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2023-11-30-accounts

Charity registration number 1008856

Company registration number 02663453 (England and Wales)

THE MUSEUM OF BERKSHIRE AVIATION TRUST ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

THE MUSEUM OF BERKSHIRE AVIATION TRUST

LEGAL AND ADMINISTRATIVE INFORMATION

Trustees Mr. K Fostekew Mrs. J Fostekew Mr. T Hensley Mr. D Scott Charity number 1008856 Company number 02663453 Registered office The Museum of Berkshire Aviation Mohawk Way Woodley Berkshire RG5 4UE Independent examiner Azets Suites B&D c/o Azets Burnham Yard Bucks United Kingdom HP9 2JH

THE MUSEUM OF BERKSHIRE AVIATION TRUST

CONTENTS

Page
Curator's report 1
Trustees report 2 - 3
Independent examiner's report 4
Statement of financial activities 5
Balance sheet 6
Notes to the financial statements 7 - 14

THE MUSEUM OF BERKSHIRE AVIATION TRUST CURATOR'S REPORT FOR THE YEAR ENDED 30 NOVEAIBER 2023 Since the AGM of May 2023 visitor numbers have bo8n very good, nine School vists, other group visits indude 8eaver groups, U3A's, rn￿181 engineer a88O¢lations and othw historical socitrties totsling 12 separate groups. In March th8 ITN Film Unil spent a day at the Museum to use our HP Dart Herald as a subslilutg for F271Fairchild aircraft that crashed in the Andes w7th a football team on board. The film was titled 'Air Crash in theAndes" and was screened in the autumn. An unusval request from Iha Royal Military Police to use thè Museum for trainlng officers for dose protectKn of VIP'S lo include Royalty. and forèign dignitaries, MPS etc. The RMP Officers made three visit5, following th¢ RMP. the Museum was approached by the Thames Valley Polica also for clos• protection training. 1, along with my wrfe. attended the fun&fal of Mr Jer&my Miles, the son of F. G antj Maxine (Blo&sornl Miles at Worthing c￿matoriUM it was very well attended by fn'ends and famity. The Handley Page Dart Herald has been cleaned and paintèd professionally by a cornpany from Norwich and is now looking very smarL We cannot praise the company enough,. th8y were very punctUBI and were on Slght at 7am 8v8ry day. Th8 job was finished just at the start of the Christmas p8riod. It now femains for the same treatment to be ¢8rrid out on our other outside exhibit. th& Fairey Gann&L the painter¥ 8re awaiting suilable weather condits'ons. The shop and Cafe is doing very well. with sales of toy aeroplanes very popular, also Ihe hand made toy aeroplanes made by Museum member Mr Keith Searfe sell vory quickly and ar6 very attractive to young childrèn. We are stil having donatiorFS of books and they 3(• sold in our $hop. some are Sold 8t the Wesl London Aerodub in aid of the Thamas ValleyAirAmbulance. We are pleased to say that we now have five new volunteers which is a great h81p at weekend opening timas. ￿S0. we have Mr Les Ajexander who is maintaining the grass and keeptng the site clean and iidy and wdl kepL Mf Robin Buckland ha8 tsken on the role of Fire Safety Officor. liaising with Firg Safety Officer al Wokingham Community Fire Stsdon. Robin, having held the posth.on with John Lews at Bracknell 8 number of years. Health and Safety is of course incumbent on 411 ol us to be well aware of. We al80 have several"Inlerdcive" exhibits, clevèrfy devised by volunteers Mr Gr8ham Pricket and Mr Martin Hlggs. all very popularwth both young and dd visito￿. Ken Fostek Curator Date..

THE MUSEUM OF BERKSHIRE AVIATION TRUST

TRUSTEES REPORT (INCLUDING DIRECTORS' REPORT) FOR THE YEAR ENDED 30 NOVEMBER 2023

The trustees present their annual report and financial statements for the year ended 30 November 2023.

The financial statements have been prepared in accordance with the accounting policies set out in note 1 to the financial statements and comply with the Trust's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)".

Objectives and activities

The charity's objectives and principal activities continue to be that of educating the public at large in aviation matters and stimulating the interest and involvement of young people in aviation, promoting an awareness of flying matters as a sporting and recreational activity, promoting research into the history of aviation and its relevance to future developments in aviation and identifying the County of Berkshire's contribution to the history of military and commercial aviation.

In setting our objectives and planning our activities, we have given careful consideration to the Charity Commission's general guidance on public benefit.

