REGISTERED COMPANY NUMBER: 02402198 (England and Wales) REGISTERED CHARITY NUMBER: 702067 Report ol the Trustee5 and Flnanclal Statements lor the Year Ended 31 December 2024 Eyam Museum ilmlled Landin Wilcock & Co statutory Auditor 68 Queen Street Sheffield south Ykshire SI IWR
Eyam Museum Umlled Contenls of the Flnanclal Slalemenls for the Year Ended 31 December 2024 Page ReprATr oflhe Trustees Report of the Independent Audllors statement of Flnonclal AcllvHle5 Balance Sheet Notes to the Hnanclal Statements 12 to 23
yam Museum Ilmlted (Reglstered number: 02402198) Report of the Truslees for Ihe Yeai Ended 31 December 2024 The tnjstrees who are also director5 of Ihe chaTlty for the purposes of the Companies Act 2006, present their report with the financial statements ol the charity for the year ended 31 December 2024. The trustees hove adopted the provisions of Accounting and Reporting by Charities.. Statement of Recommended Practice applicoble to chorilies weparing their occount5 in accordonce wth the Finonciol Repcrting Standard applicable in the UK and Republic of Irelond IFRS 1021 leflective l January 20191. PURPOSE The Charity is established in the educalion of members of the generol public by the collection, pregervotion and display ol every kind and information concerning the social, industriol ond geological history and environment of the Village of Eyam in Derbyshire including the exhibition and explonation of such collection of objects and information ond the housing of every kind of printed material and manuscripts as may be donated or looned to the Company and the provision of ancillary services including o gift shop for the benefit of such members of the general public. Our vlsion To inspire people through the big story of ovr Small village and to share new ond as yet untold stories with everybody. Our mission Our mission is to present the history of Eyam and it5 people in ways that are educationol, informolive and enjoyable. with particular locus on the inspiring stC4y of Eyom Plague 11665-16661. We aim to reach o broad and diverse audience, catering for varying visitor requiremenls in occessing our displays and exhibitions, and to provide resource5 and focilities for education and research. To achieve this. we will apply the hlghest stondards of curatorial care ond museum management, acting as o role model for museums of our scale. Our values We aspire to: Share our collection In an inclusive and inspirotional manner - Tell the unique story of Eyam in an engaging and educational way Follow best practice in all aspects ol our orgoni50tion Behave tronsporently, consistently and respectfully in oll our inleractions OBJECTIVES AND ACTIVITIES Oblectlyes and alms The objectives of the charily are to develop and maintoin the museum in Eyam to house and exhibil the Daniels Collection We plan to meet our objectives by continuing to Taise awareness of the plogue of 166511666 10 increase Sitor numbers. The company's subsidiory undertaking, Eyom Museum Trading Limited, is responsible f(Y the running of Ihe museum gift shop. We have referred to the guidance contained in the Chority Commission's general guidance on public benefit when reviewing our aims and objectives and in planning our future aclivities. Pvblic benelll The Trustees confirm that they have complied wth the requirements of section 4 of Ihe Charities Act 2011 to have due regard to the public benefit guidance published by the Chorty Commission for England and Wales. Volurrteers l Tru5tee5 are volunteers and give their time and expertise to the charity without recompense. Travel and subsistence expenses are reimbursed where nece55arily incurred. Page I
yam Musevm Limited (Registwed number: 02402198) Report of the Trvstees for the Year Ended 31 December 2024 FINANCIAL REVIEW FiTroncial posltton 2024 saw a very strong growth in visitor numbers and admissions income over previous years. The Charity's net Sufplus for the period excluding the property revaluation was £25.94412023- surplus of £8,510). Princlpal funding sources Currently. the principal funding source for the company is admission sales. Expenditure is in respect of the maintenance of the museum to meet the objectives of the charity. No Ivnding ha5 been received from public source5 Other than appropriate grant5 to fund specific projects. Inveslment poltcy and obJecllves Under the Articles of Association, the charty has the power to moke any investment that the Truslee5 see fit. The Trustees have taken a prudent approach to Ihiq and any suyplus fund5 have been invested in high intere51 eorning bank occounts m05t of which ore covered by the UK Government Financial Service5 Compensation Scheme. Reserves polcy The Trustees hove e5tab115hed the level of reserves that the charsty ought to have Ithot is Ihose funds thal are free avoiloblel. Reserves ore needed to bridge the gap beeen expenditure on management and odmini5tration and receiving income from gron15 and odmissions. The actual reserves at 31 December 2024 were %343.90512023'. £325.3431 which w05 £243.905 above OUT lorget figure of £lOO,O( for 2024. Thi5 torget represenled one yearfs normal operating expenses with the remainder occrving to fund Ihe museum's charitable objectives ol improving the experience for wsitor5 05 outlined in the 5trateglc plan. Taking note of the budget for 2025, Ihi5 figure will need to be reviewed. Golng concern The chority has continued to thrive in 2024 wilh increased visitor numbers. admission revenues and shop soles. Overall visitor numbers in 2024 were 35,068 compored to 33,503 in 2023 included wlthin these numbers were children in school groups where the regpectwe figures were 3,760 in 2024 and 3.184 In 2023 Two speciol exhibitions