Company registration number: 2308621
Charity registration number: 800538
RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee and Registered Charity)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
Kingston Burrowes Audit Ltd
308 Ewell Road
Surbiton
Surrey
KT6 7AL

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee and registered charity)
TRUSTEES' REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
CONTENTS
Trustees' Report
Independent auditor's report
Statement of financial activities
Balance sheet
Statement of cash flows
Notes to the financial statements
Pages:
1 - 6
7 - 9
10
11
12
13 - 23

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
The management committee of Ragged School Museum Trust (RSM) presents its report and audited
financial statements for the year ended 31 March 2025.
(FRS 102) (effective 1 January 2019).
1. REFERENCE & ADMINISTRATIVE INFORMATION
Charity registered number:
800538
Company registered number:
2308621
Registered office:
Trustees:
Company secretary:
Director:
Auditors:
Bankers:
46-50 Copperfield Road
London
E3 4RR
Simon Bazalgette, Treasurer
Robert Moye
Alistair Owens
Magnus von Wistinghausen, Chair
Magnus von Wistinghausen
Erica Davies
Kingston Burrowes Audit Ltd
308 Ewell Road
Surbiton
Surrey
KT6 7AL
HSBC
1 Centenary Square
Birmingham
B1 1HQ
1

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
2. HOW WE ARE FULFILLING THE PUBLIC BENEFIT REQUIREMENTS OF THE CHARITIES ACT 2011
The primary objects for which the Museum was established remain those
• To advance public education in the local history of the East End of London and the Ragged School
Movement through the provision of a public museum and educational activities on site at 46, 48 &
50 Copperfield Road, London E3 4RR;
To preserve and maintain the buildings onsite at this address;
• To involve members of the local community in the running of the museum.
The Museum's vision is to be, and to be known as, the best place in London to experience the life of the
Victorian poor.
Specifically, the Museum aims to:
Provide children, teachers and families with understanding the life of the Victorian poor.
Ensure that visits are enjoyable, inspirational and interactive.
• Preserve our buildings and history.
3. STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
Ragged School Museum Trust (RSM) is a charitable company limited by guarantee. RSM business and
governance is conducted under the framework of its memorandum of articles of association.
Recruitment and appointment of management committee/training
Board members are selected on the basis of the experience, skills and expertise they bring to further the
main objectives of RSM. The induction process for new members includes the provision of information on
their roles and responsibilities, policy and procedures, meeting with the Director and staff, and site visits.
One-third of the board members must resign at each annual general meeting. The retiring members are
eligible for re-election.
Risk Management
RSM is committed to identifying and managing potential and probable risks that the organisation faces. The
oard of Trustees have overall responsibility for management of risk and it is an essential part of th
rganisation's effective governance. Monitoring known risks enables the Board and Senior Managemer
Team to make informed decisions and take timely action.
The principal risks facing the charity are:
Financial risks: Following the re-opening of the Museum in June, income from the resumed education
programme along with new income streams from the introduction of admission charges and the rental of
new office spaces have begun. In addition ongoing project funding support from NHF has allowed us to
cover significant elements of staffing and other operating expenses. This will continue for 2 years after re
opening, and will allow further new income streams from the café/restaurant and event hire to be develope
n line with the business plan which underpinned the capital development. Careful management of financia
resources has further allowed previously depleted reserves to be rebuilt to sound levels.
2

