**Charity registration number 1058595**
## **COMBINED MILITARY SERVICES MUSEUM**
**ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 AUGUST 2022**
## **COMBINED MILITARY SERVICES MUSEUM**
## **LEGAL AND ADMINISTRATIVE INFORMATION**
## **Trustees**
Mr R Wooldridge Dr D A Pullen Mr J M Hulott Dr V E Ashworth te Velde Mrs A A J Percival-Borley
**Charity number** 1058595 **Registered office** Station Road Maldon Essex CM9 4LQ **Independent examiner** Azets Audit Services 3Mc Middlemarch Business Park Siskin Drive Coventry CV3 4FJ
## **COMBINED MILITARY SERVICES MUSEUM**
## **CONTENTS**
||**Page**|
|---|---|
|Trustees' report|1 - 2|
|Independent examiner's report|3|
|Statement of financial activities|4|
|Balance sheet|5|
|Notes to the financial statements|6 - 16|
## **COMBINED MILITARY SERVICES MUSEUM**
## **TRUSTEES' REPORT**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
The trustees present their annual report and financial statements for the year ended 31 August 2022.
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 charity's [governing document], the Charities Act 2011 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 main objects of the charity are to display its collection for the education of the general public, and to preserve its collection for the benefit of future generations.
The charity will co-operate with other charities, voluntary bodies and statutory authorities operating in furtherance of the objectives and to exchange information and advice with them.
The trustees have paid due regard to guidance issued by the Charity Commission in deciding what activities the charity should undertake.
The trustees are very grateful for all the efforts of the volunteers throughout the year. Excellent work has been carried out restoring the museum external tank and missile exhibits, making them first class exhibits once again.
## **Achievements and performance**
The Covid Pandemic meant the closure of the Combined Military Services Museum. During this period, the Museum's Governance was reviewed and it was decided to move to a CIO Charity and appoint new trustees. This new charity is now set up and will shortly be operational and will replacing the original charity no 1058595,
During the current financial period the Museum has continued to use funding from the Arts Council Cultural Recovery Fund to mitigate the effects of the Covid Pandemic. The Musuem was also successful in gaining funding from the Gerry Holdsworth Trust to help digitise its vast collection of documents and launch a virtual musuem.
Visitor numbers have been slowly improving during this financial period and are now back to similar levels to that achieved prior to the Covid-19 pandemic
Overall the trustees are very satisfied with the museum's activities and the charity's performance during the financial year.
## **Financial review**
The trustees believe that the year end position and financial performance during the year are satisfactory. At the balance sheet date total funds were £2,187,574(2021 - £2,191,077). Of these funds £249,674 (2021 - £241,011) relates to restricted funds.
A deficit of £3,503 (2021 - £31,422 surplus) has been returned for the year. This reflects the conclusion of much of the funding received over the last two years during the Covid pandemic to help the museum survive during this period when it had to close for significant periods of time. The charity has also taken the opportunity to invest in updating some of its proceures and carrying out some much needed repairs to the musuem and its facilities.
Most of the funds are unrestricted funds which are available for use at the discretion of the trustees in furtherance of the general objectives of the charity and which have not been designated for other purposes. The only exception to this is the lottery grant which is primarily to fund the extension of the museum and has been treated accordingly.
The levels of reserves have so far been determined by external factors as the charity becomes established, but it is expected that reserves will be determined by the need to keep a minimum level of operating working capital, especially with regard to unrestricted funds. Restricted funds are not expected to be liquid as they are likely to be tied up in the freehold building.
The trustees have examined the charity's requirements for reserves and have established a policy that unrestricted reserves should be sufficient to cover at least six months of the charity's expenditure.
- 1 -
COMBINED MILITARY SERVICES MUSEUM
TRUSTEES. REPORT (CONTINUED
FOR THE YEAR ENDED 31 AUGUST 2022
Tho trustees has as$88s•J the major risks to th• dwity Is expoi•¢ *KI wo $8Usfied that $ystrn Wo in
plxe to m$?at@ wosure to the mgi(Y fisks.
numbers as Ihe g8n8ro1 wtlic stsrtl to rotum to Tr)rmal tivles.
Struetur•* gov•man¢• Ind MagMnt
f*arity is CLMsbbJbJ by Deod ofTnJst dat•J 2*h ALiWSt aTrJ tts re$t8[0d Nmber is 1058595.
