed: Gross salaries 308,218 292,572 Social security costs 16,150 16,647 Other pension costs 10,076 23,365 Consultancy charges 5,130 Travel, training and recruitment costs 5,825 6,250 340,269 343,964 The Other pension Costs include a credit of £51,000 (£36,000 credit in 2023124) in respect of an FRS 17 pension adjustment. Particulars of employees: No. No. Average number of staff (full time equivalents) during the year Number of staff to whom retirement benefits are accruing under defined benefit scheme 11 10 13 13 Number of employees with employee benefits (excluding employer pension costs) above £60,000 None None
Page 26 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 10. Retirement benefits The Trust participates in the Cheshire Pension Fund, which is a funded defined benefit pension scheme administered in accordance with the Local Government Pension Scheme Regulations 2013 and Amendment Regulations 2015-20. The scheme provides pensions and other retirement benefits for employees based upon final salaries. The annual funding costs of these pensions is based on triennial actuarial valuations, with the costs being financed by contributions from both the Trust and staff. The last formal valuation of the Fund for the purpose of setting employers, contributions was as at 31 March 2025, with the next formal valuation due as at 31 March 2028. The Trust paid contributions at the rate of 22.9 % during the year ended 31 March 2025 inclusive of 1.25 % in respect of ill-health insurance contributions. For the three years from 1st April 2023, the rate is unchanged. The employee's contribution is between 5.5Q/o and 6.80/0 of pensionable pay dependant on annual remuneration. For these Accounts, the aGtuary has valued the Pension Scheme in accordance with FRS102. The major financial assumptions used by the actuary are as follows". Year ended." 31 March 2025 31 March 2024 Nominal % per annum Pension increase rate 2.75 /0 Salary increase rate Discount rate 3.450/. Major categories of plan assets as percentage of total plan assets Year ended: 31 March 2025 31 March 2024 Equities Bonds 49% 38% Property Cash 1%
Page 27 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Changes in the Fair Value of Plan Assets, Defined Benefit Obligation and Net Liability - Year ended 31 March 2025 Assets Obligations Net {liability) lasset £'ooo £'ooo £'ooo Fair value of plan assets Present value of funded liabilities 2,613 2,613 {1,638) 975 1,638 1,638 Opening position as at 31 March 2024 2,613 Current service cost 58 (58) Net Interest: Interest income on plan assets Interest cost on defined benefit obligation Totsl net interest 128 128 80 (80} 48 128 80 Total defined benefit cost recognised in SOFA 128 138 (10) Cashflows.. Plan participants contributions Employer contributions Benefits paid Expected closing position 17 17 61 61 (40) 2,779 (40) 1,753 1,026 Remeasurements". Changes in demographic assumptions Changes in financial assumptions Other experience Return on assets excluding net interest Total remeasurements recognised in Other Recognised Gains l (Losses) (3) (291) (14) 291 14 (87) {87) (87) {308) 221 Fair value of plan assets Present value of funded liabilities 2,692 2,692 (1,445) 1,247 1,445 Closing position as at 31 March 2025 2,692 1,445
Page 28 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 Changes in the Fair Value of Plan Assets, Defined Benefit Obligation and Net Liability - Year ended 31 March 2024 Assets Obligations Net (liability) lasset £'ooo £'ooo £'ooo Fair value of plan assets Present value of funded liabilities 2,470 2,470 (1,641) 829 1,641 1,641 Opening position as at 31 March 2023 2,470 Current service cost 60 (60) Net I nterest.. Interest income on plan assets Interest cost on defined benefit obligation Total net interest 117 117 78 (78) 39 117 78 Total defined benefit cost recognised in SOFA 117 138 (21) Cashflows: Plan participants contributions Employer contributions Benefits paid Expected closing position 16 16 57 57 (84) 2,576 (84) 1,711 865 Remeasurements: Changes in demographic assumptions Changes in financial assumptions Other experience Return on assets excluding net interest Total remeasurements recognised In Other Recognised Gains l (Losses) (9) (111) 47 111 (47) 37 37 37 (73) 110 Fair value of plan assets Present value of funded liabilities 2,613 2,613 (1,638) 1,638 Closing position as at 31 March 2024 2,613 1,638 975
Page 29 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 11 Trustees, emoluments and benefits No Trustee was paid any remuneration or expenses by the Trust in the year (2023124- Nil). No Trustee or other person related to the charity had any personal interest in any contract or transaction entered into by the charity during the year (2023124 - Nil). 12. Related party transactions The charity has close working relationships with Halton Borough Council, which nominates up to three trustees and provides annual funding to assist the charity to carry out its charitable objectives. The following is a summary of transactions with the Council. 2025 2024 Revenue funding received to operate museum and walled garden Custodian support grant for Halton Castle 183,390 183,516 5,000 5,000 13. Taxation There will be no liability for corporation tax owing to the Company's charitable status. No tax is paid on interest re1Vable. The Trust's Value Added Tax recovery status is 'Partially Exempt.. 14. Tangible fixed assets Furniture & Fittings Motor Vehicles Equipment Total COST At 1 April 2024 Additions in Year 194,109 3,000 197,109 17,533 91,446 303,088 3,000 306,088 At 31 March 2025 17,533 91,446 DEPRECIATION At 1 April 2024 Charge for year At 31 March 2025 336,344 6,149 14,385 524 87,696 375 138,425 7,048 342,493 14,909 88,071 145,473 NET BOOKVALUE At 31 March 2024 157,765 3,148 3,750 164,663 At 31 March 2025 154,616 2,624 3,375 160,615
