REGISTERED COMPANY NUMBER: 05114387 (England and Wales)

REGISTERED CHARITY NUMBER: 1106238

REPORT OF THE TRUSTEES AND

FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2025 TO 31 MARCH 2026

FOR

SCARBOROUGH MUSEUMS, CULTURE

AND CREATIVE TRUST

Page

Reference and Administrative Details

1

Report of the Trustees

2

Independent Examiner's Report

3

Statement of Financial Activities

4

Balance Sheet

5

Cash Flow Statement

6

Notes to the Cash Flow Statement

7

Notes to the Financial Statements

8

to

16

TRUSTEES

Dr K M Strang

Mr J C Harris

Mrs S A Gorham

Ms L E Frostick

Mr A P Spawforth

Councillor Martin Myers

COMPANY SECRETARY

Mrs J S Lowery

REGISTERED OFFICE

Woodend

The Crescent

Scarborough

North Yorkshire

YO11 2PW

REGISTERED COMPANY NUMBER

05114387 (England and Wales)

REGISTERED CHARITY NUMBER

1106238

INDEPENDENT EXAMINER

Fortus Limited

Business Advisors & Accountants

5 & 6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the period 1 September 2025 to 31 March 2026. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).

FUTURE PLANS

As mentioned in the previous periods report, North Yorkshire Council executive committee voted unanimously to approve a recommendation and request from SMCCT to transfer operations of the Trust back to the local authority and, as a result, the charity handed back operational responsibility for the service to NYC on 1st July 2025.

Since then, the trustees and leadership team have been committed to ensuring a smooth handover process in the best interests of all stakeholders.

The accounts reflect the final transactions of the Trust, prior to passing on surplus funds to North Yorkshire Council, as agreed by the Charity Commission.

STRUCTURE, GOVERNANCE AND MANAGEMENT

Governing document

Scarborough Museums Trust is a charitable company limited by guarantee and which was incorporated on 28th April 2004. It is governed by its Memorandum and Articles of Association, as amended by special resolutions dated 14 January 2005, 4 March 2009, 19 May 2010, 29 July 2011,26 October 2012 and 15 September 2025 and is registered with the Charity Commission. In the event of the company being wound up, members are required to contribute an amount not exceeding £1 each.

As set out in the Articles of Association, the number of trustees shall be not less than three but no more than fifteen.

In order for the Trust to be able to transfer over any surplus funds/assets from the Charity to North Yorkshire Council, an amendment to the Articles of Association under Point 8.1 Residual Assets needed to be made. Therefore, the following Special Resolution was agreed;

That the Articles of Association of the Company be and are hereby amended by replacing Article 8 (Residual Assets) with a new Article 8 (Residual Assets) to read:

If the Charity is wound up or dissolved and after all its debts and liabilities have been satisfied there remains any property, it shall not be paid or distributed among the Members but shall be transferred to North Yorkshire Council, to be used for charitable purposes similar to the Objects, with the approval of the Trustees having obtained such consents from The Charity Commission that may be required.

CESSATION OF TRADING

The charitable company ceased activities on 30 June 2025.

Approved by order of the board of trustees on 20 April 2026 and signed on its behalf by:

Mrs S A Gorham - Trustee

Independent examiner's report to the trustees of Scarborough Museums, Culture and Creative Trust ('the Company')

I report to the charity trustees on my examination of the accounts of the Company for the period 1 September 2025 to 31 March 2026.

Responsibilities and basis of report

As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:

1.	accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or

2.	the accounts do not accord with those records; or

3.	the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or

4.

the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.

Mr P B Dixon FCA

Fortus Limited

Business Advisors & Accountants

5 & 6 Manor Court

Manor Garth

Scarborough

North Yorkshire

YO11 3TU

20 April 2026

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

Notes

£

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

2

-

-

-

157,488

Charitable activities

4

Rotunda museum and art gallery

1,790

-

1,790

187,733

Investment income

3

41,728

-

41,728

1,862

Local authority - Service level agreement

5

-

-

-

614,258

Total

43,518

-

43,518

961,341

EXPENDITURE ON

Raising funds

6

-

-

-

16,514

Charitable activities

7

Rotunda museum and art gallery

4,079

-

4,079

998,783

Other

10

-

-

-

49,940

Total

4,079

-

4,079

1,065,237

Net gains on investments

-

-

-

8,147

NET INCOME/(EXPENDITURE)

39,439

-

39,439

(95,749

)

Transfers between funds

18

9,886

(9,886

)

-

-

Net movement in funds

49,325

(9,886

)

39,439

(95,749

)

