Reglstered number: 02290819
Charity number: 800074
ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
UNAUDITED
TRUSTEES, REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantse)
CONTENTS
Page
Refer8nce and Administrative Details of the Museum, Its Trustees and Advisers
Chaimian's Statement
Trustees. Report
8-11
Independent Examinerfs Report
12
statement of Financial Activities
13
Balance Sheet
14-15
Notes to the Financial Statements
18-31

ST. NEOTS MUSEUM UMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS
FOR THE YEAR ENDED 31 DECEMBER 2024
Trustees
R J Brittain. Finance Officer
L M Capper MBE (appointed 21 August 2024)
G C R Chapman
EBElam
M Fletcher. Chaimian
C J Jones
J K Sinfield
C Slade
E St Hill Davies
C C Thompson
Company registered
number
02290819
Charity registered
number
800074
Registered office
8 New Street
St Neots
Cambs
PE19 1AE
Company secrntary
J K Sinfiekl
Accountants
Streets Chartered Accountants
Potton House
Wyboston Lakes
Great North Road
Wyboston
Beds
MK44 38Z
Bankers
Barclays Bank PIC
Leicester SerwrAng Centre
Leicester
Leics
PE19 1AS
Santander
Bridle Road
Bootle
Merseyside
L30 4GB
Natwest Bank PIC
92 High Street
Huntingdon
Cambs
PE29 3DT
Page 1

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
REFERENCE AND ADMINISTRATIVE DETAILS OF THE MUSEUM, ITS TRUSTEES AND ADVISERS
(CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Cambridge & Counties Bank
Chamwood Court
5B New Walk
Leicester
LE16TE
United Trust Bank Limited
1 Ropemaker Street
London
EC2Y 9AW
Page 2

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarnntee)
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 DECEMBER 2024
The chairman presents his statement for the year.
1. Objects of the Charity
The objects of the charity are set out in the Arbcles of Association of St. Neots Museum Ltd and are 'to advance
the education of the public in conservation and the history of St. Neots, Cambridgeshire, and its immediate
environs by the provision and maintenance of a Museum,. The Trustee5 reviewed the original Memorandum &
Articles of Association (from 1988) and formally adopted an updated version of it in June 2019.
2. A Look back at 2024
2024 has been a year of significant change and development for the museum ￿ryth a stepped increase in our
income generation resulting in year on year income increasing by around 60% and organisationally the
recruitment of a Museum Manager to lead on the museums commercial and day to day operations. For the
majority of 2024 the museum manager post had been unfilled and to the credit of the museum staff, volunteers,
and tNstees the museum delivered, during 2024, a successful and varied schedule of v￿rkshops, events and
learning programmes and expanded our on-line activrties %thilst still maintaining our financial position despite a
significant increase, excluding pay. in our day to day costs.
Receiving full aGGreditation for the museum from the Arts Council was a major achievement and is a reGognition
that the standards and poliaes we have set ourselves (and adhere to) thill ensure we can continue to develop our
museum, promote the history of our town and we manage our Gollections properly, engage V4fjth visitors, and that
we are govemed appropriately.
We obtsined a major grant from the Highways Agency to develop our displays and the first of those displays,
representation of a railway carriage, opened to the public in 2024. All the museum team have supported this
project, this has been a key initiative where we have also made use of the sknlls and expertise of our museum
team and volunteers to ensure we tumed a proposal into a physical reality.
Earlier in the year we collected from the British Museum a very rare Early Saxon brooch which was donated to
the museum. As a result of this very special object being added to our collection a major funding initiats've was
launched to enable the museum to showcase our local treasures and archaeological items of historical
importance to the public. The Friends of the Museum are leading on this initiative and V￿ have already reached
over 50UA of our funding targeL The next stage is contacting major grant funding bodies to match the donations
received from the public and local organisations.
I highlighted in last yearfs ￿pOrt that the Museum had significant building issues, both structurally and v￿th the
limited layout and spaces available. Our lead trustee and ne￿lY appointed museum manager established a good
working relationship with some of our key supporters and we a￿ seeing some of the improvements to our
museum such as the new roof, upgrading our wireless network and forthcoming replacement of our internal
lighting. These are visible signs of how we are modemising our facilitses to ensure we Safeguard our collection
and make the museum more enjoyable to wsit and work in. Plans for any major redevelopment of the museum
site are on hold awaiting completion of a feasibilty study looking at options and an audience engagement plan,
both studies are due to be completed in 2025.
Page 3

