The V&A displays collections of Arts from Armour to Kimono and from furniture to ceramics. The collection of ceramics has contemporary 20th century items displayed alongside period pieces. Sadly much of the collection is not on display to the public. The ceramic galleries are currently closed and a two phase refurbishment is due to open in 2010. For more information please see the link at the bottom of the page. If you live in London I would highly recommend a visit as there is much to see.
The main exhibition spaces at the V&A are still free to enter, but if you can you should donate to keep the collections available to all.