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
(cont'd)
Operational risks: having operated on a skeleton staff throughout the project delivery phase, ongoing
NLHF project funding provided 2-3 years of seed funding towards new posts to manage the operations in
the re-opened Museum. In addition, Glevum as project co-ordinators have continued to provide significant
support throughout the re-opening phase and for a period of a further two years, also funded from the
project budget. This has allowed time to form a small and re-invigorated team under the leadership of the
Director. Establishing a strong and experienced team to steer the Museum into the future is a priority for
the Trustees, working with the Director.
4. Review of Activities
Introduction
Hundreds of enthusiastic comments from visitors around the world are testament of how the Museum
continues to fulfil the objectives of our National Lottery Heritage Fund (NLHF) project. Significant aims were
to attract more adult visitors and to demonstrate that the history of the poor and destitute in the Victorian
East End was of interest to people of all ages worldwide. The expanding number of adults visiting arrive
with a variety of interests. Many people express how impressed they are by the building and how beautiful
it is. A great tribute to the pioneers of the 1980's who fought to save the building from demolition to extend
Mile End Park. They formed the Ragged School Museum trust, campaigning tirelessly to get the buildings
listed, and to raise funds to purchase. The substantive reason for listing was the association with Thomas
Barnardo as the only significant building standing where he began his work. As the decades have rolled on
the importance of the building as a significant, and elegant, set of 1gth century canal warehouses increases.
Reflecting on our application to the NHF we can be proud our intentions have come to fruition:
"The Ragged School Museum will engage new audiences in the hidden history of the Ragged School
Movement and the struggle for free education. It is the most significant ragged school open to the public
able to narrate this history in an authentic building. The school was opened in 1877 by Dr Barnardo and
represents his wide-ranging philanthropic work in East London from 1866. The Blitz and redevelopment left
few fragments to represent the lives of impoverished Victorian Londoners. The Museum has no core public
funding, must diversify income to secure its future, and is in one of the most disadvantaged wards in London.
The aims:
• Save the building.
• Mark the significance of the Ragged School Movement in the struggle for free education.
• Animate the world of Dickens and Doré through the stories of children attending this school.
• Show how philanthropists, especially Barnardo and Lord Shaftesbury, drove social change.
• Extensive refurbishment of undeveloped spaces. All of the building opened to the public while preserving
the authenticity and layers of history. Exhibition space expanded; public facilities greatly improved,
wheelchair access provided throughout; education service extended; new spaces for public and community
• Create significant new revenue streams ensuring financial self-sufficiency."
3

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
(cont'd)
Our objectives for 2024 - 2025
• Open the Museum to the public for 5 days a week.
• Attract a wide audience from all over the UK and abroad.
• Relaunch the café and make it a destination.
• Recruit a team of front of house volunteers and education volunteers.
• Launch a lively adult cultural programme to attract a new audience.
Achieving our objectives for 2024 - 2025
Open the Museum to the public for 5 days a week:
We are open to schools from Monday to Friday, to the general public from Wednesday to Sunday
Attract a wide audience from all over the UK and abroad.
Examples from a week in January 2025:
BC, Hong Kong, Interesting museum providing insights into Victorian times.
OS, USA, Very informative and well explained.
DB, Italy, This was the equivalent of a ride on the time machine, so amazing.
BG, Twickenham, Wonderful museum and building.
L&S W, Romsey, An exhibition that really draws you in. Thank you so much.
C&H L, Cornwall, Amazing museum and great building, thank you!
MH, Shepperton, Surrey, Wonderfully authentic & warm.
Relaunch the café and make it a destination.
The café continued to open during regular Museum visiting hours, and a little earlier to accommodate
customers from the Park Run in Mile End Park. Hours were occasionally extended into the early evening
but there was no regular evening opening.
Recruit a team of front of house volunteers and education volunteers.
We are fortunate that two very experienced, dedicated volunteers, Colin Jackson and Christine Webb, have
continued to give time very generously to support our schools learning programme. We owe them a great
debt of gratitude for their loyalty, enthusiasm and dedication over many years.
Anne Burton joined us to support volunteer recruitment. She had set up volunteer recruitment at St
Alphege's church in Greenwich as part of their NHF project. Our long standing partner Queen Mary
University of London remains a source of regular recruitment particularly for learning volunteers in our
schools programme. Volunteers came from many disciplines and their support is gratefully acknowledged
they make a vital contribution to keep the Museum going. We thank Esther Akleh Amankwah, Freya Ames,
Masuma Begum Ali, Saffron Carmela, Josh Charles, Amelia Day, Ruby Franklin Goddard, Najma Ismali,
Rowshan e Jahan, Rebecca Kleczkowski, Jiagi Li,, Catherine Moody, Mary O'Connell.
4