ST. NEOTS MUSEUM LIMrrED
(A Company Limited by Guarantsè)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
3. Key relationships with other oryanisations
(a) St. Neots Town Council
The premises occupied by the Museum are leased (35 years from 2020) from the TOTrA￿ Council ￿ryth a
peppercom rent and an obligation on the landlord to maintain the bullding in good condition, viith the Museum
responsible for its interior decoration.
The Council also provides a substantial contribution tovRrds the Museum's running costs. Wtihout the ongoing
support of the Town Council, the Museum would have great difficulty in prowding the services to meet its
obligations. Our yearly grant from St Neots Town Counal was for £63,080 (a year on year increase of 11 %) and
our request to increase the grant for 2025r26 to £67,700 has been approved by the Council. In addition, funding
of £13,000 was allocated by the Town Council to support maintenance of the museum buildings.
The Trustee5 are gratefijl to the Town Council, ￿thIch is the principal financial supporter of the Museum, and the
Trustees are Committed to ensuring all residents of St Neots and the surrounding parishes continue to gain
access to the Museum for free and that we provide the events, exhibitions and activities which ensure the
Museum is placed in the heart ofthe community of St Neots and the surrounding villages.
b) The Friend5 of St. Neots Museum
The Friends are a separate and independent body dedicated to supporting the work of the Museum through
fundraising and advocacy in the local community. The Friends aim to ensure that the Museum can continue to
showcase the rich heritage of the St Neots area. support the Museum's work viith a wide variety of communty
groups including schools and young people and champion the stories of local people and places revealed
through the Museum's collections. During 2024, as well as the traditional events such as the Round Table Santa
Sleigh Run, Museum Open day and the Christmas Draw, the Friends of the Museum also organised a unique
event, held in November, combining historical bad(ground and dramatic recreation, to articulate the 1812 murder
of British Prime Minster, Spencer Perceval. The event was a majtx commercial success and was very VRII
attended. The Friends are planning to hokl a similar event in 2025.
The Friends of the Museum are leading on an inibative to enable the museum to showcase our local treasures
and have already reached over 500h of our funding target of £25,000. The Trustees aCkna￿edge the important
role the Friends play in the life of the Museum and the financial contribution that they make to it and recognise
that the 5LlPPOrt of the 'Friends' will be even more important and vital to aid any fvture redevelopment of the
Museum.
c) St Neols Museum Volunteers
As Chair of Trustees, I want to acknowledge that the ￿￿llIng partiapation of the Volunteers is an essential
element in the continued success of the Museum. Thanks goes to the hard-working Volunteers who keep the
Museum shipshape and tidy, proNllde a wann welcome to our visitors, support the workshops and events held at
the museum. attend extemal events as supporters and promotors of the museum. as well as carrying out
cataloguing, research, and archival work to ensure our collection is well managed. They bring a wde range of
skills and expertise, and their experience and enthusiasm helps support work of the highest quality. A total of 47
unpaid volunteers are involved in supporting the museum donating 5,839 volunteer hours in 2024.
Page 4

ST. NEOTS MUSEUM LIMITED
(A Company Llmited by Guarantee)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
4. 2024 Activities and Programmes
4.1 Museum Activities and Events
In 2024 we had 10,242 visitors to the Museum. In addits-on, we estimate aboLrt 1,000 visitors attended the Living
History Festival in September on the Market Square and many more people interacted with the Museum through
our website and other outside events and activibes. In the Temporary Exhibition Gallery V￿ put on 2 exhibitions
by local artists and a very successful Lego family event and the always popular Winter Craft and Gift Fair.
During 2024 we provided 14 walks around St Neots town centre, involving over 160 people, and 25 talks to local
groups across the area reaching over 750 people. Essential to the Museum are the objects, photographs and
ephemera we collect as part of our core work preserving the heritage and culture of the area and our total
collection COn￿Sts of 14,698 individual items.
Our social media p¢)st reach figures have risen from 1,542 in 2023 to an overall social media rea¢h in December
2024 of 48,041. Marketing evaluation run on the reception desk throughout 2023 showed that print media
reached very few visitors and a result using a more targeted advertising strategy our marketing spend reduced
by -550/0 in 2024 vs. the previous year.
We have an outline programme for next year with a Continued focussed on local history vthth (free family activities
in the spring and summer school holidays). l am very excited that we are holding, in March and April, our first
Arts Season at the museum promoting the work of three local arb'sts. 2025 is the 30th anniversary of the
museum and we are creating a special exhibition to celebrate this major milestone. Our Living History festival is
happening in Septemberwith key funding already secured.
4.2 Leaming Programmes
The fomial leaming programme saw 390 PU￿lS from 8 local primary schools visit the Museum for local history
units led by the Leaming Officer including small group visits from Samuel Pepys special education school and
Riverside MeadOV￿ Academy. a Social, Emotional and Mental Health (SEMH) specialist scho￿. We are looking
to expand the leaming programme for schools and our support of dementia groups in the area.
Family informal leaming vlas supported by 20 days of family craft workshops in the school holidays, free
Museum trails, toddler times. a twilight at the museum event and resources to support family Museum visits. The
summer workshops were part of the University of Cambridge 'Summer Y￿th the Museums. programme which
supports regional Museums.
5. Museum Governance
In terms of museum govemance, we have improved the focus and accountability Mfjth the trustee meetings now
being held quartedy and the creation of three working groups responsible for the leadership of the
financeloperations, promotionfinvestment and organisationlpolicies of the museum. All three working groups are
now in place and are starbng to make a difference putting in place the structures we need for the museum to
continue to progress. In relation to trustee recruitment, two new members have joined the Board and it is good to
see that both bring to the team new skills and leadership and taknng ownership of two key studies (community
engagement and feasibilitylreview of options) that are required to support any future Arts Council funding
applicats'on.
Page 5

