Company Registralion Number- 02401088 The Charity Registration Number Ès :_ 802011 The Musical Museum Report and Accounts 31 March 2024 The Musical Museum Report and aceounts for thè yèar ended 31 March 2024 Contonts Pago Charlty Informatlon Tru8teg¥' Annual Rgport statement of dlrectors. re$pon$lbllltles Independent Examlnorfs Report Funds Statem8nts.". Statement of FinanrAal Aclivltles Stalemenl of Finonciol Aclivilie$- Prlor Yw $lalemgnl stalomenl of total recognised goln8 9nd108￿5 Movements In funds Income and Expenrfilure account Summary offund8 12 13 15 17 17 Balan¢9 shètrt Not98 to tho accounts 18 20 Tho Musl¢al Museum Company Regkstralton Nwnber- 02401088 Trustees. Annual Report for the year ended 31 March 2024 The TTUStee8 present theii Report and Accounts forth& year ended 31 March 2024, whlch also compk1ses the Dlreclor8' Report requir¢d by the CornpanTe¥ Act 2006. Reference and admlnlstratlve detalls The charlty name. The legal name oflh& charty b:_Th& Museum. Th• eb•rftys Ar••s op•rndon •nd UK eharltabl• r•g1$ts¥llon. Th• ehanty 58 roglsl•r•d In England & Wales wllh th• Charty Cc#mmhsk>n in England & Walas ICCEWI wlth charity nurnber 802011. Tho charty drA8 not operate In any averneaBlUr6Bdtcth￿￿. Legal 6tnicturo olth• cbarlty The ¢harity 1$ ¢onglilul¢d ag 8 company Ilmtt¢d by gvargnteo, r¢gl$l¢red undor tho Componles A¢is . The goverThlThg docurnenl ol the charlty15 lh8 MemofaNlum and Artlcle8 0fA880da￿0Th 8Stab116hkng iht cOM￿nY undtrr company leBl8latth. The governlng document18 dal8d 05 July 1989 There ar8 no reslrlcllons In the goveinlng documents on the Opera￿On of the Charmy or on Its Inveslmonl powers olher than those Imposed by Charily Law. By Opera￿on ol law 01. Iru9tee& ore dbctOf8 under Ihe Comp￿189 Ad 2006 And All dhctOT8 are Iw81ee8 nder Charll•$18g￿lalknTh and havè rosponslbiliuo8. 48 *u¢h. uNl•r both eompany and ¢P￿rIty Itgl$lallDn. The Muslcal Museum Company Reglstratbn Number- 02401088 Trustees. Annual Report for the year ended 31 March 2024 Th• prln¢lpal opgrotSng oddr¢$8, l¢l•phon• numb•r, •mall and w¥ts addro8$09 ol the ¢haTtty •r•:. 399 High Str081 Brontford, , TW8 ODU Telephone 020 8560 8108 Emall Addres8 vlsit muslcalmuse￿n.co.￿k Web addies8 wMv.mu8lc*ntBeum.co.u* The reglstered off￿e of the charity for Companieg Act purpo8e8 18 the same 88 th8 op6ratlng address shown above. Th• Trugt•O8 In offlc• on th• dat• th• r•port wa8 opprov•d w•rw.- S 8wrett-Whft• M Harborno MJWood C Pow¢1 J P¢)waN A Church A M R8hm• J Bourk& Th¢ followlng per¥on* *gr4￿ ￿ Tru¥tegs durfng the yvirwded 31 March 2024:. The Iru8lee8 who Served 08 a Iru8tee In Ihe reportkng perl(>J. and. Ir applkdjle, th?Ir dates of appolnlmenl QT res￿natIOn durlng lh* ￿rWor￿..- Namo Appolnt•d R•slgn8d/Rétlrqd S 8arret-Whltg IIA1112020 M H8rbom• 1010912017 M Wood 21m5r2010 C Powell 3110112022 JEPo￿lI 31101r2022 A Church OW1112022 J Tang A M Rahm8 0911112022 oimJr2024 09111r2022 31106r2023 Objects and activities of the charity The Muslcal Museum Company Registral•)n Number- 02401088 Trustees. Annual Report for the year ended 31 March 2024 The purposes of the charity as set out In Its governlng documenL Operallon of a museum of automaflc muskal Inslrumnls and a$$o¢iatsd archlve810 8nab18 curienl and future gengralions of visitors lo engage with. lake pleasure in and leam from tho hlslory and devalopmenl of mu51c reproductlon. The main activities undertak•n In rnladon to those puryJo8e8 durlng the yoar. Consorvatlon, preservatlon, and developm￿1 of nationally iffyortanl co118dlon"s ￿lated lo th& hlstory of muslc reproduction. The maln actlvltles undertaken durlng the year to further the charftys purpose for the publlc benefit. Educaling tha publlc through the operation of a museum which- - Cony8rv85, pres8rv88, and develops nationally Imporianl Gollectk>n8 related to Ihe hl8tory of mu81c reproduclion. Informs, engages and entertain8 Iha publlc regardlng the evolution of musSc reproducllon through Ihg use of self-playing in81Nments, demonstrallons, talks. eyhibilions. live perfomianc88 and other communlcalion8. Places the Ih8alr8 Qigan in contaxt of 8odal. hlstorlcal and musical importance. The Iru8lees h8ve had regard to th6 Charily Commisslon's guldanca on publlc benefit In managlng the actlvllles of the ¢harlty. The maln achlevements and performance of the charlty during tho year. The Muslcal Museum Company RegiStrat￿n Number- 024101088 Trustees. Annual Report for the year ended 31 March 2024 The creatlon of exhlbllions, displays and perfomiances thal provide Ihe narrative of the development of muslcal repToducllon. The provislon of opportunitles for Interacllon wllh the coll8Ctlon3 through talks, demonslrallons, concerts and where possible hands-on experiences. The development of training sk1118 it) und8rstandlng tha tschnology. consérvaflon and regtorallon and skills in public presentalion The en¢ouragemenl of research and publicatlon of mattets related lo the collecllons. The dlffernnce the charltys perforn￿nce dutlng the year has made to the beneflclaries of the charlty. The Mu81c81 Museum lells Ihe f8scinating 810ry of how peopl8 h8V8 C8Ptur•d and listened lo muslc over the la8t four centUri88. From tlny muslc boxes to the Mlghty Wurlltzer Iheatre organ In our concert hall, our ￿lleCtIOn Includes an Impresslv6 array of Insirumen18 and Inv8ntions, In¢ludlng reproducing pianos. or¢he$lrions, self-playing vlollns, plpe organs. gromophono$ & Bynlhesiz8r8. The degree (o whl¢h the ￿hlovem&nI$ and p•rfomianc• durfng tho year hava b•neflted widersoclety. An appreclallon of the 80clal hlstory of muslc reproductlon In the UK. The arrival of new 8udlenca8 who take plèasurè from the Musaum. Th8 bulldlng of rela￿anshIPS with local communllles, schools {Includlng Speclal Schoolg) and Interest groups lo enjoy and bBnefit from the collections and Ihelr contrlbulion lo technology. design, ciaft, creative sklll8 and musical appre¢lalion. When ¢on$idering where lo fo¢u8 our a¢tivitie$ our tw$tee'$ board have regard to the Charity CommSs81on'8 guidance on public benefrt. Structure, governance and management of the charlty The methods used to recrult and appolnt new charlty trnstee& The dlr8ctor8 of the muB8um are elther dlreclly elected from Ihe membershlp of tha museum or by external recrullmenl. They brlng lo the museum relevant qualificatlons and experienc8 galned from Ihelr professional employment. The Induction pro¢8s5 for naw truste88 eOV8rs the current guldance for charlly trustees publlshed by the Charity Commlsslon, the museum's operallon, 518 m1681on slalemenl, vision and valu8s and ils business plan. The membership 18 nolified of the nominallon and retirement of direGtor$ and are invited io elect them at general meetings. Flnanclal revlew The charity's flnanclal posltlon at the end of the year ended 31 March 2024 The financial position of the charity at 31 March 2024 and comparatives for the prior period, as more fully detalled In the accounts. can be summatised as follow5.'