RECONCILIATION OF FUNDS

Total funds brought forward

38,088

9,886

47,974

143,723

TOTAL FUNDS CARRIED FORWARD

87,413

-

87,413

47,974

2026

2025

Notes

£

£

CURRENT ASSETS

Debtors

15

-

994

Cash at bank

88,313

51,890

88,313

52,884

CREDITORS

Amounts falling due within one year

16

(900

)

(4,910

)

NET CURRENT ASSETS

87,413

47,974

TOTAL ASSETS LESS CURRENT LIABILITIES

87,413

47,974

NET ASSETS

87,413

47,974

FUNDS

18

Unrestricted funds

87,413

38,088

Restricted funds

-

9,886

TOTAL FUNDS

87,413

47,974

The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 March 2026 in accordance with Section 476 of the Companies Act 2006.

The trustees acknowledge their responsibilities for

(a)	ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.

These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.

The financial statements were approved by the Board of Trustees and authorised for issue on 20 April 2026 and were signed on its behalf by:

Mrs S A Gorham - Trustee

Cash flows from operating activities

Cash generated from operations

1

(5,305

)

(179,747

)

Net cash used in operating activities

(5,305

)

(179,747

)

Cash flows from investing activities

Sale of tangible fixed assets

-

37,635

Sale of fixed asset investments

-

146,156

Interest received

228

1,862

Dividends received

41,500

-

Net cash provided by investing activities

41,728

185,653

Change in cash and cash equivalents in the reporting period

36,423

5,906

Cash and cash equivalents at the beginning of the reporting period

51,890

45,984

Cash and cash equivalents at the end of the reporting period

88,313

51,890

1.	RECONCILIATION OF NET INCOME/(EXPENDITURE) TO NET CASH FLOW FROM OPERATING ACTIVITIES

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Net income/(expenditure) for the reporting period (as per the Statement of Financial Activities)

39,439

(95,749

)

Adjustments for:

Depreciation charges

-

14,625

Losses on investments

-

(8,147

)

Interest received

(228

)

(1,862

)

Dividends received

(41,500

)

-

Decrease in stocks

-

10,721

Decrease in debtors

994

16,823

Decrease in creditors

(4,010

)

(116,158

)

Net cash used in operations

(5,305

)

(179,747

)

2.	ANALYSIS OF CHANGES IN NET FUNDS

At 1.9.25

Cash flow

At 31.3.26

£

£

£

Net cash

Cash at bank and in hand

51,890

36,423

88,313

51,890

36,423

88,313

Total

51,890

36,423

88,313

1.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention, with the exception of investments which are included at market value.

Income

All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.

For donations and grants to be recognised the charity will have been notified of the amounts and the settlement date in writing. If there are conditions attached to the donation or grant and this requires a level of performance before entitlement can be obtained then income is deferred until those conditions are fully met or the fulfilment of those conditions is within the control of the charity and it is probable that they will be fulfilled.

Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

Taxation

The charity is exempt from corporation tax on its charitable activities.

Fund accounting

Unrestricted funds are available to spend on activities that further any of the purposes of the charity. Designated funds are unrestricted funds of the charity which the trustees have decided at their discretion to set aside to use for a specific purpose. Restricted funds are grants and donations which the donor has specified are to be solely used for particular areas of the Trust's work or for specific projects being undertaken by the Trust.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Pension costs and other post-retirement benefits

The charitable company operates a defined contribution pension scheme. Contributions payable to the charitable company's pension scheme are charged to the Statement of Financial Activities in the period to which they relate.

2.	DONATIONS AND LEGACIES

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Donations

-

8,579

Grants

-

148,909

-

157,488

Grants received, included in the above, are as follows:

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Arts Council England

-

135,214

Museum Development Yorkshire

-

4,115

North Yorkshire County Council (Now North Yorkshire Council)

-

6,255

Arcade Arts Ltd

-

3,000

Other grants

-

325

-

148,909

3.	INVESTMENT INCOME

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Shares in group undertakings

41,500

-

Deposit account interest

228

1,862

41,728

1,862

4.	INCOME FROM CHARITABLE ACTIVITIES

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

Activity

£

£

Admissions

Rotunda museum and art gallery

-

81,444

Retail and refreshment sales

Rotunda museum and art gallery

-

33,447

Miscellaneous income

Rotunda museum and art gallery

1,790

72,842

1,790

187,733

5.	LOCAL AUTHORITY - SERVICE LEVEL AGREEMENT

Prior to the transfer of operations to North Yorkshire Council, the charity received income from the local council under the terms of a service level agreement for the operation of the museum and art gallery and this is shown separately on the face of the Statement of Financial Activities.