ST. NEOTS MUSEUM LIMrrED
(A Company Limlted by Guarantee)
CHAIRMAN'S STATEMENT (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
6. Financial Position and The Charity's Reserves
The total unrestricted funds held by the Charitable Company at year end are £51,289. The Trust's current
reserves policy is to have a minimum of £50.000 cash reserves on hand to cover the changes in cash flow
during the year and to cover any unforeseen i55ues. The reserves in our unrestricted account at the end of 2024
represent about 6 months, worth of expenditure. Credit is due to the Financial Team for its detailed fund
management and regular reporbng to the Trustees which has enabled the Museum to stabilise our financial
position against a background of significant cost increases and organisational change.
One of our agreed strategic aims is to be more financially resilient and grow our revenues ensuring the Museum
maintain5 sufficient cash reserves to underpin the long-temi future of the Museum and broadens the scope of
Museums investments to achieve its objective5. In 2024 y￿ continued to widen the sources of funding by
seeking investment opportunities outside of our previous support organisations. It has been a year of significant
hange and developrnent for the museum wth a stepped increase in our income generation resulting in year on
year income increasing by around 60%. The increase in funding has been predominately utilised to update our
museum displays and develop our IT capabilities and to commence a programme of vrfork to enable the museum
to showcase our local treasures which are cU￿entlY held in secure storage.
In summary, the Board considers the overall financial perfomance of the Trust to be satisfactory. We are
grateful to the whole staff and volunteer team cantributed to the performance and for all their effort and
passion.
7. The Future
The Board of Trustees in partnership with the museum staff has identified five strategic and investment priorities
that it will focus on delivering over the next five years. These are:
To engage, develop and inspire our communities %Mth the aim to develop the leaming potential of the
museum and to widen access to the museums resources enabling rn0￿ people to enjoy and leam about
local hentage.
2. To care, grow and increase access to our collections ensuring St Neots Museum is an important community
asset thn?ugh the p￿servatIon of the collections and the stoiies Éhey tell with the Museum adopting good
professional prdctice.
3. To redevelop and transfonn our infrastnjcture wth the intention lo trdnsfonn the museum into a hen"tage.
leaming & culturdl hub for the whole communty using rfs unique local collection.
4. To be more finan￿allY resilient and grow our revenues ensuring the Museum maintains suff￿￿nt cash
reserves that underpin the long-tem? future of the Museum and broaden the Scope of Museums investments
and extemal funding to achieve Ats aims.
5. Improve our govemance to safeguard the long temi future of our museum by ensuring we have dear
<)wnership and regular remews of the Projects we agree to implement.
The Board of Trustee5 continue to align our priorities to the foTrvard plan. The agreed priortiies {in order) for
2025126 are:
Delivery of the digital design5 project
11. Maintaining a finanrial position of breakeven by year end. This means that we are not looking to increase
volumes Iredesign "business as usual actNities" such as tslksl walksl school visits etc unless we identify a
funding shortfall.
Page 6

ST. NEOTS MUSEUM LIMITED
(A Company Llmlted by Guarantee)
CHAIRMAN'S STATEMENT {CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
111. Delivery of the showcasing local treasu￿5 display. If we get the required funding then this is to happen in the
second half of 2025 afterwe have completed the digitsl designs project.
IV. Support the evaluations required for the Options study and Community engagement review. This is being
lead by trwo of our trustees.
V. Obtain fvnding for the "Access for All Projecf. This project will deliver a range of improvements to our
museum building to ensure our facilities are accessible to all and the intetion is this will be prominently
funded through targeted grants.
We have agreed a programme of key projects to deliver during 2025 (and beyond) and l am grateful to my fellow
Trustees for their continued help and support through what is a very ambitious programme in terms of what Y
have set out to achieve.
M Fletcher
Chaimian
Date: 16 July 2025
Page 7

ST. NEOTS MUSEUM UMrrED
(A Company Limited by Guarantee)
TRUSTEES. REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
The Trustees present their annual report together with the financial statements of the Museum fly the year from
1 January 2024 to 31 De￿mber 2024. The Annual Report serves the purposes of both a Trustees, report and a
directors, report under company law. The Trustees confimi that the Annual Report and financial ststements of
the charitable company comply with the current statutory requirements. the requirements of the charitable
company's goveming document and the provisions of the Statement of Recommended Practice (SORP)
applicable to charities preparing their accounts in accordance wtth the Finanaal Reporting Standard applicable in
the UK and Republic of Ireland (FRS102) (effective 1 January 2019).
Since the Museum qualifies as small under section 382 of the Companies Act 2006, the Strategic Report
required of medium and large companies under the Companie5 Act 2006 (Strategic Report and Directors,
Report) Regulations 2013 has been omitted.
Objectives and activities
a. Policies and objectives
The object set out in the Memorandum and Artides of associalion is to advance the education of the public in
conservation and the history of St Neots, Cambridgeshire and its immediate environs by the provision and
maintenance of a museum.
In setting objectives and planning for activities, the Trustees have given due consideration to general guidance
published by the Chanty Commission relating to public benefi( induding the guidance 'Public benefit.. running a
charity (P82)'.
b. Main activities undertaken to further the Museum's purposes for the public benefit
The charity provides opportunities for artifacts to be preserved and displayed for the benefit of the local
community.
The Museum is open to the general public for general viewing of static displays or participation in specialist
events and workshops. Local residents can visit the Museum free of charge. with donations in lieu of entrance
fees being requested for other visitors.
Schools and community groups are able to visit the Museum as part of their educational activities and they also
have access to boxes of artifacts on a range of topics. vthich enable a hands-on approach to leaming.
Achievements and perfonnance
. Main achievements of the Museum
The review of the Museum's activities and performance is given in the Chairman's Report.
Page 8

