The Board of Management present their annual report and financial statements for the year ended 31 March 2026.
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 Trust'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).
The objectives for which the Trust is established are to advance the education of the public in matters relating to the history, commerce, architecture and social and cultural development of Nantwich and its environs. In furtherance of these objectives, the Trust has established and maintains a museum. The Trust continues to develop the Museum to create a lively, interactive display which appeals to all ages. Regular temporary exhibitions are staged to stimulate local interest and to complement school curricula. The Trust employs a full time Manager, a Learning and Engagement officer, a part time administrator and a paid Saturday assistant. These are assisted by a large number of volunteers.
The Board of Management have paid due regard to guidance issued by the Charity Commission in deciding what activities the Trust should undertake.
The mission for the Museum is to tell the story of Nantwich by understanding the past and inspiring the future. Our key areas of focus are heritage, education and community. The achievements of the Museum in the Calendar 2025 have been summarised in a separate document (Nantwich Museum Impact Report 2025) available from the Museum. Our visitor numbers remain strong (around 20,000 per 12 month period), reflecting interest from tourists and local community. In addition around 3,000 schoolchildren visit the Museum for the educational modules which we offer.
Our collection:
The Museum holds a collection of around 6,000 objects, with permanent displays reflecting key themes (salt-making, trades, cheese-making) and key events (the Civil War Battle of Nantwich, the Great Fire of Nantwich). This year we created new displays about Early Nantwich and Nantwich Life in our reception area. The Nantwich Life display will be a rotating display, currently themed around sport (with objects loaned from Nantwich Town Football Club). Trades display cases were improved, and with support from the Cheshire Community Foundation, two new cases were purchased, extending the range of objects we can display. The area housing our long case clock collection was redecorated, improving the presentation of these objects. In collaboration with the National Waterways Museum we started a programme of 3D printing of selected objects, which will enable us to share the collection in a more interactive and engaging way. We loaned several of our Treasure items to the exhibition Treasure: History Unearthed at the Liverpool Museum, where they received wider exposure and could be placed in the context of other treasures from the northwest. Through an appeal we successfully raised the money to purchase two new items for our Treasures case: a gold ring from Combermere Abbey and a medieval posy ring from Audlem.
Temporary exhibitions:
Our two temporary exhibition spaces were fully occupied throughout the year with a range of art, craft and historically themed exhibitions. Key exhibitions organised by volunteers at the Museum were: ‘Ancient Villages- 7 miles around Nantwich’ – an exhibition that represented the history of the area around the town; ‘The War comes to Nantwich’ – marking 80 years since the end of the second World War’; and ‘The Wonders of Colour’ – an exhibition, funded by the Royal Society of Chemistry, with a STEM focus, exploring the science of colours, dyes and pigments.
New website and brand: our previous website, created some years ago, was becoming increasingly difficult to maintain. In 2025 the Board supported a proposal to create a new website, combining this with a new logo and a new brand. CSI Media was selected as a partner. The new website, with the new logo, was created, populated with content and launched in January 2026.
Community archaeology project:
Throughout 2025 and into early 2026 the Museum coordinated a community archaeology project called ‘Discovering Medieval Nantwich’. The project recruited local volunteers who were then trained in the skills they needed to participate in the project. The project, supported by an extensive report, delivered a new understanding of the development of the town in the Medieval period.
Participation in National Events:
We held events aligned to the Festival of Archaeology 2025 (‘Taking a walk with geology’ and a ‘Discovering Medieval Nantwich’ Tour) and Heritage Open Days (‘Scars of the Civil War in Nantwich’ and ‘Exploring the changing architecture and history of Nantwich’)
Education:
We continued to inspire schoolchildren through our themed workshops, with around 3,000 children visiting from over 70 schools. For schools unable to visit, boxes with objects and coursework were assembled (with support from the Cheshire Community Foundation) and these can be loaned from the Museum. We also created a set of handling boxes for geology, everyday life and the Roman period, to provide different ways for children to engage with objects in the Museum. We provide educational opportunities for all ages through our programme of talks and through guided walking tours of the town. For young people transitioning into work we provided work experience opportunities.
