The Thomas Layton Collection discussed the Trust's accounts and investments, an update from the London Museum, the relocation of the collection to Stockroom, and an update on Gunnersbury Stables. The trustees delegated authority regarding insurance of the collection to James Wisdom and Howard Simmons, in consultation with council officers.

Trust Accounts and Investments

Samantha Grey-Wilson provided an update on the Trust's accounts and investments.

Vicky Couchman, Strategic Finance Manager, had previously confirmed at a meeting on 7 October 2024 that the Trust's accounts had been lodged with the Charity Commission. At that time, she also reported that £13,000 was held in the Co-op account. While the equity fund had increased in value at BlackRock, the bond fund was performing poorly. However, the overall value of the Trust's investments remained healthy.

According to the Public Reports Pack, the Trust's investment income for the year was £6,866, and the investments were valued as follows:

• UK Bond Fund (BLK Charities UK Bond Fund A Inc): £47,293
• UK Equity Fund (BLK Charities UK Equity Fund A Inc): £132,751

The net unrealised investment gain for the year was £1,416.

Collection Relocation to Stockroom

Adam Grounds provided an update on moving the collection to Stockroom London, a storage facility in Woolwich.

The boxed-up collection was moved smoothly and efficiently by Stockroom staff on 31 October. Shelving of the collection was delayed by discrepancies between the spreadsheet recording the contents of each box and the actual contents of a small number of boxes, likely caused by movers cutting corners in 2017. The Local Studies & Archives Manager made several trips to Woolwich to check the contents of the boxes and correct the shelving order. This process was completed in early January, since which time the books of the Thomas Layton Collection have resided on shelving in reference number order in a climate-controlled storage environment. Online access to the libraries' electronic catalogue entries relating to the Layton Collection was restored on 25 October as planned.

London Museum Update

Kate Sumnall provided an update on the London Museum.

English Heritage requested the use of the image of the beaker P16 for a new guidebook for Grimes Graves. The Museum's picture library was able to support this request and provide a photograph that had been taken by the museum's photographers.

The Museum's new temporary exhibition Secrets of the Thames opened in London Museum Docklands on 4 April, and is due to run until 1 March 2026. It features over 250 mudlarked objects, plus artworks and objects from the Museum's collections where they show a more complete version of a mudlarked find. These include a tranchet adze from Layton's collection used within a case exploring the special and the everyday from Prehistory and is contrasted with a sculpture by Kabir Hussain which explores what future mudlarks will find.

Gunnersbury Stables Update

Howard Simmons provided an update on Gunnersbury Stables.

At a previous meeting on 7 October 2024, Howard Simmons briefed trustees on the work to develop the proposal for lottery funding for the Expression of Interest submission to the Heritage Lottery Fund¹. The proposal included using one of the stable blocks for storage and local studies rooms and the other block for heritage workshops and crafts. Heritage England (HE) advice was that £3m would be required to secure the buildings. HE was also supportive of resubmitting the Trust's bid to the Heritage Lottery Fund. The Highways Agency was also interested in providing funding toward the proposals.

Howard Simmons also reported that the small mansion had been re-roofed, but that thieves had stripped the lead from the roof and had caused £200,000 worth of damage. Responsibility for the stables and small mansion rested with Hounslow Council. Mel Fontinelle, Assistant Director Environmental Services, was now responsible for parks and had expressed an interest in meeting with Howard. Ben Knowles, Director of Culture, Communications and Engagement, was recommended as a good contact at the Council following Aretha's move from the role.

Insurance for the Layton Collection

At a previous meeting on 7 October 2024, Adam Grounds reported that he had spoken with colleagues at StockRoom about the potential insurance liabilities and how the collection would be stored.

Councillor Gerald McGregor recalled attempts in recent years to secure public art insurance through the Council. Whilst this had not been realised, the Council had a general insurance policy with Zurich Insurance that should cover any monument owned by the Council. Councillor Gerald McGregor suggested asking colleagues in the Council's Insurance team whether this policy could be extended to the Trust's collection, subject to agreement to a voluntary excess, which he suggested could provide a potential reduction in insurance premium costs for the Trust. Andrew Wood agreed to follow the matter up with Ruth Baker, Insurance Manager at the Council.

The Chair pointed out that, at Companies House Hounslow Council was identified as the person responsible for the Trust, not the trustees. Despite the fact that the trust was effectively owned by the Council, it was not covered. The Chair reported that of the insurance brokers researched, Gallaghers had been considered the best suited to the trust's needs. Gallaghers had placed a contract with Hiscox, which had the monopoly on fine art insurance.

In discussion all trustees present agreed to delegate the decision on insuring the collection James Wisdom and Howard Simmons, in consultation with Council officers.