MUSEUM OF TIMEKEEPING
Museum of Timekeeping holds for public benefit a collection and library to inspire and promote public understanding and appreciation of horology and the history, science, art and craft of timekeeping, by collecting, documenting, preserving, exhibiting and interpreting a collection and library to promote public enjoyment and understanding through exhibitions, public & educational programmes.
Financial health, per its FY2024 accounts
The accounts state that the charity incurred a net expenditure of £100,790 for the year, resulting in unrestricted funds dropping from £127,127 to £26,337. To fund ordinary activities, the trustees liquidated long-term investments and terminated all staff contracts, relying on trustees and volunteers for operations. The trustees expect financial stability in 2025 following these measures and reduced support costs.
What the accounts disclose
“Following a financial and operational review in October, the Trustees were obliged to terminate all staff contracts, leaving the operation of the Museum to trustees and volunteers. it is expected that by taking this step and working with the British Horological Institute on occupation costs, the Museum will achieve financial stability in 2025. The long term investment was liquidated in order to fund ordinary activities.”
“The British Horological Institute Limited by guarantee (BHI Limited) is a company related to the charity. During the year the Charity incurred support costs (which includes use of BHI Limited's property to house the collection, and other recharges) to BHI Limited totalling £51,330 (2023 - £51,315). The charity received £15,000 (2023 - £15,000) from BHI Limited for access to the museum for it's members and students, which was unpaid at the year end. This is included within other debtors.” — page 15
Property (HM Land Registry)
Register events
- Received assets from another charity (15/10/2020)
- Received assets from another charity (28/07/2019)
Trustees
- Brian Powellchair
- Arthur Jan Wright
- Gary Martyn Williams
- JAMES ARNFIELD
- JUSTIN JAY KOULLAPIS
- ROBERT BENTLEY LOOMES
- Reginald John Griffths
Income and spending
| Financial year end | Income | Spending |
|---|---|---|
| 31/12/2024 | £47k | £147k |
| 31/12/2023 | £46k | £136k |
| 31/12/2022 | £40k | £126k |
| 31/12/2021 | £44k | £94k |
| 31/12/2020 | £19k | £88k |
Common questions
Is MUSEUM OF TIMEKEEPING financially healthy?
Per its FY2024 accounts: The accounts state that the charity incurred a net expenditure of £100,790 for the year, resulting in unrestricted funds dropping from £127,127 to £26,337. To fund ordinary activities, the trustees liquidated long-term investments and terminated all staff contracts, relying on trustees and volunteers for operations. The trustees expect financial stability in 2025 following these measures and reduced support costs. Its FY2024 accounts were independently examined.
Who funds MUSEUM OF TIMEKEEPING?
Funders whose own accounts filings name MUSEUM OF TIMEKEEPING as a grant recipient include ASSOCIATION OF INDEPENDENT MUSEUMS.
Known funders
| Funder | Year | Amount | Purpose (as stated by the funder) |
|---|---|---|---|
| ASSOCIATION OF INDEPENDENT MUSEUMS | FY2022 | £300 | Modes Training Support Costs |