The trustees present their annual report and financial statements for the year ended 31 December 2025.
The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the charity's Memorandum and Articles of Association, the Companies Act 2006 and "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).
Purposes and aims
Our charity's purposes are as set out in the objects clause contained in the company's Memorandum of Association:
To restore and promote the permanent preservation, for the benefit of the public generally and especially the inhabitants of the city of Londonderry of a Memorial at the Royal Bastion, City Walls, Londonderry to the Late Reverend George Walker, joint Governor of the city of Londonderry during the siege of 1689 and
to establish and maintain for the education and benefit of the public generally and especially the inhabitants of the city of Londonderry museums, interpretive or heritage centres within the City Walls of Londonderry to depict by display and chronicles, the attainments of the Scottish, English and French Protestant settlers and descendants in the City and County of Londonderry with a permanent feature on the events of 1688 – 1689 incorporating the Reverend Doctor George Walker’s influence on the besieged and his subsequent national acclaim
The focus of our work
Our main objective for the year
to provide tours and exhibitions for the benefit of the public relating to the Glorious Revolution of 1688, with history and heritage around the walls of Londonderry through the siege heroes trail and other events within the city
Who use and benefit from our services?
Our objects and funding focus on the promotion, education and preservation of the historical events surrounding the Great Siege of 1689 and the benefit extends to the general public within Northern Ireland and Ireland, international visitors, educational bodies and cross community initiatives. A core element of the project will be the development of new teaching materials on the history of the Great Siege, for primary and secondary schools, which will link in with both the Northern Ireland and Ireland educational syllabuses
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The Siege Museum is delighted to continue welcoming cultural groups, community associations, school parties, university students, and individual visitors throughout the year. We were especially pleased to host international academics introduced by Queen’s University, along with students from several U.S. universities undertaking studies in conflict resolution.
Across these visits, guests consistently remarked on the value of the museum and its interpretation in deepening their understanding of the complex journey toward peace in Northern Ireland. The gallery remains a welcoming and reflective space for all who wish to explore, recognise, and appreciate the culture and legacy of the Great Siege of Londonderry.
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Special visitors:
We were honoured to welcome several distinguished guests during the year:
Wednesday 5th March - Gordon Lyons MLA, Minister for Communities, engaged in a positive discussion on the role of the Apprentice Boys Association and the museum’s importance as a centre of understanding and reconciliation.
Tuesday 7th October - The museum was pleased to welcome Duane Farrell, Executive Officer of the Honourable The Irish Society, accompanied by the newly appointed Board. The delegation was received by museum staff and provided with a comprehensive guided tour of the exhibition. The visit offered an opportunity to showcase the museum’s ongoing work in heritage preservation, community engagement, and educational outreach.
Thursday 9th October - Gavin Robinson M.P., Leader of the Democratic Unionist Party, toured the museum and discussed a potential application to the Executive Office for funding to restore urgently needed areas of the building.
Tuesday 28th October - Laura McCorry, CEO of Tourism NI, visited the Memorial Hall for a guided tour of the museum and historic tower. The visit provided an opportunity to discuss funding proposals for a bespoke viewing area, aimed at enhancing the visitor experience, increasing footfall, and supporting the long-term sustainability of the Memorial Hall
Thursday 4th December - Baroness Anderson, NIO Spokesperson in the House of Lords, was welcomed at Walker’s Plinth before commencing a tour of the museum. Before her departure, the CEO presented her with a copy of The Siege of Londonderry by C.D. Milligan, as a token of appreciation and to mark the occasion.
Funded projects:
We are grateful for the support of funding bodies whose contributions have strengthened our operations:
Derry City & Strabane District Council – Cultural Organisations Fund: £5,650 secured for museum overheads, guaranteed for three years.
DC&SDC Heritage Animation and Visitor Servicing Fund: £11,350 awarded to support staff salaries and summer animation programmes.
Department of Foreign Affairs Reconciliation Fund: €33,740 (£28,791) provided for 12 group visits, including tours, refreshments, travel, lease of Trench Art exhibition and siege booklets, plus funding for a part-time staff member.
Urban Village Funding: £9,803 support secured to bring N.I. school groups to the Siege Museum, covering entrance fees and facilitation costs.
Partnerships:
Heritage Venues: The museum continues to be represented on the Walled City Heritage Venues Group, coordinated by Derry City & Strabane District Council. This committee promotes heritage venues across the city. A visitor pass scheme, managed by Visit Derry, has yet to reach its full potential, but with improved marketing, we believe it can succeed in boosting footfall for the museum and other attractions.
Peace Tourism: The CEO and Vice Chairman represent the museum on a recently formed N.I.-based Peace Tourism Collaboration Group, convened by Tourism N.I. and chaired by Dr Paul Mullan, Senior Director of the Heritage Fund. This forum provides a platform for heritage and tourism leaders to explore opportunities for collaboration, with the shared goal of promoting tourism through joint initiatives and common objectives.
Accreditation:
A Director’s subcommittee continues to review and uphold the accreditation award achieved last year. Maintaining these standards ensures sustainability, strengthens future funding applications, and fulfils conditions set by agencies that supported the museum’s construction.
Social media:
Our website provides comprehensive information on events, programmes, opening hours, admission, and facilities. Facebook and Twitter are used to promote talks and tours.
Outreach vehicle:
Volunteers continue to attend events and activities and play a vital role in promoting the museum at events across the province. Their efforts enhance our profile and increase visitor awareness. There were 10 roadshows during late July and early August promoting the museum.
The Trustees have secured funding from Derry City & Strabane District Council, the Department of Foreign Affairs and Trade; Reconciliation Fund and Urban Village Initiative.
