COMPANY REGISTRATION NUMBER: 2888174 CHARI REGISTRATION NUMBER: 1034671 Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Unaudited Financial Statements 30 November 2023 FROST & COMPANY Chartered Accountants Unit C, Regent House 9 Crown Square Poundbury Dorset DT1 3DY
Bournemouth Aviation Charitable Foundation Company Limited by Guarantse Financial Statements Y•ar •nd•d 30 November 2023 Page Trustees, annual report {incorporats'ng the directorfs report) Independent examiner's report to the trustees Statement of financial activtties {induding income arKI expenditure account) Statement of financial position Noles lo the financial statements The following pages do not forni part of the financial statements Delailed statement of financial activrties 15 Notes lo the detailed statement of financial activities 17
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Trustees. Annual Report (Incorporallng the Directorf8 Report) Year ended 30 November 2023 The trustees, who are also the direclofs for the purrA)se5 of company l•w. present their p)rt and the unaudrted financial statements of the charity for the year ended 30 November 2023. Reference and admlnl8tratlve detall8 Roglstered charlty name Boumemouth Aviation Charilable Foundation Ch•rity rngistraljon numb•r 1034671 Company reglstration number 2888174 Principal office and registered Unrt C, Regent House offic• 9 Crown Square Poundbury Dorchester Dorset DT1 3DY The tni8tee8 Mr C Skipton Mr N Hallett Mr P Nesbitt Mrmmery Mr C Whybrow Mr M H Phipp (Rets'red 15 May 20231 (Apwinted 5 June 2023} (Appointed 1 Juty 2023) (Retsred 11 June 2023) Independent gxamlner Mf S J Frost Unrt C, Regent House 9 Crown Square Poundbury Dorsel DT13DY
Bournemouth Aviation Charitable Foundation Company Limited by Guarantse Trustees. Annual Report (Incorporatlng the Dlrectorfs R•port) (¢onlinuedJ Year ended 30 November 2023 StruCTe, governan¢e and manag¢m¢nt Principal Activity The pnnapal actNity of the company dunng the year was that ol running an aViatn museum. Log•1 Status The charity is a company limited by 9uaiantee and is g¢)vemed by rts nmofandum and artlcles of asswation. The company is also a registered charity. Manag•mont The trustees are responsible for the overall management and conlrd of tha museum. Th? trustees meet monlhty to discuss the development, managennt and implementsbon of the chanty's strategic aims and objectives. Rlsk Ilanagemenl The Iruslees have considered and anatysed Ihe major risks to whh the charity 18 exposed and e$labli5hed 5ySterns and pr¢xedufes to manage those risks. This also includes an on-going review process. ObJ•ctlv•• and activltl•• Following cessab.on of the COVKI 19 restrictions the nxtseum was fulty open whth has lo an improvement in tumover from Charrtable activrties of £6,017 during the year. The Charity also donated £11,350 lo the Solenl Sky, another aviakn'on museum based in Southamplon.