were mounted during Ihe year. the fitst highlighting items from Ihe collection thal had not been previously displayed and the second to commemorate the 30th anniversary of the founding of the museum. Eyam's 2024 Wells Dressing also commemorated Ihi5 cnniversary with a well, designed and created by Rachael Dawson. the museum's Retail Monager. The museum was unconditionally reaccredited by Art5 Covncil Englond in March 2024. recognising on orgonisalion that is lully compliant with oll sector standard5 and requirements. The museum's part time Manoger left in June 2024 to emigrate to Australia. In line with the mu5evm's conlinued development and profe55ionali5m, a new full-lime manager wth considerable heritage sector experience was recruited a5 a replacement. joining Ihe staff in FebnJary 2025. In late 2024, consultants were hired to conduct a National Lottery Heritage Fund funded project to investigate options for the museum'5 future development. This exFensive piece of work. to be completed in June 2025 wll report on - Developing and diversifying the museum's audiences Updating and enhancing the interpretation slrotegy Optimising the business model. including admi55ion5 income. retail and fundraising Improving the building and focilitie5 The chority continued to SUPPOrt its subsidiary. Eyom Museum Troding Limited. which had negolive reswes in 2023. However. owing to increased turnover and profilobility in both 2023 ond 2024, the trading company was able to pay off the debt owed to the museum in November 2024. Page 2
Eyam Museum Limited {Registwed number: 02402198) Report of the Trustees for the Year Ended 31 December 2024 FUTURE PLANS Aims and key obJe¢tlve5 for future perfods As described in the Forward Plan section of our Reaccredilalion Application, our objectives for the next five yeors fall under the following heodings.. strategic Development Objectives: Maintaining and developing our audiences ImFNoving our facilitie5 Improving inlerpretotion Collections t)evelopment Objectives.. Mcking best use of our collection5 Finding and presenting new stories Enabling Objectives.. Developing collgborotion5 Developing sources of income generation - Contributing to understanding the history of the plague The Options Project, outlined above, repre5ent5 a 5ignificont first step in elaborating and quantifying these objective5. The charity intends to determine the best way forward and implement thi5 over the coming years. STRUCTURE. GOVERNANCE AND MANAGEMENT Govemlng document The chorily is controlled by its governing documents. the Articles of A550ciation adopted in July 2016. ond conslitutes a company, limited by guarantee, as defined by the Companies Act 2006. Changes in Trustees and Offlcer5 during 2024 were as follows -. March 2024- Phillipa Willioms resigned a5 a Trustee - March 2024- Paul Brocey, Noomi Rees, and Amy Ryall were appointed as Trustees - June 2024- Rosemary Wise resigned as Museum Manager and Company Secretary - June 2024 - Owen Roberts was appointed as Compony Secretary August 2024- Catherine Row50n resigned as o Trvstee and Treasurer ol Eyam Museum Limited. and Director and Treasurer of Eyom Museum Trading Limited August 2024 - Peter Silley was appointed os a Tnjstee and Treosurer of Eyam Museum Limited and Director and Treasurer of Eyom Museum Trading Limiled. Iln February 2D25. Peter Silley resigned from both companies). All Trustees ahead of appointment are i55ued with documents which outline their responsibilities within ond to the charity. Organi5allonal struclure The Trustees review and monitor rnanagement accounts and operational issues ot a monthly management committee meeting. Not all member5 of Ihe management committee are Trustees. The Trustee5. 05 Directors. meet formally every quarter and determine strotegy accordingly. As of February 2025, the charify has a full-time Museum Manager, and Asslstont Mcnager. Additionally. the Retail Manager and Curalor both work part-time and ore responsible for the day to day running of the opallonS of the museum and shop. They are supported by a qualified accountont on a part time basis. CuThent staffing represents 3.2 tull time equivalent5. Volunteer5 ore an integral ond vital part of the museum. Most visitor welcome p051tions are token by volunteers. svpported by part-time seasonal employees if required. Volunteers also lead pald walk5 around the histcfic sites of the village and contribute to the curatorial, research and odministrative task5. Page 3
Eyam Museum Limited (Registered number: 02402198) Report ol the Trustees for the Year Ended 31 December 2024 STRUCTURE, GOVEiINANCE AND MANAGEMENT Related partie5 Franclne Cllfford Francine Clifford is o Trustee ol Eyam Museum Limited and a Director of Eyom Museum Troding Limiled. A summary of the transactions Wth this party is sel oul in the notes to the Financial Statement5. R15k management Flnanclal Inslwments Objectives and policie5 The chaTity'5 activities expose it to a number of finonciol risks including credit risk, cash flow risk and liquidily risk. Credil rlsk The charity's principal finonciol ossels are bonk bolances ond cosh. Irade and other receivables ond investments. The charitvs credit risk is primarily attributoble to its trade receivables, which mainly con5i5t of poymenl for school Vlsits. The amount5 presented in the balance sheel are nel ol allowances for doubtful receivable5. An ollowance for impairment is made where there is an identified10ss event which, based on previou5 experience, 15 evidence of o reduction in the recoverability of the cash flows. The credit risk on liquid funds and derivotive finoncial instwments is limited because the counter partie5 are banks with high ciedit-ratings assigned by intemalional credit-raling agencies. The charity has no significant concentration of credit risk, with exposure spread over a number of counter parties and cu5tomer5. REFERENCE AND ADMINISTRATIVE DeTAILS Reglslered Company number 02402198 IEngland and Wale51 Reglstered Charlly number 702067 Reglslered offlce Hawkhill Road Eyom Hope Valley DeTby5hire 532 5QP Twstees Mrs F M P Clifford Mr J Thompstone Mt5 P Tofield Williams Iresigned 20.3.241 Mrs C A Rawson Ire5igned 23.8.241 Mr R L Cootes Mr I Smith Mrs C A Mealing Dr P E Bracey (appointed 20.3.241 Ms N Rees lappointed 20.3.241 M5 A Ryoll lappointed 20.3.241 Dr P Silley loppointed 5.8.241 |re5igned 8.2.251 Cornpany Secretary Mr O Roberts Page 4