Dr DA Pullen
Mr J M HukAt
Dr V EAstfirIh t8 Vdde
MrsAA J PwrAV*eY
The 0148Ct ol the Cunbined Milrw Swvic4s Mu8eLvn 1$ to ¢th8play its ¢dlecUon f(Y ts ethKa1iC of
wblic. The trustees Pls0d *•Ath the havirKJ beèn carrtod oJi Ihis yw In ITh 7hilh th& ¢harW$
0)ml80.
COMBINED MILITARY SERVICES MUSEUM
INDEPENDENT EXAMINER'S REPORT
TO THE TRUSTEES OF COMBINED MILITARY SERVICES MUSEUM
I roport to the trust88s on my ex8mlnab.on of the finarAl slatem8nts of Comlyned MIHtary Sgry1 Museum Ilh
thantyl for thè year gnded 31 Augu 2022.
R•spon$lb51111•8 and ba•18 of r•port
As tho trusle8s of the tharity Y( are reswtsible for Ihe w•pardtion ol the finandal $talomonts in accordance wHh
the r8quirem8nts of th& Charities Aci 2011 (tr 2011 Act).
I repcKt In respe ol my examln8tkn of the fin•nryal statements ¢arr*d out under sodon 145 of th$ 2011
Act. In carying out my examlnatbjn I have followed an the appkablg Direc%1 gN8n ty the Charity Commi88ion
under 80Ctw 145(5Mbl of th• 2011 Ad.
Ind•p•nd•nt •x•mln•fs •tst•m•ni
Your attgntion is drawn to the 14ct Ihal ¢hadty h88 w•parod fin8ncial 8t8lonwnts in 8¢¢ord8nce with AccA)untln9
and R•por.g by Ch4rib"o$ weparing th96r act)?13 in aCrdanC* V+ith Ihe Financial Reporting Standard applieabltr
in tho UK and Republic of Ireland IFRS 102) In pretsren to Ihtr Accounlrng and Repo.ng by chari1.. Slattsmont
of Rocomrnendod PraclKg IssLd on 1 Awll 2005 whi¢h Ls rgferTpd to in Iho extsnt regulation¥ but hos now boon
vAthdrawn,
l understand Ihgt th1$ ha8 b•8n dono in order for fn•rK681 statomonts to prowdo a trug and tslr •W In atrArdan
th GeneraltyA¢eeptodAonffj Practkfj lor raportKfj perfod8 Winnlng on or •ft•r 1 J•nu•ry 2015.
I havg Com01ed my ex8mnatKJn. I that no m8ttofs have (me to my •tt•ntiM in Cn8ction wlth tho
•xaminatron giving rno cause to that in any matsrlal rtsp8ct'.
8ceounlrwJ recorfs Th)t kept In tharfty 08 requked by 130 of the 2011 Act; or
ihe finan¢ial statements do not accord vAth t10 records.. or
thè financlal stalemenis do not ¢0mY wllh th• aprAic•tle rnwlr•m•nts wKomlng th8 fm and ¢onlent of
aOunts sel out in the Clwltios IAccounts and Reports) Regulatbns 2008 other than any rnquirèmènt th81 the
accounts give a tnje and fatr view 1th1$ not a matter considwgd as part of an ind•p•nd•nl •xamlnatton.
I have no ¢oncerTh8 and hav• corm auoss no other mattern in ¢onOn *ith th¢ exinall0 to whlch 8ttantl)n
shod b• drawm in thls r•port in Ofdgr to en•bItr understanding of the fvw)cW 8tatsThnts to b8 rnached.
Rob•rtAndèrsL¥) FCA
Az¢t• Audlt S•r¥l¢•
3Mc Middlemarch 8uslnosts Park
Siskin Dri
Coventry
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Untted Klngdom
## **COMBINED MILITARY SERVICES MUSEUM**
## **STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**Notes**
**£**
**£**
**Income and endowments from:**
Donations and legacies
**3**
15,735
78,084
Charitable activities
**4**
34,053
-
Other trading activities
**5**
7,766
-
Investments
**6**
38
-
Other income
**7**
-
-
**Total income**
57,592
78,084
**Expenditure on:**
Raising funds
**8**
4,167
-
Charitable activities
**9**
69,404
65,608
**Total expenditure**
73,571
65,608
**Net (outgoing)/incoming**
**resources before transfers**
(15,979)
12,476
Gross transfers between
funds
3,813
(3,813)
**Net (expenditure)/income for**
**the year/**
**Net movement in funds**
(12,166)
8,663
Fund balances at 1 September
2021
1,950,066
241,011
**Fund balances at 31 August**
**2022**
1,937,900
249,674|**Total Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2021**
**2021**
**£**
**£**
**£**
93,819
73,410
26,200
34,053
17,489
-
7,766
4,680
-
38
22
-
-
29,000
-
135,676
124,601
26,200
4,167
2,229
-
135,012
87,584
29,566
139,179
89,813
29,566
(3,503)
34,788
(3,366)
-
(775)
775
(3,503)
34,013
(2,591)
2,191,077
1,916,053
243,602
2,187,574
1,950,066
241,011|**Total**
**2021**
**£**
99,610
17,489
4,680
22
29,000|
|---|---|---|
|||150,801|
|||2,229|
|||117,150|
|||119,379|
|||31,422
-|
|||31,422
2,159,655|
|||2,191,077|
The statement of financial activities includes all gains and losses recognised in the year.