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Trustees. Annual Report {Incorporating the Director'8 Report) (cvnaFny¢dJ Year ended 30 November 2023 Achlevements and perfomian¢e Management The elected Twstees are responsible for the daY-tdaY managem8nt and operation. Volunteern Volunteers undertake the daily runnin9 of the museum, within the poliGie5 and pra¢tice$ set out by the trustees. The Iruslees recognise that without this commitment and support the museum would not nclion, as there are no paid staff. Tho Communlty Volltnleers come from a wide cross-seclion of the local community., the museum encourages those wtth health problems and other difficulties lo h81p at the museum. Futuro dovelopment The museurn's administratlve, marketing and IT systems have been ovefhauled. In this context we will attempt lo provide relevant platfomis for university courses which will prove to be mutually beneficial. It 15 also the plan to provide education lo all on aeronautical matters. We believe Ihatthis will te synthcant lo the continued development of the museum. Flnan¢lal rnvlow Roser¥o8 though turnover has increased during the year costs have also risen resulbng in a deficit of £2,251. The Charity has acquired further exhibits during the year notably a Hunter T2 aircraft and a Lynx Helicopter. In addition the Charity has spent £52,481 on improvernenls to the museum site notably the installatn of a septsc tank and loil&l refurbishments. Tho Increased expendItU has resulted in a fall in reserves of £2,251. Cash erVeS have fallen bul are sufficient lo meet the day lo day costs Incurred by the museum. Small company pro¥l8loni This report has been prepared in accordance with the provisions appluble to companies frnlilled lo the small companies exemption. The twstees, annual report was approved on l..¥. tru¥tees by.. ..%.¥.... and signed on behaff of the board of MT C Whybrow Trustee
Bournemouth Aviation Charitable Foundation Company Limitsd by Guarantse Independent Examiner's Report to the Trustees of Bournemouth Aviation Charitable Foundation Year ended 30 November 2023 report to the trustees on my examination of the financial 51alements of Bournemouth AvIaln Chafitable Foundalion I'the charity'} for the year ended 30 November 2023. RpOnsIbl11t10S and basls of roport A6 the trustees of the company land also its directors for the purposes of company lawl you are responsible for the preparation of the financial statements in accordance wilh the requirements of the Companies Act 20061.the 201% Act'i aving satisfied mysetf that the accounts of the company are not required lo be audited under Part 16 of the 2006 Act and are eligible lor independent examination, I report in re5peGI of my examination of the charity's accounts as carried out under sectson 145 of the Charities Act 2011 I'lhe 2011 ACVI. In carrying out my examination I have followed the Direction5 given by the Charity Commission under section 145{5llbl of the 2011 Act. IndependoTrt examlner's •tatemenl I have completed my examination. I confim that no matters have come to my attenbon in connection with tho examination giving me Cause lo believe.. accounting records were not kept in respect of the charity as required by $8etion 386 of the 2006 Act,. or the financial statements do not accord with those records., or the financial statements do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fairf view which is not a matter considered as part of an independent examination., or the financial stalemanls have not been prepared in accordance with the n*lhods and principles of the Statement of RernMended Practice for accounting and reportin9 by charities applicable to charities preparing their accounts in accordance with the Financial Repon9 Standard appluble in the UK and Republic of Ireland IFRS 102). I have no concems and have come across no other matters in connection with the examination lo which attention should be drawn in this report in order lo enable a proper understanding of the accounts lo be reached. MrSJ rost Independent Examiner 2.'2¢t Unrt C, Regent House 9 Crown Square Poundbury Dotset DT130Y
Bournemouth Aviation Charitable Foundation Company Limited by Guarantse Statement of Financlal Activities (including income and expenditu account) Year ended 30 November 2023 2023 Unrestricted fvnd5 Total fund$ 2022 Total fiJnds Note Income and endowments Donations and legacies Chantsble activitie5 Investment income 4,135 131,104 885 4,135 131,104 885 3,612 125,087 332 T¢)tal Incomo 136,124 136,124 129,031 Expenditurg Expendrture on charitable activrties Total expenditurn 138,375 138,375 138,375 104,343 138,375 1 t)4,343 Net (exp8ndltureVlncome and net movemont In fvnds {2,251) 12.251) 24.688 Reconclllatlon of funds Total funds brought forward Totsl funds carrfod foTward 150,176 147.925 150,176 147,925 125,488 150,176 The statement of financial actsvitie5 includes all gains and losses recognised in the year. AJI income and expenditure derive from continuing activities. Th• notes on p890$ 7 to 13 fomi part of those flnanclal ststements.
