Story Museum Annual Report and Accounts 2010

THE STORY MUSEUM ACCOUNTS FOR THE PERIOD ENDED 31 AUGUST 2010 INDEX Page 1-9 Trustees‟ report 10-11 Independent auditors‟ report 12 Statement of financial activities 13 Balance sheet 14-17 Notes to the accounts Company number: 4780380 Charity number: 1107809 1 THE STORY MUSEUM TRUSTEES’ REPORT Legal and Administration Information The full name of the company is The Story Museum. The company number is 4780380. The registered charity number is 1107809. The trustees that served during the period were as follows: Dr Will Bowen (appointed 10 December 2009) Mr David Fickling Ms Maureen Freed Ms Pamela Hartigan Mr Edward Knighton Mr John Lange Mrs Susan Robinson (appointed 2 July 2009) Mr David Wood The office address of the charity is 42 Pembroke Street, Oxford, OX1 1BP. The registered address is The Story Museum, Laytons, 50 Victoria Embankment, London, EC4Y OLS. The company‟s auditors are Critchleys LLP, Greyfriars Court, Paradise Square, Oxford, OX1 1BE. The company‟s solicitors are Laytons, 50 Victoria Embankment, London, EC4Y 0LS. The company‟s bankers are Barclays Bank plc of Cornmarket Street, Oxford, OX1 3HS. Structure, Governance and Management The charity is governed by its Memorandum and Articles of Association. The procedures for the appointment of Trustees are set out in the Articles of Association. At each AGM, one third of the trustees shall retire from office but are eligible for reappointment. Objects and Activities for the Public Benefit The objects of The Story Museum are to advance the education of the public in relation to children‟s literature and the history of the City of Oxford, in particular by: a) establishing and maintaining a museum dedicated to these subjects; b) conserving, interpreting and developing collections and heritage assets relevant to children‟s literature and the City of Oxford; c) providing learning opportunities for and promoting literacy and creativity among children, young people and families. The Trustees have complied with the duty in section 4 of the Charities Act 2006 to have due regard to public benefit guidance published by the Charity Commission. 2 THE STORY MUSEUM TRUSTEES’ REPORT (CONTINUED) Introduction from the Acting Chairman This Report covers a very exciting chapter in the rapidly developing story of The Story Museum. The idea, the dream, the vision are becoming the reality, the concrete, the visible. We now have a building, a splendidly special building in an ideal location. The Story Museum has well and truly arrived, thanks to the belief, the dynamism and determination of Kim Pickin, Tish Francis and their dedicated team. We, the Trustees, salute their success so far, and commit ourselves to supporting them wholeheartedly in the even more adventurous chapters ahead. These are difficult times for fundraising. Our Patrons Philip Pullman and Michael Morpurgo have recently spoken passionately against the proposed cuts to libraries and to children's arts. But we are determined to secure a sustainable future for the unique project that is The Story Museum, which we are proudly confident will be a vital. life-enhancing, imagination-triggering institution for adults and children, now and for generations to come. David Wood OBE, Acting Chairman Summary This was a momentous year for The Story Museum, in fact a momentous 15 months following the Board of Trustees decision to change the company‟s financial year end from 31St May to 31st August. The Story Museum‟s „virtual‟ activity continued apace: our outreach team engaged with 30 Oxfordshire Story schools, running workshops, inset days, training days, networking days and many individual advice sessions with teachers. We completed a Transformation Fund pilot project for parents and children in Blackbird Leys and co-ordinated two successful Oxford–wide Alice‟s Days, working with some 30 partners across the city: these activities reached an estimated total of 30,000 children and adults. Thanks to an unsolicited and unexpectedly generous gift received in December 2008 we started this financial year with a strengthened team which stepped up the search for a development site. As central Oxford‟s Rochester House/Old GPO site emerged as a clear front runner, a serendipitous sequence of opportunities combined with a remarkable act of philanthropy to grant the Story Museum its wish and enable the charity to secure a 132-year lease on a site which is ideally located at the heart of the medieval city, has unique character, and provides a generous and adaptable space. Turnover in the year increased significantly largely due to this one-off donation of £2.19 million. Excluding that one-off sum, resources expended increased overall by 60%: on the capital project by approximately 50%, on outreach by 40% and on family work by 60%. It was all the more noteworthy then that, working from an assembly of home offices and kitchen tables, our resourceful team rode this period‟s demands and challenges with characteristic professionalism, enthusiasm and humour. As the financial year ended, their efforts were rewarded as we were finally able to come together under one roof in offices created within a small area of the new premises. As anticipated, the building brought with it great benefits and greater challenges. The support and confidence of long-term collaborators and donors was refreshed and there is no doubt that, underpinned by the outreach programme, the capital project becoming a reality gathered, and continues to gather, a widening constituency of support as well as a growing body of volunteers and professional partners. 