. The Muslcal Museum Cornp8ny ReglstrntlJn Numb•r- 02401088 Trustees, Annual Report for the year ended 31 March 2024 2024 2023 Net Income 160.181 (135.220) Unrestricted Rèvenuo Fund8 avallable for I general purposes of the charlty D8slgn8led Revanue Fund6 Tolal Unr•31rfct•d Funds $6216 6B3 272,500 328,716 120,000 120.683 Re31rf¢ted Revènu¢ Funds 10.050 1.171.817 1,181,867 Reslrlctsd Flxed A58el Fvnd8 1.134.016 1,134.016 rot01R￿tr1ct*d Funfts Total Fund8 1.462.732 1,302,550 Flnanclal r•view of tha posltlon at the reportlng date. 31 March 2024. The Museum'8 8urplus was £160.181 for the year as agalnst a def￿11 of £(135.220} for the previous year. Free reserves (In Ihé lom of unrestricted Revenue Fund8 available for th general purpos88 of the charfly) wère £56,216 at the year end (2023 - £683). Details of the movement In flxed assets and funds during the ygar ar8 Sot out In the nol&8 lo the financlal ststements. In accoTd8nce wllh 6slabllshed a¢¢ounlan¢y pollcies, Ihe financlal resu118 do nol lak8 8ecount of the 8lgnllcanl voluntary labour al all levels of Ihe operatlon of the museum. Pollcles on resems. D8slgnat8d Contlngency ReBerwe - £120,000 The Muslcal Museum re3gNes polScy Is to malnlaln sufficlenl level of reserves lo enablg normal operallng aclivities lo ¢onlinue over 8 periLThJ ol up lo 6 months should a shortfall in Income occur to lake account ol potential risks and conllngencles that may arise from Ilme to tim8. If th8 board deem the drop in income is pèrmanènt and operations would have to cease it also allows for th6 cost needed lo close and effectlvely dispose of the assets elc. Thg res8Nes policy In¢ludes no￿al running cos18 but excludes costs in Telation lo roslTiCtgd or Éndowment fund8. The designated reserve Is set at £120,000 al pffjsenl; the board revlews the level requlred annu81ty. Dgslgnatgd rès&rvè for major repalrs and renovatlon3 - £142,500 Th15 reserve Is a type of Sinking fund set asidg for major bulldlng renovatlons Ineludlng replacement of roof, windows, lrfts, fire monilollng and safety installations elc. The re5ervg provldes a basi$ for 50 % fundlng of such renovalions coupled wth grant appllcations for caplt81 projects. A survey conducted by Houn3low Council wi 2023 tecomTnended current repalr8 in excess of £29k and quotes for upgrade of the fire safety inslallalions are circa £25k. Tho 2022 Councll survey identified £963.000 of maintenanc8 rAJsts to bo provided for in the Short, medlum and longer4erm. The contingency lund and major repairs and replacement fund are currentty invested in a short- tsmi money market funds. The Muslcal Museum Company Regislraiion NLmib8r- 02401088 Trustees. Annual Report for the year ended 31 March 2024 Doslgnaled Collectlons Fund- £7500 A designated collect￿nS fund of £7.500 has been created based on recelpls from the yale of instruments in 202>24 This reservg is utilised lor awulsilion of new exh￿)118 andlor restoration of donated instruments. Avallablllty and adequacy of assets of each of the funds The board of Irusl8es is salislled Ihal the chariltys assets In oaGh fund arg avalloble and adequate to lulfil ils obllgalions in rgspeGI of eaGh fund. Detall8 of The Independent Examiner Muhammad Sohall Zafgr IAemb8r ofChart8red Inslttul• ol Manogèmonl Accotsntsnls 1 Bucklngham Pke• BelKiald Road Hlgh Wycombe Bork6hlre HP13 SHW statement of Ihe DSrector8 ' and Trustees. Responslbllltles The Gharitrfs truslees are responslble for the preparation of the accounts in accordanc8 with the 18nns of the Companle8 Act 2006, the Charftles Acl 2011 and the Charities {AcGounl$ and Reports) Regulations 2008. Noiwithslanding the expli¢il requirement in Ihe axtanl Statutory ragulallons,Iha Charllles (Accounts and Reports) Regulations 2008, to prepare the financlal slal8menl8 In accordance wtth the SORP 2005, in view of the fact that IhÈ SORP 2005 has bèan wlthdrawn, the TNslee8 delemilned lo Inlgrpret Ihls respon51billty as requlrlng them lo follow current best practice and prepare Ihe a¢coLtnls accoftllng lo the FRS 102 SORP (Statemont of Recommènded Praclice lor Accounting and Reportlng by Charilles} 2019, applicable to all accounling periods beginning on or 8fter 1st January 2019), (The SORP), . In particular. th9 Compan￿S Acl 2CQ6 and charty law require the Board of TnJ8tee8 to prepare finanGlal slatem8n15 for each flnanclal yoar which give a Irue and fair view of th9 Stale of affairs of the charity a8 at the end of Ihe financial year and of the SUTplus or defic￿ of th8 charity. preparing those financial statements the Board is requlr8d lo :. - to prepare Ihe accounts In accordance with United Kingdorn Generally Accepted Accounting Practice (United Kingdom Accounting Standards and appllcable law). - select suitable accounliro policÈes and apply them conslslenlly: The Muslcal Museum Company Registralwjn Number- 02401088 Trustees. Annual Report for the year ended 31 March 2024 make judgements and estimates that arg reasonabb and prudent; prepare the finanGial statements on the going concern ba818 unless it is inappropriatg to presume that the charity will conlinue in business., slate whether applicable aGGounling stsndards and staiemenls of recommended practlce have been followed. subject lo any materlal depariures dlsclosed and explained In the flnanGlal statements; The law requlies that Ihe truslees must not approve Ihe accounts unless Ihey are salisffed Ihal they give a Irue and fair view of Ihe stala of affairs of the charity and of the ¥urplus or deflcll of the charlly for the year. The Trustees are also Tesponslbla lor malnlalnlng adequate accounllng records whi¢h dl8cIos8 wilh redsonable accuracy at any tirne the flnanclal position of Ihe ¢harity and which ara sufficient lo show and explain the Charlty's transactlons and anable them to ensure that the flnanolal 81alemenls comply with Ihg Companl6s Act 2006 and comply wlh regulations mad0 under th8 Charllies Act. They ara also responslble for safeguardlng the assgls of th8 chaTIty and hance for taking r888onable steps for thé prevontion and dete¢llon of fraud and other Irr8gulad1188. The Trustees aT8 also rv8pon8lbl• for lh• contsnt8 ol th• Tru8t••8' re￿￿￿. and th8 81atulory reBpon8ibilty of Ihtr Indo￿ndent Examln8r In relation lo the Truslees, report Is limiled lo oxamlnlng Iho rèport and ensuring that. on the face of the reFrt there arè no malerw lnGonJot•ncl￿ vAh figures disclosed In the financbwl ?lalemenl¥. Method ol proparation of accounts- Small company provi$ion$ The flnanclal statements are set out on pages 11 lo 38. Thg flnanclal slalomenls have been prepared irrplemenung the FRS 102 SORP (Statement of Recommended Practice for Accounllng and Reporting by Chadlle312019, appllcable lo all accountlng pgrlods beglnning on or after 1st January 2019), {The SORPI, and in acaordanGg wllh the Flnanclal ReDortina Slandard 102. (effectlv8 1st Januarv 2016) Th858 flnanclal statement8 have been prepared In accordance wllh the provlslons in Part 15 of the Companies Act 20(￿. applicable to GOmpanI￿ Subje￿ to the small companie8 regSm8. Th1$ r¢p¢rt was approved by Iho board dlru8tees on 6 Novefflber 2024. Steve BaT￿tt-WhIts Director and Tiuslee The Musical Museum Report of the Independent Examlner to th8 Trustees of the charltable company on the accounts for the year ended 31 March 2024 I report lo th& Trustees ¢)n my exwnlnatjw of thg financial stat¢men18 ofthg charilabio company on pages 11 to 38 