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Financial revlew
. Going concern
The charity continues to receive an annual grant from St Neots Town Council and also has a good level of
general reserve5 to support the day to day activibes.
After making appropriate enquiries, the Trustees have a reasonable expectation that the Museum has adequate
resources to continue in operational existence for the foreseeable ftAure. For this reason, they continue to adopt
the going concem basis in preparing the finanaal statements. Further details regarding the adoption of the going
concern basis can be found in the accounting policies.
b. Reserves policy
The Trustees seek to maintain sufficient unrestrided reserves to cover six to nine months running costs,
excluding depreciation, with the desired level of general funds estimated at £50,000 (2023 £50,000). The actual
level of unrestricted reserves was £51,289 at the reporting date (2023 £60,300).
The Trustees consider that the museum's assets are sufficient to meet its obligations and the level of
unrestricted funds is adequate to cover the day to day requirements of the museum for the forthcoming year.
. Overview
The museum has reported an overall SUTplus of £31,574 (2023 deficyt of £4,377) comprising a deficit on
unrestricted activities of £6,666 and a surplus of £38.240 on restricted funds. Restricted income indudes grants
and fundraising for specific projects where the expenditure will be incurred in fvture accounting periods. The
trustees continue to prepare detsiled budgets, and to approve and monitor spending on the running costs for the
museum, in addition to managing specific projects and enhancements to the museum's facilities and displays.
The employment and general running costs continue to be covered by the annual grant from St Neots Tovm
Council.
Structure• governance and management
a. Constitution
St. Neots Museum Limited is registered as a charitsble company limtied by guarantee (company registration
number 02290819, charity number 800074) and was set up by a Memorandum of Association on 30 August
1988. The Articles of Association were updated on 27 June 2019.
b. Methods of appointment or election of Trustees
The management of the Museum is the responsibility of the Trustees who are elected and c(Fopted under the
terms of the Memorandum of Assaciation.
c. Oryanisational structure and declsion•making policies
The directors who served the chartty during the year are Set out on page 1. The directors are also the trustees
for the purposes of charity law. Day to day responsibility for the running of the Museum is undertaken by the
trustees and senior paid staff.
Page 9

ST. NEOTS MUSEUM UMITED
(A Company Limitsd by Guarantee)
TRUSTEES. REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Structurei governance and management (continued)
d. Pay policy for key management personnel
The charity sets rates of pay which are commensurate wth the roles and responsibilities of each staff member
Details of the remuneration paid to key management personnel are gbven in note 11.
e. Related party relationships
In addition to the groups listed in the Chaimian's Report. the charity's trustees are also, individually, involved in
number of other businesses and organisations. but there are not any related party transactions requiring
disdosure in the accounts.
f. Financial risk management
The Trustees have assessed the major risks to wthich the Museurn is exposed, in particular those related to the
operations and finances of the Museum, and are satisfied that systems and procedure5 are in place to mitigate
our exposure to the major risks wherever possible.
Plans for future pèriods
As set OLSt in the Chaimian's Report, the trustees continue to look at different ways to enhance the Museum and
to seek to ensure the charity has appropriate management and ￿sOUrceS to continue for the foreseeable future.
Members, liability
The Members of the Museum guarantee to contribute an amount not exceeding £1 to the assets of the Museum
in the event ofwnding up.
Statement of Trustees, responslbilities
The Trustees (who a￿ also the directors of the Museum for the purposes of company law) are responsible for
preparing the Trustees, Report and the financial statements in accordance with applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Trustees to prepare financial statements for each financial year. Under company law,
the Trustees must not approve the financial statements unless they are satisfied that they give a true and fair
view of the state of affairs of the Museum and of its incoming resources and application of resources, including
its income and expendtture, for that period. In preparing these finanaal staternents. the Trustees are required to:
select suitable accounting policie5 and then apply them consistently",
observe the methods and principles of the Charities SORP (FRS 102):
make judgments and accounting estimates that are reasonable and prudent"
state whether applicable UK Accounting Standards (FRS 102) have been foll0v￿d. subject to any material
departures disclosed and explained in the financial statements.,
prepare the financial statements on the going Goncem basis unless it is inappropriate to presume that the
Museum will continue in business.
Page 10

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarants8J
TRUSTEES, REPORT ICONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of Trustees, responsibilities (CONTINUED)
The Trustees are responsible for keeping adequate accounting records that are sufficient to show and explain
the Museum'5 transactions and disdose with reasonable accuracy at any time the financial position of the
Museum and enable them to ensure that the financial statements comply with the Companies Act 2006. They
are also responsible for safeguarding the assets of the Museum and hence for taking reasonable steps for the
prevention and detection of fraud and other irregularities.
Approved by order of the members of the board of Trustees and signed on their behalf by.
Fletcher
Chairman
Date.. 16 Juty 2025
Page11

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
INDEPENDENT EXAMINER'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2024
Independent Examiner's Report to the Trustees of SL Neots Museum Limited Iyhe Museum,)
We report to the charty Trustees on our examinab'on of the accounts of the Museum for the year ended 31
December 2024.
Responsibilities and Basis of Report
As the Trustees of the Museum (and its directOTS for the purposes of company law) you are responsible for the
preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act.).
Having satisfied ourselves that the accounts of the Museum are not required to be audited under Part 16 of the
2006 Act and are eligible for independent examination. we report in respect of our examination of the Museum's
accounts carried out under section 145 of the Charities Act 2011 (Ihe 2011 Act.). In carrying out our examination
we have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.
Independent Examiner's Statement
We have completed our examination. We confirm that no matters have come to our attents'on in connection wtth
the examination giving us cause to believe..
accounting records were not kept in respect of the Museum as required by section 386 of the 2006 Act,. or
the accounts do not accord v￿th those records,. or
the accounts do not comply v￿th the accounting requirements of section 396 of the 2006 Ad other than
any requirement that the accounts give a Irue and fairf wew which is not a matter considered a5 part of
an independent examination; or
the accounts have not been prepared in accordance with the methods and principles of the Statement of
Recommended Practice for accounting and reporting by charrties [applicable to charities preparing their
accounts in accordance with the Finanual Reporting Standard applicable in the UK and Republic of
Ireland {FRS 102)].
We have no concem5 and have come across no other matters in connection with the examination to which
attention should be drawn in this ￿port in order to enable a proper understanding of the accounts to be reached.
This report is made solely to the Museum's Trustees, as a body. in accordance with Part 4 of the Charities
(Accounts and Reports) Regulations 2008. Our Work has been undertaken so that V￿ might state to the
Museum's Trustee5 those matters we are required to state to thern in an Independent Examiner's Report and for
no other purpose. To the fullest extent permitted by law, y￿ do not accept or assume responsibility to anyone
other than the Museum and the Museum's Trustees as a body, for our work or for this report.
Signed=
Linda J Lord
c￿1 cl
Dated. i 8 ¢VLJST aoas
BSC, BFP, FCN TEP
Streets Chartered Accountants
Potton House, Wyboston Lakes, Great North Road, Wyboston. Bedford MK44 3BZ
Page 12