3 THE STORY MUSEUM TRUSTEES’ REPORT (CONTINUED) Summary (continued Despite the acquisition of a valuable capital asset, the Story Museum‟s revenues continued and will continue to depend on charitable, individual and public contributions until the building is open and generating its own income. With heightened risk, increased overheads and the need for longer-term business planning and grant bids, budgeting and financial management systems and controls have been strengthened with the result that in this year of considerable change expenditure has been well controlled against the fluctuating tides of income. We review our achievements and performance in more detail with reference to our three main stated charitable activities. Establishing and maintaining a museum dedicated to children’s literature and the history of the City of Oxford As we intensified our search for a suitable site, the Story Museum heard, in late June 2010, that the Carlyle Group had truncated its proposed development between Queen Street and St Aldate‟s in central Oxford. On enquiry we learnt that the surplus portion – Rochester House and Old GPO at the rear of 102-104 St Aldate‟s, empty and deteriorating for over a decade – was available. After taking professional advice, with the backing of our donor and after much negotiation and freeholder Merton College‟s consent, the company accepted our bid to acquire the 132-year lease and develop the site for the museum. Negotiations started in earnest at the end of July and we achieved contract completion at a final cost of £2,190,000 on 4th November. News of the purchase drew cheers from all quarters: some 500 congratulatory e-mails and messages, press features and endorsements. An Oxford Times leader with the banner “Imagination” declared: “You have to admire the ambition of those behind plans for a £14m museum dedicated to the art of storytelling. Still more admirable is the fact that this project is up and running with the acquisition of a significant building in the heart of Oxford.” With the next challenge being to get the pigeons out of, and the team into, the building, we secured a £99,000 Grants for the Arts capital grant from Arts Council England/National Lottery and targeted foundation and individual donations to cover the cost of the work. Twenty volunteers helped to clear the premises whilst several photographers came forward, eager to capture the space in its „before‟ state. Wootton-based surveyors Frankham Consultants were appointed to supervise a schedule of works which included urgent repairs to the GPO building roof and box gutters, remedial works to some of the unoccupied areas and the repair and installation of new services, interior and exterior decoration of the Rochester House ground floor rooms to create 4 offices, a kitchen, an accessible and other toilets. Rodells of St Albans won the competitive tender and building contract and, after some delays, completed at the end of August 2010. Additional works commissioned and contracted by the Story Museum included an art installation – a shop window for „Rochester Story Supplies‟ for Oxford‟s fictional community - from artist, author and illustrator Ted Dewan, completed in January 2011. The interest in the building has been considerable: Oxfordshire‟s Lord Lieutenant, Tim Stevenson, several Oxfordshire Deputy Lieutenants and County Councillors joined us on June 21st for a Midsummer‟s Eve tour and performance – our first storytelling presented by Chris Smith – in a space originally designed in the 1920s to accommodate Oxford‟s first automated telephone exchange. The idea of the Story Exchange was born. We toured 650 people around the building during Oxford Open Doors weekend in September and opened up a visitors‟ book to capture the names, comments and ideas and of the many who‟ve visited since. 4 THE STORY MUSEUM TRUSTEES’ REPORT (CONTINUED) Establishing and maintaining a museum dedicated to children’s literature and the history of the City of Oxford (continued Not all our trust and foundation bids on the capital front were successful due to the impact of the recession and heightened competition for funds. Unfortunately this included our first application to the Heritage Lottery Fund which we heard in January 2011 had been unsuccessful. Although disappointed we were not altogether surprised, knowing of other successful lottery projects that were rejected at their first attempt and we plan to work with our advisors to submit a revised application.

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