6.	RAISING FUNDS

Other trading activities

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Purchases

-

16,514

7.	CHARITABLE ACTIVITIES COSTS

Direct

Support

Costs (see

costs (see

note 8)

note 9)

Totals

£

£

£

Rotunda museum and art gallery

979

3,100

4,079

8.	DIRECT COSTS OF CHARITABLE ACTIVITIES

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Staff costs

-

552,125

Other staff costs

-

7,543

Premises

-

92,672

Supplies and services

979

164,041

Professional services

-

8,685

Grant project expenditure

-

137,215

Depreciation

-

14,628

979

976,909

9.	SUPPORT COSTS

Governance

costs

£

Rotunda museum and art gallery

3,100

Support costs, included in the above, are as follows:

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

Rotunda

museum

and art

Total

gallery

activities

£

£

Accountancy fees

1,470

2,500

Legal and professional fees

1,630

19,374

3,100

21,874

10.

OTHER

Other expenditure on the face of the Statement of Financial Activities relates to the value of assets that were passed over to North Yorkshire Council on the 30th June 2025, following the agreement by the local authority to take over the running of the attraction's from that date.

An amendment was made to the Articles of Association to allow for these transfers to be made and reads as follows:

If the Charity is wound up or dissolved and after all its debts and liabilities have been satisfied there remains any property, it shall not be paid or distributed among the Members but shall be transferred to North Yorkshire Council, to be used for charitable purposes similar to the Objects, with the approval of the Trustees having obtained such consents from The Charity Commission that may be required.

11.	NET INCOME/(EXPENDITURE)

Net income/(expenditure) is stated after charging/(crediting):

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Depreciation - owned assets

-

14,627

12.	TRUSTEES' REMUNERATION AND BENEFITS

There were no trustees' remuneration or other benefits for the period ended 31 March 2026 nor for the period ended 31 August 2025.

Trustees' expenses

There were no trustees' expenses paid for the period ended 31 March 2026 nor for the period ended 31 August 2025.

13.	STAFF COSTS

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

£

£

Wages and salaries

-

508,061

Social security costs

-

26,297

Other pension costs

-

17,767

-

552,125

The average monthly number of employees during the period was as follows:

Period

Period

1.9.25

1.4.24

to

to

31.3.26

31.8.25

Charitable activities

-

19

No employees received emoluments in excess of £60,000 during the prior year.

14.	COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - PRIOR YEAR ONLY

Unrestricted

Restricted

Total

funds

funds

funds

£

£

£

INCOME AND ENDOWMENTS FROM

Donations and legacies

8,577

148,911

157,488

Charitable activities

Rotunda museum and art gallery

187,188

545

187,733

Investment income

1,862

-

1,862

Local authority - Service level agreement

614,258

-

614,258

Total

811,885

149,456

961,341

EXPENDITURE ON

Raising funds

16,514

-

16,514

Charitable activities

Rotunda museum and art gallery

785,669

213,114

998,783

Other

49,940

-

49,940

Total

852,123

213,114

1,065,237

Net gains on investments

8,147

-

8,147

NET INCOME/(EXPENDITURE)

(32,091

)

(63,658

)

(95,749

)

Transfers between funds

(16,156

)

16,156

-

Net movement in funds

(48,247

)

(47,502

)

(95,749

)

RECONCILIATION OF FUNDS

Total funds brought forward

86,334

57,389

143,723

TOTAL FUNDS CARRIED FORWARD

38,087

9,887

47,974

15.	DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

-

994

16.	CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Trade creditors

-

36

Other creditors

-

1,178

Accrued expenses

900

3,696

900

4,910

17.	ANALYSIS OF NET ASSETS BETWEEN FUNDS

2026

2025

Unrestricted

Restricted

Total

Total

funds

funds

funds

funds

£

£

£

£

Current assets

88,313

-

88,313

52,884

Current liabilities

(900

)

-

(900

)

(4,910

)

87,413

-

87,413

47,974

18.	MOVEMENT IN FUNDS

Net

Transfers

movement

between

At

At 1.9.25

in funds

funds

31.3.26

£

£

£

£

Unrestricted funds

Unrestricted funds

38,088

39,439

9,886

87,413

Restricted funds

Arts Council - School and Museum Partnership

6,886

-

(6,886

)

-

Paul Hamlyn Foundation

3,000

-

(3,000

)

-

9,886

-

(9,886

)

-

TOTAL FUNDS

47,974

39,439

-

87,413

Net movement in funds, included in the above are as follows:

Incoming

Resources

Movement

resources

expended

in funds

£

£

£

Unrestricted funds

Unrestricted funds

43,518

(4,079

)

39,439

TOTAL FUNDS

43,518

(4,079

)

39,439