Great Russell Street, London WC1B 3DG Telephone +44 (0) Facsimile +44 (0)

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1 Great Russell Street, London WC1B 3DG Telephone +44 (0) Facsimile +44 (0) BMF is a registered charity, a company limited by guarantee and is governed by its Memorandum and Articles of Association. Registered Charity Number Company Registration Number The Trustees of the British Museum and the Trustees of British Museum Friends 2008.

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3 3 YOUR SUPPORT COUNTS ANNUAL REVIEW AND SUMMARY FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2009

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5 To support and assist the British Museum in maintaining and expanding its collections and services to scholars and to the general public... The objects of the British Museum Friends as laid down in the Memorandum of Association BMF is a registered charity, a company limited by guarantee and is governed by its Memorandum and Articles of Association 1

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7 Professor Sir Barry Cunliffe (Chairman) Brian Chadwick Richard Dalzell (Treasurer) Brendan Finucane (Co-opted December 2008) Kathi Hall (Elected November 2008) David Norgrove Judith Nugée Anna de Pass Mark Phillips (Elected November 2008) Ian Plendeleith William Rathbone (Deputy Chairman) Eva Ratz Christopher Steele Patsy Vanags Retired November 2008: Griselda Bear, David Lindsell and Patricia White 3

8 CHAIRMAN S REVIEW The YEAR IN FOCUS After our record-breaking year in 2007/8 for recruitment, we are absolutely delighted to announce that we have recruited even more new Members this year, with 7,440 joining, 17% more than the previous year. This means that since April 2007 we have grown our Membership by 87%; and the number of Members now stands at 22,227. This enormous increase means that we are beginning to realise our ambition to significantly increase our core income through an enlarged group of Members and supporters. In turn, by managing our costs prudently and focusing on the services that our Members tell us really matter, we are creating a greater operating surplus to give grants to the Museum for acquisitions, conservation or research. I would like to take this opportunity to welcome and thank the many new Members that joined over the last two years and also to thank our long-term supporters for their commitment you have all helped us to achieve this success. As part of our commitment to good governance, Council took this year as an opportunity to review its sub-committee structure, which had been unchanged for several years. We have regrouped some areas of our oversight and we hope these changes will enable us to focus our attention on key areas of governance and operational delivery and will benefit the overall management of the charity. We were delighted that Kathi Hall and Mark Phillips joined the Council this year; Kathi brings a wealth of magazine publishing experience and Mark has exceptional skills in fundraising and income generation. We should also like to thank Griselda Bear, David Lindsell and Patricia White who retired from Council last November. We continue to take very seriously the search for a new Members room in the Museum, as we know that many of our Members value this feature in other museum and gallery schemes. Together with the Museum, we are hopeful of identifying a possible space within the next 12 months, but we are also mindful of the pressure the Museum faces in accommodating such a large and diverse collection and that demand for gallery space must take priority. On behalf of the Council and our dedicated BMF staff, thank you all for your support in 2008/9. Professor Sir Barry Cunliffe Chairman, British Museum Friends Council 4 8

9 How your contribution made a difference This year Membership has enabled BMF to aid the British Museum with grants of 157,400. The generosity and support of Members helps fund the Museum s activities in a number of ways. Thank you for your help and support in 2008/9. Acquisitions Donations of 117,400 The Museum continues to make acquisitions of objects for its collections, to complement existing collections or to grow its contemporary holdings. It is one of the few Museums today that continues to actively collect for future generations. Research Donation of 40,000 given through the Townley Research Fund for research projects Research remains a central part of the British Museum s purpose. The Museum s research work takes many forms, from archaeological excavations to research, cataloguing of collections to scientific research into objects. Donations to the Townley Research Fund help build the Museum s resources and capacity to undertake this research. 5

10 Grants Made in 2008/9 Description Museum Dept. Amount Given Papyrus Ancient Egypt & Sudan 20,000 Maori kite Transportation Africa, Oceania & Americas 2,000 Hogarth Collection Coins & Medals 10,000 French Drinking Glass Prehistory & Europe 3,500 Gadd Archive Prehistory & Europe 2,500 Chettle Park Hoard Prehistory & Europe 15,000 Norweb Tokens (Additional Grant) Coins & Medals 3,000 Le Marchand Ivory Prehistory & Europe 22,750 Ashbourne Carausius Treasure Coins & Medals 37,150 Research Projects British Museum Research Board 40,000 Eva Lorant Lectures Greece & Rome 1,500 TOTAL 157,400 Pledges of Support Made in 2008/9 The British Museum Friends, in agreement with the British Museum, earmarked 500,000 to support two future acquisitions. Because of the uncertainty of the acquisitions, the 500,000 has not been formally approved by the British Museum Friends Council and is therefore not included as a liability in the annual accounts. 10 6