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
(cont'd)
Launch a lively adult cultural programme to attract a new audience.
Romy Nuttall, in charge of Adult and Cultural programmes, funded by the NHF as part of the Activity Plan
organised a number of talks during spring and summer, aimed to draw an adult audience:
The Children of Barnardo's at Tower Hamlets Cemetery Park, Megan Parker, Archivist at Barnardo's and
Diane Kendall of the Friends of Tower Hamlets Cemetery Park described the painstaking research entailer
n uncovering the histories of the children in the care of Barnardo's who are buried in the cemeter
A summer lecture season entitled Barnardo's East End:
W M Jacob, Poverty and Philanthropy
Prof Emma Griffin, Life in Barnardo's East End
Sarah Wise, Annie MacPherson: fighting 'Satan' in Whitechapel and Bethnal Green
Romy worked with Prof Alastair Owens, Prof Tim Brown and their student Inayah Uddin to produce a
downloadable walking tour Dr Barnardo's East London, which was trialled in July to great acclaim and
enjoyment from participants.
Our objectives for 2025 - 2026
• Attract a wide audience from all over the UK and abroad
• Open the café in the evening in summer.
• Recruit a team of front of regular front of house volunteers.
• Develop event hire on the second floor of No46 Copperfield Road.
• Let the first floor office space.
Financial Review
The completion of the building project set the Museum on a solid path to transform the operations and
secure long term financial sustainability of the organisation. New revenue streams have been generated
The Trustees operate a reserves policy whereby the free reserves held by the Trust should be approximately
three months expenses, which equates to approximately £80,000 based on annual operating expenditure
This would enable current activities to continue in the short term should funding drop significantly
At present the free reserves of £118,151 (2024: £94,605), exceed this this target. In calculating reserve
he Trustees have excluded from total funds the restricted income funds of £4,799,788 (2024: £4,684,115
Both the policy and its implementation are under regular scrutiny.
5

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee
TRUSTEES' REPORT
FOR THE YEAR ENDED 31 MARCH 2025
(cont'd)
Trustees' Responsibilities Statement
Company law requires the committee members to prepare financial statements for each financial year.
Under company law the trustees must not approve the financial statements unless they are satisfied tha
hey give a true and fair view of the state of affairs of the charitable company and of the incoming resource
and application of resources, including the income and expenditure, of the charitable company for that
In preparing these financial statements, the committee members are required to:
select suitable accounting policies and then apply them consistently;
observe the methods and principles in the Charities SORP 2019 (FRS 102);
-
make judgements and estimates that are reasonable and prudent;
prepare the financial statements on the going concern basis unless it is inappropriate to presume
that the charity will continue in operation.
he committee members are responsible for keeping adequate accounting records that disclose witt
easonable accuracy at any time the financial position of the charity and which enable them to ensure tha
the financial statements comply with the Companies Act 2006. They are also responsible for safeguardin
the assets of the charitable company and hence for taking reasonable steps for the prevention and detectior
of fraud and other irregularities.
Each of the committee members has confirmed that there is no relevant audit information of which the
charitable company's auditor is unaware; and the committee members have taken all steps that they ought
to have taken to make themselves aware of any relevant audit information and to establish that the auditor
is aware of that information.
Auditors
A resolution proposing that Kingston Burrowes Audit Ltd be appointed as auditors of the company will be
put to the Annual General Meeting.
This report has been prepared in accordance with the special provisions of part 15 of the Companies Act
2006 relating to small companies.
This report was approved by the Trustees on 21 December 2025 and signed on their behalf by:
Magnus von Wiltinghausen
Chair
6