for the yeai ended 31 March 2024 which have been prepared in accordance wth the Charilies Act 2D11 (the Act} and with the Financial Reporting Standard 102. leff8ratV8 1st January 20161 as rn￿lmed by FRS 102 SORP Islalemènt of Rècommènded Practlce lor Accounllng and Reporting by Charillo$12019, appll¢abl& lo all accounb'ng period5 b8ginnin9 on or aft8r1sl J8nu8ry 20191. lTha SORP). pub115hed by th8 Charity CDmmisslon In England & Wale$ ICCEWI, and under the hi$lorical cost convention and tha accounting policAes set out on page 20. R•sp•ctl¥e r•spon¥lbllltle¥ of the TTUSteg3 and thg Indep•nd•nt ExAmlnor and t￿ basls of the report A8 descdbed on pagè 6. you. the C￿lItabl0 eornpanys TN6teès. alg) thè Dlrecaors of th8 Company for Ihe ptsrpo8e8 of Company law. Bre r88pon8Ible for tha prep8rAlion of th8 ffinandal stslemBnts In BccoYdane8 wlth tho Comp4nle8 Act 2008, the Ch8iltJg8 Act 2011 and all other 8pplicabla18w and wth Unlted Kingdr)m Ggn¢rally Accèpted Accounllng Pradico. apptlcabla Io 8mall8r 8nllttes. and for being sa11sf￿d Ih8t tho financl81 slatem8niB give g true and falrview. The Tru3tee8 conslder that the aud51 requlrement of Secllon 14411} ol the Ch8Titles Ad 20111tho Act) doe¥ not appty, and that Ihern 58 no rèqulrèmenl in thè memorarth and aMiel•s of tha charity lor th• conductlng of an audSt, gnd that tho awounts do nol require an audll in awordgn¢8 Part 16 of ¢h8 Companle8 Act 2006 and Ihal no membei or members have requ8sled an audit pursuanl lo Sectlon 476 of the Companl8B Act 2D06. As a n8equenc?, the Tiustees have elected that the financial slatements be sublect lo Independpnl examlnalton. Having satlsned my8elf that Ihe flnanclal slaiem8nt8 arè not roqulftd to bo audlted under any lègal prov181on, or olheM188, 8nd are eliglble for Independanl ex8ming1ion.11 is my rewn8ibility lo:. al oxamlno the IEnandal 8latemonts ol tha ¢harlty undèr Sectlon 145 of tho ACL. b? lollow tha appllcabl8 wocedures kn the DbrectSon8 glven bylhe Chwlty Comm189lon under 8edon 145(5llbl of the Act. Ba$18 of Ind•pond•nt Ex•mln•fJ Ststom•nt •Dd acop• ol work undortAk•n Slnce the eharftable ¢ompanrf8 gloss Incune exceede(1 £250,000, the eharitable eompaty8 8xamlner musl bo m8mbèr ol a body Ilst8d Sn sedlon 145 of the Act. I conflrm that l am qUal￿ed to undertake Ihe examlnauon becguse l am an 8Uthorised membef d charte￿ Institute tsf Management Accountants. whlth18 of thè118lèd bodles. I report In ro8pect ol my oxwnlnolion of the tharlty8 fin8n(#818tatemenlg ￿[ried oui under 8145 01 Ihe Act. In carrylng out my exBmlnallon, I have followed all applicatrAe Directions gfven by the Charity Commlssion ¥Jnder section 145151{bl of Ihe Act setting out Ihe duues of an irthpendenl examlner In relation lo thè conducling ol an Independent examinallon. An independent exarninalk)n indude8 a ieviaw ol the accounting record8 kept by Iha charltable ￿MpanY and of tho a¢¢ounUng 8y81oms enwbyed by Charita￿¢ company and a comparl$on of lh8 finoncial 818tements presented with those reco￿$.11 also kndudes consideration of any unussjal items or dSsdosur8S In the financlal stalements, and seeking explanat￿$ from you. a3 Trustees, concemlng such matters. The purpose of the examinatton 18 to e5tabli$h as far as possible thal Iheie ha￿ bÈ&n no bre3cho$ of th8fity legis￿bOn and that, on g lesl baBl$ ofemdencè raI•￿nI to th• 8mDuntS and disclosurès mado. tha finandd sial8manis comply ￿th Ihg SORP. The Muslcal Museum Th8 procedures undeflakan do rKtt wowide all ts ￿deTrce Ihatwould be rwulwed 8n audii 8nd knform4U supplled by Ihè Trustee5 In Ihp ￿r5e of Ihe exa1￿￿￿tion is not subjected to audlt 18stS OT 6nqulries and doe¥ not cover811 ihB m8ller5 that audilorw>uld ¢onwd?r In wr￿n9 at an oplnt(m. Th pl￿nts￿ And conduet4)l an aud 908s bwd the Ilmknd aysur8nee Ihat an Independent eX￿na￿On can prmde CDnsfouonlty. l ¢Jo not exprgfj¥ on aui%l oplnion ¢)n Ih8vtewglvM bythe ffinancial $tatem8nls. artd In p4rlFiulaT. I express no op1rri￿ as lo whether Ihe finanLa81 slalfjfflents Elva a Iruo 8fMI lalrvE8wof th8 aff4lr8 of tho charfty. and rny repDrt 15 lirrdted ID the mallers sel DLSI In the stalefftent below. l Fl8nn8d and pgrfotwned myex4m1nakn.(￿ so as b gatigty mysell that the objecth'v85 oflh8 independBnl 8x8MiTra￿Dn are a¢hlevEd and belore finallslng Ihe raporl l £i)lained ￿tIlen assurances Irom fh& Tw8te¢8 of all moierfal rnaliern. Independent Exomlnorf8 81atemènl Rop&rt and OplnloTr Sublertto the Ilmttallons upon the sw ofmy ￿ as detaifgd atm. I have wmtA*sd my•xarnlnaUs)n." 8nd c8n confirm Ihal'.- Thè accoun1¥ of thls (knrltoble aT8 not requlred to b• auda￿ur￿￿Ol Part 16 of thg Corrwanlès Acl 2006,. Thè gross Incomg orth• chathbl• umpany In the ￿ar endod 31 M8rch 2Iy24 appears loeKCa8d lh8 gum spttlftèd In SOC￿Ort 145131 ol th8 Act, namdy £250000. and Ihal l am qU￿1￿ed lo ala a8 Independenl Examsner I ac&)rdancè wth thal secuon by Yklue d mybalng a qutlifiEd rneMl￿r ot Ch*tsrnd In&titsl• ol Management Accounlatits; This is a report In r88P8cI DI an •xamlnalon ¢¥rted ¢xrt 145 of the A£t and In a¢¢ordanco vAlh DINdlon8 Iven by th¢ Charfty CommI681c￿ under $ocUon 145(5Xb) of Ihe Ad vthlth mgy b¢ Applltabla: and Ihat no material rnatiern have come io my allonll¢>n Ihv oxamknalkn Ol￿r￿d me ¢au$e lo belleve th81 In 8ny ma¢¢dal ￿8￿Cl..- ¢¢4Junlkn9 records were not kept h) re8PeCtol the ch8rftya• rnswhd ty Socuon 386 ofthe Cornparl¢¥ Acl 2008 and Se¢Uon 130 01 Tho Charitiv4 Art 2011. Ihe flnendal glat•monts do not 8teord vAlh tlh18• f•cfJrdB,' ( the flnonclal Jlatèmènts do not oynply applI¢gblg￿￿IieMPnls o)n(%rnlng Ihe lomi And conlenl of 4CtOLmtÈ saf wt In 6edon 396 of Ihe Cotnpanies PLt 2008 othw Ihan any rtyulrem?nl thal Ihe aG(ayJnt8 glve a Yru• and ￿ew. wklch 1$ not a mauw ttJnslder8d as Part of on Indopgndont examlnalion: hove not bpèn pmparad In accord8￿￿*th Iha artd prlnclrl8$ 8¢t wt thg FRS 102 SORP {$tslomèftt ol Rwmm¢nded Pracljce for Accoth)¥ry and R8porNng bycharftlesl 2019, appllcable to 011 accounung pgrfod8 bgwnin9 on OT 0ft8r 151 JanuBry20191 IThD SIJiP I have no ¢onom¥ and have cornè act0￿ no olher marfers in ¢orffiacUon *rilh tho oxgmlna￿oTh lo wNch aitention should be drawn In this reporlin G*de+to enAbl& a wop8r und8rstandhg ol the flnandal atalements lo be r¢tyched. SlgThed:. Tho Musical Museum Muharnmad Sohal Zalar- Independenl ExomlnÈr Ch8rteTed InstthJle olManagernenlAcwJrfants 1 Bucklngham PIAto Bellfleld Road Hsgh Wycombe Bèth$hi HP13 5HW Th15 report wa¥ $lgnod on 20 Nov8rnbèr 2024 10 The Muslcal Museum- Statement of Flnanclal Activities for the yéar endad 31 MarGh 2024 statement of FlnanclalActlvlUes (Includlng tho Income and Expendlture Account for thè year ondgd 31 March 2024. as requlred by the Companles Act 2006) SORP R•f Cur¥entyp4r UnT•slrtrted FundB Curronty••r R•sttl¢t•d Fund Cwrentyoar Total FundB Prfj￿ Y••r Total FundB 2024 2024 2024 2023 In¢omè & Endovdmonts Irom: Donatlons & Lagacl Charltable actlvlle8 Investments other A1 353,228 10.