All income and expenditure derive from continuing activities.
- 4 -
COMBINED MIUTARY SERVICES MUSEUM
BALANCE SHEET
AS AT31AUGUST 2022
TaryiO asg0ts
13
14
644.218
1.488,382
848.439
1.4n.147
2.132,OIX*
2.121.Wl
16
17
2.914
10.784
88.479
4,431
51.e
Cash at bwd( In fAnd
57.451
82,1TI
Cr•dAorn: amourt• f*lllng du• wlthln
12,477)
(12,6861
54,974
,491
Tot•1 lu• rr•Trt Il•blllll••
2,187,574
2,191,077
249.e74
1.937,9CI)
241,011
1,950,C
2.187.574
2.191.07T
lo.1
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **Charity information**
Combined Military Services Museum is a charitable trust and registered at the Charity Commission number 1058595.
## **1.1 Accounting convention**
The financial statements have been prepared in accordance with the charity's [governing document], the Charities Act 2011, FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the Charities SORP "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 charity is a Public Benefit Entity as defined by FRS 102.
The charity has taken advantage of the provisions in the SORP for charities not to prepare a Statement of Cash Flows.
The financial statements have departed from the Charities (Accounts and Reports) Regulations 2008 only to the extent required to provide a true and fair view. This departure has involved following the Statement of Recommended Practice for charities applying FRS 102 rather than the version of the Statement of Recommended Practice which is referred to in the Regulations but which has since been withdrawn.
The financial statements are prepared in sterling, which is the functional currency of the charity. 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 charity 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.
Restricted funds are subject to specific conditions by donors as to how they may be used. The purposes and uses of the restricted funds are set out in the notes to the financial statements.
Endowment funds are subject to specific conditions by donors that the capital must be maintained by the charity.
## **1.4 Income**
Income is recognised when the charity 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 charity 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 charity 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.
- 6 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
**(Continued)**
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.
## **1.5 Expenditure**
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.
## **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:
Land and buildings No depreciation is provided Plant and machinery 10% on reducing balance Fixtures and fittings At variable rates on reducing balance
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is recognised in the statement of financial activities.
No depreciation is provided on the charity's freehold property as the trustees believe that its economic value is substantially higher than its book value and any depreciation would be immaterial. The property will be subject to regular impairment reviews.
## **1.7 Heritage assets**
Heritage assets are initially shown at the cost of the acquired asset. A heritage asset that is recognised initially at its cost may be subsequently carried at a valuation where a charity adopts a policy of carrying its heritage assets (or group of heritage assets) at valuation. Heritage assets are held and maintained principally for their contribution to knowledge and culture and consequently are not considered to have a finite economic life. Consequently no depreciation is charged on heritage assets.
## **1.8 Impairment of fixed assets**
At each reporting end date, the charity 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.
- 7 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **1 Accounting policies**
## **(Continued)**
## **1.10 Cash and cash equivalents**
Cash and cash equivalents include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
## **1.11 Financial instruments**
The charity 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 charity's balance sheet when the charity 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.
## _**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 and bank loans 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.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
## _**Derecognition of financial liabilities**_
Financial liabilities are derecognised when the charity’s contractual obligations expire or are discharged or cancelled.
## **1.12 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 charity is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
## **1.13 Retirement benefits**
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
## **1.14 Heritage Lottery Fund**
The National Lottery fund contributed to the cost of buildings and display cases and the balance on the restricted fund represents the value of those assets acquired less amortisation.