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Opinion
In our opinion the financial statements:
•
give a true and fair view of the state of the charitable company's affairs as at 31 March 2025, and
of its incoming resources and application of resources, including its income and expenditure, for
the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.
Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and
applicable law. Our responsibilities under those standards are further described in the Auditor's
sponsibilities for the audit of the financial statements section of our report. We are independent of tr
aritable company in accordance with the ethical requirements that are relevant to our audit of the financ
statements in
the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical
responsibilities in accordance with these requirements.
obtained is sufficient and appropriate to provide a basis for our opinion.
Conclusions relating to going concern
In auditing the financial statements, we have concluded that the trustees' use of the going concern basis of
accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events
or conditions that, individually or collectively, may cast significant doubt on the charitable company's ability
to continue as a going concern for a period of at least twelve months from when the financial statements
are authorised for issue.
Our responsibilities and the responsibilities of the trustees with respect to going concern are described in
the relevant sections of this report.
Other information
The other information comprises the information included in the trustees' report, other than the financial
contained within the trustees' report.
nowledge obtained in the course of the audit or otherwise appears to be materially misstated. If we identit
uch material inconsistencies or apparent material misstatements, we are required to determine whethe
is gives rise to a material misstatement in the financial statements themselves. If, based on the work w
ave performed, we conclude that there is a material misstatement of this other information, we are require
to report that fact.
We have nothing to report in this regard

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
• the information given in the trustees' report (incorporating the directors' report) for the financial year
for which the financial statements are prepared is consistent with the financial statements; and
• the directors' report has been prepared in accordance with applicable legal requirements.
Matters on which we are required to report by exception
In the light of the knowledge and understanding of the charitable company and its environment obtained in
the course of the audit, we have not identified material misstatements in the directors' report.
We have nothing to report in respect of the following matters in relation to which the Companies Act 2006
requires us to report to you if, in our opinion:
adequate accounting records have not been kept, or returns adequate for our audit have not been
received from branches not visited by us; or
• the financial statements are not in agreement with the accounting records and returns; or
• certain disclosures of directors' remuneration specified by law are not made; or
• we have not received all the information and explanations we require for our audit; or
• the trustees were not entitled to prepare the financial statements in accordance with the small
companies' regime and take advantage of the small companies' exemptions in preparing the
directors' report and from the requirement to prepare a strategic report.
Responsibilities of trustees
As explained more fully in the trustees' responsibilities statement set out on page 6, the trustees (who are
also the directors of the charitable company for the purposes of company law) are responsible for the
preparation of the financial statements and for being satisfied that they give a true and fair view, and for
such internal control as the trustees determine is necessary to enable the preparation of financial statements
that are free from material misstatement, whether due to fraud or error.
In preparing the financial statements, the trustees are responsible for assessing the charitable company's
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using
the going concern basis of accounting unless the trustees either intend to liquidate the charitable company
or to cease operations, or have no realistic alternative but to do so.
Auditor's responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are
free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit
conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate,
they could reasonably be expected to influence the economic decisions of users taken on the basis of these
financial statements.
8

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
INDEPENDENT AUDITOR'S REPORT
FOR THE YEAR ENDED 31 MARCH 2025
redularities, includina fraud. ar
irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities,
including fraud is detailed below:
• Enquiry of management and those charged with governance about actual and potential litigation or
claims and the identification of non-compliance with laws and regulations.
Reviewing minutes of meetings of those charged with governance.
Reviewing financial statement disclosures and testing to supporting documentation to assess
compliance with applicable laws and regulations.
Auditing the risk of management override of controls, including testing journal entries and other
adjustments for appropriateness; assessing whether the judgements made in making accounting
estimates are indicative of a potential bias; and evaluating the business rationale of any significant
transactions that are unusual or outside the normal course of business.
•
Performing analytical procedures to identify any unusual or unexpected relationships that may
indicate risks of material misstatement due to fraud.
• Professional scepticism in course of the audit and with audit sampling in material audit areas.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including
those leading to a material misstatement in the financial statements or non-compliance with regulation. This
risk increases the more that compliance with a law or regulation is removed from the events and transactions
reflected in the financial statements, as we will be less likely to become aware of instances of non-
The risk is also greater regarding irregularities occurring due to fraud rather than error, as
fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities is available on the Financial Reporting Council's website at:
www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.
Use of our report
This report is made solely to the charitable company's members, as a body, in accordance with Chapter 3
of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the
charitable company's members those matters we are required to state to them in an auditor's report and for
no other purpose.
To the fullest extent permitted by law, we do not accept or assume responsibility to
anyone other than the charitable company and the charitable company's members as a body, for our audit
work, for this report, or for the opinions we have formed.
K.C Fisher
Kevin Fisher BA FCA CTA (Senior Statutory Auditor)
For and on behalf of Kingston Burrowes Audit Ltd
Statutory Auditors
308 Ewell Road
Surbiton
Surrey
KT6 7AL
22-12 - 2025
9