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Statement of Financial Position 30 November 2023 2023 2022 Note Flxed assets Tangible fixed assets 13 80,180 30.746 Currwrt ¥s••ts Stocks Cash at bank and in hand 14 1.781 68.989 1.771 119,930 70.770 121,701 Crodltord: amounts falling due within ono y••r Not currnnt a88018 15 3,025 2,271 67,745 119.430 Total •M•ts lu• curr•nt Ilabllllle8 147,925 150,176 150,176 N•t ets 147.925 Funds of the charlty Unreslricled funds 147,925 147.925 150.176 Tot•1 ¢h•rlty fvnd8 16 150,176 For the year ending 30 November 2023 the charity was entitled lo exemption from audrt under section 477 of the Companies Act 2006 lating to small companies. Directors. responsibilities.. The members have not wuir¢d the ¢ompany to oblain an audrt of its financial statements for thé year In qUestn in 0rdance wrth section 476". The directors acknowledge their responsibilities for complying with the requirements of th8 Act with respect lo accounting records and the prep3rats.on of financial stateffenls. These financial statents have been prepared in a(thrdance with the provisions applicable to companies subject to the small companies, regime These fmancial statements were approved by the board of trustees and authorised for issue on and are syned on behall of the board by.. f£L5L Mr C YbroW Trustee The notes on pages 7 to 13 lorni p¥rt of these financial slatèm•nts.
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Notes to the Financial Statements Year ended 30 November 2023 Gonoral informatlon The charity Is a public benefit entity and a private company limited by guarantee. registered in England and Wales and a registered charity in England and Wales. The address of the registered office is Unit C, Regent House, 9 Crown Square. Poundbury, Dorchester, Dorset. DT13DY. Statement of compliance These financial statements have been prepared in compliance with FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland,, the Statement of Recommended Practice applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 102} (Charities SORP IFRS 10211 and the Companies Act 20C6. Accounting policios Ba81$ of preparation The financial statements have been prepared on the historical cost basis, as modified by the reValuatn of certain financial assets and liabilitses and investment properties measured at fair value through income or expenditure. The financial ststements are prepared in sterling, which is the fundional currency of the entity. Golng concern There are no material uncertainties about the chanty's ability to continue. Fund accountlng Unresth'cted funds are available for use al the discretion of the trustees io further any of the chanty's purposes. Designated funds are unrestricted funds earmarked by the trustees for particular fvre project or mmibnent. Restricted funds are subj'ected to reslriclions on their expenditure declared by the donor or through the terms of an appeal, and fall into one of sub-classes.. restricted income fvnds or endowment funds.
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Notes to the Financial Statements (COrfin&*dJ Year ended 30 Novèmber 2023 Accounting policles fc0Trlinj Incomlng resources I Incoming resources are induded in the stalemenl of financial acINit when ents'eMent has passed to the charity; it is probab that the economic beneffts associated with the transacts.on will flow to the chanty and the amount can reliabty measured. The following specific policies are applied to particular categones of Inco. ir¢come from donations or grants is recoJnised when there is evenCe of entitlement to the gfft, receipt is probable and rts amount can be ffasured reliabty. legacy income is recognised when receipt ts probable and entlUent is established. income from (h)nated goryJs is measured at fair value of the g(M)ds unkss this is impractr.cal lo measure reliabty, in which case the value is derived from the cost to the donor or the ests"mated resale value. Donated facilities and SerVS are recognised in the accounts when recerved rf the value ¢an be reliabty measured. No arUnts are included for the contnkyjtion of general volunteers. income from conttscts for the supply of services is recc¥Jnised with the delivery of the contracted servte. This is dassffied as unrestrthd fijnds unless there is a contractual requirement for rt to be spent on a paTb"euLar purpose and returned rf unspent, in which case rf( may regarded as resthcted Resources expended Expenditure is recognised on an accruals l)a5is as a lia"lty Is incurred. Expenditure includes any VAT which cannot be fulty recovered. and is classified under headings of the statent of financial activities to whth il relates. expenditure on raising funds indudes the cosls of all fundraBing activib'es, events, non- chantsble trading activeS, and the Sa of donated goc#Js. expendthjre on charrtable &fvities Indudes all costs incurred by a chartty in undertaking actwitEs that further its charrtable aims for the benefit of its beneficiaries, including those support costs and costs relab.ng to the govemano of the chanty apportKmed to charitable aCtNit. other expendrture includes all expenditure that is neither related to raising funds for the charity nor part of its expenditure on charrtable actrts. All Costs are allocated to expenditure categor5 refieth.ng the use of the resource. Direct costs attn"butable to a single actwity are alkxated directly lo that activity Shared costs are apporttoned belween the activrties they contribute to on a reasonable. jusffiable and conststent basis. Tangibl• a88ets All fixed assets are initkglty lerded at cost.