Page 30 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 2025 2024 15. Stocks Retail stocks for resale 13,156 11,489 16. Debtors Trade debtors 41,057 20,921 57,412 1,415 79,748 Grants receivable other debtors 15,650 56,707 17. Cash at bank and in hand Bank deposits Current account 129,341 142,446 1,579 273,366 122,607 126,957 5,924 255,488 Paypal, Worldpay & floats 18. Creditors: Amounts falling due within one year Trade creditors Accruals and deferred income 3,688 89,372 93,060 5,615 80,343 85,958 19. Movement in Restricted funds 15 51111 1! 2024125 Projects Total 60,459 146,545 (70,954) (89,785) 60,459 146.545 (70,954) (89,785) 46,265 46,265 Previous year - 2023124 Projects Total 81,311 200,708 (161,583) (59,977) 81,311 200,708 {161,583) (59,977) 60,460 60,460
Page 31 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 oses of Restricted Funds These are grants and donations where the money is required to be spent on a specified purpose. 20. Movement in Unrestricted funds 2024125 Designated Funds.. Furn. & Equipment Reserves General Fund Pension ReseNe 149,608 (5,567) 215,362 587.623 (677,860) 95,352 975,000 51,000 1,339,970 587,623 {626,860) 89,785 144,041 220,477 221,000 1,247,000 221,000 1,611,518 Previous year - 2023124 Designated Funds." Furn. & Equipment Reserve General Fund Pension Reserve 155,175 (5,567) 149,608 245,942 493,676 (589,800) 65,544 215,362 829,000 36,000 110,000 975,000 1,230,117 493,676 (553,800) 59,977 110,000 1,339,970 Pur oses of Unrestricted Desi nated Funds Furniture and Equipment Reserves These reserves represent grant received for the acquisition of audio-visual equipment, facial reconstruction, light sculptures, display cases and a 16th C Flemish cabinet. A sum equivalent to the annual depreciation is transferred from these Reserves to the General Reserve each year. 21. Transfers between funds Depreciation on costs funded by grants transferred from the Designated Reserves to the General Fund (£5,567). Restricted Fund costs transferred from General Fund (£89,785).
Page 32 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) NOTES TO THE FINANCIAL STATEMENTS YEAR ENDED 31 MARCH 2025 22. Analysis of net assets between funds Restricted Designated General & Funds Funds Pension Reserves Total Year ended 31 March 2025 Tangible Fixed Assets Cash at Bank Other Net Current Assets Pension Surplus 144,041 16,574 227,101 (23,197) 1,247,000 144,041 1,467,478 160,615 273,366 (23,197) 1,247,000 1,657,784 46,265 46,265 Year ended 31 March 2024 Tangible Fixed Assets Investments and Cash at Bank Other Net Current Assets Pension Surplus 149,608 15,055 195,029 5,279 975,000 149,608 1,190,362 164,663 255,488 5,279 975,000 1,400,430 60.460 60,460 23. Reconciliation of net income l (expenditure) to net cash flow from operating activities 2025 2024 Net income l (expenditure) for the reporting period Add back: Depreciation charges Add back." Pension revaluation adjustments (Increase) / Decrease in stocks (Increase) l Decrease in debtors Increase / (Decrease) in creditors Net cash provided by (used in) operating activities 36,354 7,049 (51,000) (1,667) 23,040 7,102 20,878 {20,999) 6,091 (36,000) (515) (43,935) (39,596) (134,954) 24. Limited by Guarantee The Company is limited by guarantee of members and does not have a share capital. The liability of members is limited to £1.
Page 33 THE NORTON PRIORY MUSEUM TRUST (Limited by Guarantee) INCOME AND EXPENDITURE YEAR ENDED 31 MARCH 2025 2024125 General Restricted Fund Funds 2023124 Total Total INCOME Admissions (including Gift Aid) Shop sales Rents receivable 208,606 43,403 208,606 182,391 43,403 37,566 4g,961 49,961 22,057 Operating support Grants 188,390 188,390 188,516 141,545 141,545 194,736 Donations and other income 97,263 5,000 102,263 69,118 Total Income 587,623 146,545 734,168 694,384 EXPENDITURE Staff costs 390,636 633 391,270 374,834 Consultancy fees Building costs Grounds maintenance 5,130 121,453 121,453 29,595 14,592 19,236 107,200 117,358 27,213 2,382 31,185 Marketing and publicity Furniture & equipment Activity costs Administrative costs 13.286 1,306 2,278 15,514 16,958 27,642 43,055 64,145 119,967 18,010 19,843 209 18,219 15,735 Shop - Cost of sales Other costs 19,843 21,839 15,631 21,839 17,464 Total Expenditure 672,293 70,954 743,247 745,816 Transfers between Funds 89,785 (89,785) Adjusted Surplus for year See note 5,115 {14,194) (9,079) {51,432} Note: This statement excludes the FRS pension revaluation adjustment of £51,OOOcr (£36,OOOdr in 2023124) and Depreciation funded from Reserves of £5,567 (£5,567 in 2023124). This Page does not fonn part of the Independently Examined Financial Statements