- 8 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **2 Critical accounting estimates and judgements**
In the application of the charity’s accounting policies, the trustees are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
## **3 Donations and legacies**
|**Unrestricted**
**Restricted**
**funds**
**funds**
**2022**
**2022**
**£**
**£**
Donations and gifts
11,235
-
Grants received
4,500
78,084
15,735
78,084
**Grants receivable for**
**core activities**
HMRC Job Retention
Scheme
-
-
Arts Council
-
43,084
Maldon DC
4,000
-
Other
500
-
The Gerry Holdsworth
Special Forces
Charitable Trust
-
35,000
4,500
78,084|**Total**
Unrestricted
Restricted
funds
funds
**2022**
2021
2021
**£**
£
£
11,235
1,046
-
82,584
72,364
26,200
93,819
73,410
26,200
-
12,110
-
43,084
41,519
26,200
4,000
18,735
-
500
-
-
35,000
-
-
82,584
72,364
26,200|Total
2021
£
1,046
98,564|
|---|---|---|
|||99,610|
|||12,110
67,719
18,735
-
-|
|||98,564|
Grant income of £82,584 (2021 - £98,564) includes amounts received under the HMRC JRS scheme of £0 (2021 - £12,110), Covid-19 funding from Maldon District Council of £4,000 (2021 - £18,735) and from the Arts Council under their Culture Recovery Fund of £43,084 (2021 - £72,959) and £35,000 from the Gerry Holdsworth Special Forces Charitable Trust.
## **4 Charitable activities**
||**2022**|**2021**|
|---|---|---|
||**£**|**£**|
|Admissions income|34,053|17,489|
- 9 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **5 Other trading activities**
||**Unrestricted**|Unrestricted|
|---|---|---|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Shop income|7,466|4,680|
|Letting and licensing arrangements|300|-|
|Other trading activities|7,766|4,680|
|**Investments**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Interest receivable|38|22|
|**Other income**|||
||**Total**|Unrestricted|
|||funds|
||**2022**|2021|
||**£**|£|
|Net gain on disposal of tangible fixed assets|-|29,000|
|**Raising funds**|||
||**Unrestricted**|Unrestricted|
||**funds**|funds|
||**2022**|2021|
||**£**|£|
|Fundraising and publicity|||
|Other fundraising costs|4,167|2,229|
||4,167|2,229|
## **6 Investments**
## **7 Other income**
## **8 Raising funds**
- 10 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **9 Charitable activities**
|Staff costs
Depreciation and impairment
Rates and water
Insurance
Light and heat
Repairs and maintenance
Printing and stationery
Telephone
Advertising
Travel costs
Sundry costs
Bank charges
Consultancy and professional fees
Share of governance costs (see note 10)
**Analysis by fund**
Unrestricted funds
Restricted funds
**Support costs**
**Support**
**costs**
**Governance**
**costs**
**£**
**£**
Accountancy
-
2,492
-
2,492
Analysed between
Charitable activities
-
2,492|**2022**
**£**
61,651
4,221
374
2,994
6,674
38,801
3,287
1,007
5,951
397
4,490
973
1,700
132,520
2,492
135,012
69,404
65,608
135,012
**2022**Support costs Governance
costs
**£**
£
£
2,492
-
2,196
2,492
-
2,196
2,492
-
2,196|**2021**
**£**
37,044
4,690
192
2,963
4,990
28,379
3,982
976
16,028
119
3,110
656
11,825|
|---|---|---|
|||114,954
2,196|
|||117,150|
|||87,584
29,566|
|||117,150|
|||2021
£
2,196|
|||2,196|
|||2,196|
## **10 Support costs**
Governance costs includes payments to the accountants of £1,680 (2021- £1,620) for independent examiners fees.
- 11 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **11 Trustees**
None of the trustees (or any persons connected with them) received any remuneration or benefits from the charity during the year.
## **12 Employees**
The average monthly number of employees during the year was:
|Museum operations
**Employment costs**
Wages and salaries
Social security costs
Other pension costs|**2022**
**Number**
3
**2022**
**£**
60,432
-
1,219
61,651|**2021**
**Number**
2|
|---|---|---|
|||**2021**
**£**
37,023
(604)
625|
|||37,044|
There were no employees whose annual remuneration was more than £60,000.
## **13 Tangible fixed assets**
|**Tangible fixed assets**|||
|---|---|---|
|**Cost**
At 1 September 2021
At 31 August 2022
**Depreciation and impairment**
At 1 September 2021
Depreciation charged in the year
At 31 August 2022
**Carrying amount**
At 31 August 2022
At 31 August 2021|**Land and**
**buildings**
**Plant and**
**machinery**
**Fixtures and**
**fittings**
**£**
**£**
**£**
606,227
47,250
167,540
606,227
47,250
167,540
-
39,501
133,077
-
775
3,446
-
40,276
136,523
606,227
6,974
31,017
606,227
7,749
34,463|**Total**
**£**
821,017|
|||821,017|
|||172,578
4,221|
|||176,799|
|||644,218|
|||648,439|
No depreciation is charged on the freehold property because in the opinion of the trustees any such charge would be immaterial.
