The Thomas Layton Collection met to discuss the Trust's accounts and investments, and to receive updates on the Museum of London and Gunnersbury Stables. The meeting also included a discussion on insurance matters and the cataloguing of the collection.

Trust Accounts and Investments

The meeting was scheduled to receive a verbal update on the Trust's accounts and investments from Samantha Grey-Wilson. The report pack indicated that the accounts for the financial period ending 31 December 2024 had been finalised following an independent review. Trustees were expected to formally approve these accounts and letters of engagement for lodging with the Charity Commission. The report also detailed an update on the work to open a new investment account with Cazenove, with a discussion anticipated regarding the proposed risk appetite for the Trust's investments. Cazenove had suggested a medium to high risk level, which Samantha Grey-Wilson believed was appropriate and reflected the current BlackRock investments profile. Trustees were to consider the definitions for each risk level and the proportions invested in equities and bonds. The report pack noted that, in light of current high inflation rates, a lower risk approach might risk the valuation being impacted by inflation. Trustees were also asked to choose from four statements to gauge their appetite for risk and the sustainability of their investment objectives, with a recommendation to choose Option 3: explicitly targeting sustainable outcomes, acknowledging that this approach may limit some exposure to certain sectors.

Museum of London Update

A verbal update was scheduled from Kate Sumnall of the Museum of London. The report pack indicated that colleagues had begun packing up collections for safe transfer to a new general storage facility at Eagle Wharf. An update was also expected regarding the Trust's asbestos-affected items. It was noted that the museum's accounting systems could not integrate with those of the Trust, and an alternative solution was proposed whereby the museum's asbestos handling company would seal affected items in plastic, allowing the work to be completed within the museum's own budgets by staff using appropriate protective kit. The report pack also mentioned the Secrets of the Thames exhibition and a suggestion that a tour of the exhibition could be arranged for trustees. The Chair had also raised the possibility of the Thomas Layton Trust being considered as custodians of London's biggest mud larker as a way of promoting the collection displayed at the museum.

Gunnersbury Stables Update

Howard Simmons was scheduled to provide a verbal update on Gunnersbury Stables. Councillor Salman Shaheen reported that he was aware of officers attempting to hold discussions with both Hounslow and Ealing councils regarding this matter, but was unsure if these discussions had taken place. Howard Simmons had reportedly sent contact details for Heritage England to Councillor Shaheen, suggesting that the backing of the councils was required for any progress.

Insurance and Cataloguing

The meeting was also scheduled to address insurance matters. The Chair noted that while the Trust had previously benefited from insurance advice from council colleagues, this had not been available more recently. Attention was drawn to the differences between replacement and conservation costs, with the Trust seeking advice on keeping premium costs down. Adam Grounds had liaised with Ruth Baker from Hounslow Council's Insurance Team, who would seek an insurance quote to the Trust's specifications. Questions were to be raised regarding whether the Trust required cover for transit and temporary removal of items from storage. Councillor Gerald McGregor suggested that it was usual for the 'loaner' to cover loan insurance and any recovery costs, and that this should be incorporated into the insurance strategy. It was also noted that the Trust no longer provided long-term loans to individuals, with items instead being taken to Feltham Library for on-site access. The arrangement with the Museum of London was noted as a long-term arrangement requiring separate negotiation.

A discussion was also scheduled regarding a proposed cataloguing project for the Layton Trust, as detailed in the document Layton Trust proposed cataloguing project - March 2026 .¹

Other Business

Under Any other urgent business , an update on the move of the Collection to Stockroom was noted, with Adam Grounds expected to report back to trustees once he had the opportunity to request items. The meeting was also scheduled to note the date of the next meeting, which was set for Wednesday, 15 July 2026.

Additionally, trustees were to record their congratulations to Janet McNamara, who had been awarded the One Hounslow Community Star award by Hounslow Council for her work with people, her role as a founder member of the Hounslow Heritage Guides, leading historical walks around Brentford, researching and writing the Boston Manor House guidebook, volunteering at Chiswick Library's Local Studies Department, and serving as a trustee of the Thomas Layton Trust.