11 ACTIVITIES & ACHIEVEMENTS Membership Over the last twelve months, the Museum has provided us with some wonderful exhibitions, including Hadrian: Empire and Conflict, Babylon: Myth and Reality and Shah ºAbbas: The Remaking of Iran. This enabled us to recruit 7,440 new Members. Membership thus continues to grow overall and now stands at 22,227 Members. The membership extras guest facility and additional card again proved popular, with over 50% of Members opting to add one or both of these to their basic membership. We are delighted to see that the number of Under-26 Members is growing, increasing by more than four times on 2007/8. The number of Young Friends remains stable at just under 1,000 Members. Thank you to everyone who has agreed to gift aid their membership, this unlocked an additional 134,240 this year Magazine The Magazine focused on expanding editorial contributions to include an extensive selection of research-based articles. By giving comprehensive coverage to the Museum s projects in London, the UK and around the world, the Magazine was able to reflect the diversity of the Museum s many activities. Despite the economic downturn, many existing advertisers maintained their presence in the publication. Events The Members Open Evenings continued to be very successful, with average attendance figures of over 1,600 Members. These evenings are proving ever more popular as people take the opportunity to explore the Museum after hours, away from the daily crowds. The wide array of lectures was well attended, in particular the talks focusing on introductions to the Museum s exhibitions and the showcasing of new galleries. A great number of Members were delighted with the variety of performances and gallery-talks; and chocolate tasting, a range of book signings and offers in our shops proved very attractive for many. Young Friends also benefited from a full programme of events this year, including sleepovers themed on Olympia, Hadrian, Babylon and Shah ºAbbas. Fundraising We continue to build donations to the Townley Research Fund. The Fund is focused on helping to grow the Museum s capacity as a research institution and provides a significant contribution towards the income currently needed to support the extensive research programme. At the end of 2008/9 we also launched an emergency appeal to help the Museum and the York Museums Trust save one of the most important Viking finds for 150 years, the Vale of York Hoard.

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13 ACTIVITIES & ACHIEVEMENTS Income Total incoming resources of 1,407,773 were generated this year; this was an increase of 4.2% compared with the previous year. Membership subscriptions were 21% ( 172,511) higher as a consequence of a significant increase in membership. Investment income was 8.2% ( 9,135) higher as a result of competitive interest rates negotiated on cash deposits. Voluntary income was down by 104,150 because of a major legacy received in the prior year. GRANTS Grants to the British Museum in 2008/09 totalled 157,400. INCOMING RESOURCES Incoming resources from charitable activities: Members activities Incoming resources from generated funds: Voluntary Income Investment Income Activities for generating funds Other incoming resources: Profit on sale of fixed assets TOTAL INCOMING RESOURCES , , ,084 66, ,407, , , ,949 85, ,350,571 BALANCE SHEET Total general funds at 31 March 2009 were 2,158,818 represented primarily by investments in common investment funds ( 1,006,032), short term investments ( 300,000) and bank balance. As a result of the difficult economic climate, the value of the investments has fallen 23.5% ( 308,276) during the financial year. The Finance Committee regularly review the investments and note that each Common Investment Fund have been performing better than its benchmark on either total return or yield. The investments will continue to be carefully monitored. RESOURCES EXPENDED Cost of generating funds: Charitable activities: Grant making Members activities Governance costs: TOTAL RESOURCES EXPENDED NET INCOMING/(OUTGOING) RESOURCES BEFORE TRANSFERS AND OTHER RECOGNISED GAINS (LOSSES) 53, , , ,529 18, , ,919 61, , , ,099 13,016 1,029, ,396 Other recognised gains/(losses) Unrealised gains/(losses) on investments Realised gains/(losses) on disposal of investments Loss on sales of fixed assets (308,276) 0 (110) (163,134) (13,340) _ NET MOVEMENTS IN FUNDS 103, ,922 9 Balances brought forward at 1 April 2008 BALANCES CARRIED FORWARD AT 31 MARCH ,055,286 2,158,819 1,910,364 2,055,286