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
STATEMENT OF FINANCIAL ACTIVITIES
INCLUDING INCOME AND EXPENDITURE ACCOUNT
FOR THE YEAR ENDED 31 MARCH 2025
Income
Donations and legacies
Charitable activities
Investmening activities
Total
Expenditure
Raising funds
Charitable activities
Total
Net movement in funds
conciliation of fund
otal funds brought forwar
Total funds carried forward
Notes
Total
Unrestricted
funds
Total
united
4
5
71,309
112,536
96,036
5,056
284,937
303,823
303,823
3,122
258,269
261.391
19,587
168,563
188,150
23,546
115,673
17
17
94,605
£118,151
4,684,115
£4,799,788
Total
Funds
2025
375,132
112,536
96,036
5,056
588,760
22,709
426,832
449,541
139,219
4,778,720
£4,917,939
All income and expenditure is derived from continuing activities.
The Statement of Financial Activities includes all gains and losses recognised in the year.
To de dom a dore ancil tans.
Total
Funds
2024
381,924
84,251
31,955
4,005
502,135
62,379
242,354
304,733
197,402
4,581,318
£4,778,720

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
BALANCE SHEET AS AT 31 MARCH 2025
Notes
2025
13
4,575,139
2024
FIXED ASSETS
Tangible assets
CURRENT ASSETS
Stocks
Debtors
Cash at bank and in hand
4,565,342
2,443
62,083
345,698
410,224
(67,424)
2,443
9,085
263,043
274,571
(61,193)
CREDITORS
Amounts falling due within one year
NET CURRENT ASSETS
TOTAL NET ASSETS
16
CHARITY FUNDS
Restricted funds
Unrestricted funds
TOTAL FUNDS
18
17
17
17
342,800
£4,917,939
4,799,788
118,151
£4,917,939
213,378
£4,778,720
4,684,115
94,605
£4,778,720
These financial statements have been prepared in accordance with the special provisions of part 15 of the
Companies Act 2006 relating to small companies.
Approved by the Board of Trustees on 21 December
2025 and signed on their behalf by
The notes form part of these financial statements.
11

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
CASH FLOW STATEMENT
FOR THE YEAR ENDED 31 MARCH 2025
Notes
Cash flows from operating activities
Net movement in funds per statement of financial activities
Adjustments for:
Interest receivable
Depreciation
Increase/(decrease) in stock
Decrease/(increase) in debtors
(Decrease)/increase in creditors
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Interest receivable
Property renovation costs
Purchase of office equipment
Net cash provided by investing activities
Change in cash at bank in the year
Cash at bank brought forward
Cash at bank carried forward
5
The notes form part of these financial statements
12
2025
€
139,219
(5,056)
93,354
162208)
180,750
5,056
(99,000)
(4,151)
(98,095)
82,655
263,043
£345,698
2024
197,402
(4,005)
1,421
24,854
(6,514)
213,158
4,005
(206,286)
(658)
(202,939)
10,219
252,824
£263,043