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guaranteè)
STATEMENT OF FINANCIAL ACTMTIES IINCORPORATING INCOME AND EXPENDITURE ACCOUNT)
FOR THE YEAR ENDED 31 DECEMBER 2024
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Total
funds
2023
Note
Income from:
Donations and legaues
Charitable activitses
11.085
78,133
13.542
1.368
10,826
41,254
21.911
119,387
13,542
1,368
9, 153
79,848
22,906
1,723
Other trading activities
Investments
Totsl Income
104,128
52,080
156,208
113,630
Expenditure on:
Raising fund5
Charitable activities
9,231
101,563
9.231
115,403
14,830
103, 177
13,840
Total expenditure
110.794
13.840
124.634
118,007
Net (expenditure}lincome
Transfers between funds
(6,6661
(2.345)
38,240
31,674
(4,377)
18
Net Tnovement in funds
19,011)
40.585
31.574
(4,377)
Reconciliation of funds:
Total funds brought fov*vard
Net movement in fvnds
60,300
(9,011)
29,122
40,585
89,422
31,574
93, 799
(4,377)
Total funds carried forward
51.289
69.707
120,996
89,422
The Statement of Financial Activities indudes all gains and losses recognised in the year.
The notes on pages 16 to 31 fomi part of these financial statements.
Page 13

ST. NEOTS MUSEUM LIMITED
(A Company Limlted by Guarantee)
REGISTERED NUMBER: 02290819
BALANCE SHEET
AS AT 31 DECEMBER 2024
2024
2023
Note
Fixed assets
Tangible asset5
Heritage assets
13
14
9.420
22.747
4, 783
22, 747
32.167
27.530
Current assets
stocks
Debtors
Cash at bank and in hand
15
16
7,323
4,619
84,315
8,382
6,009
56,594
96,257
70, 985
Current liabllities
Creditors.. amounts falling due within one
year
17
(7,428)
(9,093)
Net current assets
88,829
61,892
Total net assets
120,996
89,422
Page 14

ST. NEOTS MUSEUM LIMITED
(A Company Llmited by Guarantee)
REGISTERED NUMBER: 02290819
BALANCE SHEET {CONTINUED)
AS AT 31 DECEMBER 2024
2024
2023
Note
Charity funds
Restricted funds
Unrestricted funds
18
18
69,707
51,289
29, 122
60,300
Total funds
120.996
89,422
The Museum was entiled to exemption from audit under 5eGtion 477 of the Companies Act 2006.
The mernbers have not required the company to obtain an audit for the year in question in accordance with
section 476 of Companies Act 2006.
The TTUStees acknowledge their responsibililies ft)r complying with the requirements of the Act with respect to
accounting records and preparation of financial statement5.
The financial statements have been prepared in accordance with the provisions applicable to ents'ties subject to
the small companies regime.
The financial statements were approved and aulhorised for issue by the Trustees and signed on their behalf by:
Fletcher
Chairman
Date= 16 July 2025
The notes on pages 16 to 31 form part of these financial statements.
Page 15

ST. NEOTS MUSEUM U1411TED
(A Company Limitad by Guarantea)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
General inforniation
The charitable company is a company limited by guarantee, registered in England and Wales. The
address of the registered office is 8 New Street. st Neots. Cambridgeshire, PE19 1AE.
The accounts have been prepared in sterling. This is the functional currency of the entity.
Accounting policies
2.1 Basis of preparation of financial statements
The financial statements have been prepared in accordance vAth the Charities SORP (FRS 102) -
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). the Financial Reporting Standard
applicable in the UK and ReputAic of Ireland (FRS 102) and the Companies Act 2006.
SL Neots Museum Limited meets the definition of a public benefit entity under FRS 102. Assets and
liabilitie5 are inits-ally recognised at historical cost or transaction value unless other*￿Se stated in the
relevant accounts'ng policy.
2.2 Going concern
The trustees have a reasonable expectation that the museum has adequate resources to continue in
operational existence for the foreseeable fLrture. For this reason they continue to adopt the going
concem basis in preparing the financial statements.
2.3 Fund accounting
General fijnds are unrestricted funds which are available for use at the discretion of the Trustees in
furtherance of the general obj'ectives of the Museum and which have not been designated for other
purposes.
Restricted funds are funds which are to be used in accordance ￿fjth specific restrictions imposed by
donors or which have been raised by the Museum for particular purposes. The costs of raising and
administering such funds are charged against the specific fund. The aim and use of each restricted
fund is set out in the notes to the financial statements.
2.4 Income
l income is recognised once the Museum has entitrement to the income, it is probable that the
income y￿11 be received and the amount of income receivable can be measured reliably.
Income tax recoverable in relation to donations received under Gift Aid is recognised at the time of
the donation.
Page 16