Public benefit

The museum has reconstructed and is exhibiting a number of historic aircraft along with fascinating pictorial records and priceless archives. The museum welcomes group visits and runs an active educational programme for schools, linked to National Curriculum requirements, demonstrating the development of aviation techniques.

The museum is open to anyone with an interest in aviation history.

Achievements and performance

The achievements of the charity for the year are set out in the Chairman's statement.

Financial review

At 30 November 2023 unrestricted funds totalled £198,749 (2022: £206,954).

The charity's policy is to keep sufficient funds in reserve to protect the charity in the event of a fall in income and/ or increase in expenditure.

The trustees have assessed the major risks to which the Trust is exposed, and are satisfied that systems are in place to mitigate exposure to the major risks.

Structure, governance and management

The charity is constituted as a company limited by guarantee, and is therefore governed by the memorandum and articles of association.

The trustees, who are also the directors for the purpose of company law, and who served during the year and up to the date of signature of the financial statements were:

Mr. K Fostekew Mrs. J Fostekew Mr. T Hensley Mr. D Scott Mr. G Etridge (Retired 1 December 2022)

THE MUSEUM OF BERKSHIRE AVIATION TRUST TRUSTEES REPORT (INCLUDING DIRECTORS. REPORT) (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023 Appolnlm•nt and Inductlon of members of the council The minimum number of [￿MberS of the COLtncil is three. The maximum number of members is detemiined by the company at general meeting. The members are appointeil by vote al the annual general mgèting. Very little training 1$ requlred by the mombers of the ￿￿ncil. The Trustees report was 8pproved by the 8oard of Truste8S. Mr. K Fostek•w Tnjstee

THE MUSEUM OF BERKSHIRE AVIATION TRUST

INDEPENDENT EXAMINER'S REPORT

TO THE TRUSTEES OF THE MUSEUM OF BERKSHIRE AVIATION TRUST

I report to the trustees on my examination of the financial statements of The Museum of Berkshire Aviation Trust (the Trust) for the year ended 30 November 2023.

Responsibilities and basis of report

As the trustees of the Trust (and also its directors for the purposes of company law) you are responsible for the preparation of the financial statements in accordance with the requirements of the Companies Act 2006 (the 2006 Act).

Having satisfied myself that the financial statements of the Trust are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Trust’s financial statements carried out under section 145 of the Charities Act 2011 (the 2011 Act). In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act.

Independent examiner's statement

I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect:

I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the financial statements to be reached.

Mr C J Nisbet FCA Azets Audit Services

c/o Azets Burnham Yard London End Beaconsfield Bucks HP9 2JH

Dated: 14 May 2024

THE MUSEUM OF BERKSHIRE AVIATION TRUST

STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT

FOR THE YEAR ENDED 30 NOVEMBER 2023

Unrestricted Unrestricted
funds
funds
general
designated
2023
2023
Notes
£
£
Income and endowments from:
Donations and
legacies
2
2,924
-
Other trading
activities
3
26,833
-
Investments
4
1,305
-
Other income
35
-
Total income
31,097
-
Expenditure on:
Charitable activities
5
39,302
-
Net outgoing resources
before transfers
(8,205)
-
Gross transfers
between funds
10,000
(10,000)
Net income/(expenditure)
for the year/
Net movement in funds
1,795
(10,000)
Fund balances at 1
December 2022
196,954
10,000
Fund balances at 30
November 2023
198,749
-		 Total
Unrestricted Unrestricted
funds
funds
general
designated
2023
2022
2022
£
£
£
2,924
6,638
-
26,833
23,155
-
1,305
44
-
35
-
-
31,097
29,837
-
39,302
36,738
-
(8,205)
(6,901)
-
-
-
-
(8,205)
(6,901)
-
206,954
203,855
10,000
198,749
196,954
10,000		 Total
2022
£
6,638
23,155
44
-
29,837
36,738
(6,901)
-
(6,901)
213,855
206,954
Donations and
legacies
2
Other trading
activities
3
Investments
4
Other income
Total income
Expenditure on:
Charitable activities
5
Net outgoing resources
before transfers
Gross transfers
between funds
Net income/(expenditure)
for the year/
Net movement in funds
Fund balances at 1
December 2022
Fund balances at 30
November 2023

The statement of financial activities includes all gains and losses recognised in the year.

All income and expenditure derive from continuing activities.

The statement of financial activities also complies with the requirements for an income and expenditure account under the Companies Act 2006.