Eyam Museum Limited (Registered number: 02402198) Report of the Trvstees tor the Year Ended 31 December 2024 REFERENCE AND ADMINISTRATIVE DETAILS Audltors Landin Wilcock & Co statulory Auditor 68 Queen Street Sheffield South Yorkshire SI IWR STATEMENT OF TRUSTEE5' RESPONSIBILITIES The ttUStees (who are also the directors of Eyam Museum Limited for the purpose5 of compony lowl are responsible for preparing the Report of the TnJste&s and the finonciol 5totements in accordance with opplicoble law and United Kingdom Accounting Standard5 Iunrfed Kingdom Generally Accepted Accounting Practice). Compony law requires the trLJStee5 to prepore financial statements for each ftnoncial yeor which give o tnJe and fair view of the state of affairs of the charitoble company and of the incoming resources ond oppllcation of resources, including the income and expenditure, of the charilable company for that period. In preporing those financial statement5, the trustees are required to select suitable accounting policie5 and then opply them consistently", obserye the methods ond principle5 in Ihe Charity 50RP,' make judgements and estimate5 that are reasonoble and prudent: Pfepare the financial statement5 on Ihe going concern basis unsS it is inappropriate to presume that the charitable company will continue in bu5ine55. The Irustees are responsible for keeping proper accounting records which disclose with reasonable accuracy ot any time the financial position of the charitable company ond to enable them to ensure that the financial statements comply with the Companies Act 2(X)6. They are also responsible for safeguarding the assets of the charitable company and hence for taking re050noble steps for the prevention and detection of fraud and other irregvlarities. In so far as the trustees are aware- there is no relevant audit inforrnation of which the charitable company's auditors are unaware.. and Ihe trustees have taken all step5 Ihal Ihey oughl lo have taken lo make themselves awore of ony relevant ovdil information and to establish Ihal the auditors are aware of that infomiation. Company law requires the trustees lo prepare financial slalements for each financSal year. Under company law the ID)Stees must not approve the finoncial statements unless Ihey are satisfied that they give a Irue and fair view ol the State ol affairs of the charitable company ond of its incoming resources and application of resource5. Approved by order of the board ol tnjslees on .......................................... .. and signed on its behalf by: Mr R L Coates- Trustee Page 5
Report of the Independent Audllors to the Trustees of yam Musevm Limiled Oplnlon We hove audited the financial Statements of Eyam Museum Limited (the 'choritoble compony'l for the year ended 31 December 2024 which comprise the Stolement ol Financial Activitie5, the Balcjnce Sheet and notes to the financial statements, including a summory of signiliconl accounting policie5. The financial reporting Iromework thol hos been applied in their preparation is applicable law and United Kingdom Accounting Standard5 (United Kingdom Generally Accepted Accounting Practice). In our opinion the financial statemenl5'. give o true and fair view of the stale of the chariloble companvs oflairs as ot 31 December 2024 ond of it5 incoming resources and application of resources, including its income and expenditure, for the year then ended: hove been propedy prepared ir) accordance with United Kingdom Generally Accepted Accounting Proctice.. and hove been prepared in accordance with the requirements of Ihe Companies Act 2006. Basls for oplnlon We conducted our audit in accordance with Intemational Standards on Auditing IUKI IISA5 IUKII ond applicable law. Our responsibilities under those standards are further described in the Auditor5, responsibilities for the audit of the financiol statements section ol our report. We are independent of the charitable company in accordance with the ethical requirement5 that are relevant to our audit of the financial 5talements In the UK. including the FRC'S Ethical Standard, and we have lullilled our other ethical respon5ibilitie5 in occordonce with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a bosis for our opinion. Conclu¥lons relatlng lo going concem In ouditing the finonciol 5totements. we have conclvded that the twstees. use ol the going concem basis of accounting in the preparation ol the tlnonciol stotements is oppropriate. Based on the work we have performed, we hove not identified ony malerial uncertointies reloling to events or conditions that, individually or collective. moy cosl significant doubl on the charitable compony's ability lo continue as a going concern for a period of at least efve months from when the financial statements are outhopised for issue. Our responsibilities and the responsibilities of the trustees with respect to going concern ole described in the relevant sections of this report. Olher Informallon The trustees are responsible for the other infomotion. The other information comprises the informolion included in the Annual Repth, other than the financiol stotements and our Report of the Independent Auditor5 thereon. Our opinion on the financial stalements does not cover the other information and. except to the extent otherwise explicitly stated in our report. we do not express any form of assurance conclusion thereon. In connection wth our audit of the financial statements. our responsibility 15 to read the other information and, in doing so, consider whether the other inlormalion is materially inconsistent with the finonciol statements or our knowledge obtained in the audit or otherwise appears lo be materially mis5toled. 