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.5 Expenditure
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit
to a third paty, it is probable that a transfer of econoTnic benefits wll be required in settlement and
the amount of the obligation can be measured reliably.
Expenditure on raising funds indudes all expenditure incurred by the Museum to raise fLJnds for its
charitable purposes and indudes costs of all fundraising activitie5 events and non-charitable trading.
Expenditure on charitable activitses is inCu￿ed on directty undertaknng the activities which fvrther the
Museum's objectives, as well as any associated support costs.
All expenditure is inclusive of I￿e¢OVerable VAT.
2.6 Interest receivable
Interest on funds held on deposit is included when receivable and the amount can be measured
reliably by the Museum- this is normally upon notification of the interest paid or payable by the
insts'tution wth whom the fvnds are deposited.
2.7 Taxation
The Museum is considered to pass the tests set out in Paragraph 1 Schedule 6 of the Finance Act
2010 and therefore it meets the definition of a charitable company for UK corporation tax purposes.
Accordingly, the Museum is potentially exempt frorn taxation in respect of income or capital gains
received vththin categories wvered by Chapter 3 Part 11 of the Corporation Tax Act 2010 or Section
256 of the Taxats"on of Chargeable Gains Act 1992, to the extent that such income or gains are
applied exclusively to charitable purposes.
2.8 Tangible fixed assets and depreciation
Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible
fixed assets are measured at cost less accumulated depreciation and any accumulated impaimient
105ses. All costs incurred to bring a tangible fixed asset into its intended working condition should be
induded in the measurement of cost.
Depreciation is charged so as to allocate the c05t of tsngible fixed assets less their residual value
over their estimated useful lives.
Depreciation is provided on the following basis:
Fixtures, fittings. tools and
equipment
15% per annum reducing balance or 33.33Q
straight line
Page 17

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantae)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies {continued)
2.9 Heritage assets
The charity holds a number of historic assets, many of which have been donated to the Museum.
There is no reliable cost infomiab.on or valuation of the majority of the Museum'5 collections. which
consist of items relating to St Neots and District from prehistoric times to the 1940,5. The benefits of
obtsining a valuation do not justify the c05t and, as a consequence, such assets are not included in
the financial statements.
Heritage assets, vthich are tangible fixed assets of historical. artistic or scientific importance that are
held to advance preservation and conservation objectives of the charity. Newly purchased heritage
assets are capitalised and included at cost induding any incidental expenses of acquisition.
The very long expected lives of heritage assets, due to their nature, value and need to be protected
and preserved means that depreciation is not material and 15. therefore, not provided.
2.10 Stocks
stocks are valued at the lower of cost and net realisable value after making due allowance for
obsolete and slow-moving stocks. Cost include5 all direct costs and an appropriate proportion of fixed
and variable overheads.
2.11 Debtors
Trade and other debtors are recognised at the settlement amount after any trade discount offered.
Prepayments are valued at the amount prepaid net of any trade discounts due.
2.12 Cash at bank and in hand
Cash at bank and in hand includes cash and short-tem highly liquid investments wth a short maturity
of three months or less from the date of acquisibon or opening of the deposit or similar account.
2.13 Liabilities and provisions
Liabilitses are recognised when there is an obligation at the Balance Sheet date as a result of a past
event, it is probable that a transfer of economic benefit will be required in settlement, and the amount
of the settlement can be estimated reliably.
2.14 Financial instruments
The Museum only has financial assets and financial liabilitie5 of a kind that qualify a5 basic financial
instruments. Basic finanaal instruments are inttially recognised at transaction value and subsequently
measured at their settlement value with the exception of bank loans which are subsequently
measured at amortised cost using the effects.ve interest method.
2.15 Operating leases
Rentals paid under operating leases are tharged to the Statement of Financial Activttses on a straight
line basis over the lease temi.
Page 18

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Accounting policies (continued)
2.16 Pensions
The Museum operates a defined contribution pension scheme and the pension tharge represents the
amounts payable by the Museum to the fund in respect of the year.
Income from donations and legacies
Unrestricted Restricted
funds
funds
2024
2024
Total
funds
2024
Total
funds
2023
Donations
Donations - General
Donations- Friends of St Neots Museum
Use of Old Court Room
Thornhilv Diddington Fund
3.757
4,607
2,721
3.757
4.607
2,721
10,826
3,967
3,436
1, 750
10,826
11,085
10,826
21,911
9,153
11,085
10,826
21.911
9, 153
Total 2023
9. 153
9, 153
Page 19

ST. NEOTS MUSEUM UPAITED
(A Company Llmlted by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Income from charitsble activities
Unrestricted Restricted
fvnds
fund5
2024
2024
Total
funds
2024
Total
funds
2023
Grant from St Neots TO￿Tr Council
Grants for specific projects
Donations in lieu of entrance fees
Commission on sale of photographs and craft
fair
Photographs supplied and miscellaneous
income
Income from workshops and events
67,074
67,074
41.254
2.119
63,200
41.254
2.119
2,466
1.552
1.552
2,677
160
7.228
160
7.228
148
9,357
Total 2024
78,133
41.254
119,387
79,848
Total 2023
77,848
79,848
Income from other trading acllvlties
Income from fundralslng events
Unrestricted
funds
2024
Total
funds
2024
Total
tunds
2023
Shop income
Escape room income
8.187
5.355
8.187
5.355
11,673
11,233
13.542
13.542
22,906
Total 2023
22.906
22,906
Page 20