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1. ACCOUNTING POLICIES
General information and basis of preparation
The Ragged School Museum Trust is a registered charitable company (no.800538) and a private
The charity constitutes a public benefit entity as defined by FRS 102. The financial statements have
been prepared in
accordance with 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 issued in October 2019, the
Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland (FRS 102), the
Charities Act 2011, the Companies Act 2006 and UK Generally Accepted Accounting Practice. The
financial statements have been prepared on the going concern basis and under the historical cost
The significant accounting policies applied in the preparation of these financial statements are set out
below. These policies have been consistently applied to all years presented unless otherwise stated.
Income recognition
Items of income are recognised in the financial statements when all of the following criteria are met:
• The charity has entitlement to the funds;
• any performance conditions have been met or are fully within the control of the charity;
• there is sufficient certainty that receipt of the income is considered probable; and
• the amount can be measured reliably.
of its services.
Expenditure recognition
Expenditure is recognised once there is a legal or constructive obligation to make payment to a third
party, it is
probable that settlement will be required and the amount can be measured reliably.
Expenditure is classified under the following activity headings:
Costs of raising funds which comprise those costs associated with attracting general donations
• Expenditure on charitable activities which comprises the costs of running the various activities
and services for the charity's beneficiaries.
Expenditure includes those costs of a direct nature which can be allocated to a specific activity. It also
includes indirect costs, including governance costs that do not relate to a specific activity but are
necessary to support them. Support costs are apportioned to each activity on the basis of staff time.
Fund accounting
Unrestricted general funds are those funds which are freely available for use in furtherance of the
objects of the charity and which have not been designated for specific purposes.
Designated funds are unrestricted funds set aside by the trustees for particular purposes.
Restricted funds are funds which can only be used in accordance with specific restrictions imposed by
the donor or which have been raised for a particular purpose.
13

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
1.
ACCOUNTING POLICIES../Cont'd
2.
Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over
their estimated useful lives as per the methods described below.
Depreciation is provided on the basis:
Freehold property
2% Straight-line
Displays
25% Reducing balance
Fixtures and fittings
5% Reducing balanc
Office Equipment
5% Reducing balanc
Assets under construction includes its purchase price, including legal fees, design and other direct
costs attributable to the development including borrowing costs.
Leases
Operating lease rentals are charged to the Statement of Financial Activities on a straight line basis
over the period of the lease.
Pensions
The Charity operates a defined
contribution pension scheme. Contributions are charged to the
Statement of Financial Activities in the year to which they relate.
Debtors and creditors
Debtors and creditors with no stated interest rate and receivable or payable within one year ar
recorded at transaction price. Any losses arising from impairments are recognised in expenditure
Loans and borrowings are initially recognised at transaction price including transaction costs.
Subsequently, they are measured at amortised cost using the effective interest rate method.
Government Grants
Grants received under Coronavirus Job Retention Scheme is accounted for on the accrual model.
DONATIONS AND LEGACIES
Unrestricted
Funds
Heritage Lottery Fund
Aldgate and All Hallows Foundation
Legacies
Sundry donations
70,498
811
£71,309
Restricted
Funds
283,823
20,000
:
E303,823
Total
2025
283,823
20,000
70,498
811
£375,132
Total
2024
380,235
1.689
£381,924
Of the £381,924 recognised in 2024, £1,689 was unrestricted fund income and £380,235 was restricted
fund income.
14

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
3. INCOME FROM CHARITABLE ACTIVITIES
Unrestricted
Funds
Restricted
Funds
School Income
Museum Visitors
Shop Income
Events and Lectures
87,348
17,097
9.317
£112,536
ENil
Total
2025
87,348
17,097
6,317
1,774
E112,536
Total
2024
70,403
13,166
682
E84,251
All income from charitable activities was in respect of unrestricted funds in the prior year.
4. INCOME FROM OTHER TRADING ACTIVITIES
Unrestricted
Funds
Venue hire
Rent
Café income
9,730
33,000
53,306
£96,036
Restricted
Funds
:
ENil
Total
2025
9,730
33,000
53,306
£96,036
Total
2024
7,205
24,750
£31,955
All income on other trading activities was charged to unrestricted funds in the prior year.
5. INVESTMENT INCOME
Bank interest receivable
Unrestricted
Funds
£5,056
Restricted
Funds
ENil
Total
2025
£5,056
Total
2024
£4,005
All income on investment income was charged to unrestricted funds in the prior year.
6. COST OF RAISING FUNDS
Direct costs - Fundraising events
Other costs
Unrestricted
Funds
2,476
646
£3,122
Restricted
Funds
16,216
3,371
£19,587
Total
2025
18,692
4,017
£22,709
Total
2024
61,497
882
€62,379
Of the £62,379 expenditure recognised in 2024, £2, 113 was charged to unrestricted funds and £60,266
was charged to restricted funds.
EXPENDITURE ON CHARITABLE ACTIVITIES
Summary by Fund Type
Museum and schools programme
nrestricte
unc
€
£258,269
Restricted
Funds
Total
2025
Total
2024
£168,563
£426,832
£242,354
Of the £242,354 expenditure recognised in 2024, £51,715 was charged to unrestricted funds and
E190,639 was charged to restricted funds.
15