( 363,228 85,894 3,090 7,500 34,539 70,200 4,439 500 3,0 7.5C¥) Tol41 Incomg 449,7q2 10,OIy) 459,712 109,878 Expendlturè on: Ra181ng fund8 Charllabie ac￿1￿8 Bl 7,526 281,993 7,025 291.993 11.554 227,894 10,CKK) TotDI oxpendlturè 289,618 10,QOO 299.518 239.24B Nel 9aln4 on Inve8lmonts (13) 1131 15,650} Not Income lor th• year 160,181 160,181 1136,2201 Trnn•f•rn b•tw•on fund• 47,851 (47,851) N•t Income after Iran•lern A-B 208,032 147,851) 160,181 1135,2201 Not movement In fund• 208,032 147,8151) 160,101 1135,2201 Roconclllatlon of fund•:. Tolpl fund• brought forwrd 120,883 1,181,867 1,302,550 1,437.770 Totsl fund• cHrrfed l0rn14rd 328 716 1,434,016 1302 560 The'SORP Ref Ind￿al•d above b Ihg cla551ftcalkJn of incorne sel ryjl In the formal SORP (lo¢uments. Ag 18qulred by pg¥agrgph 4.80 of Ihe SORP, the broughl forward 8NI ewr*d lorward funds above have been agread lo lh8 Balanca Sheet. A Stalemenl of TotBI R8c(ty3nls¢d Galrts Losses is inthded aB a wknary 81atem&nl In these oc¢ounts. All the prlor year Iran$4CtiMs ware unre6tfKted lems, aThl M ftwlher anoty8i&18 requlred All activities derive from conlinuSng operations The noles attachod on pagtrs 20 to 36 forni an Integral part of th656 account9. 11 The Musical Museum - Statement of Flnanclal Activities for the year ended 31 March 2024 prtoryoar Prlorymr Prlor Y• Total Funds SORP Unrostslcted Fun 2023 R•BtrtGtod Fur￿8 2023 202J In¢om• & Endowments from: Donallong 8 Lega¢l&8 Charitoble octivitle Other trading o¢tWé& Inveslmeni3 Othèr A1 34,539 70,200 34.839 70,200 4,439 500 4,439 600 A5 Total In¢orn• 109.678 109,678 Expendltur• on: Ral$lng funds Charitable actlvftle8 Olh¥r 83 Tax on aurplu8 on ordlnary a¢tfvll 83 Olh•r taxatbn 83 81 11,554 227.694 11.1554 227.894 Tot•1 oxp•ndlthr• 239 248 Nel gains on Snvestrnents (6.650) 15.6501 Nel In¢om• for th• ye•r 1135Z20> 1135,2201 Tron8f•rn betsy￿n fund• Not Ineomo aftor Iran8f•rn 1140,870> 1140,8701 N•t movom•nt In lunds 1140,8701 1140,8701 R•conclllatlon of fundg:. Tatal fund• brought forward 219211 1216.559 1,437,770 Total funds carrlod forniard 78,341 1,218,SS9 1,296,900 All a¢tlvltles derlye from contlnulng operallons A Statement ofTotal Recogntsed Galrts and Losw 1$ W￿luded in these aecounis •% a saparala prlmary statement Thg nolgs attach8d on pag8s 20 to 36 forn7 an Integrnl part of the$0 accounts. 12 The Musical Museum - Statement of Financlal Activities for the year 8nd8d 31 March 2024 8¢atement ol Total Recognlsed Galns and Losses for the year endod 31 March 2024 2024 2023 8urpluB for the y•ar:. N•1 8xc•s8 of Incom ov•r •xp8ndllure from op8rationy tax R•alSs¢d 98ln¥ on disposals of soclal investment8 whlch ar8 pwramm8 related 160,194 1129.570) Ineom• from op•rntlons b•for• In th• Se•t•m•nt offFth8ndalAthlfe• 160.194 1129,5701 Addl(d8duct) non Incomo and•xp•ndlturn It¢m$.'. Unreall8ed gain8 on inveslments Net Mov•mont In fund# b•lor• t4x4tlon 13 160,181 5.650 1135,2201 Fund• gen•raled In lh• yoar ￿ •hown on Statfrm•nt of Flnanclal Actlvlu 160181 135 220 The noto8 8ttgGhed on pag8s 20 to 36 form an Integrnl part of these accounts. 13 The Muslcal Museum . Statement of Financlal Actlvities for tho year ended 31 March 2024 Tho Muslcal Museum - Resources applied In the year ended 31 March 2024 towards flxed assets for Charity use:. 2024 2023 Funds generated In t1￿ ye8r 86 detalted In th¢ SCfA 160,194 {129.5701 Nét rnsources avallable to fund charltabl& actlvltlos 160 194 129,570 Thè notes attachod on pages 20 to 36 form an Integral part of these accounts. 14 The Muslcal Museum - Ststement of Financlal Actlvltles forthe year endèd 31 March 2024 Movomonts In revenue and capltsl funds for tho year onded 31 March 2024 Revenug accumulated fund8 Uni•btrtcted Fund# 3024 To¢•1 Fund 2024 Lastyoar Tvtal Fund8 2023 FundA Accumulate*J fund8 brought foThY8rd 120.683 10,050 130.n3 229,261 R•cognl88d galns and1088e8 before transfers 180.181 160,181 1135,2201 280,864 10,050 290.914 94041 (From)￿0 unwslrl¢t¢d r•v8nu& lunds 47,851 {10.050) 37,801 38.692 Clo¥lng rmnu• fund• 328,718 328 716 130 733 Deslgnatgd r•v•nu8 funds Included wlthln tho unregtrl¢ted funds abovo Ttst•l Fund* 2D24 L•8t yoar T¢+tal Funds 2023 Al 1 Aprll Transfer {loylrom rwTrl￿ a￿UMUlated fvndB 120,000 152,500 120.0 At 31 Mir¢h 272,500 The purpoBe8 for whkh the88 fund$ have been des￿818d arn d88cthd In Not• 2110 tha 8ccounl$. Flxèd a898t fundg D••lgMhd Fund• 2024 R•strtG¢g FurKI• 2024 To Fund• 2024 La•tyoir Total Fund8 2023 AtlA￿l Tr8n$f¢r Itoyfrom revenutr lunds 1.171.817 {37.801) 1,171,817 137.8011 1,208,509 136,6921 At 31 March 1.134018 1134,016 1,171.817 Th& purposeB of tho Irdn8for8 ￿ fNed 888et lunds aré dtseiib•d kn Not• 21 to th8 accounts and under th? aemunyng policy Aecounllng for ￿pital grnnls und Ilxgd gssel fvnds.. 8ummary of fund8 UnreBtrl¢t•d Rutrlctod Fund• Tot•1 Fundi La8¢YoBr Total Fund 2024 2024 2024 2023 R•v6nue accumuLqted funds Rev8nu8 d85Sgnated fiJnd$ Fkgd asset lunds 56.215 272,500 56,215 272,600 1,134,018 10,733 120.000 1,171,817 1.134.016 15 The Muslcal Museum - Slatement of Financial Actlvltles for the year ended 31 March 2024 Total fund8 328,716 1,134,016 1A62,731 1P02,550 The notes attached on pagos 20 to 36 forni an Intggral part of the90 accounts. 16 The Musical Museum . Statement of Financial Actlvltles for tha yèar ended 31 March 2024 Tha Musical Museum Incomo and Expendlture Account for the year ended 31 March 2024 as required by tho Companles Act 2006 2024 2023 Incom• InGom$ from operatlon Refund8 from HMRC on gilt abjed donalk 442,302 6,820 104,739 Invoslment In¢Nna Incom& from investm?nl$. other thon r8celvabl& Inl¢rest r8celvoble Other operallng Incom• 1,278 1.812 7.5 3.184 1.275 500 Gfo88 Incom• In th• yéar b•for• •xc•ptlon•l It•m• 459,712 109,678 Gr088 Incom• In th• yoar Includlng •xupfjon•l It•m8 459712 109.678 Exp•ndltur• CharlI8b￿ expendlbr•, excludlng deprerlotton 8ff•Jthallon Dopreclatlon and amortl84tlon Fundral8lng ¢o8ts Governance costs Reallsed IM$og dlBposds of 8txlo1 Inv•stm8nls vthk* are programmo related 2S4,192 37,801 7,525 189.252 36.692 11,55 1.750 Total axpondlture In the yoar Ineomo b•lor• tax In Iln#n¢lal y•ar 160.194 1429,5701 Tax on 8urpluE on ordlngry act N•t Incomo altsr tax In th• Ilnanclal ymr 180,194 1129,6701 Retslned surplus for the flnanclal y•ar 160 194 129670 All actfv5tles dgrivo from conlinulrw operallon8 In 0¢wrda￿¢ Wtlh the provl¥lon$ ol the CompanlBs Act 2006. the hoadlng3 and 8ubheadlng8 used in the Incomo and Exp8ndiluTe account have been ad*d to rel￿ the spedal nature of the charitls acthTiIkn•. Th? not8s attached on pago$ 20 to 36 forni an Integral part of thesg aGcounts. 