ST. NEOTS MUSEUM LIMITED
(A Company Llmited by Guarnntee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Investment income
Unrestricted
funds
2024
Total
funds
2024
Total
funds
2023
Interest received
1,368
1,368
1, 723
Total 2023
1, 723
1,723
Expenditure on raising fijnds
Costs of ralslng voluntary Income
Unrestrfcted
funds
2024
Total
funds
2024
rotal
funds
2023
Goods for resale (adjusted by stock)
Escape room costs
5,664
3,567
5,664
3,567
7,315
7,515
9,231
9.231
14,830
Total 2023
14,830
14,830
Page 21

ST. NEOTS MUSEUM UMITED
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure on charitable activities
Summary by fund type
Unrestricted Restricted
funds
funds
2024
2024
Total
2024
Total
2023
St Neots Museum
101,563
13.840
115,403
103,177
Total 2Q23
101.064
2,113
103, 177
Summary by expendlture type
Staff costs Depreciation Other costs
2024
2024
2024
Total
2024
Total
2023
St Neots Museum
59,904
2,031
53.468
115.403
103,177
Total 2023
61,116
1.613
40,448
103, 177
Page 22

ST. NEOTS MUSEUM LIMITED
(A Company Limlted by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Analysis of expenditure by activities
Activities
undertaken
directly
2024
Support
costs
2024
Total
funds
2024
Total
funds
2023
st Neots Museum
106,703
8.700
115.403
103, 177
Total 2023
91.582
11.595
103, 177
Analysls of direct costs
Total
funds
2024
Total
funds
2023
Staff costs
Depreciation
Rent
Rates and vRter
Light and heat
Insurance
59,904
2,031
1,040
614
3,862
2.456
6.432
1,891
747
61,116
1,613
1,040
709
3,620
2,242
2, 122
1,148
309
Repairs and maintenance
Security system
Conservation
Display5 and exhibitions
Events
Legal and professional fee5
2,919
3,870
20.937
1,868
6,877
8,918
106.703
91,582
Page 23

ST. NEOTS MUSEUM LIMITED
(A C(Mnpany Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Anatysis of expenditure by activilles (continued)
Analysis of support costs
Total
funds
2024
Total
funds
2023
Telephone
Postage, stationery and photocopier
Publicity and advertising. induding webste costs
Travelling and training costs
Sundry expense5
Govemance costs
6T1
326
309
3.799
79
1.137
2,699
466
6,139
14
2,208
2,442
8,700
11,595
10.
Independent examiner's remuneration
The independent examinerfs remuneration amounts to an independent examiner fee of £1,875 (2023
- £1, 800), and payroll and secretarial serwce5 of £824 (2023- £541).
11. Staff costs
2024
2023
Wages and salaries
Contribution to defined contribution pension schemes
58,320
1,584
59. 749
1,367
59,904
61,116
The average number of person5 employed by the Museum during the year was as follows:
2024
2023
Museum Staff
Museum staff
Page 24

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantse)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
11. Staff costs (contlnued)
No employee received remuneration amounting to more than £60.000 in either year.
The staff costs represent the total payroll costs (gross pay. employerfs national insurance and pension
cantributions) of the museum manager. museum assistant. education and learning officer and cleaner.
The key management personnel of the charity comprise the trustees and the manager appointed on 3
June 2024 {previously key management personnel compriseed the trustees and curatorldirector). None
of the trustees receive any remuneration. The total remuneration (induding employer pension
contributions) paid to key management personnel in the year amounted to £14.940 (2023 £21,268).
12. Trustees. remuneration and expenses
During the year, no Trustees received any remuneTatton or other benefits (2023 - £NILJ.
During the year ended 31 December 2024, no Trustee expenses have been incurred (2023 - £NIL).
13. Tanglble fixed assets
Fixtures and
fittings
Cost or valuation
At 1 January 2024
Additions
98,067
6,668
At 31 December 2024
104,735
Depreciation
At 1 January 2024
Charge for the year
93,284
2.031
At 310ecember 2024
95.315
Net book value
At 31 December 2024
9,420
At 31 December 2023
4, 783
Page 25

ST. NEOTS MUSEUM LIMITED
(A Company Limitsd by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
14. Heritsge assets
Assets recognised at cost
Kimbolton
Hoard
2024
Carying value at 1 January and 31 December 2024
22,747
22,747
15. Stocks
2024
2023
Finished goods and goods for Tesale
7,323
8,382
16.
Debtors
2024
2023
Due within one year
Other debtors
Prepayments and accrued income
1,664
2,955
3, 778
2,231
4,619
6, 009
17. Creditors: Amounts falling due within one year
2024
2023
Arxruals and defe￿ed income
7,428
9,093
Page 26

ST. NEOTS MUSEUM UMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Statement of funds
Statement of funds - cuThent year
Balance at
31
December
2024
Balance at 1
January
2024
Transfer5
inlout
Income Expenditure
Unrestricted funds
General Funds
60,300
104,128
(110,794)
12,345)
51.289
Restrictsd funds
Propety Conversion and
Equipment Fund
Heritage Asset5 (primarily
Kimbotton Hoard)
St Neots Town Council Vibrant
Communty Fund
Mrs A Wills Legacy
NCCIMDSE
National Highways
Rotary Club of St Neots
Goodliff
Huntingdonshire Family History
Society
ThornhilVDiddington Fund
4.783
(2,031
6.669
9,421
22,747
22,747
1600)
968
968
972
37,982
700
{972)
(2,530)
110,509)
(700}
24,943
624
624
1,000
10,826
1822)
178
10,826
29.122
52.080
(13.840)
2,345
69.707
Total of funds
89.422
156,208
1124.634)
120.996
Page 27