The charity has recorded an overall surplus of £21,554 for the year. Income from tours of the museum has increased by £9.5k on the previous year and sales of souvenirs have increased by £9.3k. on the previous year.
The restricted income received from funders varies from year to year depending on the projects being funded and as a consequence costs specific to projects vary accordingly. There are restricted funds of £7,193 at the year end. The running costs of the museum are at a similar level to the previous year and the trustees are satisfied with the financial result.
The Trustees have examined the charity's requirements for reserves in light of the main risks to the organisation. The reserves are required to meet the working capital requirements of the charity. The long term strategy is to build reserves through planned operating surpluses.
The charity is a company limited by guarantee incorporated on 7 January 2003 and registered as a charity with the Charity Commission for Northern Ireland. The charitable company was established under a Memorandum of Association and is governed by its Articles of Association. Member's liability in the event of the company being wound up is limited to £1.
The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:
Under the requirements of the Memorandum and Articles of Association trustees are elected at an Annual General Meeting from amongst those persons nominated by the ordinary members. The trustees have the power at any time to appoint any person to be a trustee, either to fill a casual vacancy or as an addition to the existing trustees. Any trustee so appointed serves only until the next Annual General Meeting at which Trustees are to be elected and are then eligible for re-election. A retiring Trustee is eligible for re-election.
None of the trustees has any beneficial interest in the company. All of the trustees are members of the company and guarantee to contribute £1 in the event of a winding up.
Company law requires the trustees to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the charity and of the incoming resources and application of resources, including the income and expenditure, of the charitable company for that year.
In preparing these financial statements, the trustees are required to:
- select suitable accounting policies and then apply them consistently;
- observe the methods and principles in the Charities SORP;
- make judgements and estimates that are reasonable and prudent;
- state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the charity will continue in operation.
The trustees are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the charity and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the charity and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The trustees' report was approved by the Board of Trustees.
I report on the financial statements of the charity for the year ended 31 December 2025, which are set out on pages 8 to 20.
Having satisfied myself that the financial statements of the charity are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, it is my responsibility to:
examine the financial statements under section 65 of the Charities Act (Northern Ireland) 2008;
follow the procedures laid down in the general Directions given by the Commission under section 65(9)(b) of the Charities Act (Northern Ireland) 2008; and
state whether particular matters have come to my attention.
I have examined your charity accounts as required under section 65 of the Charities Act and my examination was carried out in accordance with the general Directions given by the Charity Commission for Northern Ireland under section 65(9)(b) of the Charities Act. The examination included a review of the accounting records kept by the charity and a comparison of the accounts presented with those records. It also includes consideration of any unusual items or disclosures in the accounts, and seeking explanations from you as charity trustees concerning any such matters.
My role is to state whether any material matters have come to my attention giving me cause to believe that:
1. Accounting records were not kept in accordance with section 386 of the Companies Act 2006; or
2. The financial statements do not accord with those accounting records; or
3. The financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 and with the methods and principles of the Charities Statement of Recommended Practice applicable to charities preparing their financial statements in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102); or
4. There is further information needed for a proper understanding of the financial statements to be reached.
I have completed my examination and I have no concerns in respect of the matters (1) to (4) listed above and, in connection with following the Directions of the Charity Commission for Northern Ireland, I have found no matters that require drawing to your attention.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
The Siege Museum Ltd is a private company limited by guarantee incorporated in Northern Ireland. The registered office is The Siege Museum, 13 Society Street, Londonderry, BT48 6PJ.
The financial statements have been prepared in accordance with the charity's governing document, the Companies Act 2006, FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Charities SORP "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)". The charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a statement of cash flows.
The financial statements are prepared in sterling, which is the functional currency of the charity. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the trustees have a reasonable expectation that the charity has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.
Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.
Restricted funds are subject to specific conditions by donors or grantors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.
Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, 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 classified by activity. The costs of each activity are made up of the total of direct costs and shared costs, including support costs involved in undertaking each activity. Direct costs attributable to a single activity are allocated directly to that activity. Shared costs which contribute to more than one activity and support costs which are not attributable to a single activity are apportioned between those activities on a basis consistent with the use of resources. Central staff costs are allocated on the basis of time spent, and depreciation charges are allocated on the portion of the asset’s use.
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
At each reporting end date, the charity reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.
Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
The charity has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the charity's balance sheet when the charity becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
No trustees received any remuneration for services as members of the Board of Trustees in either the current or prior financial year.
A trustee, Mr J Brownlee, received payments totalling £1,241 (2024: £1,644) in volunteer expenses.No other trustee or person related to the Charity had any personal interest in any contract or transaction entered into by the Charity during the current or prior financial year.
The average monthly number of employees during the year was:
The charity is exempt from taxation on its activities because all its income is applied for charitable purposes.
Heritage assets relate to a collection of deactivated weaponry and memorabilia dating to the 36th Ulster Division and the early formation of the Ulster Volunteer Force in 1913. This collection is included at cost in the financial statements. Depreciation is not provided as it is considered to have an indefinite life. However, it is reviewed for impairment due to damage or deterioration at each reporting date.
Other collections on display in the Siege Museum are on loan from the Trustees of the Apprentice Boys Memorial Hall and are therefore not included in the financial statements.
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The restricted funds of the charity comprise the unexpended balances of donations and grants held on trust subject to specific conditions by donors as to how they may be used.
The unrestricted funds of the charity comprise the unexpended balances of donations and grants which are not subject to specific conditions by donors and grantors as to how they may be used. These include designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes.
The designated education fund relates to money which has been set aside for the upkeep and maintenance of the outreach vehicle.
The designated renewal and renovation fund relates to money which the Trustees have set aside for the future upkeep of the Museum building.
Other than the transactions disclosed at Note 8 to the financial statements, there were no disclosable related party transactions during the year (2024 - none).