THE MUSEUM OF BERKSHIRE AVIATION TRUST BALANCE SHEET ASAT30 NOVEMBER 2023 2023 2022 Notes Flx•d o$s0ts Tangible assets 706 12,458 Curr•nt a•s•ts Stock5 Debtors C8s1) at bank and in hand 10 11 532 2,292 197,878 409 1,559 195,869 200,702 197.837 Credito¥¥: •mounts falllng wlthln on• yaar 12 12.6591 13.3411 Net ulrront assets 198,043 194.496 Tt>tal ass•ts less ¢urr¢nt Ilabllltles 198.749 206,954 Incom• funds Un strtcted funds Designated General unrestrictsd funds 13 10,000 196,954 198.749 198,749 206,954 198,749 206,954 The o)mpony is entiYe(I to the exemption from thè audit requirement contsine(l in $0¢￿n 477 of Ihe Companie$ Act 2006, for thè year ended 30 November 2023. The directofs acknowl8dg8 Iheir responsibillligs for co￿Y1n9 with the reqijiremgnts of the Companies Act 2006 with respect to aryounting recor(Is and the preparation of financial slatements. The mombers have not required the com￿nY to obtain an audf( of lis fjnancial ststsments fcf the year in que81ion In accordance wrfh section 476. Th88e financial 8tstgmonts have been prepared in ar£ord¥n￿ with the provi¥ions ap￿ICable to cwanles subject to Ihg smal companies f¢gime. F.5.2+ fin8ndal statemants wwe approved by th8 Trustees on .................. Mr. K Fostekew Trusts• Company rnglstratlon numb•r 02663453

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

Charity information

The Museum of Berkshire Aviation Trust is a private company limited by guarantee incorporated in England and Wales. The registered office is The Museum of Berkshire Aviation, Mohawk Way, Woodley, Berkshire, RG5 4UE.

1.1 Accounting convention

The financial statements have been prepared in accordance with the Trust's governing document, the Companies Act 2006 and "Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)". The Trust is a Public Benefit Entity as defined by FRS 102.

The Trust has taken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not to prepare a Statement of Cash Flows.

The financial statements are prepared in sterling, which is the functional currency of the Trust. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2 Going concern

At the time of approving the financial statements, the trustees have a reasonable expectation that the Trust has adequate resources to continue in operational existence for the foreseeable future. Thus the trustees continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3 Charitable funds

Unrestricted funds are available for use at the discretion of the trustees in furtherance of their charitable objectives.

Designated funds comprise funds which have been set aside at the discretion of the trustees for specific purposes. The purposes and uses of the designated funds are set out in the notes to the financial statements.

1.4 Income

Income is recognised when the Trust is legally entitled to it after any performance conditions have been met, the amounts can be measured reliably, and it is probable that income will be received.

Cash donations are recognised on receipt. Other donations are recognised once the Trust has been notified of the donation, unless performance conditions require deferral of the amount. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation.

Legacies are recognised on receipt or otherwise if the Trust has been notified of an impending distribution, the amount is known, and receipt is expected. If the amount is not known, the legacy is treated as a contingent asset.

1.5 Expenditure

Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

1.6 Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold improvements Fixtures and fittings

15% reducing balance / over life of lease 15% reducing balance

The museum's exhibits are not included in the balance sheet in accordance with the SORP as reliable cost information is not available and conventional valuation approaches lack sufficient reliability.

Donated assets are capitalised at market value.

1.7 Heritage assets

The Museum of Berkshire Aviation has a collection of aircrafts, displays, photographs, artifacts, books and paintings which are held in support of the Museum's primary objective of spreading and increasing knowledge and appreciation of Berkshire's aviation history.

However, the majority of the aircraft are on loan from either other aviation museums, or from private individuals; the latter aircraft arriving at the museum in a very poor or in scrap condition. Volunteers have worked for some years to restore them to a suitable condition for static exhibition.

Thus, the aircraft are not Heritage Assets to the Trust as defined and, with the other items in the collection, are not recognised in the balance sheet as cost information is not readily available and the Trustee's believe that any benefits in obtaining valuations would not justify the costs.

1.8 Impairment of fixed assets

At each reporting end date, the Trust reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any).

1.9 Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Items held for distribution at no or nominal consideration are measured the lower of replacement cost and cost.

Net realisable value is the estimated selling price less all estimated costs of completion and costs to be incurred in marketing, selling and distribution.