ST. NEOTS MUSEUM UMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Statement of funds (continued)
Statement of funds - prior year
Balance at
31
De￿rnber
2023
Balance at
l January
2023
Trnnsfers
in/out
Income Expenditure
Unrestricted funds
General Funds
65, 694
111.630
(115,894)
(1. 130)
60,300
Restricted funds
Property Conversion and
Equipment Fund
Heritage Assets (primarity
Kimbolton Hoard)
Rotsry Project
Camb5 County Council
Goodlrfl
ThomhilVDiddington Fund
3, 766
(1,613)
2,630
4, 783
22, 747
22.747
(500)
(1,500)
624
968
624
968
28,105
(2,113)
1,130
29,122
Totsl of funds
93, 799
113.630
(118,007)
89,422
Page 28

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
18. Statement of funds {continued)
Property Conversion and Equipment Fund
The Property Conversion and Equipment Fund represents the net book value of assets held by St Neots
Museum Limited at the balance sheet date. The fund is reduced by depreciation and amortisation over
the life of the assets and transfers represent addttional assets purchased in the year.
Heritage Assets
In 2012 the Museurn received grants to enable it to purchase the contents of the Kimbolton Hoard. a
collection of Iron Age gold and silver coins costing £22,232. In 2018. the charity also purchased additional
medieval artefacts costing £515. The restricted fund rep￿senting the cost of the heritage assets acquired
and the fund Nwll be maintained at this value while the assets are owned by the Museum.
st Neots Town Council Vibrant Communty Fund
During the year the museum received £600 to Cover the costs of a twilight event for families. The grant
was used to purchase lightin9 for special effects.
Mrs A Wills Legacy
In 2021, the Museum received a legacy of £968 from Mrs A Wills to go towards the preservation and
presentation of a collection of items donated by Mrs Wills.
NCCIMDSE
The Museum received a grant of £972 to purchase collection care equipment recording humidity and
temperature in gallery spaces. The grant was Combined with £822 from Huntingdonshire Family History
Society to purchase environmental monitors costing £1.794 Mthich have been capitalised and transferred
to the Property Conversion and Equipment Fund.
National Highways
A grant of £37,982 vras received for the introduction of digital resources to enhance display5 and
exhibitions for visitors and to provide stopping points for more sustained engagement wth the public.
During the year, expenditure totalling £13.039 had been inurred, with the project being completed early in
2025.
Goodliff
In 2020 the Museum received £800 towards producing a I￿￿klet for St Neots in World War 2 and to
purchase oral recoding equipment. £176 was used in previous years, leaving £624 carried forward.
Huntingdonshire Family History Society provided a grant of £1,000, of vthich £822 VRS used to fund
environmentsl monitors, as noted above. The remaining £178 will be used for oral history equipment and
training.
ThornhilVDiddington Fund
During the year an Angltrsaxon brooch, the Thomhill Diddington Brooch, was donated to the museum.
A fund-raising campaign was launched to fund the purchase of a seGure showcase to display the
Diddington brooch and the Kimbolton Hoard.
Page 29

ST. NEOTS MUSEUM LIMrrED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
19. Summary of funds
Summary of funds - current year
Balance at
31
December
2024
Balance at 1
January
2024
Transfers
inlout
Income Expenditure
General funds
Restricted funds
60,300
29,122
104.128
52.080
1110,794)
(13,840)
(2,345)
2,345
51.289
69.707
89,422
156.208
(124.634)
120,996
Sumrnary of funds - prior year
Balan￿ at
31
December
2023
Balance at
l January
2023
Transfers
in/out
Income Expenditure
General funds
Restricted funds
65.694
28,105
111,630
(115,894)
(2, 113)
(1, 130)
1, 130
60,300
29, 122
93. 799
113,630
(118.007)
89.422
20. Analysis of net assets bets*en funds
Analysls of net assets bet￿en funds - current period
Unrestricted
funds
2024
Restricted
funds
2024
Total
funds
2024
Tangible fixed assets
Heritage assets
Cu￿ent assets
Creditors due ￿rythin one year
9.420
22,747
26,550
(7.428)
9.420
22,747
96.257
(7.428)
69,707
Total
51,289
69,707
120.996
Page 30

ST. NEOTS MUSEUM LIMITED
(A Company Limited by Guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
20. Analysis of net assets bet￿￿n funds (continued)
Analysis of net assets bet￿ten funds - prior period
Unrestricted
funds
2023
Restricted
funds
2023
Total
funds
2023
Tangible fixed assets
Heritage assets
Current assets
Creditors due ￿rythin one year
4. 783
22,747
41,863
(9,093)
4, 783
22,747
70,985
(9,093)
29,122
Total
60,300
29, 122
89,422
21. Members, liability
The Museum is a company limrted by guarantee. Each member of the charitsble company undertakes to
contribLrte to the assets of the company in the event of it being wound up while helshe is a member, or
thin one year after helshe ceases to be a member, such amount as may be required, not exceeding £1
for the debts and liabiliiies contracted before helshe ceases to be a member.
22. Relatsd party transactlons
The Museum has not entered into any related paty transaction during the year, nor are there any
outstanding balances owing between related parties and the Museum at 31 December 2024.
Page 31