11 we identify such material inconsistencies or apparent material misslatementg, we are required to determine whether thi5 give5 rise to a moteriol mi55tatement in the financiol 51olement5 themselves. If. based on the work we have performed. we conclude that there is a material misstatement of this other information, we ore required to report thot fact. We have nothing to report in this regard. Page 6
Report of the Independent Audltors to the Trustees of Eyam Mv$eum Limited Mallers on whlch we are requlred to report by excepllon We have nothing to report in respect of the following motters where the Chorities (Accounts ond Reports) Regulations 2008 requires us to report to you if. in our opinion: the information given in the Report of the Trustees is inconsistent in any moteriol respecl with the financiol stalements.. or the choritable company has not kept adequote occounting record5- or the financial 5tatement5 are not in agreement with Ihe accounting records and returns., or we have not received all the information ond explanations we require foi oui audit. Respon51bllilies of trustees As explained more fully in the Statement of Trustees. Responsibilities. the tfUStees (who are also the directors of the charitable company for the purposes of company lowl are responsible for the preparation ol the finoncial Statements and for being salislied that they give o ttue and fair view, and for such internal control as the trustees determine is necessary to enable the preparalion of financial statements that are free from material mis5talement. whether due lo fraud or error. In preparing the financiol statemer)15, the ttU5tees ore responsible for assessing the charitable company'5 ability to continue os a going concern, disclosing, a5 opplicable, mollers reloted to going concern and using the going concern basis of accounting unles5 the tIUslee5 either inlend to liquidate the charitable company or lo ce05e operations, or have no realistic alternollve bul to do so. Ovr responslbmllles for the audlt ol the flnanclal statements We hove been appointed os ouditors under Section 144 of the Charities Act 2011 and report in accordance with the Act and relevant regulations made or having effect therevnder. Our objectives ore to obtain reasonable a55vrance abovt whether the financial 5totement5 05 a whole are free from material m155tatement. whether due to fraud or error. and to issue a Report of the Independent Auditors that includes our opinion. Re050nable assurance is o high level of assurance, but 15 not a guarantee Ihat an audit conducted in accordance with ISA5 IUKI will always detect o moteriol misstatement when it exists. MisslatementS can 0ri5e from Iroud or error and are considered material rt, individually or in the aggregate. they could reosonably be expecled to influence the economic decisions of usets taken on the basis ol these financial statements. Thè extent to which our procedures are copoble of detecting irregulorities. including fraud is detailed below: minimal reliance wa5 placed upon the operating effectiveness of internal controls in the design and performance of our substantive procedures.. - discussions were held with monogement considering known or suspected non-compliance with law5, regulations ond fraud., joumal entries were reviewed for any enlries made outside the ordinary reporting proce55es wilh particular ernphasis on those with unusual account combinations. entrie5 crediting incorning resources and those without specific descriptions.. monagement assumptions in their signrficanl accounting estimates were challenged and scrutini5ed. There are inherent limitations in the audit procedures described obove. and the further removed non<ornplionce with lows and regulations is from the event5 ond transaclions reflecled in the financial statements, the less likely we would become awore ol it. A150. the risk ol nol detecting a material misstatement due to fraud 15 higher Ihon the risk of not detecting one TeSLJlting from eOr, as fraud may involve deliberate concealment by, for exomple, forgery or intentional misrepresentations, or through collusion. A further description of our responsibilities foF the oudit of the finoncial statement5 15 located on the Financial Reporting Council's website at www.Irc.org.uk/auditorsrespon5ibilities. This description forms part of Dui Report of the Independent Auditor5. Pa9e 7
Report ol the Independenl Auditors to the Truslees of Eyam Museum Ilmlled Use of our report This report is made solely to the charitable company's trustees, as a body. in accordance with Port 4 of the Chorities (Account5 and Reportsl Regulations 2008. Our oudit work has been undertaken so that we might state to the choritoble company'5 trustees those motters we are required to slate to thern in an auditors. report ond for no other purpose. To the fullest exlent permitled by low. we do not accept C assume responsibilily lo anyone other than the charitable company and the charitable companvs trustees as a body, for our audit Work. for Ihis report, or for the opinions we have formed. for and on behalf of Landin Wilcock & Co statutory Auditor Eligible to act as an auditor in terms ot Section 1212 of the Companies Act 2006 68 Queen Street Sheffleld Sovth Yorkshwe SI IWR Date: ............................................. Page 8