17 The Musical Museum - Balance Sheet as at 31 March 2024 SORP Notè Raf 2024 2023 Flxèd as8bt8 Ta￿blO asse18 Inve8lmenl6 held 88 flxed oss013 io A2 1,134,016 1.171.817 100.544 11 M Total flx•d as88t8 1.134,018 1,272,361 Currènl as#•ts Dèblors Investm8nl8 held eB current a88et8 Cash al bank and In hond 12 B2 5.280 262.500 60,935 24,856 13 B3 B4 5,333 Total CUTront a860ts 328,715 30,189 Net ¢urrent ass¢t• 328.715 30,189 Tha total nel as¥Ot$ of th8 chaTIty 1,462,Y31 1,302,650 Th8 total not X880ts ol th• Charlty •r• fundsd by the fund• ol the ¢harSty, a8 follovrd:. Re8trlcted lund$ R881rfcted R8venu8 Fund8 R88tr1ct•d Flxed A888t Fund8 18 D2 18 D2 10.050 1,171.817 1,134.016 1,134,016 1,181.887 Unr•8trlctsd Fund• Unr8slrfcted R8v8nu8 Fund8 18 D3 56215 883 56,215 883 Do8lgn8tod Fund8 Deslgnaled Rgvgnue Fund8 18 D3 272.500 120.000 272,500 1,482,731 120,000 1,302,550 Tot•1 charlty lunds rho'SORP Ref Indlcaled above ts the da58lficallon of Balance Sheet Item8 as 8el out in the fomial SORP documenls. A8 required by paragraph 4.60 of Ihg SORP. th8 brought fo￿Ard and carrted forward funds above have been agreed to the SOFA.. The directors are 8all8fled thal the ccffnpany IB 8ntttl8d lo ex8mption from the requirement to obtaln an audA under sectlon 477 of the Conyaries Acl 20C6. The members have not required the company to obtoin on audÈt tn accordance wilh section 476 of Ihg Act. 18 The Musical Museum . Balance Sheet as at 31 March 2024 The dlrector8 acknowledge Ihelr r8sponslbll*les for complylng twtth the requiremen18 of tho Companles Act 2006 with iespecl lo accounting records and the weparalbn of accounts. The charfty13 8ubjeot to IndepBnd8nt Examknatlon ￿KIer charity legi￿at1￿. and the report of Ihe Ind8P8ndenl Examlner18 on page 10. The ￿nancIal slatemenls have been preparad in accordance wlh tho provish)ns In Part 15 of the Companles Act 2006. appll¢ablè lo cornpanles subject lo the small compan1&8 regimo. SIBv• 8arrott.Whlie Trustso Approvad by the board ol trustèès on 6 November 2024 Tho noteB attached on pag88 20 to 30 lom) an Int•gf•l part of th￿• aGGount8. 19 The Musical Museum Notes to th8 Accounts for the year Énded 31 March 2024 1 Ac¢ountlng pollGle$ Poll¢lo$ rolatlng to tho productlon of th• accounts. Bi¥lg of preparatlon And occountlng Con¥￿tIOn The accounts have been prepartrd on the accw31B basls. under the hbtodcal cosl coTrvontion. and In accordanca with Ihg Fln8n¢l81 Reporthg Slandord 102. (effect￿* 1st January 20161 and'FRS 102 SORP IStal8m8nl of Rec(Jmmendod Pracltce for Accountlftg and R6portiTrJ by Charl￿as) 2019. akwicable to all acccyjnting perlods beginnlng on or after 181 January 2019), (The SORPI. published by Ihfy Charity Comrthlon in England & Wa￿5 ICCEWI , 8t)d In accordan¢è with 0118pplScable law In Ihg chBrity8IuTI￿KI1On of iegislr8tk*n, except that the ¢harlty ha8 prepared the financial sl#lementB in accordance wilh th8 FRS 102 SORP {Stalem#nl ol Recommended Practice lorAccountsng and RepDrtlng by Char£llesl 2019, applicable lo all aecountlng peiiods beglnning on or after 18t January 2019). (The SORPI, In pref8r8nca to the prevlous SORP. th8 SORP 2rM)5, whlch has been withdrawn. nolwthstandlng the fact that Ihe 8xlanl slalulory regulation8. the Charille8 (Accounts and Rep)rt81 R•gLthlion8 2008 refor ￿pliC￿lY to the SORP 2005. TN6 h85 b68n done to a¢Gord with Cur￿n1 b851 pracllce. Golng Conc•rn The tharftabb actfvllles ar• •nUroty dap￿￿OnI conllnulng grart aid voluntarydonallM• 08 well Ifadlng r•v8nue8. AB 8 consoquence, Ihts golng concem basls is dewd8nl on the fubjre Ilow ol thege Un￿rtaIn lundlng slr•am•. AGcordlngty, Iht Trustees havo oblalned forecasts and. after revlewng the finandal forttcAsts for future pèik)ds to 31 March 2025, tho Trustees ara s8tl8fl8d tha( at th¥ lime of approvkng lh6 ffinancial Blatern8nt8, il approprfale to adopt tha 9olng concern ba81s In preparing the finondal 6tatemgnt$. Olher than Ih&g• mgttern, th• Trust•88 are nol awaro 01 any maletlal ururtaknkns about th? chaiws abdlty to contlnue a3 a gdno eoncern. Rlgks and futur¢ ag•umptlon• The charlty ￿ o publk ben•rrt entty. Pollcles rglatlng to ¢at8gorles of Income ond Income recognltlon. In¢omo from leBa¢l85 Income from lega¢i0819 recognlsed when Ihe Ch¥￿Y suificlent Ovldonce that a gift hgs been to them, that where required, probate ha8 been granted. the executor is sali8W that the prDp8ty In question wlll not be required lo sa￿sfy claims in the 8s1918, that il is probable that the arnotml wtll be ￿e1¥ad by the charity, and Iho arnount to be received can be eslwnsted wilh sufffclenl accuracy, and that any i))nd1￿.0￿ Attached to the18gacy are e¢th8r wlthin the wntrol of tho ¢harlty or have been met. 20 The Musical Museum Notes to the Accounts for the year ended 31 March 2024 Whore a payment Is recefved from an estaie or Is notskd as receivable by the executors aft¢r lh¢ ￿￿ting dale and before the accounts are aulhorlBed lor Issue bul11 Is dear that ts payment had b88n agreed by Ihe 8xeculor8 prior lo th end of tho reporting period, then the amount ￿nCar1*￿ is treated as an adjusting event and aCCTued a5 income in Ih? ccounllng perivd ff r￿1p1 15 probabb. Wh&ro the chaAty has fj8tat4ish8d enlillemenl to alegacy but there l¥ un¢ertainty as to tho amount ofth8 paymen( det9119 of the legacy aredisclosed a8 a conllnganl asset unlil the ¢riiafla lor income iecogllltion aro mel. Where a legaoy16 Bub￿¢1 tts thè Interest ol a Ilf6 lenanl. the legacy M not recognBed as In¢>Jm& until the death of tha Sib tenant If tt t¥ doubtful that full $8tt18menl ol o legacy debtor WNI be received, Ihen gn 8dlustmenl13 mad? to reduce the amount of the legacy debtor and legacy Ineoma ralher then charging adjustment as exp8fKliture In thè Slat8mtsnl of Financlal Mombet8hlp •ubscrlptlon$ The Ir￿m6 and any •88odat•d GNI Ald or other tsx rfjlund fr(￿fi a m¢mbor8hlp 8ubseriptlon rx•fv•d by the c*arity kn t nature ol a qlft, L8 gccounled for on the Same bas15 as a donalhjn. The In¢omo from a mernb•Mhlp 8ub6crryJlitsn bytha charfty wh•r8 th• $ubscrfptk>n pur¢ha8&s th8 right lo $0rvtce8 or banefft$1g r•cognlsed a kttim• charlable adNllle•. Polkles relatlng to oxp•ndlture on goods andseNlces pmvld8d to tho ch¥rity. Re¢ogn5tlon ol Il*bllltl•¥ and •xp•ndltur• A Ilobilty, and the relaled 8xpoNllluro, Is recogn18￿ a kgal or constru¢tlvg obligalion exl8ts ag g result of a pA8t nl, And when il l¥ morè Ikely Ihan not th819 transfer ol economk benafrt8 VAI bo r•quirnd In Settlement, Hnd wh¢n Ihe amount ol tho c&lballrfft can ￿ mea8ured of reliably 8silmat8d.. Llablllllg¥ orl$lNJ from frthirtr fvndlng ccfnmltrnents and constructhe oblhJauo￿, kncludlng pprforman¢x r8l&ted gran18, where the Ilmbng or the Bmounl of Ihe lutur8 •xpendilure requlwJ10 88tt18 the Dblbalion are unc8rtaln. give rls9 to proviston In gccounts, whkhlg reviewed al th• acco￿tIng year end. Th8 provSsion IB Increased to Teflect any Increg8es In liabS1111¢8, and18 decreased by lh8 ulili98llon of 8ny provI8ion wthln thè por(od, and rev8Tsed if any prgvl¥ton Is no longer r¢qulred. The￿ Movem￿18 ar6 Charg￿ or lo the re8pe¢lfvo fuThJg and a¢tbvltle$ to whlch I provl8lon r8late5. Volunt•orB In a¢¢ordanca w5th the SORP. and In Tecognftlon of the drfficLths In pladng a monet8ry value on th& conlribvllon liom volunteers, the conldbullon of volunle8is Is not Included wlhin tho Income of Ihe ¢harlty. HOW￿Or, tho tnJ81e88 valu8 the 8lgnificanl cMtrt*ul*)n made to th• activll•8 olthe chadty by unpald volunleer8 and Ih18 1$ descrlbed Th￿)re ful￿ in Noleo. Pollcles relatlng to assets, Ilablllfles andprovlslons and othermattws. Flxed Assot Inv•stmonls FLxed asset investments In quoted shares, Ir8ded bond$, w)vestmeni propertl85 and slmlkr1nve8imernl$ arè ghown initially at C081 upon acqulsitson and at their math¢tvalu8 al tho bthce sheet dale at Ihe end oflhè financial period. Inv881menl propertbes are not depreciated. F5xed a38et 1nveytn￿nts in unhted eqLFIt1￿ we shrywn at b￿ce 8heet dalts 8t the b6st esllmata Oft￿1r market valu8, wher• practIcab￿, Whate valuation ie¢hnique5 are considergl unrèlrable