8.
RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
ANALYSIS OF EXPENDITURE BY ACTIVITIES
Activities
Undertaken
Direct
£202,811
Support
Costs
£246,730
Museum and schools programmes
9. ANALYSIS OF DIRECT COSTS
Staff costs
Direct costs - shop/school activities
Exhibitions and events
Building Renovation
Fundraising
Costs
€
19802
£18,692
Charitable
Costs
129,053
7,245
47,821
E184,119
10. ANALYSIS OF SUPPORT COSTS
Fundraising
Costs
€
Depreciation
Insurance
Building maintenance
Cleaning
Light, eat and water stations y
Telephone and internet
Travel and subsistence
Office expense
Equipment rental
Fundraising and publicity
Computer, website and software costs
Professional fees
Governance costs
Irrecoverable VAT
Sundry expenses
-
4,017
:
£4,017
Charitable
Costs
93,354
8,229
8,122
1,184
61,534
2,109
65
4,260
597
8,026
12,070
4,255
19,145
16,165
£242,713
16
Total
2025
£449,541
Total
Funds
2025
129,053
7,245
18,692
47,821
£202,811
Total
Funds
2025
65
597
Total
2024
£304,733
Total
Funds
2024
137,743
11,923
61,497
£211,163
297

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
11. GOVERNANCE COSTS
Audit fees
Other professional services
Total
2025
E
3,360
895
£4,255
Total
2024
2.750
£5,965
12. STAFF COSTS
2025
2024
Wages and salaries
Social security costs
Contribution to defined contribution pension schemes
Other staff costs
88,141
1,543
804
38,565
£129,053
105,780
5,117
1,368
25,478
£137,743
No employee received total employee benefits (excluding employer pension costs) of more than
£60,000 in either year.
The average number of employees, calculated on a full-time equivalent basis was:
Staff
2025
Number
2
2024
Number
= l
The Museum considers its Key Management Personnel to comprise the Trustees and Director.
The 515) Under of 102, e player eived by de ma gement ersoner a 0 94202.
employer's pension costs and benefits in kind.
No trustee received remuneration for their trusteeship in 2025 and 2024
No trustee expenses were reimbursed or paid by the charity in 2025 and 2024.
17

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
13. TANGIBLE FIXED ASSETS
Cost
At 1 April 2024
Additions
At 31 March 2025
Depreciation
At 1 April 2024
Charge for the year
At 31 March 2025
Net book value
At 31 March 2025
At 31 March 2024
Freehold
Property 8
Improvements
4,601,083
99,000
4,700,083
Fixtures &
Fitings
18,627
18,627
37,000
92,002
129,002
17,861
191
18,052
£4,571,081
£575
£4,564,083
£766
Office
Equipment
6,337
4,151
10,488
Displays
6,775
6,775
5,844
1,161
7,005
6,775
6,775
E3,483
ENil
£493
ENil
Total
4,632,822
103,151
4,735,973
67,480
93,354
160,834
£4,575,139
£4,565,342
Freehold property includes capital improvements of £4,550,083 which represents the capital cost
ncurred in the refurbishment of the Museum. The refurbishment of the Museum was substantiall
completed during 2024.
14. STOCKS
2025
€
E2,443
2024
£2,443
Finished goods and goods for resale
All stock held is for the use of the Shop and Café.
15.
DEBTORS
Due within one year:
Fees receivable
Prepayment
Accrued Income
Other debtors - VAT recoverable
2025
2024
9,085
:
£9,085
18