14 SUMMARY FINANCIAL STATEMENTS Fixed assets Tangible assets Investments Current assets Debtors Short term investments Cash at bank and in hand Current Liabilities Creditors: amounts falling due within one year Net current assets Total assets less current liabilities Creditors: amounts falling due after more than one year General Funds Designated funds Other unrestricted funds Trustees Statement These summarised accounts are not the statutory accounts but are a summary of information relating to the Statement of Financial Activities and the Balance Sheet and as such may not contain sufficient information to allow for a full understanding of the affairs of the Charity. The full acounts have been approved on 14 July 2008 and given an unqualified audit report. Copies of the full accounts have been sent to Companies House and the Charity Commission and are available on request from the BMF offices. Professor Sir Barry Cunliffe Chairman ,540 1,006,032 1,007, , ,000 1,025,541 1,459,588 (205,745) 1,253,842 2,261,414 (102,596) 2,158,819 1,307, ,247 2,158,819 Richard Dalzell Hon. Treasurer ,840 1,314,308 1,316, , ,453 1,180,413 (330,957) 849,456 2,165,604 (110,318) 2,055,286 1,615, ,836 2,055,286 Independent Auditors statement to the Trustees of the British Museum Friends We have examined the summarised financial statements of the British Museum Friends. Respective responsibilities of trustees and auditors The trustees are responsible for preparing the summarised financial statements in accordance with the recommendations of the charities SORP. Our responsibility is to report to you our opinion on the consistency of the summarised financial statements and Trustees Annual Report. We also read the other information contained in the Annual Report and consider the implications for our report if we become aware of any apparent misstatements or material inconsistencies with the summarised financial statements. Basis of opinion We conducted our work in accordance with Bulletin 1999/6 The auditors statement on the summary financial statements issued by the Auditing Practices Board for use in the United Kingdom. Opinion In our opinion the summarised financial statements are consistent with the full financial statements and the Trustees Annual Report of the British Museum Friends for the period ended 31 March Kingston Smith LLP Chartered Accountants and Registered Auditors Devonshire House 60 Goswell Road London EC1M 7AD 10

15 HOW YOU CAN HELP FURTHER Your contribution makes a great deal of difference, but here are a few ways in which you can further your support that you may not have considered before. For further information on any of these ways to help, please contact the Membership Department on +44 (0) Sign a Gift Aid declaration Gift Aid is one of the simplest ways to make the value of your subscription worth more, at no cost to you. By signing a Gift Aid declaration, you enable us to reclaim the tax on your subscription, making it worth almost a third more. Pay for your membership by Direct Debit If every Member paid by Direct Debit we could save 40,000 a year on administration costs. Direct Debit is simple, easy and efficient and can be cancelled at any time. It will also mean you always receive your new membership card before your old one expires! Give membership as a gift Membership is a gift that offers a whole year of benefits and makes an excellent present for a variety of occasions, including Christmas, birthdays, weddings or retirements. Young Friends membership also makes a great gift for all the children in your life! Give an additional donation Many Members add an additional donation to their subscription to support the Museum s work wherever the need is greatest. Every penny counts and we greatly appreciate all contributions. Visit as often as you can Throughout the year the Museum has a changing programme of temporary exhibitions, as well as displaying new objects in permanent galleries. It also offers an extensive range of lectures, study days and special courses. On your next visit don t forget to use your 10% discount in the Museum shops, cafés and restaurant. All your purchases support the Museum s work. Remember us in your Will Leaving a legacy can have a valuable lasting effect; it acknowledges the pleasure that the Museum has given you and helps to continue work that will connect future generations 11

16 DONATION FORM Yes, I would like to support the Museum s work Please accept my donation of Other. I would prefer my donation to be used Wherever the need is greatest Townley Research Fund Name Address Postcode British Museum Friends Membership No (if applicable) Payment Method I attach a cheque for made payable to The British Museum Friends Please charge my Credit/Debit card Card type: VISA / Mastercard / Amex / Maestro Card Number Valid from / Expiry Date / Issue Number (Maestro only) Signature Date Are you a UK taxpayer? If so, you could increase the value of your donation at no cost to you. Gift Aid means that for every 1 you give, we receive an extra 28p from HM Revenue & Customs. Please tick the box below to make your donation go further. I would like the British Museum Friends to reclaim the tax on any qualifying subscriptions and/or donations made by me since 6 April 2002 or six years, until further notice. I confirm that I have paid an amount of UK income or capital gains tax equal to any tax reclaimed.* * the tax reclaimed would be 22/78 of your gift. Please return completed donation forms to: The British Museum Friends FREEPOST LON14119 London WC1B 3BR F/AR

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