or whgre, In thè oplnbn of the tru$t¢•$. the costs oU￿19h Ihe beneflts to th8 usws of the a￿KIn18, Ihe investment is nduded al cost. and a revièw ts und8rtakan at e8ch year end ag to whelher the asset should b8Writ18n down. Investment¥ In subsid1￿¥ are eaffied at hr81oTicg1 L¥J5t 21 The Muslcal Museum Notès to the Accounts for the year ended 31 March 2024 I g8ln8 on Ilxed 8888t investm￿t8, whether rea15Bed or urw6alis￿, ar6 In¢luded In B4 ofthè Slat8mgnt of Financla Acti￿￿88. Tanglble flxed essgts Tanglble fixed a8¥8ts Bre measured ?1 th8lr or*lnal ¢o$t votu6, or sub¥e9￿￿t r￿aluatIc￿, or11 donafed, as described above. Cost Value indude8 a15 costs expended in brlnging the into ts Intended worklng condiknon. Assets costlng below £1000 are capNalised. D•preclation has been provlded al the fomrwlnu ratés lft ￿der lo wrlg off th8 as8ets to their an￿pal¢d r•shJual v81 overth8lr e8tlmaied ￿￿(u1 lfve8. Leasehold wem1￿$ 2 % 8tralgtrrt In• A rngular rev1￿ ol the Ilkelknwd d 88681 knN>dm￿nllS vndertoken. Accounllng lor ¢opllal grnnt• •nd flx•d Amo1 funds. Glfts of t4nglbl¢ )Ixed assets or grants of a ¢•ptal natUTe. gpRn for the p￿P0￿•S of acquSrlng 8p¢dftc a85818 lo be fulty utllked In the lurih?rone• of the objects ol the charlty. credited lo Ilxed ass•1 lunds alter tho donated a88&1 ho8 beèn re￿fved or Bum$ hove been property eX￿ded oft th8 r68tr(cted purpo8e. Whera the lermB oflhè olft require lh& charity to hold Ihe a66el on an ongolng ba81s for a specific purptsg9, then the fved 886el fund $0 ¢regled Is ¢at6gorised as a re8trict•d r￿ed oB3et lund. and IhFJ relevant raslrkknons are noted in the flx¢d 889•1 nol• 10. Where th6 oflhe gllt art mgt (￿ce the 89881 is ar4utred. $0 alk)wSng the tharlty to Uge the as8￿ on an unro$lrlct•d boBls, In¢ludlng the fkJhl lo receiv8 Ihè proc•6ds of lulurg sale ol th¢ a8881 on an unrèslriet•d ba818. then th¢ flxed aB8el fund $0 cr•al•d18 caleuorlged a8 a desljnated fLKed a86¢l fvr¥l. Wh•n 888etB arè ocqulr•d lor the (urtharonce ofthe ¢hvW6 obl¢¢ts, ￿lI81ng the unrestrlcted funds, a tf8ngfer18 m8de I￿rn unr¢sldcied fund8 lo a dwlgnated fLxad 098el fund. Whether acqulred wilh unre8trKled or re8trict8d f￿th, th• aa8et acqukqd18 In￿gEty shown h t1￿ balane* shabt all￿ full ¢osl ol acqtsS$illon or 6ub8equ8ni rw8luation. Ag the related $88￿9 Are d8pTecwt8d, In 8ccordan¢e wlth the deprectgtSon pollty.in ordér to refiect the dlmunf(lon In th assel.a tran5for18 made fiom the rnlevanl fved asset fvnds to elther unre¥lrkled or restrl¢t¢d fevanua funds, 4ppiopriale lo the tèrms of Ihg odgln81 glft, rf any. Tha effecl oflhls polcy18 th81 lh• wegate d al fts06. R¥$lricted lund$ ar8 SUb￿cted to rèstrktknns on thgiroxp8ndknJro knpo8eAI by th• donoror Ihrough the 018n app841 or ￿ Impll•d by law. There ar8 no andt￿Mentfvnds. 2 Llablllty lo laxatlon Th8 Trug1868 conslder that t￿ charty saW8fi9s the tests sel tyjl In Paragraph 1 Schedule 6 01 Ihe Finance A¢1 2010 for UK corporation lax purp0889. Aeeordingty. the Chadty 18 potentially oxempt from taxation In respect Df Income or capll81 galns r•cefved w￿h1n catego￿•S covered by chapter 3 part 11 Df the Co￿oratIon Tax Act 2010 or Section 266 01 the T8X311on of Charg98ble G81ns Act 1992. to the extent that such Incl￿8 or gg4In& aro applbd ex¢lusNety on th8 speclfic charilabla djjecis of the charlty and for no other purpos¢. Value Added Tax Is not fully re¢tsverable by th¢ charity. and irre¢over8ble VAT19 therefore In¢lud•d In lh8 relevant ¢0gt8 In the Statement ol FSnanelal AclvlUe5. 3 Wlndlnu up or dl¥¥olutlon oftho charfty If upon winding vp or dissolution ol the charlty Ihere remaln any 8SSgts. after tho 8811sfoclTon ol debls and11?billtie5, the asB018 represented by the accumulated fund shall transferred tr• som8 other charit8blo body or bodl&g havirvJ slmlkr objects to the charfty. 4 Slgnlflcance ol tlnanclal Instrumonts to the charltys posltlon 23 The Muslcal Museum Notes lo tho Accounts for the year ended 31 March 2024 Investments held as cuffenl assets ar8 eomprised offin￿ClaI Instruments and coTr8btute the buTk r>flh8 chatitys liquld reserv8s. These investments are valued as per the accounting polci88 notè and analysed 8t nolo 14. The valu¢ of Snvestm&nts al lalr value are exposed lo market volatility in thè monèy markets. Deblots are analysed at nota 17. The amount du8 from tha ChaTitls whol￿.OWned subsidiary ts equivalent to th& nèt assets of the Subsldlary and L8 ptincip81ty represented by tho 8ub5isdiari6s inv8slment In museum equlpmenl And museum 8hop inventorie9. S Nol surplu8 boforo tax In the Ilnanclal yftar 2024 2023 Tho net surplus b•for• lax In the finandal ypar is Stated after ¢har¥NJ:" D•pr•clatlon ofthyned fixed 48$ets P•n8lon co8t8 37.801 1,980 38.692 1,688 6 Investment golng Unrnall¥•dgolM /f1088•8) and wrl¢lno down of¢anylftg v•lu Ll8ted Inv￿lM¥r$I8- UnreollBed {13) {131 {8,6501 Total unroall8•d galnil11￿5•*) •ts 13 13 6,660 Total rè•llg•d and unr•*ll8•d galn• 13 13 5.660 AJI th• galn8 and lo#￿8 In t￿ prkx year was wireBlr*ted. Unrvall¥•dgA1nsffjo88￿) and wkltlng down of caryln9 values Uited Invvstrn8nt8- Unreall$•d {5.89)) Total unr•a158od gaIn￿lo•S¢#I otc Total reall$•d and unreall••d gAln• 15,610 5,680 7 Staff costs and emolumènts S•lory co¥ts 2024 2023 Gr088 SMI8Tb8 exdudiThJ Iru$l•a8 and key mofk8ggmanl personnel Ernployefs Nallonal In8ur8nce for all staff Employorfs operating costs ofdefined conlrfbutbjn penslon schemes 103.451 3,733 79.086 2,429 1,980 1,688 Total 8alarl•J, WAg•s and r•l•W co8ts Redundancy,torniln•tlon andcomp•ns•¢lon p*ym•nts 2024 2023 Redundancy payments 23.148 23,148 The 8￿rage number of part lin￿ staff erybyed In the yearwaB 24 The Muslcal Museum Notes to the Accounts for thè year ended 31 March 2024 The average numbèr offull lim¢ slaff employed kn theyearw88 The e5tirnated full time equfvalenl number of all staff enww in thg y8afwdS Th• •StIma(￿ equlvalont numboroffvll ¢lm•slaff d￿loY•d In dllferent8¢llvltles In theye•r w•s.". Engaged on charltable actw1ti8B Tho •stlm&terl full tlm• equlvalontnum1￿0I*ll8tatt employ•das •bovo Neiih¢r lh8 tru31ee8 nor any pef80ns conneded wllh tham have T￿￿ed 8ny remunerallot) from tho charity or any relat¢d entlty, ellher in the ¢wrenl of prv)r ￿r. No omployeB8 r8¢elved emolum￿1$ {exclu¢*ThJ pen4w costs) In •xee8s ol £60,1￿0 per gnnum. 8 Dellned contrlbutlon pgnslon 9chomos The chaiity operat88 B doftnad conlrlbutlon p•￿9k￿ wth8mg, costs ofwhlth are ¥howD above. Any Ilabllltts and ass￿ assod8led vfilh th& •ch8rne are shth¥n under debtor¥ and crad(tOTS. 9 Romuneratlon and payments lo Trustges and persong ¢onnoCted wlth them No Irutle&$ or p8r8ons conng¢led with Ihwn r8cefv•d Wby raM￿eration forTruJtee 8DTvke$ from th• charlty, ty ony relaled •ntsty. except a8 noled und8T related party paymenls below 10 Tanglble Ilxed agsets Land and 8ulldlng• Plant & Machlnory Motor V?hl¢l•s Cutr•nt Y••r Total Cost At 1 Aprfl 2023 1.867.798 1,867,798 At 31 March 2024 1667 798 1667,798 D•pr•clatlvn Al 1 April 2023 Charge lor thg yaar 495,981 37.801 495,981 37,801 At 31 MarGh 2024 533,782 $33,782 Not book valu8 At 31 Mar¢h 2024 1.134,018 1134,016 At 31 March 2023 1,171.817 1.171817 Land and Bulldlngs Plant & MaGhlnory Motor V•hlcles Prlor Year Total 25 The Muslcal Museum Notes to the Accounts for tho year ended 31 March 2024 Cost 01 April 2022 1.867.798 1,667,798 01 Aprtl 2023 1.66T,798 1661798 Depreclatlon 01 Aprll 2022 Charge for lh8 yoar 459,289 36,692 459,289 36.692 01 Aprll 2023 496.981 495.981 Nat book valuo 01 Aprll 2023 1.171,81Y 1.171817 01 Aprll 2022 1.208.509 1208 509 A slgnificBnt element of Ihe fFxed as88ts wtsrts *¢quIr￿ Ihe akl of giÈni8 and there oro w$lflctlon8 upon lh• mafinor In which the a3861$ can b• dealt wilh Irnpoi￿ by the grant maklng authorftitss. All a&68t¥ 8re used lor dlr8¢t ¢hafitabkry purpos￿. 