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
16.
CREDITORS - amounts falling due within one year
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income
2025
11,228
228
168
55,800
£67,424
2024
11,311
38,956
1,076
9,850
£61,193
19

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
At 1 April
2024
Income
17. MOVEMENT IN FUNDS
2025
Restricted Funds:
Development fund
Building renovation
Building renovation - freehold
Improvements
Total Restricted Funds
Unrestricted Funds:
Designated Funds:
Staffing fund
Fixed assets fund - freehold
Premises
Fixed assets fund -
equipment etc
Expenditure Transfers
7,302
225,730
4,451,083
-
4,684,115
:
303,823
303,823
: (13,327)
(188,150) 133,327
(188,150)
6,000
113,000
601
119,601
(92,002)
(1,352)
(93,354)
751
751
General Funds
General funds
Total Unrestricted Funds
Total Funds
(24,996)
94,605
£4,778,720
-
284,937
284,937
£588,760
(168,037)
(261,391)
E(449,541)
(751)
ENil
20
At 31 March
2025
7,302
92,403
4,700,083
4,799,788
6,000
20,998
26,998
91,153
118,151
£4,917,939

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. MOVEMENT IN FUNDS.../Cont'd
Comparative information for the movement in funds in the previous year is as follows
At 1 April
2023
Income
Expenditure Transfers
At 31 March
2024
2024
Restricted Funds:
Development fund
Building renovation
Building renovation - freehold
Improvements
Total Restricted Funds
7,302
78,239
4,469,244
4,554,785
:
380,235
380,235
: 147,491
(250,905) (147,491)
(250,905)
7,302
225,730
4,451,083
4,684,115
Unrestricted Funds:
Designated Funds:
Staffing fund
Fixed assets fund - freehold
Premises
Fixed assets fund -
equipment etc
6,000
114,000
1,022
121,022
-
-
-
-
(1,000)
(421)
(1,421)
-
-
6,000
113,000
601
119,601
General Funds
General funds
Total Unrestricted Funds
Total Funds
(94,489)
26,533
£4,581,318
121,900
121,900
E502,135
(52,407)
(24,996)
£(304,733)
£4,778,720
21

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2025
17. MOVEMENT IN FUNDS.../Cont'd
Staffing fund
The trustees established a Staffing fund to help meet unexpected statutory and moral obligations that
of star. This reserve equais a ford of the potentia laays basedon the potential redundancy liability
This fund reflects the cost and depreciation of fixed assets purchased from both general funds and
from restricted grants where it is considered that there is no continuing restriction. The amount carried
forward is equal to the net book value of the related fixed assets at the year end
Development fund
This relates to funds received in previous years for a fundraising event at the House of Commons.
Building renovatior
The dings ane of the besigily wil prestonese out user moving contain the
fund accordingly.
18. ANALYSIS OF NET ASSETS BETWEEN FUNDS
2025
Tangible fixed assets
Current assets
Creditors due within one year
As at 31 March 2025
Unrestricted
Funds
4,058
181,517
(67,424)
£118,151
Restricted
Funds
4,571,081
228,707
£4,799,788
Total
20255
4,575,139
410,224
(67,424)
£4,917,939
Comparative information for the analysis of net assets between funds in the previous year is as
follows:
2024
Tangible fixed assets
Current assets
Creditors due within one year
As at 31 March 2024
Unrestricted
Funds
1,259
154,539
(61,193)
£94,605
Restricted
Funds
4,564,083
120,032
£4,684,115
Total
2024
4,565,342
274,571
(61,193)
£4,778,720
22

RAGGED SCHOOL MUSEUM TRUST
(A company limited by guarantee)
IOTES TO THE FINANCIAL STATEMENT
OR THE YEAR ENDED 31 MARCH 202
19. MEMBERS' LIABILITY
Ragged School Museum Trust is a company limited by guarantee and has no share capital. The
liability of each member is limited to £1. The number of members at the end of the financial year was
18(2024: 27).
20 RELATED PARTY TRANSACTION
Transactions a Man the period 20324: ransactions detailed in Note 12, there were no related party
23