Community:
The Dementia Friendship Group continues to run twice-monthly. Community archaeology projects engage members of the public who might find it difficult, for reasons of work or family life, to engage with the Museum during its normal opening hours. Over 100 volunteers contribute in various ways to the running of the Museum, forming part of the extensive volunteer community within the town. We ‘took the Museum out’ on several occasions to local events, including recreating the ‘Blessing of the Brine’ ceremony on Ascension Day in the Town Square, a VE day celebratory event hosted by the Wingate Centre in Wrenbury, the 90th anniversary of the Brine Baths at the Leisure Centre, and a display promoting the history of cheesemaking at Nantwich Show
Accessibility: the Museum strives to be as accessible as possible. We are open five days a week, free of charge. An audio-loop system is now available from the Front Desk. Sensory bags were installed to support children and adults with additional needs.
Unrestricted funds at the end of the financial year amounted to £256,452. It is the policy of the Trust that from the unrestricted funds, a reserve equivalent to 6 months expenditure will be maintained.
This level of reserves has been maintained throughout the year. Funds in excess of the 6 months minimum are set aside for future running costs of the Museum, including planned maintenance of the property, committed salary costs, and ongoing energy costs.
The Board of Management has assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.
At the start of the financial year, the Board of Management approved a conservative budget for the year which indicated a likely loss of £42k on our day-to-day activities. In the event income exceeded expenditure by £5,428 (p9). This was a combination of a good performance from income-raising parts of our organisation together with receipt of a gift of £30,000 in memory of Douglas Bowyer-Bates, a former Trustee of the Museum. One other significant movement was the divestment of the Dutton Medal Fund from the Museum to Nantwich Town Council. The movement of thus £3,074 (p7), which appears as a loss in our overall figures, has no impact on the Museum since this money was restricted as prize money to be given with the Dutton Medals. However, divestment of this Fund has enabled us to focus more fully on our core mission. The Board has approved a budget indicating likely loss of £40k for the next financial year.
The Trust is constituted as a company limited by guarantee and is therefore governed by its Memorandum and Articles of Association.
The Board of Management, who are also the trustees of the charity and 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:
The constitution of the Board of Management is as follows:
No more than sixteen members of which 2 are nominated by Cheshire East Council, 2 by Nantwich Town Council, 1 by Nantwich Local Historical Society and 1 by Nantwich Civic Society, with the remainder being elected by the membership. The Board can co-opt individuals to be members of the Board if vacancies exist.
The directors appointed by the membership serve for a period of three years. They are not eligible for re-appointment in the year immediately succeeding the ending of their three-year term although they may be co-opted during the period. The treasurer, secretary and often membership secretary attend the Board of Management meeting but are not directors of the Trust.
New directors are given training on appointment regarding the charity's aims, their legal obligations under company and charity law, the operation of the museum and the decision-making process, the charity's future development plans and the charity's recent financial performance
The tangible fixed assets in use by the Trust have been financed via the development fund and other grants received. The accounting treatment adopted in respect of these assets is detailed in note 1.7 to these financial statements. The Trust is based in a building which is leased from the Cheshire East Council on a peppercorn rental.
The Trustees' report was approved by the Board Of Management.
The Board of Management, who are also the directors of Nantwich Museum Trust Limited for the purpose of company law, are responsible for preparing the Trustees' Report and the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice).
Company law requires the Board of Management to prepare financial statements for each financial year which give a true and fair view of the state of affairs of the Trust 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 Board of Management 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 Trust will continue in operation.
The Board of Management are responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the Trust 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 Trust and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
I report to the Board of Management on my examination of the financial statements of Nantwich Museum Trust Limited (the Trust) for the year ended 31 March 2026 which comprise the statement of financial activities, the balance sheet and the notes to the financial statements, including a summary of significant accounting policies.
This report is made solely to the charitable company's trustees, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006 and the charitable company's trustees as a body in accordance with section 154 of the Charities Act 2011. My independent examiner's work has been undertaken so that I might state to the charitable company's trustees those matters I am required to state to them in an independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the charitable company, the charitable company's members as a body and the charitable company's trustees as a body for my independent examiner's work, for this report, or for the opinions I have formed.
Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the Companies Act 2006 and are eligible for independent examination, I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011. In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the Charities Act 2011.
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 that in any material respect:
accounting records were not kept in respect of the Trust as required by section 386 of the Companies Act 2006.
the financial statements do not accord with those records; or
the financial statements do not comply with the accounting requirements of section 396 of the Companies Act 2006 other than any requirement that the financial statements give a true and fair view, which is not a matter considered as part of an independent examination; or
the financial statements 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 financial statements 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 financial statements to be reached.
The statement of financial activities includes all gains and losses recognised in the year. All income and expenditure derive from continuing activities.
Nantwich Museum Trust Limited is a private company limited by guarantee incorporated in England and Wales. The registered office and the location of the museum is at The Nantwich Town Museum, Pillory Street, Nantwich, Cheshire, CW5 5BQ.
The financial statements have been prepared in accordance with the Trust's Memorandum and Articles of Association, the Companies Act 2006, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) 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)" (effective 1 January 2019). The Trust is a Public Benefit Entity as defined by FRS 102.
The Trust 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 Trust. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain financial instruments at fair value. The principal accounting policies adopted are set out below.
At the time of approving the financial statements, the Board of Management have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the Board of Management 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 Board of Management 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 Trust 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 on receipt of the tax refund.
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant goes not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
A grant that is subject to specific conditions is allocated to a restricted fund.
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.
Intangible assets acquired separately from a business are recognised at cost and are subsequently measured at cost less accumulated amortisation and accumulated impairment losses.
Intangible assets acquired on business combinations are recognised separately from goodwill at the acquisition date where it is probable that the expected future economic benefits that are attributable to the asset will flow to the entity and the fair value of the asset can be measured reliably; the intangible asset arises from contractual or other legal rights; and the intangible asset is separable from the entity.
Amortisation 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:
Tangible fixed assets are initially measured at cost and subsequently measured at cost, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost 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.
The costs of improving the museum buildings and displays were financed by a development fund and other grants received and were written off during the year in which they were incurred. These improvements were therefore not valued in the charity's balance sheet. A note of total expenditure written off in earlier years is given in note 14 to the financial statements.
The Trust cares for many objects, the vast majority of which would be difficult, if not impossible, to value. Even if valuations could be obtained the costs would be onerous compared with the benefit derived by the Trust and the users of the financial statements. As a result, no value is reported for these assets in the Trust's balance sheet.
The exception is for heritage assets purchased, which are capitalised if the cost is greater than £1,000. Items that are capitalised are stated at cost, but are not depreciated as the amount of depreciation is regarded as immaterial due to their anticipated high residual value.
Nature and Scale of Heritage Assets
Nantwich Museum holds a collection of heritage assets that reflect the rich history, commerce, architecture, and cultural development of Nantwich and its surrounding areas. These assets include:
Historical artefacts, documents, and photographs relating to the town’s salt industry, Tudor architecture, and Civil War history.
Permanent and temporary exhibitions showcasing local heritage themes.
These assets are held and maintained principally for their contribution to public knowledge and cultural enrichment, and are not used for investment or operational purposes unrelated to the museum’s charitable objectives.
Policy for Acquisition, Preservation, Management and Disposal
The Museum’s policy for heritage assets is guided by its charitable objectives and the principles of responsible stewardship:
Acquisition: Assets are acquired through donation, bequest, or strategic purchase. All acquisitions are reviewed by the Board of Management to ensure alignment with the museum’s educational and cultural mission.
Preservation: Conservation efforts are supported by a combination of professional staff and volunteers. Environmental controls, security systems, and regular condition assessments are in place to safeguard the collection.
Management: A digital asset register is maintained, recording provenance, condition, and location of each item. The register is reviewed annually and updated as needed. The museum employs a full-time Manager and Learning and Engagement Officer to oversee collection care and interpretation.
Disposal: Disposal of heritage assets is rare and subject to strict governance. Any proposed disposal must be approved by the Board and comply with Charity Commission guidance. Assets may only be disposed of if they are no longer relevant to the museum’s objectives or if their condition renders them unsuitable for display or preservation.
Stocks are stated at the lower of cost and net realisable value.