1.10 Financial instruments

The Trust has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Trust's balance sheet when the Trust becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

1 Accounting policies

(Continued)

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.11 Employee benefits

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the Trust is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.12 Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

2 Donations and legacies

**Unrestricted ** Unrestricted
funds funds
general general
2023 2022
£ £
Donations and gifts 2,924 2,638
Grants receivable - 4,000
2,924 6,638
Donations and gifts
Donations from individuals 1,698 2,123
Corporate donations 901 50
Gift aid 325 465
2,924 2,638

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

3 Other trading activities

**Unrestricted ** Unrestricted
funds funds
general general
2023 2022
£ £
Museum admissions and shop income 25,583 21,562
Subscriptions 1,250 1,593
Other trading activities 26,833 23,155

4 Investments

**Unrestricted ** Unrestricted
funds funds
general general
2023 2022
£ £
Interest receivable 1,305 44
Charitable activities
Running of
Running of
the museum
the museum
and shop and shop
2023 2022
£ £
Depreciation and impairment 11,752 11,774
Insurance 3,356 3,111
Light and heat 10,250 9,339
Rent 2,750 2,750
Rates 712 1,066
Advertising 163 273
Shop purchases 1,541 1,248
Repairs and maintenance 2,996 1,375
Establishment costs 3,346 3,498
36,866 34,434
Share of support costs (see note 6) 636 454
Share of governance costs (see note 6) 1,800 1,850
39,302 36,738

5 Charitable activities

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

6 Support costs

Support costs
Support
costs
Governance
costs
£
£
Administration
284
-
Card fees
352
-
Independent examination
and accountancy fees
-
1,800
636
1,800
Analysed between
Charitable activities
636
1,800		 2023Support costs Governance
costs
£
£
£
284
247
-
352
207
-
1,800
-
1,850
2,436
454
1,850
2,436
454
1,850		 2022
£
247
207
1,850
2,304
2,304

7 Trustees

None of the trustees (or any persons connected with them) received any remuneration or benefits from the Trust during the year.

8 Employees

The average monthly number of employees during the year was:

2023 2022
Number Number
Total - -

There were no employees whose annual remuneration was more than £60,000.

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

9
Tangible fixed assets
Leasehold
improvements
Fixtures and
fittings
£
£
Cost
At 1 December 2022
209,406
5,055
At 30 November 2023
209,406
5,055
Depreciation and impairment
At 1 December 2022
197,158
4,845
Depreciation charged in the year
11,721
31
At 30 November 2023
208,879
4,876
Carrying amount
At 30 November 2023
527
179
At 30 November 2022
12,248
210
10
Stocks
2023
£
Shop stock
532
11
Debtors
2023
Amounts falling due within one year:
£
Other debtors
578
Prepayments and accrued income
1,714
2,292
12
Creditors: amounts falling due within one year
2023
£
Accruals and deferred income
2,659		 Total
£
214,461
214,461
202,003
11,752
213,755
706
12,458
2022
£
409
2022
£
479
1,080
1,559
2022
£
3,341

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

13 Designated funds

The income funds of the charity include the following designated funds which have been set aside out of unrestricted funds by the trustees for specific purposes:

Movement
in funds
Balance at
1 December
2021
Incoming
resources
Balance at
1 December
2022
£
£
£
Educational fund
10,000
-
10,000
10,000
-
10,000		 Transfers
Balance at
30 November
2023
£
£
(10,000)
-
(10,000)
-		 Transfers
Balance at
30 November
2023
£
£
(10,000)
-
(10,000)
-
-

The fund was established to be used on specific projects relating to education, but is has subsequently been determined by the trustees that a separate fund is not required.

14 Analysis of net assets between funds

Unrestricted
funds
Designated
funds
2023
2023
£
£
Fund balances at 30
November 2023 are
represented by:
Tangible assets
706
-
Current assets/(liabilities)
198,043
-
198,749
-		 Total Unrestricted
funds
Designated
funds
2023
2022
2022
£
£
£
706
12,458
-
198,043
184,496
10,000
198,749
196,954
10,000		 Total
2022
£
12,458
194,496
206,954

THE MUSEUM OF BERKSHIRE AVIATION TRUST

NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 30 NOVEMBER 2023

15 Operating lease commitments

At the reporting end date the Trust had outstanding commitments for future minimum lease payments under non-cancellable operating leases, which fall due as follows:

Within one year
Between two and five years		 2023
£
2,750
3,896
6,646		 2022
£
2,750
6,646
9,396

16 Related party transactions

There were no disclosable related party transactions during the year (2022 - none).