Eyam Museum Limited statement of Financlal Actlvltles (Incorporatlng an Income and Expenditure Account) for the Year Ended 310e¢ember 2024 2024 Total funds 2023 Total funds Unreslricted Re5tr1cted funds fund Notes INCOME AND ENDOWMENTS FROM Charltable acllvltles Exhibitions Donation5 and legacies other income 124,771 6.520 345 124.771 22.918 345 119,894 21,373 345 16,398 Investment income 10.918 10,918 5,147 Total 142.554 16,398 158.952 146,759 EXPENDuRE ON Raising funds 117,977 15.031 133,CX)8 137,972 Ch¢Jllable actlvlHes Donations and legacies 277 other Total 117,977 15,031 133,008 138,249 NET INCOME Transfers between fvnds Olher recogn15ed galnsl(losses) Gains on revaluation of fixed assets 24.577 16141 1,367 614 25.944 8.510 92.500 Net movemerrt In funds 23,963 1.981 25,944 101,010 RECONCILIATION OF FUNDS Total ftJnds brought forward 680.533 11,6591 678.874 577,864 TOTAL FUNDS CARRIED FORWARD 704,496 322 704.818 678.874 The notes fom part of these financial statements Page 9
yam Museum Limited (Reglslered number: 02402198) Balance Sheel 31 December 2024 2024 Total funds 2023 Total funds Unreslrlcted Restrfcled funds fund Notes HXED ASSETS Tangible assets Investments 10 360,911 360.911 353,529 360,913 360,913 353.531 CURRENT ASSEtS Debtors Cash at bank and in hand 9.649 346.718 135 22,566 9.784 369.284 21.647 310.989 13 356.367 22.701 379,068 332,636 CREDITORS Amounts folling due within one year 14 112.7841 122.3791 135,1631 17,2931 NET CURRENT ASSETS 343,583 322 343.905 325,343 TOTAL ASSETS LESS CURRENT LIABILITIE5 704.496 322 704.818 678.874 NET ASSETS 704,496 322 704,818 678.874 FUNDS Unrestricted funds Reslricted funds 16 704,496 322 680,533 1,6591 TOTAL FUNDS 704,818 678,874 The choritable company is entitled to exemption from audit under Section 477 of the Componie5 Act 2(KJ6 for Ihe yeor ended 31 December 2024. The members have not deposited notice, pursuant to Section 476 of the Companies Act 2LKJ6 requiring an audit of these financial statements. The trustees ocknowledge their re5pon5ibilities for lal ensuring thot the choritoble compony keeps accounting Tecords thot comply wth Sections 386 ond 387 of the Companie5 Act 2006 and preparing financial statements which give a Irue and fair view of the state of affair5 of the charitable company os ot the end of each financial year and of its surplus or deficit for each financial year in accordonce with the requirements of Seclions 394 and 395 ond which otherwise comply wth the requirement5 of the Componie5 Act 2006 relaFing to finoncial statement5, $0 for 0$ applicoble to the charilable company. These financial statements hove been audited under the requiTements of Section 145 of the Charilie5 Act 2011. The notes form part of these financial statements Page 10
Eyam Mvsevm Llmlted (Reglslered number: 02402198) Balunce Sheet - conllnued 31 December 2024 These finoncial statements have been prepared in occordance with the prov15ions applicable to charilable companie5 subject to the smoll c¢mpanle5 regSme. The financial statement5 were approved by the Board of Tnjstrees and authorised for issue on . and were signed on its beha by: Mr R L Cootes- Trustee The notes form part of these flnanci01 statements Pagell
Eyam Museum Limited Noles to the Financial Statèmenls lor the Year Ended 31 December 2024 CHARITY STAnis Eyam Museum Limited is a charity registered in England and Wales, limited by guorantee and COn5eqvently does not hove Shore copitol. Eoch of the trustees is liable to contribute an omovnt not exceeding £5 toward5 the 055ets of the charity in the event ol liquidation. ACCOUNTING POUCIES Basls of prepaTrg the linonciol stolements The financial stotemenls of the charitable compony, which is o public benefit entity under FRS 102, have been prepared in accordance with the Charities 50RP IFRS 1021 'Accounling and Reporting by Charities.. Slatement of Recommended Practice applicable to chorities preparing the occounls in accordance wlh the Financial Reporting Standard applicable in the UK and Republic of Irelond IFRS 1021 leffective I January 20191.. Financial Reporting Standard 102 'The Financiol Reporting Slandord opplicoble in the UK and Republic of Irelond, and the Companies Act 26. The linanciol statements have been prepored under the historical cost convention, with the exception of investments which ore included at market value, 0$ modified by the revoluotion of certoin assets. The pre5entotion ond funclional currency is considered to be pounds sterling because that Is Ihe currency in the primary economic environment in which the chority operates. Golng concem The financial stolemenls have been prepared on a going concem b0515. The trustees assess whether the use ol going concern appropriate i.e. whelhei there ore ony molerial uncertainties related to events or conditions that may cost significant doubt on Ihe abilily of the chority to continue as u going concem. The trustees make this ossessmenl in respect of a period of one year from the dote of approval of the financial statements. Exernption from preparfng a cash flow statement The charfy opted to adopt Bulletin I published on 2 February 2016 and have Iherefore not included o cash flow statement in these financial slatemenls. Judgements In preparing Ihese financiol 5tolements the tnJstees have had to moke judgements, estimates ond assumptions thot offect the application of policies ond reported amounts of assets, liabililies, income ond expenses. The