The Trust 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.
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due and are allocated to unrestricted funds.
In the application of the Trust’s accounting policies, the Board of Management 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.
Other Charitable Expenditure as shown above includes expenditure on Restricted Funds of £7,588 (2025 £6,330), and Depreciation and Impairment includes expenditure on Restricted Funds of £2,051 (2025 £1,280).
None of the Board of Management (or any persons connected with them) received any remuneration or benefits paid for from the Trust during the year.
£100 was reimbursed for directly incurred employee gift cards to one trustee.
The average monthly number of employees during the year was:
The charity is exempt from tax on income and gains falling within section 505 of the Taxes Act 1988 or section 252 of the Taxation of Chargeable Gains Act 1992 to the extent that these are applied to its charitable objects.
Costs of building and display improvements totalling £281,019 have been spent in earlier years and financed by a development fund to the same value. This total improvement expenditure does not appear in these financial statements having been matched by the development fund.
Five year summary analysis of heritage transactions:
| 2022 | 2023 | 2024 | 2025 | 2026 |
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Purchases | 0 | 2000 | 0 | 0 | 1800 |
The Trust operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the Trust in an independently administered fund.
Endowment funds represent assets which must be held permanently by the Trust. Income arising on the endowment funds can be used in accordance with the objects of the Trust and is included as unrestricted income. Any capital gains or losses arising on the assets form part of the fund.
The Dutton Medallion Fund has been provided to make an annual award to a citizen of Nantwich in recognition of his or her services to the local community.
In the year, the board transferred this fund to be administered by Nantwich Town Council. This award has many similarities to the "Salt of the Earth" awards already presented by Nantwich Town Council, and the "Dutton Prize" will now be presented as part of this ceremony.
The restricted funds of the charity comprise the unexpended balances of donations and grants and tangible and heritage assets held on trust subject to specific conditions by donors as to how they may be used.
The Dementia Fund was set up to run the Dementia Friendship Group which meets twice a month and is funded by donations from participants and outside organisations.
The Civil War Project is a project set up to develop the current "Your Space" gallery into a permanent civil war exhibition space.
The Nisa grant was received for general museum marketing efforts and associated materials.
The Manchester University Costume Collection funding was granted from Museums Development North West's Sustainable Improvement Fund to aid in costume care.
The Contemporary Collecting Project Fund is for the development of an LGBT exhibition.
The Acton Ring Fund was set up for the acquisition of a post-Medieval gold and enamel fede ring from Acton, Cheshire.
The MDNW Digital Kiosk Fund was set up to purchase a digital kiosk to provide an enhanced user experience in the main gallery, using technology and modern display techniques to supplement the static displays with interactive maps and presentations.
The Accessibility grant was received to improve the physical and online accessibility of the Museum to all in the community. This is achieved through purchase of new equipment, development of resources such as large print guides, and optimisation of the Museum website.
The Cheshire Community CCF grant was received to fund more accessible, sensory and interactive activities and exhibits for the museum.
The Cheshire East Community Grant Fund is used to develop outreach projects, town square and riverside activities, resource boxes and access training.
The Fedcap Fund is a grant to aid volunteers from Fedcap in providing any accommodations or adjustments they may need in order to make the most of their volunteering opportunities at the Museum.
The Treasure Fund 2024 is a fund for the acquisition of local treasure finds to add to the Museum's collection of objects.
The High Street Exhibition Fund is a fund for the development of the Summer 2024 High Street Exhibition.
The SPF Cultural Activity fund enables the museum to purchase equipment that will improve access to the Museum’s collections and to tell the important stories of the town.
The Chemistry of Colour grant was received to develop a variety of activities exploring the history and science of colour, including workshops, talks, experiments and school sessions.
The Exhibition Fund is a fund to contribute towards the development of new display spaces within the Museum.
The Hospital Street Exhibition Fund is a fund for the development of the Hospital Street exhibition - Summer 2026.
The Rings Appeal Fund is a fund for the purchase of two rings - a post-Medieval gold posy ring found in Audlem, and a Medieval gold and turquoise ring found near Dodcott.
There were no disclosable related party transactions during the year (2025 - none).