11 Inve8tm•nt$ h•ld as flxod 0888ts In¥￿tMont& In oubsldlarf•• Ll8t•d Oth¢T Cla8e•a Inv•8tsm•nt• ol knv•4tmont Total Carrylng valu•s of Inv•8tm•nts Al 1 April 2023 Revaluallon a131 March 2W24 DI$pos415 1{￿,544 {13) {100,531) 100,544 113> 1100,531) At 31 March 2024 12 DobtOT8 2024 2023 Amounts owed by group LFnd8rtakkngB and un(Iwl&%lngy kn whth tha charity haj a P8rllclpaling intere81 other dabtors {1,540} 6.820 24,856 13 Inv&stments held as current assgts at rna￿[et valuo at 31 March 2024 2024 2023 26 The Musical Museum Notes to the Accounts for th8 year ended 31 March 2024 Cash on deptssll- more than 3 months not 262,500 14 Restrlcted revenu8 Te8ervè Cuff￿1 y•ar lJnroslrfct•d FuTrd$ Currantyw Current y￿r R•8trlcted Tot&1 Fund* Funds Prlor Year Tot81 Fund• Cuff•nl y•*r 2024 2023 At 1 Aprll 2023 Ti8n3fer$ In the year 110,¢150) 110,060} At 31 March 2024 15 Income and Expendlture account summary 2024 2023 At 1 Aprfl 2023 Surplu8 oftar lax for th? ye8r 1,308,200 160,194 1,437.770 1129,570) At 34 March 2024 1.468 394 1308 200 16 Relaled party transactlon¥ A paymonl 01 £1L¥yJ wo8 rnadg io CMP PrcoJuclpJn8 Ltd In Ihe year In re9pect ol p8rfom)ance feeB lor loui Chrislmas Concerts. CMP Productions L8 ihe Iradig buslness of Chrw & Joanne p¢)w811. There were no tsther Ifansacllons wilh r•l8t•d pa￿e9 In th& year , eX￿Ptwith regard to truBte8s company ¢ard charges for payment of charfty expenBes and Iron6eclSon8 In tho ordinary cour80 ol aGtivitl¢g with Ihewhoty owned sub¥idiary Musk81 mU￿m {Tfading) Llm5tad. Thg amount due (loylfom Musical Mu$aum Trnding 81 the year end was £11.549012022- £24.8561. 17 Partlculays of how partlcular funds arn represented by assets and Ilabllltl At 31 March 2024 Umestrlctod D•slgnatod fvnd• Rv•trlct•d Totsl funds Fund• Tanglblg FLxed As¥ot8 CurrentAssets 1.134.018 1,134.018 328,715 56215 272.500 $6.215 1134 016 1462,731 27 The Muslcal Museum Notes to the Accounts for the year 8nded 31 March 2024 At l April 2023 UnT85trfct•d fund D881gnalod fuTrds R06trlcted funds Tolal Fund Tanglble FLxed ABsets Investments al valualon:. FW 8Ssel Investments c￿￿ent As8$ts 1.171.817 1,171.817 100.544 (99.861) 100,544 30,189 120,000 10,050 683 1,181,887 1302,560 18 Change In total funds over the year a$ shown In Noto 17 , analy88d by Indlvldual funds Fundo brouoht Movom•nl In lorward IroTh fund¥ In 2024 Tran8f•rn bgtsvoen fund8 In 2024 Fund• cirrf•d loThvard to 2023 2026 8e• Not• 1• 800 Not• 20 Unrn¥trlctod and d4slgnat•d funds... Unre8trl¢t¥d Revenue Funds De85gnaltd Revenue 180.181 1104,849) 162,600 56.215 272,500 120.CKJO Total unrn8trl¢tad And d•slo￿ted lurbd• 120.683 180.181 47,851 328716 R￿trIctsd fundss Reglrl¢t•d Flxed A8¥et FuThYg Re8l¢kted Rw•nue Fund• 1,171,817 10.050 137,801} 1,134,016 110.050) Total T￿trIct•d fund¥ 1 181867 1134 018 Total eh•rlty funds 1302,550 160,181 19 Analysls of movemgftts In funds ovor the year as shown In Note 18 othor lrtom• Exp•ndltur¢ Galm & MovFm•nt Loss89 Sn fund• 2024 2024 2024 2024 Unrestrlctsdand d8slgnatod fvnds.". Unrestrlded Flevenu6 Fund8 449,712 (289,518) {13) 160,181 R•strlel•d fund8.". Restrlcted Revenua Funds 10.(KJD (iO,ODOI 459,712 299,S18 (13 160,181 28 The Muslcal Musaum Notes to the Accounts for the year ended 31 March 2024 20 D6talls of transfers betWo6n funds The trnnsf•rn Shown In noto 18¥bo￿ •r•.". 2024 Tol(froml Unrestricted Revenue Funds In a￿dar￿ wllh Ihe pollcy'knunllng for capltal gr8nts and fNed 85$01 funds,. Tolllroml De819n8ted Revenue Funds Tol{froml Restflcted Fwl As881 Funds Tcdlfrom} Restrieled Revenue FLmd8 1104,6491 152,500 137,801) 10,050 Net tran8f•r 21 The purpose8 for whlch th• fund8 Unr•sirfct•d •nd deslgnal•d lunds... The80 fuThl8 are hèid lor th• meetlng th• oblectfves of Ihe charity, and to provide fe5erve$ for fuiure activilles. and. 8ubS•ct to th8rlty teg1$18llon. lrne Irom 81 re8tricllons on th•if use. TN8 fvnd r8preBent8 a r•seNe lo prDvkJa months of 0￿rating expgn888 and expected ¢108ing costs ol tha museum In tho ovenl of a Fwmanonl dknuntpjn In tho level ol lThcom8. Th18 lund represents a re8erv8 to provide for malor repalr6 and r•novatloni De8ignBtod maloT repalrn and r•pEac•m81 to tho bul*JlrvJ and repl#c6ment ot Inlogral fixture8, fiNngs and equlpm•l re$•rv Unr88lrthd Revenue Fl￿de Do6￿n#t•￿ Contingen¢y Fund Thls fund has boon CTeated bgsed on Tecelpl8 from the of Inglrum8nt8. Tho re$&rve 18 u141$ad for acqulsthon ol new exhiblis ondlor r8stor•lion ol Instr￿llerts. DB$lgnat¢d Coll8¢don8 Fur•J Rosfrlot•d lund8.'. ReBlrl¢t¢d Fixed A8$¢1 Funds The pury)088 ollhtsaè lund818 de8crfbwl uTrJer th• aexountlng poky 'AcC￿n11n9 foi ¢apltal gr￿ts and fixed ass•1 ftmds.. 22 Ultlmata controlllng party The ch8rNy Is under conlrot of It818gAI memkn. Ev•ry mernber ol the Company ￿dertakeS to eontrlbuig Burh omount a8 may b8 req￿red nol oxceeding One Pound to the Dsstrts ol the Company rf It should b8 wound up while he is a rnern￿r or wllhln ono year after he ceases lo be a membor. lor paymont of the deb18 and liabirrtkn ￿ the Company contracted btsfore he cgas85 to b8 a memb&r. and ol the C06ts, charges and expen8e5 ofwinding up. and for the adjustmenl ofth8 rfghls oflho contribuiortes wnong Iham88lv88. 29 The Muslcal Museum Detslled analysls of Incom8 and expenditure for the yoar ended 31 March 2024 as requlrad by the SORP 201 S Thls analysls Is classslfled by cOn￿n(lo￿al nomlnal descrlptlons and not by a¢flvlty. 23 Donalions. Grants and Legacles Cwront yoar Cuvr•nt￿r Curr•nt yO8T thir￿trICted R•slrlGt Tot*1 Fund¥ Fund• FundB Prloryaar Total Funds 2024 2024 2024 2023 Donatlons and glfts from Indlvldualj Sm811 donotlons Indivldually less than £1000 R6fund8 from HMRC on gift alded Andrew GrMlh$- Wudltzer R￿0vatIon 28.898 28.898 4,169 6.820 6.820 10.CKIO 10,000 S. Fllzger*kl 8,000 GoFundMe Crowdfundlng Hppeal 15,674 15,674 V C Hopkin8 1,000 Tolal donotlon8 and glfts from IndSvldual$ 68,390 10,000 68,390 4.169 Curr•nty•ar Unr•Jtrl¢¢•d Fund• Cutt•nt yg•r R¢$trlct•d Fynd• y•af Total Fund• Prlor Y•ar Total Fund• 24 2024 2024 202J Logacles r•colvabl Small lega¢l8s 1ndividvallylo￿ than £1000 1,037 1,037 Eslale of Mr L￿118 Samud 262,5CA) 262.600 Lilllan Lewry Legacy 17,916 17,916 Kenneth harold Scolt 5,000 Total leBacles racglvablo 281,463 281,463 s.oo Curr•nt yur Currnnty•ar Un￿111¢¢ R•strlcted Fund¥ Fund Curr•nt yo•r Total Fund# Pr]or Y••r Total Fund¥ 2024 2024 2024 2023 Revonug grants from govèmmont and publlc bodles Small grants indNldu81ty less than £1( 340 30 The Muslcal Musoum D8tailod analysls of Incomo and expenditurn forthe year ènded 31 March 2024 as requlred bythe SORP Z015 Arts Councll 10,510 Totsl publlc 8g¢tor rovgnuo grants 