estimote5 and 055ociated 05sumptions are bused on historic experience and vorious other factus that are believed to be reasonable under the circumstonces. the results ol which form the basis of making the judgements aboul carryng volues of ossets ond liabilities and are not readily apparent from other sources. Actual results moy differ from these estimates. The Significant e5thmoles ond ossumption5 ore- Tangible fixed ossets Tangible fixed assets are depreciated over their useful live5 toking into account residvol volues. The trustees p&riodically review the major closses of assets to ensure that the period over which they ore deprecioted 15 appropriate. Preparatlon of con$olldaled flnanclal statements The financial statements contain information about Eyam Museum Limited 05 an individuol company and do not contain consolidated linanciol information as the porent of a group. The charily 15 exempt under Section 39912AI ol the Companies Act 21J)6 from the requirements to prepare con501idated financial stalement5. Page12
Eyam Museum Umlted Notes to the Finoncial Stalemenls - continued for the Year Ended 31 December 2024 ACCOUNTING POLICIES - conlinved Income All income is recogni5ed in the Statement of Financial Actiwties once the chorily has entillement to the funds, il is proboble thot the income will be received and the amount can be measured reliably. Income is staled ofter trode discounts and other sales taxes. Donation5 and legacles Donations are recognised when the charity ha5 been notified in writing of both the amount and Settlement dale. In the event that a donotion 15 5ubjecl to conditions that require a level of performance by the charity before the charity 15 entitled lo the funds, the income is deferred ond not recognised until elther those conditions are fully met, or the fulfilment of those conditions is wholly within the control of the chority and it is proboble that these conditions will be fulfilled in the reporting period. Grants receivable Gwonts ore recognised when the charity has on entitlement to the funds and any conditions linked lo the grants hove been met. Where performance conditlon5 are attached to the grant and are yet to be met, the income 15 recogni5ed as a liability and included on the balance Sheet as deferred income lo be rele05ed. CondtFions relating lo all grants received in the yeor have been met and are therefore oppropriate recognised os grant income. Deferred Income Deleffed income repre5ent5 amounls received for future periods and 15 released to incoming resources in the period forwhich, It has been received. Such income is only deferred when.. - The donor specifies that the grant or donation musl only be used in future accounting peTiods.' or - The donorhos imposed condition5 which must be met before the charity ha5 unconditionol entitlement. Inveslment Income Dividend5 are recogni5ed or7ce the dividend hos been declared and notificalion ha5 been received ot the dividend due. Interest is recognised once the charity becomes entitled to the fund5. Olher income Insuronce settlements are recognised when the charity hos established its entitlement to the reimbursement of the insured 1059, the receipt of thot reimbursement IS Virtually certain and its amount can be measured reliably. Expendltvre Liabilities ore recogni5ed 05 expendilure as 500n as there is a legal or constructive obligotion committing the charity to that expenditure, it is probable that o tronster of economic benefits will be required in settlement cnd the amount of the obligation con be me05UTed reliably. Expenditure is accounted lor on an occnJa15 basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly ollributed lo particular headings they have been allocoted to activities on a basis consistent with the use of resource5. All resources expended are inclusive of irrecoveroble VAT. Tanglble fixed assels Depreciation is provided ol Ihe lollowing annuol roles in order to lte off eoch a55et over its estimaled useful life. Freehold property 2% on cost Puge13
Eyam Museum Limited Notes to the Flnonclal Stalements - contlnued for the Year Ended 31 December 2024 ACCOUNTING POLICIES - conllnved TangiNe flxed as5et5 Plant and machinery 20% on c05t and l 0% on cost Fixture5 and fittings 20% on cost ond IO% on cost Relaled parfy exemptlon The chorilable company has taken advantage of exemption, under the terms of Hnancial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Repubfic of Ireland,. not to disclose related party transactions with wholly owned subsidiaries wllhin the group. Taxation The charity is exempt from corporolion tax on its charitable actNlties. Fund accountlng Unrestricted funds can be used in accordance with the chtable objectives at the discretion of the trustees. Restricted funds can only be used for particular restricted purposes within the objecls of the chority. Restrictions arise when specified by the donor or when funds are raised for particulaT Testricted PUTposes. Further explanation ol the nature and purpose of each fund is included in the notes to the finonciol statements. Hlre purchase and leaslng commllments Rentals paid under operating leases are charged to the Statement of Financial Activities on a straight line ba&s over the period of the lease. Flnonclal Instruments Classlflcatton nancial assets and financiol liabilities are recognised when the charity becomes a paty to the contractual provisions of the instrument. Finonciol liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract Ihot evidences a residuol interest in the assets of the charity ofler deducting all of ils liabilities. Financial assets Trade and otheT debtor5 Trade and other debtor5 which are receivable wilhin one year are initially