Bournemouth Aviation Charitsble Foundation Company Limited by Guarantee Notes to the Financial Statsmènts {conlThu•o) Year ended 30 November 2023 Accountlng polkies (¢onllnu•dJ Depreciation Depreciab"on is cakulated $0 as to wnte off the cost or valuabon of an asset, less ts resUal value, over the useful economic life of that asset as follows". Exhibits Equipment Computer equipment Leasehold impn)vernents 10% straight line 25% reducing balance 30% reducing balan 33% straighl line Impairnient of fixed assets A review for indicators of impairnEnt is carried out at each repjrb.ng date, with the recoverable amount being estimated where such indutors exist. the carying value exceeds the recoverable amount, the asset is impaired xcAJrdingty. Prior impainnenls are also reviewed for possible reversal at each TeFQrting date. For the Pufposes of impaimEnt testing, when it is not FKJssibk to estimate the recoverable amount of an indNidual as5el. an estsmate is made of the recoverable anN)unt of the cash-generating unit to which the asset belongs. The cash-9enering unrt ts the smallest identifiable gTOUP of assets that includes the asset and generates cash inflows that largety independent of the cash inflows from other assets or groups of assets. For impaimient testing of gcx>Jwill. the goodwll acquire(l in a business combinabon is, from the acquisitK>n date, allocated lo each of the cash-generatsng unrts that are expected to benefft from the synergies of the combinab'on, irrespective of whether other assets or liabilibes of the tharity are assigned to those unts. Sto¢ks Stwk5 are rrEa5ured at the lower of cost and estimated selling Fyr less (x>sts to cnmplele and sell. Cost includes all costs of purchase. costs of Convers and other costs incurred in bringing the slock to ris present ILXatn and condrtion. Flnanclal Instruments A financial asset or a financial liability is reccgnised onty when the charity bMeS a party lo the contractual provisions of the instnjment. Basic financial instrvments are inal recognwd at the amount receivable or payable including any related transaction costs. Current assets and current liabiliti'es are subsequentty naSured at the cash or other consideration expected to be pabj or received and not discounted. Debt instruments are subsequenty Isured at aftlised cost.
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Notes to the Financial Statements (¢Onlthu Year ended 30 November 2023 A¢¢ountlng pollcies (conthiu•o) Flnancial initruments (con11ft&) ere investments in shares are pUblY traded or their fair value can otherwise be measured rdrabty, the investment is subsequently measured al fair value with changes in fair value recogntsed in income and expenditure. All other such lnveslffnts are subsequentty measured at cost less impairment. Other financial InstrUEntS, induding derivab"ves. are inilialty recognised at fair value, unless payment for an asset is defeed beyond nornal business tem)s or financed at a rate of interest that is not a market rate, In which case the asset is measured at the present value of the fvlure payThnts discounted at a market rale of interest for a similar debt lnstnsnt. Other financial instTumenls are subsequendy measured al fair value, with any changes recognised in the statement of financial acIN1ts. wrth tre exception of hedging instrurmnts in a designaled hedging relationship. Financial assets that are measured at cost or amortised cnst are reviewed for objective evidence of impaim)enl at the end of each reporb'ng dale. If there is obiectNe evidence of impaimenl, an impaimient loss is recognised under the appropnate heading in the slatement of financial xtivilies in which the initial gain was recognised. For all equity instruments regardless of SnIficanCe. and other financial assets that are individually significant, these are assessed Individually lor 1mpairnnI. Other financial a55els are either assessed 1rKlivua1IY or grouped on the basis of similar credit risk characteristics. Any reversals of impairffEnl are