10,860 eurianlyear Unreslfl¢t¢d Funrf• urr•nt yoar R88trl¢ttd Fund8 Cuyront year Total Fund8 PrforY&&r Ttstsl Fund8 2024 2024 2024 2023 Rev•nu& grnnt8 and donatlon¥ from non publ1¢ bodlgs Glft Ald Donallons from 8ub8kJlofbs 7.197 7,197 14,035 SIT Elty Kadooder Sons Ltd 1,000 The Clly of Lordln PP¥ywraph & Gramophone Socltrty 2.5CKI 2,SOO Total prlvate sector rovonue grnnts 10,697 10,697 14,036 Revenuo grants and donatlong Irom non publ1¢ bodl•8 Ilnclude Glft Ald donatlonB from ub8ldl8rlMI . Prlor Y•ar aMIy81s Prloryur Unreslwlct4d Fund• PTlorY•4r R•8trl¢t•d Fund• PtltsrY•ir Tot41 Fund• 2023 2023 2023 Curmnt ￿or VnTUtriet•d Funds Curf•nty•llr RoJtrTclod Fund8 Curr•nt yur Tolal Fund• Prforymr Totsl Fund# 2024 2024 2024 2023 Mernb8rshlp subscrlpllons 08 donatlonts 2.688 2.68B 485 Total Donations, Grants and Legacles Total Donations, Grants and A1 Lega¢los 353228 10.000 363.22B 34,639 31 The Muslcal Museum Datalled analysls of income and oxpenditure fortho year ended 31 Narch 2024 as requlred by th• SORP 2015 24 Income from charltablè a¢tlvitlgs- Tradlng Actlvltl89 Current year Currqntyaar Curr•ntypar Unre¥trl¢lod R•81rlct•d FuThd* Fund• 2024 2024 CuTront yoar Tolal Funds PrlorYe•r T*￿ fund8 2024 2023 Prlmary purpos• and anelllary Iradlng Adm188ion fèes- Eyhibillons and galleries 24.668 24,66B 22,408 Tlckal Sale8 Commlsslon ReceI￿d- charllablè oclfvillos Paiklng Incom• 25,237 26,237 13,918 1,265 1,26S 8.634 8,634 8,723 Hall Hlro 26.090 28,090 25,101 Totol P￿mary purpo8• ond anclllary tradlng 5.894 70,200 85,894 25 Totsl InGom• Irom ¢harbtablè actlvllla Curr•nt y••p Unf•8twlct•d Fund• 2D24 Curronty••r R•8trkt*d Fund• 2024 Curr•nt ymr Tot41 Fund Prlor Yèar Cutrentyear T¢4ts1 Fund• 2024 >023 Tolal Income Irom chgrltable Ifadlrg 85,894 68.894 70,200 Totsl Imm ¢harltsblo actlvlths 85,894 70,200 26 Inv8stment Income Cuwr4nt yo•r UnTO8trfcled FUT Curront yo•r R&8lElct Fund• Curr•nt yo•r Total Funds Prforygor Total FundB 2024 2024 2024 2023 Dlvldend Incom8 Bank Inler8St Rec8lvablo Non Bank Inleresl rece5v8ble 1,278 1.123 3,164 1,123 1,275 Toial Investrngnt Income 3.09D 3,090 4,439 27 Othor income and gains 32 The Muslcal Museum D8talled analysls of income and expendlture for the year onded 31 March 2024 as rèqulred by the SORP 2015 Current ye*r Unrestrtclod Fund• euTrent year R•strlGt•d Fund8 curr•nty￿T Tol•l FundB prtoryear Totsl Fund¥ Currentyear 2024 2024 2024 2023 Insurance claims - Ravenw Items Sale of Instruments 500 7.5LY> 7.60D Total other Incomè 7,600 7,60D 28 Expendlturé on ¢harltablo actlvitios - Dlrecl 8pendlng Curr•nt ymr Unrfr8trlrt•d Fund• Curronl y•4r Currnnt yt•r PrSDrYMr R•8¢rSct•d Totsl Fund• Totsl Fund* Fund• Current Year 2024 2024 2024 2023 Gros8 wage8 and salarle8 - charitabl• acllvllles Employers, Nl - Charitable aelpiiti08 D8fined contrlbullon penslon cost8 charitable activllles Travel and Subsistence- Charitable A¢livltles Musical Instrumonts Consetvation Museum display Museum equipment Staff Irainlng & Welfar8 103,451 103.461 79,088 3,733 3,733 2,429 1.980 1,681 2,184 1,246 2,184 3.180 83 10.( 13,180 83 32 17,882 1.146 1,146 Total dlrect spendlng B2a 11S,767 10,IJOO 125,767 103,243 29 Support costs for charltable actI￿lIeS Curr•At y*ar Unrestrfct•d Fund8 Curronlyear Ro¥trl¢ted Fund• Curront year PtlorY•ir Total Fund• Total Fund* Current Year 2024 2024 2023 Employoé costs not Included In dlrect cosls Redundancy payment5 23.148 23,148 Premlses Exponsas Llght heat and power Cleanlng and waste managemenl Premises repairs, renewals and maintenance Property insuranGe Furnilure and off￿e equlpmenl 30.870 4.616 30,670 4.616 23,967 4.189 12,726 8,477 6.477 10.917 10,917 11,217 The Muslcal Museum Detailed analysis of Incomè and exponditure for the year anded 31 Ma￿h 2024 as requlred bythe SORP 2015 Adminlstrative overheads Telephone. fax and internet Postage stationery and printing Memb8ishSp sub¥cflptions Sothvare Ilcences and 8xpens8s Advertislng and markeling Liabllty and conlents insurance Sundry 8xpen$e$ Refreshments MeTchanl card proG8sslng costs Irrecoverable VAT 4,344 164 3.145 1.365 13,388 8,119 2.7( 4.011 4,344 164 3,145 1,386 13.388 8,119 2.708 4,011 2.42q 28 2,285 1,594 14.374 3,502 2,508 13 156 3,189 2,6B1 1,294 10.533 1.294 10,533 Prof•sslonal foes pald to the Audftor orlndependwt Examlner In addltlon to audlt and examlnatlon fees As delai18d In Note 30 2.643 2,643 751 Professlonal fees pald to advlsors other than the audltor or oxamlner Olher legal and professlonal 833 833 Flnanclal costs Bank charges DepTe¢lation & Amortlsallon In totsl for 60 37,801 72 38,692 37,801 Support costs bèfor6 reallocatlon 166.236 166,236 122.701 Total support costs - Currant Yèar 166,236 166,238 122,7Q1 Th¢ bo818 of althallon of costs be￿n act￿1￿5 l# d6scdb8d under accounllryJ polld68 All the expendlluro In the prfor yearwas UnrnStdct￿. Admlnlstratlva overheads Professlonal fees pald to the Auditor or Ind•pondent Examlner In addllion fo audit and oxamlnatlon fees The ba318 018110¢otlon of costs betw￿1) 8Cti￿￿eS Is de8cribgJ under 8ceounlkng p￿ICleS 30 Other Expendllure - Govemance costs Curt•nty*ar Unre5tr1ct•d Currenty•ar Re8trl¢t¢d Fund• Cuwront y Total Fund8 prtorY¢•r Tot•1 Funds Current Year 2024 2024 2024 2023 The Muslcal Museum Detailèd analysis of Income and expenditure for the year endèd 31 March 2024 a8 requlred by the SORP 2015 1nd8￿nde￿t Examlnerfs fees 1,750 Total Govemance costs 1,760 Pmfesslonal fees pald to tha Auditor orlndependen¢ Examlner in addltlon to aud1¢ and •xamlnatlon fé Curr•nt CurMIt y•4r CuFront y•*r PrlorY•ar UnrgsttlGt￿ R•8trlcl Tot*1 Fund• Total Fund• Fund• Fund8 2024 2024 2C+24 2023 Fe48 pald to the ex8mlneV8 fi 2.643 2,843 751 Total addltlon81 fe95 Includ￿ In 8UPPOrt costs at Noto 29 2,643 2,843 7Jl All th8 •xp8ndiluTe In Ihe prfor yearwa8 Imr08tricte(L All tho expendllurè In Ihe prfor yaar was unrestrfcted. Professlonal fees pald to the Audltor or Independant Examlnerln addltlon to audlt and amlnatlon fees PrlorY8ar Unr••trf¢l•d Fund• Prlof Ymr RMtrl¢t•d Furtd• PrlorY•¥r Total Furtd• 2023 2023 2023 31 Total Charltable expondlture Curr•nI￿r Unro•lTlet•d Curr•nly• Ro8trlct0d Fund• Curr•nty8•r PrlorY••r T?til Fund# Total Funds Current Year 2024 2024 2024 2023 Total diiect spending Total support costs Total Governance costs B2a B2d B20 115,757 166.236 10.000 126,767 166,236 103.243 122,701 1.750 Total Gharltabla gxpondlture B2 281.993 10.DOO 291,993 227,894 I the expendttur8 h the wlory•8rwas unmtrlCt￿1. PrEor Year UnroslrJct•d Funds prtorY•ar RestrSct•d Fund8 Prloryoar Total FundB Prlor Year 2023 2023 2023 The Musical Museum Detailed analy51$ of income and expenditur• for the year endad 31 March 2024 as roqulred by the SORP 2015 Tolal direct spendlng Total support C051s Total Governance costs B2a B2d B2e 101243 122.701 1,750 103,243 122,701 1,750 Total charltabl8 oxpgndlturo B2 227.694 227,084 32 Expendlturè on ralslng ftsnds and costs of Investment managomènt Curr•nty•ar ¢¥rr•nt yellr PrSotY•ar RwtrScf•d Totsl Fund Tot•1 Funds Funds CwrBnt y•ar Unrutrlcl•d Fund• Current Yoar 2024 2024 2024 2023 Fundraising cosls - concerts and event8 7,525 7.520 11,664 Total fundralslng costs 7,626 7.625 11,554 All th8 expendllure In Ihe wknr year was unreslrtcled.