measured at the Iiansaction price. Trade and other debtor5 are Subsequent measured at amortised cost. being the Iransoction price less any amoun15 Settled and any impaiTment1055es. A provision for impairment of trade debtors is established when there is objective evidence that the amounts due will not be collecled according to the original term5 of the contract. Impairmenl 105ses are recognised in profit and105s for the exce55 of the corrwng value ol the trade debtor5 over Ihe present volue of the future c05h flow5 discounted using the original efteclive interest rate. Subseqvent reversa15 of an impoiTment105S that objectively relole to an event occvring after the impairment10s5 W05 Tecogni5ed, are recognised immediately in profil and loss. Flnanclal Ilabllltles and equlty Financial liabilities and equity instruments ore classified according to the substonce of the contractual Page 14
arrangements entered into. An equity inslrumenl is any controct that evidence5 a residual interest in the assets ol the compony ofter deducting oll of its liabilities Page 14
Eyam Museum Llmlted Notes to the Flnanclal Slatements - continved for the Year Ended 31 December 2024 ACCOUNTING POLICIES . contlnued naneial inslrvments Equlty Instruments Financial instruments clossified 0$ equity instruments are recorded at the lair value of the cash or other resources received or ieceivable, net of direct CO515 01 i$5uing the equity instyuments. Tiade and othLY credllors Trade and other creditors payable within one year ore initially meosured at the tronsaction price and subsequently meosured at amortised cost, being the transaction price less ony amounts setlled. Inve$lments Investmenls in subsidiarie5 ond associates are measured at C05t le55 impairment. INVESTMENT INCOME 2024 2023 Deposit account interest 10,918 5.147 INCOME FROM CHARITASLE ACTIVITIES 2024 2023 Actlvlty Exhibitions Donations ond legacies Donations and legacies Donations and legacies other income Exhibilions Covenonted profft Donotions Gronls Rental income 124,771 5,552 1,103 16.263 345 119.894 1,277 20,096 345 148,034 141,612 Grants received. included in the above, are 05 follows- 2024 2023 Grants received 16,263 20,096 Page 15
yam Museum Llmlted Notes to the Flnanclal Stalemenls - conllnued lor the Year Ended 31 December 2024 RAISING FUNDS Charflable acNvltles 2024 2023 staff costs Office, p051 and Stationery Svndrie5 Legol & profes5ioncl fee5 Publicity Projecl Costs Room Hire Travel Depreciation SupF)Ort costs 64,479 1,723 5,396 232 3,845 26,075 56.354 1,974 3,159 1.369 2.778 42.056 581 2.307 9.138 18.256 3.112 8,383 19,763 133,(XJ8 137.972 NET INCOMEI(EXPENDITURE) Net Incomellexpenditurel is stated after choTging/lcreditingl: 2024 2023 AUdItS. remunerotion Depreciation - owned 055et5 other operating le05es 3,240 8,383 530 3.240 9.138 277 TRUSTEES, REMUNERATION AND BENEFITS There were no trusFee5' remvneralion or other benefits for Ihe yeu ended 31 December 2024 nor for the year ended 31 December 2023. Trustrees. expenses A zoom subscription wos poid for on behalf of the trusFee5 in order to allow any trustees to attend meetings if they ore not ovailable in per50n. The subscriplion amounted to £15612023.. £1441. Page16
Eyam Mvseum Llmlled Notes to the Flnanclal Statements . continued tor the Year Ended 31 December 2024 STAFF COSTS The average rnOnth number of employees during the yeor was as follows: 2024 2023 staff Trustees No employees received emoluments in excess of £60,000. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES UnTeslrlcted Restricted funds fund Tolol fund$ INCOME AND ENDOWMENTS FROM Charltable actlvltles Exhibitions Donations and legacies other income 119.894 1,990 345 119,894 21.373 345 19.383 Investment income 5,147 5.147 Total 127.376 19,383 146,759 EXPENDITURE ON Roising funds 116,831 21.141 137,9n Charftable actlvlttes Donations and legacies 277 277 Tolal 117.108 138,249 NET INCOME/(EXPENDITURE) Transfers beh¥een funds Olher recogni5ed goin51(1055e5) Gains on revaluation ol fixed os5et5 10.268 5,785 11.7581 15,7851 8,510 92.500 92.500 Nel movement In funds 108,553 17.5431 101.010 RECONCILIATION OF FUNDS Total fund5 brought loward 571,980 5.884 577,864 TOTAL FUNDS CARRIED FORWARD 680.533 1.6591 678,874 Page 17
Eyam Museum Limited Notes lo the Flnanclal Slalements - continved lor the Year Ended 31 December 2024 10. TANGIBLE FIXED ASSErs Fixtures and flttlngs Freehold property Plant and machlnery Tolals COST OR VAIUATION At l January 2024 Additions 350.000 92,487 17,803 15,765 460,290 15.765 Al 31 December 2024 350,0 92,487 33,568 476.055 DEPRECIATION At l January 2024 Charge for year 90,142 281 16,619 106.761 8.383 7,OCM) Al 31 December 2024 7,000 90,423 17.721 115,144 NET BOOK VALUE At 31 December 2024 343,CyJO 2,064 15.847 360,911 At 31 December 2023 350,000 2,345 1.184 353,529 Cost or valuation at 31 DecembeT 2024 is represented by: Fixture5 and Ilttlngs Freehold property Pl¢nt and machlnery Totals Valuation in 2020 Valuation in 2023 Cost 52.062 50.CK)O 247.938 52,062 50,CX)O 373,993 92.487 33,568 350,OCO 92,487 33,568 476.055 RevaluaNon The fair volue ol the company's Land and Buildings was revalued on October 2023 to £350,OCK) by Renshaw Chartered Surveyors who are externol to the chority. The original cost of the property w05 £247,938. The Irusleeg consider the net book value to be reasonable. Had this class of 055et been measured on o histoiical cost basis. their corrying amount would have been £134.81512023 - £139.7751. other con51deratlon3 Eyam Museum Limited houses the artefact5 known 05 the "Daniels Collection which w05 gitted to the charity to tell the story ol the village heroism during the plague. No reference is made on the balance sheet as no financial considerotion wa5 given. Fixed 0s5ets ore included in the balance sheet ot revolued omount5. Page 18