recognised immediatety, to the extent that the reversal does not result in a carrying arrnunt of the financial asset that exceeds whal the carying amount would have been had the impainnenl not previousty teen rec(gnised. Llmltgd ty guarant•e Every member promises, if the charity is diSsoe while he, she or it remains a member or within Helve months afterwards, lo pay up lo £1.00 towards the costs of dissolLrtion and the liabilTknes incurred by the Charity while the ¢ontnbutor was a rrtmber. Donallon8 •nd lega¢lo8 Unrestncted Total Funts Unrestricted Total Funds Funds 2023 Funds 2022 Donatlon• DonatnS and Grfts 4.135 4,135 945 945 Grnnts Covid 19 grants 2.eé7 2,667 4.135 4,135 3,612 3,612 10
Bournemouth Aviation Charitable Foundation Company Limited by Guarantee Notes to tho Financial Statements (contlnu¥dJ Year ended 30 November 2023 Charltablo activiti08 Unrestricted Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Museum entrance fees Shop sales 100,558 30,546 131,104 100,558 30,546 131,104 88,661 36,426 88.661 36.426 125.087 125,087 Investment Income Unreslricled Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Bank interest receivable 885 885 332 332 Expendtture on charltable actlvities by fund type Unreslricled Total Funds Unrestricted Total Funds Funds 2023 Funds 2022 Museum and shop Support costs 136,667 1,708 136,667 1,708 102,677 102.677 1.666 138,375 138.375 104,343 104.343 Exponditur8 on charitablè activiti05 by activity ty Activities undertaken directly Support Totsl ftsnd8 costs 2023 Total fund 2022 Museum and shop Govemance costs 136,667 136,667 1,708 102.677 1.666 1,708 136,667 1,708 138.375 104,343 10. Net lexpendlturevlneome Net lexpenditure)lincome is stated after ¢hargingll¢redits'ngl'. 2023 2022 Depreciation of tangible fixed assets (Gainsllbss on disposal of heritage assets Operating lease rentals 26,3TI 12.500) 1,534 7.966 631 1.510 11
Bournemouth Aviation Charitsble Foundation Company Limited by Guarantse Notes to th• Finanelal Statements (C141) Year end•d 30 November 2023 11. Independenl examination f•es 2023 2022 Fees payable to the independent examiner ts.. IrKlependent examination of the financial statements 1,705 1,667 12. Tru8te• rnmuMr•tlon and expon•e8 No remuneration or other benefits from empk)yment wrth the chanty or a r8L4ted entity were received by the trustees. During the year the tru5tee5 were pa expenses iotalling £3, {2022'.£1,5011. These expens85 were for general chantable eXpendrtu. 13. Tanglble Ilxod as8•ts Leasehold Computer Improvement Exhibits Equipnt Equipffent Total Cost At 1 Decemter 2022 Additions Disposals At 30 November 2023 57.711 25.680 15.0001 78.391 19.293 150 5,662 28,215 52,481 110,881 78,311 (5.000) 184,192 19,443 S,662 80,696 O•preclatlon At 1 December 2022 Charge for the year Disposals At 30 November 2023 35.957 6,525 12.5001 39,982 11,690 1.941 4,273 417 28,215 17,494 80,136 26,377 12.5001 104,012 13,631 4,690 45,709 Carrylng amount At 30 November 2023 38,409 5,812 972 34,987 80,180 30,746 At 30 November 2022 21,754 7,603 1,389 14. Slocks 2023 2022 Raw materials and consumables 1,781 1,771 12
Bournemouth Aviation Charitable Foundation Company Limited by Guarantse Notss to the Financial Statements (¢onllnu•d) Year ended 30 November 2023 15. Creditors: amounts falling du• within one year 2023 2022 Trade creditors Accruals and deferred income 1.080 2,271 2,271 3.025 16. Anatysls of charitable funds Unrestrlcted funds Al 1 December 2022 At 30 Novembe r 2023 Incon Expenditure General fvnds 150,176 136.124 {138,375) 147,925 Al 1 December 2021 At 30 November 2022 InconE Expenditure General funds 125,488 129,031 {104,3431 150.176 17. Analysis of nel assgts between funds Unrestricted Totsl Funds Funds 2023 Tangible fixed assets Current assets Creditors less than 1 year Net assets 80,180 70,770 {3,025) 147,925 80,180 70,770 (3,025) 147,925 Unrestricted Total Fund$ Funds 2022 Tangible fixed assets Current assets Creditors less than 1 year Net assets 30,746 121,701 12,2711 150,176 30,746 121,701 {2,271} 150.176 13