- 12 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **14 Heritage assets**
|At 1 September 2021
Purchases
**At 31 August 2022**|**£**
1,473,147
15,235|
|---|---|
||1,488,382|
Heritage assets represent the charity's various display collection and all assets are shown in the financial statements at their cost price.
|**15**
**Financial instruments**
**Carrying amount of financial assets**
Debt instruments measured at amortised cost
**Carrying amount of financial liabilities**
Measured at amortised cost
**16**
**Stocks**
Finished goods and goods for resale
**17**
**Debtors**
**Amounts falling due within one year:**
Other debtors
Prepayments and accrued income
**18**
**Creditors: amounts falling due within one year**
Trade creditors
Other creditors|**2022**
**£**
5,848
2,987
**2022**
**£**
1,354
**2022**
**£**
344
4,087
4,431
**2022**
**£**
252
2,225
2,477|**2021**
**£**
11,994|
|---|---|---|
|||14,830|
|||**2021**
**£**
2,914|
|||**2021**
**£**
8,166
2,618|
|||10,784|
|||**2021**
**£**
5,103
7,583|
|||12,686|
- 13 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **19 Retirement benefit schemes**
## **Defined contribution schemes**
The charity operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the charity in an independently administered fund.
The charge to profit or loss in respect of defined contribution schemes was £1,219 (2021 - £625).
- 14 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)** _**FOR THE YEAR ENDED 31 AUGUST 2022**_
## **20 Restricted funds**
The income funds of the charity include restricted funds comprising the following unexpended balances of donations and grants held on trust for specific purposes:
|**Balance at**
**1 September**
**2020**
**r**
**£**
Arts Council England - Cultural Recovery
Grant3
-
Arts Council England - Cultural Recovery
Grant2
-
Heritage Lottery Fund
243,602
Gerry Holdsworth Special Forces CT
-
243,602|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
-
-
26,200
(26,975)
-
(2,589)
-
-
26,200
(29,564)|**Transfers**
**Balance at**
**1 September**
**2021**
**r**
**£**
**£**
-
-
775
-
-
241,011
-
-
775
241,011|**Movement in funds**
**Incoming**
**esources**
**Resources**
**expended**
**£**
**£**
43,084
(39,271)
-
-
-
(2,547)
35,000
(23,790)
78,084
(65,608)|**Transfers**
**Balance at**
**31 August**
**2022**
**£**
**£**
(3,813)
-
-
-
-
238,464
-
11,210
(3,813)
249,674|**Transfers**
**Balance at**
**31 August**
**2022**
**£**
**£**
(3,813)
-
-
-
-
238,464
-
11,210
(3,813)
249,674|
|---|---|---|---|---|---|
||||||249,674|
The Heritage Lottery Fund represents lottery funding received relating to the purchase of freehold property and various fixtures and fittings. At the balance sheet date the balance on the fund is represented by the net book value of these assets.
During the Covid-19 pandemic the charity received various Arts Council Recovery grants to spend on supporting the Museum return to operate on a viable and sustainable basis after the disruption caused by the pandemic.
The Gerry Holdsworth Special Forces Charitable Trust funding is to help with digitising the records and artefacts that relate to SOE and Special Forces held by the museum.
- 15 -
## **COMBINED MILITARY SERVICES MUSEUM**
## **NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)**
## _**FOR THE YEAR ENDED 31 AUGUST 2022**_
|**21**
**Analysis of net assets between funds**
**Unrestricted**
**funds**
**Restricted**
**funds**
**2022**
**2022**
**£**
**£**
Fund balances at 31
August 2022 are
represented by:
Tangible assets
405,754
238,464
Heritage assets
1,488,382
-
Current assets/(liabilities)
43,764
11,210
1,937,900
249,674|**Total**
Unrestricted
funds
**2022**
2021
**£**
£
644,218
407,428
1,488,382
1,473,147
54,974
69,491
2,187,574
1,950,066|Restricted
funds
2021
£
241,011
-
-
241,011|Total
2021
£
648,439
1,473,147
69,491|
|---|---|---|---|
||||2,191,077|
## **22 Related party transactions**
There were no disclosable related party transactions during the year (2021 - none).
- 16 -