Eyam Museum Limited Notes to fhe Flnanclal Statements - conllnved for the Year Ended 31 December 2024 FIXED ASSET INVESTMENTS Unllsted Investmenls MARKET VALUE At l January 2024 ond 31 December 2024 NET BOOK VALUE At 31 December 2024 At 31 December 2023 There were no investment a55ets outside the UK. The compony's investments ol the balance sheet date in the share capital of companie5 include the following: Eyarn Museum Tradlng Llmlted Regislered office.. England and Wales Nature of business.. Museum gift shop Class of share: OTdinary holdlng 100 2024 2023 Aggregate capitol and reserves Profit for the year 13,493 13,491 5,554 10,130 For the period ended 31 December 2024 Eyam Museum Trading Limited had a tumover of £60,408 and expenditure of £46,917 resLJlting in o profit of £13.491. Eyam Museum Trading Limited is responsible for the running of the museum gift shop. 12. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade debtors Amount5 owed by group undertaking5 Other debtor5 Prepaymenls 1.112 5.681 321 2,670 670 18.090 186 2,701 9.784 21,647 Page 19
Eyam Museum Llmlted Notes to the Finoncial Slatemenls - continved for the Year Ended 31 December 2024 13. CASH AT BANK AND IN HAND 2024 Total funds 2023 Total funds Reslrlcted income fund General Cosh in hand Bank accounl no. I Bank deposit account 562 2.256 343.9iXJ 562 2,256 366,466 61 4,328 306.600 22,566 Total 346,718 22.566 369.284 310,989 14. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR 2024 2023 Trade creditors Deferred incorne Accrued expenses 6,866 22,379 5,918 3,386 3.907 35,163 7,293 15. LEASING AGREEMENTS Minimum lease payments under non-cancellable operating leases fall due as followg: 2024 2023 Within one yeor 8eeÈn one ond five year5 530 1,591 530 2.121 2.121 2.651 16. MOVEMENT IN FUNDS Net movement In funds Transfers between funds At 31112124 At 111124 Unresmcted lund5 General Revaluation reseNe 470.308 210.225 26,617 2,0401 16141 496,311 208.185 680.533 24.577 16141 704,496 Re$lri¢ted lunds Restricted income fund 11.6591 1.367 614 322 TOTAL FUNDS 678,874 25,944 704,818 Page 20
Eyam Museum Limited Notes to the Financial Slatements - contlnved for the Year Ended 31 December 2024 16. MOVEMENT IN FUNDS - conllnued Net movement in funds. included in Ihe obove ore as follows.. Incomlng resources Resources expended Movement in funds Unresfricled lund5 General Revaluation reserve 142,554 1115.9371 2.0401 26.617 142,554 1117,9771 24,577 Re5tr1cted lunds Restricled income fund 16.398 115.031 | 1.367 TOTAL FUNDS 158.952 133,0081 25.944 Comparatlves for movement In funds Net movement In funds Translers behveen funds Al 31112123 At 111123 Unrestrlcled lund5 General Revalualion reserve 453,215 118,765 11,308 91,460 5,785 470,308 210.225 571.98 102,768 5.785 680.533 Restrlcted funds Restricled income fund 5.884 11,7581 15.7851 11.6591 TOTAL FUNDS 577,864 101,010 678,874 Page 21
Eyam Museum Limited Notes lo the Financlal Slatements - continued for the Year Ended 31 December 2024 16. MOVEMENT IN FUNDS - conllnued Comparative net movement in funds. included in the above ore 05 follows.. Incomlng resources Resources expended Gain5 and Movement losses In funds Unresfricted lund5 General Revaluation reserve 127,376 1116,0681 1.0401 11.308 91.460 92,500 127,376 1117,1081 92,500 102,768 Restrlcted fund5 Reshicted Income fund 19,383 11.7581 TOTAL FUNDS 146.759 138,2491 92.500 101.010 A cuThent year 12 months and pr¢or year 12 months combined posilion is as follows.. Net movement In funds Transfefs behveen fund5 At 31112124 At 111123 Unreslrkted funds General Revaluation reserve 453,215 118,765 37,925 89,420 5.171 496,311 208,185 571.980 127.345 5.171 704,496 Reslrf¢led fund5 Restricted income fund 5,884 13911 15,1711 322 TOTAL FUNDS 577,864 126.954 704,818 Page 22
Eyam Musevm Limlted Notes lo the Flnanclol Statements - continued for the Year Ended 31 December 2024 16. MOVEMENT IN FUNDS - conllnued A current year 12 months and prior year 12 months combined net movement in funds. included in the above are as follows: Incoming resovrces ResouTces expended Galn5 and Movernent losses in funds Unrestrlcted fvnds General Revaluation reserve 269.930 1232,0051 3,0801 37.925 89,420 92,5CQ 269.930 1235,0851 92.500 127,345 Restrlcted funds Restricted income fund 35,781 136,1721 13911 TOTAL FUNDS 305.711 271,2571 92,5C 126.954 Restrlcted funds The specific purp05e5 for which the funds are lo be applied are as follows: The reslricted funds relate to donations which are held as fund5 towards the study support cenlre for reseorchers to review our archives. The tTUStees envisage the next new project will commence in the coming years. 17. RELATED PARTY DISCLOSURES Franclne Cllllord (Director of both Eyam Museum Limited ond Eyom Museum TTading Limiledl During the year Francine Clifford received royalties on book sales made in Eyom Museum Troding Limited totalling £1,07912023 - £5831. As port ol the royalty ogreement Francine Clifford donaled £13512023 £871 to the charity study cenlre reserrf8. Al the balance sheet dote the amount due from Francine Clifford was £32212023 - £1871. 18. PRIOR PERIOD ADJUSTMENT In the 2023 finonciol year, expenditure thot occured relating to the ACE Unlocking Collections grant was not included os restricted expenditvre. As there is on obligation to repoy ony unsvsed fvnds. the grant income and expendlture is considered to be restricled. This expendilure omounted to £21.141. resulting in a restricted reserves balonce COled forwards 01 £19.295. This has been corrected in Ihe 2023 financial stalements lo give a restricted reseNes balance COled forwards of £116591. Page 23